Artificial intelligence (AI): Software algorithms that are capable of performing tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. AI is an "umbrella" concept that is made up of numerous subfields such as machine learning, which focuses on the development of programs that can teach themselves to learn, understand, reason, plan, and act (i.e., become more "intelligent") when exposed to new data in the right quantities. Augmented reality (AR): Addition of information or visuals to the physical world, via a graphics and/or audio overlay, to improve the user experience for a task or a product. This "augmentation" of the real world is achieved via supplemental devices that render and display said information. AR is distinct from Virtual Reality (VR); the latter being designed and used to re-create reality within a confined experience.
Definition – What does Artificial Intelligence (AI) mean? Artificial intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and react like humans. Artificial intelligence is a branch of computer science that aims to create intelligent machines. It has become an essential part of the technology industry. Research associated with artificial intelligence is highly technical and specialized.
Explain: Many of the fears around AI stem from the possible job loss caused by the automation in industries such as manufacturing. However, automation is also at the heart of one of the most exciting and tangible AI products, driverless vehicles. An automated system can run without the help of a human but that does not make it artificially intelligent. An AI-powered automated system would not only be able to make decisions without a human but would be able to learn from those decisions and alter their action as a result.
From advanced robotics in R&D labs to computer vision in warehouses, technology is making an impact on every step of the manufacturing process. Lights-out manufacturing refers to factories that operate autonomously and require no human presence. These robot-run settings often don't even require lighting, and can consist of several machines functioning in the dark. While this may sound futuristic, these types of factories have been a reality for more than 15 years. Famously, the Japanese robotics maker FANUC has been operating a "lights-out" factory since 2001, where robots are building other robots completely unsupervised for nearly a month at a time. "Not only is it lights-out," said FANUC VP Gary Zywiol, "we turn off the air conditioning and heat too." To imagine a world where robots do all the physical work, one simply needs to look at the most ambitious and technology-laden factories of today. For example, the Dongguan City, China-based phone part maker Changying Precision Technology Company has created an unmanned factory. Everything in the factory -- from machining equipment to unmanned transport trucks to warehouse equipment -- is operated by computer-controlled robots. The technical staff monitors activity of these machines through a central control system. Where it once required about 650 workers to keep the factory running, robot arms have cut Changying's human workforce to less than a tenth of that, down to just 60 workers. A general manager for the company said that it aims to reduce that number to 20 in the future. As industrial technology grows increasingly pervasive, this wave of automation and digitization is being labelled "Industry 4.0," as in the fourth industrial revolution. So, what does the future of factories hold? Manufacturers predict overall efficiency to grow annually over the next five years at 7x the rate of growth seen since 1990.
Newer technologies such as Artificial Intelligence (AI), robotics and automation, 3D printing, mixed reality that combines virtual reality and augmented reality, and blockchain are not only disrupting and transforming business models and the lives of individuals, but also ushering in the so-called gig economy which envisages an environment in which temporary positions are common and organizations engage independent workers on short-term contracts. Lounge takes a look at how these technologies will affect us in the years to come.