How AI will change the world? (2023)

How is AI changing the world?

In addition to applications in finance, marketing, entertainment, business, social media, advertising, agriculture, and many other industries, the application of AI has revolutionized the world, making it easier for people to contact friends, send emails, and ride a ride-sharing app.

AI makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks, from chess-playing computers to self-driving cars, which rely heavily on deep learning and natural language processing.

From morning to night, going about our everyday routines, AI technology drives much of what we do. When we wake, many of us reach for our mobile phone or laptop to start our day. Doing so has become automatic, and integral to how we function in terms of our decision-making, planning and information-seeking.

It is not possible for AI to ever replace humans. Our cognitive ability differentiates us from all the creatures on planet earth. Humans can feel emotions for each other which influences our decisions and actions.

Regardless of how well AI machines are programmed to respond to humans, it is unlikely that humans will ever develop such a strong emotional connection with these machines. Hence, AI cannot replace humans, especially as connecting with others is vital for business growth.

According to a research by scientists at the University of Oxford, Artificial Intelligence will be better than humans at translating languages by 2024, writing school essays by 2026, selling goods by 2031, write a bestselling book by 2049, and conducting surgeries by 2053.

Artificial intelligence is shaping the future of humanity across nearly every industry. It is already the main driver of emerging technologies like big data, robotics and IoT, and it will continue to act as a technological innovator for the foreseeable future.

Many argue that AI improves the quality of everyday life by doing routine and even complicated tasks better than humans can, making life simpler, safer, and more efficient.

That's what people worry about. No, AI will not take over the world. Movies like I, Robot are science fiction, with an emphasis on the word fiction.

How is AI helping us today?

Throughout the years, AI has progressed from simple Machine Learning algorithms to advanced machine learning concepts such as Deep Learning. This growth in AI has helped companies solve complex issues such as fraud detection, medical diagnosis, weather forecasting and so on.

Today, the amount of data that is generated, by both humans and machines, far outpaces humans' ability to absorb, interpret, and make complex decisions based on that data. Artificial intelligence forms the basis for all computer learning and is the future of all complex decision making.

There are two sides to this coin: Robots and AI will take some jobs away from humans — but they will also create new ones. Since 2000, robots and automation systems have slowly phased out many manufacturing jobs — 1.7 million of them. On the flip side, it's predicted that AI will create 97 million new jobs by 2025.

According to a recent BCG study, companies can now use AI to monitor their emissions and predict their future emissions to make effective, cost-efficient adjustments. The research notes that AI could reduce greenhouse gas emissions by 5% to 10% globally by 2030.

Humans are territorial in nature, meaning we like to feel in control in order to feel safe. If something is unknown to us, and therefore outside of our control, like AI, then we fear it.

Artificial Intelligence isn't capable of analyzing context, thinking critically through complicated scenarios, developing complex strategies. Teams and organizations are constantly interacting with the external environment. But AI can only process data that has been entered into its system.

By 2030, AI will likely no longer be getting adopted with simple scenarios and applications. It will be expected to detect life-threatening diseases in the nascent stage, predict weather conditions of a large area over several months and become a digital collaborator to the human race.

Rethinking the ways we work

In twenty years, nearly all data will become digitized, making it possible to use AI for decision-making and optimization. AI and automation will replace most blue-collar work and “make” products for minimal marginal cost.

How will AI improve the economy?

McKinsey estimates that AI may deliver an additional economic output of around US$13 trillion by 2030, increasing global GDP by about 1.2 % annually. This will mainly come from substitution of labour by automation and increased innovation in products and services.

One of the biggest advantages of Artificial Intelligence is that it can significantly reduce errors and increase accuracy and precision. The decisions taken by AI in every step is decided by information previously gathered and a certain set of algorithms. When programmed properly, these errors can be reduced to null.

Voice assistants, image recognition for face unlock in cellphones, and ML-based financial fraud detection are examples of AI software currently being used in everyday life.

Using AI alongside other technologies we can make machines take decisions faster than a human and carry out actions quicker. While taking a decision human will analyze many factors both emotionally and practically but AI-powered machine works on what it is programmed and delivers the results in a faster way.

Robotics process automation. Conversational AI. The intersection of the Internet of things with Artificial Intelligence (AIoT) Natural Language Processing.