Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision.
As the hype around AI has accelerated, vendors have been scrambling to promote how their products and services use AI. Often what they refer to as AI is simply one component of AI, such as machine learning. AI requires a foundation of specialized hardware and software for writing and training machine learning algorithms. No one programming language is synonymous with AI, but a few, including Python, R and Java, are popular.
In general, AI systems work by ingesting large amounts of labeled training data, analyzing the data for correlations and patterns, and using these patterns to make predictions about future states. In this way, a chatbot that is fed examples of text chats can learn to produce lifelike exchanges with people, or an image recognition tool can learn to identify and describe objects in images by reviewing millions of examples.
- Manufacturing robots
- Self-driving cars
- Smart assistants
- Proactive healthcare management
- Disease mapping
- Automated financial investing
- Virtual travel booking agent
- Social media monitoring
- Inter-team chat tool
- Conversational marketing bot
- Natural Language Processing (NLP) tools
- AI drives down the time taken to perform a task. It enables multi-tasking and eases the workload for existing resources.
- AI enables the execution of hitherto complex tasks without significant cost outlays.
- AI operates 24x7 without interruption or breaks and has no downtime
- AI augments the capabilities of differently abled individuals
- AI has mass market potential, it can be deployed across industries.
- AI facilitates decision-making by making the process faster and smarter.
- AI-enabled machines incur heavy costs
- Machines lack creativity
- AI-enabled machines may kill job employments
- No emotions can be daunting at times
- AI-enabled machines do not understand ethics.