Artificial Intelligence has become more than just a buzzword today. AI is an umbrella term for all the algorithms and models that can learn from large datasets and provide insights in some form or the other. AI is slowly making its way into different fields. It is because AI-based solutions are helping in the automation of repetitive tasks. As all companies aim for optimal usage of resources, they are quickly transitioning to AI-based solutions.
AI – Spreading its branches
Today, Al has applications in numerous fields of work – from education to space research, from medicine to insect research, AI has spread its powerful branches far and wide. How is it that a single technology has been able to gain so much prominence within the past few years?
Well, AI in itself is not a new concept. The term artificial intelligence has been used since 1955! However, we have seen rapid developments at the implementation level in recent times due to one crucial factor – the availability of enough storage and other resources that AI projects consume.
As we often hear the phrase “data is the new oil.” An AI algorithm’s accuracy hinges on the quality and quantity of data used to train the model. Today, improvements in storage technology, the advent of cloud storage haveenabled the implementation of AI projects.
Areas of use
We shall now see the various applications of AI across industries.
- Job recruitment
HRs in all offices have a hard time sorting out the suitable job applications from the rest. The job is both taxing and time-consuming. AI can help HRs, especially in highly populated countries with an enormous workforce. One can use past applications as training data and train a machine learning model to check if a particular application is a good fit for the specified role.
- AI in judiciary
The judicial system in several countries lacks efficiency. If courts are overloaded with too many cases, there will be a significant delay in delivering judgments. Here, AI based software can help in the auto-reviewing of legal contracts. Several startups have already developed projects to help lawyers with automating mundane tasks. Thus, AI is useful in saving precious time, thereby facilitating better efficiency.
- AI in education
Technology has transformed the way education is imparted in schools. With AI, students can have a more personalized experience. Machine learning models can help analyze each student’s strengths and weaknesses. Then, personalized study plans can be drafted for each student.
- AI in public safety
Public safety is a concern in many regions of the world. Especially after the onset of the global pandemic, there is a question of public safety. With computer vision, one can use images from public cameras to detect the faces without a mask and warn/penalize people about the same. Computer vision is a branch of AI which involves computers gaining high-level understanding from digital images and videos.
- Changing the way e-commerce sites operate
Businesses have realized the potential of going digital. Today, a website is a must-have for any business – big or small. To direct more traffic to the website, the content matters. One of the popular features that add to the interactivity of the website is the chatbot. A chatbot is an AI-based application that can answer the basic questions of website visitors.
The pandemic has reaffirmed the fact that AI will continue to help medical professionals. Firms can collect patient data and apply smart algorithms to analyze the data, identify any patterns/trends. Further, AI can also help identify the factors contributing to the patient outcome and those that are hindering positive outcomes. Doctors can then focus on improving the treatment options for various medical conditions.
- Enhanced cybersecurity
With breakthroughs in the tech world, hackers have access to new modes of breaking into systems and causing attacks. Therefore, companies need to adopt new methods to keep their sensitive data safe. Deep learning is a branch of AI used to understand a user’s login patterns and automatically detect suspicious activity. Earlier, people used to wait for a cyber attack to happen before choosing the course of action. AI and predictive analysis can help adopt proactive measures for the same.
Challenges in AI implementation
Readily adapting to new technology is not a simple task. Although there are applications of predictive data analysis, computer vision, and deep learning, not all business firms have access to these. Discussed below are some challenges to the implementation of AI.
- High cost
Presently, one can notice that the big names in the tech industry have invested in R&D for AI. In several industries, research regarding AI is still in its nascent stage. Applications born in this stage may not be fully efficient. Also, the implementation cost is not affordable for small and medium enterprises.
- The hacker
Hackers keep themselves updated about the latest technology. Thus, it should not be a surprise if they develop a system that can surpass the security features built using AI. People with malicious intent having access to cutting edge technology pose a threat to the implementation of AI.
- Lack of data
It is only recently that big data has taken center stage. However, certain machine learning models rely heavily on historical data. In industries with no proper records of previous data, AI implementation may not give accurate models.
AI is surging ahead and taking every industry in its stride. One burning concern about this transformation is the loss of jobs. AI and automation systems are expected to take over several tasks. Thus, people involved in unskilled labor stand a chance of losing the battle with technology.
On the other hand, AI will create more jobs as well. Currently, data science and the tools involved in data analysis are in-demand skills. As far as the technological world is concerned, the future belongs to those who embrace change before it becomes inevitable to accept the change. In the current scenario, firms that quickly adapt to AI can easily survive the waves of transformation.