It seems like artificial intelligence is taking over the world, leaving many of us non-techies feeling terrified. Yet when you stop to think about it, we all use artificial intelligence every day. When we Google something, use Siri on our smartphones or ask Alexa a question, we are using AI. Hollywood has certainly featured AI in many movies from "The Terminator" series to "Robocop" and "I, Robot." In "Minority Report," algorithms predict who is going to commit a crime, and the person is arrested before the crime can be committed.
It seems like artificial intelligence is taking over the world, leaving many of us non-techies feeling terrified. Yet when you stop to think about it, we all use artificial intelligence (AI) every day. When we Google something, use Siri on our smart phones or ask Alexa a question, we are using AI. Wikipedia states artificial intelligence, sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans. Colloquially, the term "artificial intelligence" is often used to describe machines (or computers) that mimic "cognitive" functions that humans associate with the human mind, such as "learning" and "problem solving."
The Artificial Intelligence has created hype in the recent years and flabbergasted the world with its ever-changing inventions. The big companies such as Google, Facebook, and Microsoft are making strides and racing to invest in AI. The products such as Amazon's Echo, Apple's Siri, Microsoft's Cortana, and Facebook's M are the instances of how hastily companies are adopting this trending technology. In this new era of humanoids, Artificial Intelligence is set to become less artificial and more intelligent. The techniques in AI such as predictive analytics, natural language generation, voice or image recognition or machine language is fuelling innovation day by day and transforming the way companies do business.
As the waitress approached the table, Sam Altman held up his phone. That made it easier to see the dollar amount typed into an investment contract he had spent the last 30 days negotiating with Microsoft. The investment from Microsoft, signed early this month and announced Monday, signals a new direction for Altman's research lab. In March, Altman stepped down from his daily duties as the head of Y Combinator, the startup "accelerator" that catapulted him into the Silicon Valley elite. Now, at 34, he is the chief executive of OpenAI, the artificial intelligence lab he helped create in 2015 with Elon Musk, the billionaire chief executive of the electric carmaker Tesla.
According to new research by Accenture, companies risk losing important growth opportunities if their CEOs are not able to take action to reshape the workforce, providing all employees with the right tools to take advantage of smart technologies. The study, entitled "Reworking the Revolution: Are you ready to compete as an intelligent technology?" estimates that business revenues could grow by 38% by 2020, provided they invest in artificial intelligence and effective human-machine cooperation at least as much as market-leading companies. Under these conditions, the level of employment could also benefit from an increase of 10%. For the global economy, this would translate into a profit growth of $4.8 trillion. For example, in an S&P 500, this equates to $7.5 billion in revenues and an increase in profitability of $880 million.