8 Ways Artificial Intelligence Future will Change the World
“There’s no one thing that defines AI. It’s more like a tapestry of modern intelligent technologies knit together in a strategic fashion that can then uplift and create a knowledge base that is automated — where you can extrapolate findings from there.”
John Frémont, Founder and Chief Strategy Officer, Hypergiant
All of us are very intrigued by the future. We all want to know how will the world look like after 50 years.
How will humans work, how will we transport ourselves from one place to another, what all gadgets would we have, and what all things will be left only in our nostalgia?These are some of the questions among a myriad of questions that would arise when we think of the future.
The answers to some of these questions can be traced to the development of AI.
So let us see Artificial Intelligence Future prospects.
Artificial Intelligence Future
A PwC report estimates that AI will contribute $15.7 trillion to the global economy by 2030. So, let us take a look at how this could be possible with Artificial Intelligence Future:
1. Healthcare
The healthcare industry is bound to witness a drastic change.
Artificially Intelligent robots would be employed for performing complex surgeries with a high degree of precision. It puts consumers on top of things like health and well-being.
Additionally, AI increases the power for healthcare professionals to try understand the day-to-day patterns and wishes of the people they look after.
Thereupon understanding they’re ready to provide better feedback, guidance and support for staying healthy.
AI would also be developed in wearable devices like watches and wrist bands to monitor the human body and predict any diseases if any.
2. Autonomous Vehicles
Everyone these days is all hyped about “Autonomous Vehicles”. Level 2.0 Autonomy has already been achieved by Tesla. Autonomous driving is one among the key application areas of AI.
Autonomous vehicles (AV) are equipped with multiple sensors, like cameras, radars and lidar, which help them better understand the environment and in path planning.
These sensors generate a huge amount of knowledge
Once autonomous vehicles would be on road, cab services like Uber and Ola would be driverless. This would change the way transport industry functions.
The Autonomous Vehicle Market being driven by AI is projected to have a valuation of $127 billion by 2025.
3. Security and Defense
The utilization cases for AI in defense and security are virtually unlimited.
AI are often embedded into weapons and surveillance systems to reinforce performance. It is often to improve target recognition, combat simulation and training, and threat monitoring.
Most importantly, the critical and risky jobs of securing the borders of the country can be delegated to artificially intelligent robots, unmanned aircraft, and drones, UAVs, etc.
This would reduce the risk of life for the soldiers on the borders and provide better surveillance measures using evolved Facial Recognition Technologies.
4. Manufacturing
Manufacturing in the near future would be fully automated. AI also optimizes manufacturing supply chains, helping companies anticipate market changes. This information is invaluable to manufacturers because it allows them to optimize staffing, internal control , energy consumption and therefore the supply of raw materials
The manufacturing processes enabled by Artificially Intelligent Systems would be able to not just perform the required processes but also be able to inspect, improve, and quality checks the products without any human intervention.
In addition, According to the reports of Marketsandmarkets, Artificial Intelligence in the manufacturing market is expected to grow from USD 1.0 billion in 2018 to USD 17.2 billion by 2025, at a CAGR of 49.5% during the forecast period.
5. Education
The future of classrooms is digital. Already, there are a lot of courses on platforms which are highly informative and can be accessed from anywhere, anytime. AI can automate the expedition of administrative duties for teachers and academic institutions.
Educators spend tons of their time on grading exams, assessing homework, and providing valuable responses to their students. AI is allowing automation of classification and processing of paperwork.
The concept of education will be redefined from the comfort of the homes, personalized according to every students’ needs with the help of Artificially Intelligent systems.
According to a report by Market Research Future (MRFR), the AI-enabled Ed-tech sector is projected to grow to USD 2 billion, at a CAGR of 38% during 2018-2023.
6. Entertainment
Already, the OTT’s like Netflix and Amazon Prime are rapidly increasing their user base. Smart algorithms are going to be ready to come up with the simplest marketing and advertising solutions.
With AI, it’s possible to form all marketing processes a couple of times faster by utilizing predictive analytics.
In the future, the AI will be able to predict not just our preference, but also our mood and would display content according to it.
Virtual Reality enabled sci-fi content and games can be a part of sources of entertainment in the future.
By 2021, the U.S. E&M industry is projected to reach $759 billion in revenue, increasing at a compound annual growth rate (CAGR) of 3.6 percent.
7. Workplace
Businesses are using AI to enhance the productivity of their employees.
The advantage of AI for business is that it handles repetitive tasks across a corporation in order that employees can specialize in creative solutions, complex problem solving, and impactful work.
One example of that is chatbot.
The concept of the workplace will also be redefined by the advent of technologies. The future workplace will not just be global in nature but also highly flexible.
The concept of Work form Home will be the new norm and digital conferences and meetings would be the accepted practice. This would cause, the commercial real estate spaces to witness a drop in their demands.
8. Banking and Finance
Artificial Intelligence is the best way forward for banking because it brings the facility of advanced data analytics to combat fraudulent transactions and improve compliance.
AI assistants, like chatbots, use AI to get personalized financial advice and work on processing to supply instant, self-help customer service. With increasingly efficient and intelligent systems, it becomes easier to detect and stop fraud in the banking sector.
For Example, Artificially Intelligent Systems can help in high-frequency trading, enhanced customer service and better decision making due to the faster processing of a large amount of data.
Summary
Finally, to conclude, this was all about Artificial Intelligence Future. These are some of the sectors which would be in stark contrast to their present forms in the future.
The ways in which AI can be implemented in different industries are left only to one’s imagination, but there is one thing that is for sure, which is :
“The future would be an exciting time to live in”.