The Artificial Intelligence Revolution

Introduction:

Artificial Intelligence or AI has been taking the world by storm over the past couple years and especially the year 2023. This is a result of the tremendous impact AI has had over the years on our society. It is crucial for all companies to understand this new emerging technology. Now many will debate that AI is not a new innovation but rather has been present for almost 2-3 decades, I am here to say that the concept of AI was first introduced by Alan Turing in the 1950s with the publication of his paper, " Computing Machinery and Intelligence", many would remember as the famous Turing Test created to tell apart a human for a machine.

On a side note: The above is just a snapshot from google trends that I took to show you the explosion of interest and increase in search queries on google. To add a little more insight, Jan 2022 was when OpenAI's first Dall-E was released, an image generation AI tool.

What is AI:

Artificial intelligence has been a buzzword over the years to attract and intrigue the regular consumer. To give the right representation of AI, most people define AI has a secondary form of intelligence that can mimic the human intelligence at different domains.

the human brain is considered as one of the most powerful form of intelligence know to this date. This means that our brain is considered the main source of inspiration for many researchers in terms of what intelligence looks like and how intelligence should perform in domains. Main of the AI algorithms try to mathematically recreate the same logically reasoning that takes place inside of the brain. Another fun fact is, we can actually divide AI into different domains which are comparable to human domains. These are...

• Computer Vision (Human Vision) : This includes image recognition, image segmentation, Image classification, real time detection etc.
• Natural Language Processing (Human Communication) : These include, Sentiment Analysis, Summarization, Large Language Models etc.
• Machine Learning (Human Learning) : Supervised and Unsupervised learning, Predictive Analysis, classification Problems etc.
• Generative AI (Human Creativity) : These include, Image generation, Text Generation, Music Generation etc.

Above are a few domains where AI has been able to recreate human levels of precision, creative and accuracy. There are a lot more to AI than whatever was discussed till now, but I will go in-depth will everything over the course of the newsletters.

Impact of AI and the year 2023:

With reference to an IBM Report that was published in May 2022, more than 35% of the companies worldwide are actively using AI in their businesses today while 42% of the companies are exploring AI for future adoption.

While AI adoptions are at an all time high, larger companies are more likely to be leading the way with implementation of AI in their businesses. Countries like India and China have likely report nearly 60% adoption in AI in their companies.

A Mckinsey report on adoption of AI showcased that many domains have adopted AI to improve businesses, most of which is for business optimizations and creating AI products for consumers. The reason for higher adoption internally in companies is because AI has been able to reduce cost and workloads of companies while increasing efficiency within the company, an example would be automation of internal processes.?

In a recent Accenture publication, it was said that in the next year there would be 2x as many AI achievers, AI achievers are companies that are able to leverage AI in their business. Companies only take 8-9 months to be converted into a AI achiever in contrast to the time taken for companies to implement digital transformation. Most companies are still in the experimental state with AI but within the next 5 years more than 40% of the companies worldwide would be AI achievers.

What Next?

With the rise of Generative AI and Cloud computing, consume of AI tools will be on the rise. Consumers and small businesses would be able to harness this revolutionary technology create an influx of interest in newer ideas. In the field of NLP and especially LLM's it would be important to reduce model hallucinations and bias while CV applications would need to be able to increase accuracy and recall ability so that application development can be more reliable.

Big Companies will be heavily investing in research and development for faster and more reliable AI algorithms while small companies would be looking into how AI can influence their businesses in a positive way. The concern of ethical AI is also in the rise, this would imply governments and organizations placing a strong hold on how information is being passed, who consumes these AI algorithms and long term effects on society as a whole.

Conclusion:

Regardless of you believing in the Armageddon or if you are excited for the AI revolution, we have just reached the brink of its capabilities. For those who are more familiar with the term, we are closer to the AI singularity than ever before. Within the next 10 years, every information we consume, every purchase we place and every action we take would be influenced with AI.

Author:

My name is Rohit. I am a keen AI enthusiast who has been following the AI revolution since 2018. I am currently a student at the University of Michigan - Dearborn. My passion for AI and its implications on our society is what excites me. I personally believe AI will be changing our life for the betterment and to be part of this technological shift has been a complete honor.

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