AI and ML – Beyond the Buzz

AI and ML will fundamentally change our lives, and there’s no shortage of buzz and hype around that. In the case of AI, it can be difficult to separate fact from fiction and marketing hype from practical applications. We saw that in Super Bowl ads that sort of make fun of AI and robots.

In their ad, Michelob Ultra has a robot that’s working out better than the fit humans, who eventually have their revenge. Amazon had the help from Harrison Ford and Forest Whitaker, where we see all the ways that Alexa products didn’t work. We also saw an Alexa toothbrush and Alexa dog collar. Over and over again, AI and robots are messing things up and letting us down. But why?

The robots in these ads helped these brands stand out, and robots are trendy, no doubt about it. AI is everywhere, and as of the second quarter of 2018 – about a quarter of U.S. households have voice-enabled devices. Also, consumers in those households spend more than an hour per day interacting with these devices. Automation is created to help people streamline and prioritize life, but there’s always that question – what if we lose control? They can be a threat. More and more people are questioning these devices and the human qualities they’re taking on.

Robots are becoming increasingly trendy, but perhaps they’re stylish for the wrong reasons?

What does market research say?

Artificial Intelligence (AI) associates with human intelligence, such as learning, reasoning, problem-solving, language understanding, etc. When it comes to the development of such technology, the manufacturers in the market face enormous intellectual challenges. The demand for AI mainly is driven by Big Data integration, improved productivity, increased customer satisfaction, and diversified application areas. Some of the restraints on the market, on the other hand, are a threat to human dignity and lack of a skilled workforce.

The segment of Machine Learning (ML) has secured a share of around 52% in the AI market in 2016 and is expected to grow by 2025. Many new startups are investing in AI solutions, and the demand for these technologies is fueled by an increase in demand for cloud applications, technological advancement, and rapid urbanization.

The biggest tech companies, such as Amazon, Alphabet, IBM, and Microsoft are racing to develop cognitive APIs – also referred to as MLaaS (Machine Learning as a Service). The MLaaS market is expected to top at $7.6 billion by 2023. They invest in great teams of data scientists, linguists, and computer scientists to be the first to provide these services, but also have substantial use for these technologies for their operations.

AI and ML trends that will shape our future by 2025

To see all the possibilities clearly, we need to take a step back to see the whole picture. The entry point of AI into the mainstream will be with successfully-proofed ML algorithms, not with state of the art applications. For example, we have cloud-based IT services (Google Cloud Platforms, Azure, AWS) available to us, which gave retail businesses easy access to ML applications – which was a dream until now. And the list of those using AI is getting longer and longer as the leading commerce, manufacturing, healthcare, financial, security, and tech companies are adapting AI as their business model. Everybody thinks that AI is an essential game-changer for the future of their business.

Here are some strategic trends forecasted for 2025 that will show you how the AI Economy will possibly shape our future.

  • AI will ease hunger. Most of us don’t know where our food is produced as well as how to distribute it properly. AI will help reduce the inefficiency and suffering from ineffective food supply chains by 2025.
  • AI as investors. AI will work cooperatively with humans and get better ROI than humans alone. By 2025, it’s expected that AI managers will be in huge demand.
  • AI and sustainable energy management. We will have various clean energy innovations available and a new smart energy grid by 2025. We will witness a new agile energy world which will be managed by AI (as humans may not fully understand it). A cluster of deep and machine learning systems will manage, deploy, and distribute energy.
  • AI and enhanced human performance. Human enhancement is coming with people living older and wanting a healthier, disease-free life. AI will help medicine evolve, and things such as consumer genomics, refreshing cognition, increasing mobility freedom, and personalized medicine will become part of our enhancement future.
  • AI and transportation. From navigating to work to flying in space. The global transportation system will be altered by AI driving ships, planes, and cars, making it more efficient, faster, and safer.
  • AI and medicine. By 2025, we will have evidence-based medicine (thanks to AI used to analyze the big data of disease) everywhere via cloud technology. AI researchers and doctors will transform the diagnosis and treatment of diseases, but more importantly, it will help prevent illness.

AI and ML will create value for individuals, companies, and governments. They will disrupt businesses, change business models, and displace some jobs. And we don’t need to fear AI and the future but shape the future we want by managing, controlling, and directing AI.

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