Should We Fear or Embrace Artificial Intelligence (AI)?

We often hear that “The era of robots is here”, as if they are something to be afraid of. Yet we ought not to dread innovation and development. Artificial intelligence is more than robots and mechatronics. There are many reasons why we should appreciate man-made brainpower. Human beings, as a species, have evolved over time and with our changing environment, we will make technological advances too.

What Is AI?

Computer-based intelligence is still a novelty. AI is taking on a new meaning continuously, as we use it more and more in our daily lives. There is no consistent definition, and its understanding varies greatly between the general public and the experts. Simply put, AI enables a machine to reproduce human intelligence, for example self-learning with the ability of reflection and insight. It consists of amazing algorithms and robotics intended to expand what humans can do on their own. In order to exploit this innovation, we should have a basic understanding of its power.

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How Businesses and Individuals are Embracing AI?

Market pioneers, such as, Amazon, eBay and Netflix are using computerized reasoning (AI) to take their client experience to new heights of customer relationship management. AI has changed e-commerce by empowering brands to sort information, perform astute calculations and improve customer communication. In these modern times of “conversational trade”, AI is essential for customized insight.

Businesses that do not incorporate AI technology strategy are likely to disappear. Until very recently, only big organizations could manage the cost of undertaking a venture to implement AI. This is not true anymore as artificial intelligence is becoming more easily available to the larger public. Early adopters of such technologies are already reaping the rewards. This is the ideal moment to implement AI in your organization.

Some uses and benefits of AI
It can revamp healthcare

Currently, AI diagnostics can analyze a range of diseases with clinical precision. As the sensors in our telephones, watches and other gadgets become increasingly affordable and accessible, it is now possible to envision a world in which we could be monitored by a virtual consultant who could predict when we are about to fall ill. This virtual consultant could then either recommend suitable self-care or refer us to a human clinical expert, as needed. 

AI, in the form of diagnostic chatbots, fever detectors, and intelligent drones has also played a key role in collecting and analyzing data, and predicting trends of the novel coronavirus. It is now being geared towards monitoring the effects of the Covid-19 vaccines.

Senior citizens can remain physically independent

Self-driving robots can enable aged people to order goods for delivery at their doorstep. In an emergency situation, such as the current pandemic, such robots could carry essential merchandise to senior citizens so that they need not put their well-being in peril by stepping out of home.

AI can help people with disabilities to be self-sufficient

Artificial intelligence can help numerous individuals with disability via technology that can hear, see and reason with noteworthy precision. For instance, the mobile phone application called Seeing AI can enable people with visual impairment to “see” by describing individuals, articles and text in front of them.

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Farmers can save precious time and resources

Simulated intelligence powered robots can assist ranchers with timely recording of data on their yields. A robot can now fly over a homestead, capture pictures and help identify irrigation issues, bug pervasions or other possible dangers to crops. AI can also assist farmers in making effective decisions about planted crops, irrigation, deployment of fertilizers etc.

It can accomplish tedious tasks

Use of AI for tedious or ordinary household chores such a vacuuming, pool cleaning or window cleaning is becoming increasingly common in the form of robots. Such tasks that do not need critical thinking can be performed by AI, freeing up time for people to concentrate elsewhere. Although some jobs have and will change in light of new advancements, AI will create new openings and opportunities as well.

Joining the best of human and computer intelligence can enable us to be more effective and creative. Organizations are now moving towards profiting from advances in sensor technology and other developments in AI, in the form of Internet of Things (IoT) applications. These advancements can result in frameworks equipped for free learning and independent thought processes. Chatbots, robots and other AI technology appear to be ready to bring change at the grass-root level in how we collaborate with and adapt to innovation in our new, competitive world.

This article was originally published in The Accountant’s Diary on December 23, 2020.

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