When you hear the term'Artificial Intelligence,' what comes to your mind? People often say that Artificial Intelligence (AI) is the next big thing, but do you understand what do they mean by it? AI technology has become an essential part of our daily lives. From virtual assistants to chatbots, every application being developed today uses the concept of AI. Due to the advancements happening in organizations with the help of this technology, worldwide, AI has also gained a lot of popularity in recent years, and it will only excel in the coming future.
Big data and data science are set to bring in a digital revolution with groundbreaking technologies like artificial intelligence (AI), machine learning (ML), and deep learning. The essence of data science is to dive into massive datasets to extract meaningful information from them. The insights that data scientists and data analysts obtain from large volumes of data is the secret sauce that's rapidly transforming everything around us. Institutions and organizations across various sectors of the industry are now leveraging data science technologies to power innovation and technology-driven change. In fact, nearly 53 percent of companies have adopted big data analytics in 2017, which is an enormous growth from the 17 percent in 2015.
As per the report by International Data Corporation, almost 50 percent of the participating global organizations perceived Artificial Intelligence as a top priority. While 25 percent of these businesses had successfully implemented a company-wide AI strategy, almost 60 percent had modified their business model to accommodate AI-driven functionalities. However, one-fourth of the respondents reported that up to 50 percent of their AI projects couldn't provide the desired results. Overall, many businesses experience issues when trying to incorporate Artificial Intelligence (also known as AI) into their operations. There are various reasons for this, such as the higher costs involved, the requirement of specialist skills, and reliance on the collection of comprehensive data.
Artificial intelligence (A.I.) and machine learning are burning topics within the tech community, and while we are likely decades away from Artificial General Intelligence, deep learning technologies are charting new territories in medicine, education, and ways in which consumers can interact with brands. Within the past quarter alone, tech giants like Alphabet, Salesforce, Nvidia, Amazon, and IBM have made major investments into A.I. technology by acquiring smaller machine learning companies, hiring dedicated A.I. research teams in house, or successfully partnering with startups tackling the space. Their investments validate that deep learning is no longer a new fad, but a technology that businesses must either include in their products and services or risk being outpaced by competitors that do. While advancements in machine learning and A.I. are exciting and pose many benefits to people and businesses, its increased functionality in our daily lives raises some regulatory and socioeconomic concerns. Facebook was excoriated recently after turning over its Trending section to algorithms, which proceeded to promote false and inappropriate news stories without the human former curators.
Artificial intelligence has been heralded as a revolutionary technology. The finance, healthcare, HR, and marketing industries are the first ones that will be disrupted by AI. Artificial intelligence and its accompanying technologies, such as machine learning and deep learning, have ushered in an era of intelligent automation and human-level recognition. Long-standing fields, such as finance, healthcare, human resources (HR), and marketing have begun to feel the disruptive effect of AI. Artificial intelligence has taken up the mantle of the most used buzzword in modern solutions, being billed as a revolutionary method of providing labor. These technologies have enabled a new level of low-cost and accurate labor for companies all over the world. In addition to this, they are also able to create new value opportunities for enterprises through analytics.