Artificial intelligence, machine learning, and deep learning technologies have entered the mainstream; they are being adopted by enterprises all over the world. While these technologies certainly hold the potential to vastly improve the quality of operations in the corporate sector, they also stand to disrupt many existing markets. AI can easily be extended, adapted, and applied to different business operations. When considering that AI is just a computer program, we can begin to see the potential scope of the technology. The reason that AI is being adopted on such a large scale is due to its capacity to bring intelligence to tasks that previously did not have it. This, coupled with the technology's ability to automate repetitive processes with intelligence, makes it a highly disruptive power in various sectors. Keeping this in mind, we explored some of the industries that are most likely to be impacted by the widespread adoption of AI technology. Let us see why companies are so eager to adopt artificial intelligence.
It is true that IoT or Internet of Things revolution is going on, and AI or Artificial Intelligence can play a vital role in it. Let's know how the amalgamation of both technologies can change the scenario of the future in the current post. According to Statista, the global AI market in 2018 was $9.51 billion, and prediction for 2019 is $14.69 billion. Statista also predicted that a number of connected devices in 2019 would remain 26.66 billion in numbers. Now, statistics of both technologies on the web indicate that AI and IoT are emerging and fast-growing digital technologies.
The Internet of Things is an essential driver for customer-facing innovation, data-driven optimization and automation, digital transformation and entirely new applications, business models and revenue streams across all sectors. The Internet of Things is the logical next step in the evolution of the Internet. The roots of the Internet of Things go back to several existing technologies including machine-to-machine communication (M2M), RFID and sensors. The Internet of Things converges industries and specializations, uniting Information Technology and Operational Technology (IT and OT) and contributing to industrial transformation (Industry 4.0) and a wave of use cases which are either cross-industry or typical to a specific sector. As of June 2017 the main areas of Internet of Things investments (industries and use cases) include manufacturing operations, transportation, smart grid technologies, smart buildings and, increasingly, consumer Internet of Things and smart home automation.
Artificial intelligence (AI) is increasingly getting attention from enterprise decision makers. Given that, it's no surprise that AI use cases are growing. According research conducted by Gartner, smart machines will achieve mainstream adoption by 2021, with 30 percent of large companies using AI. These technologies, which can take the form of cognitive computing, machine learning and deep learning, are now tapping advanced capabilities such as image recognition, speech recognition, the use of smart agents, and predictive analytics to reinvent the way organizations do business. Combined with other digital technologies, including the Internet of Things (IoT), a new era of AI promises to transform business.
Artificial Intelligence (AI) may look like something out of the pages of a sci-fi book, yet you'd be surprised how often you use it daily. As the technology continues to improve, AI will become even more common with more widespread utilization among diverse industries. To start with, let's begin with the basic definition of Artificial Intelligence (AI) and what it includes. Seeking Alpha gives a very apt description of the same in their article- At a basic level, artificial intelligence is the concept of machines accomplishing tasks which have historically required human intelligence. Applied AI: Machines designed to complete very specifics tasks like navigating a vehicle, trading stocks, or playing chess – as IBM's Deep Blue demonstrated in 1996 when it defeated chess grand master Gerry Kasparov. General AI: Machines designed to complete any task which would normally require human intervention. The broad nature of General AI requires machines to "learn" as they encounter new tasks or ...