If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Grand View Research estimates the global AI market will grow at a compound annual rate of 57% between 2017 and 2025, reaching $36 billion. Forrester predicts that 2020 is the year executives will focus on how to drive and measure the value of their investments in AI. A recent survey of healthcare executives conducted by Optum found that not only is use of AI on the rise, but also that most executives expect a faster return on their investments than first anticipated. What's missing from these lofty projections are more substantive discussions about what's required to ensure that AI can deliver on its promise, such as the importance of data governance and management. There are also fewer conversations about the role AI and machine learning can play in the healthcare supply chain, compared with other areas, such as improved disease diagnosis and drug development.
They beat us at chess and trivia, supplant jobs by the thousands, and are about to be let loose on highways and roads as chauffeurs and couriers. Now, fresh signs of robot supremacy are emerging on Wall Street in the form of machine stock analysts that make more profitable investment choices than humans. At least, that's the upshot of one of the first studies of the subject, whose preliminary results were released in January. Buy recommendations peddled by robo-analysts, which supposedly mimic what traditional equity research departments do but faster and at lower costs, outperform their flesh-and-blood counterparts over the long run, according to Indiana University professors. "Using this type of technology to make investment recommendations or to conduct investment analyses is going to become increasingly important," Kenneth Merkley, an associate professor of accounting and one of the authors, said by phone.
The era of artificial intelligence (AI) is here and is transforming the insurance industry. Will insurers pivot or perish? The answer lies in how they approach this big disruption. Insurance industry executives need to understand that AI's strength is also its flaw. Not being constrained by rules allows for speedy learning, but it also means that AI is learning without the context that more specific programming or human intelligence and judgment would provide.
They beat us at chess and trivia, supplant jobs by the thousands, and are about to be let loose on highways and roads as chauffeurs and couriers. Now, fresh signs of robot supremacy are emerging on Wall Street in the form of machine stock analysts that make more profitable investment choices than humans. At least that's the upshot of one of the first studies of the subject, whose preliminary results were released in January. Buy recommendations peddled by robo-analysts, which supposedly mimic what traditional equity research departments do but faster and at lower cost, outperform their flesh-and-blood counterparts over the long run, according to Indiana University professors. "Using this type of technology to make investment recommendations or to conduct investment analyses is going to become increasingly important," Kenneth Merkley, an associate professor of accounting and one of the authors, said by phone.
Artificial intelligence can increasingly be used to support human tasks but will not replace people completely, aerospace giants Boeing and Thales said Monday on the sidelines of the Singapore Airshow. Both companies, which are among a growing number of aerospace manufacturers integrating AI into operations, emphasized that the emerging technology was not about take away jobs from people in their industry for the forseeable future. "This technology is going to be primarily about improving productivity of the workforce in aviation or any industry, rather than replace or displace," said Naveen Hussain, general manager of research and technology at Boeing, who was on the panel. The U.S. plane maker is rolling out AI to automate processes on the factory floor, Hussain said. According to Boeing's website, its technologists are applying AI to machines used in the assembly process for fuselage sections of its 787 aircraft, which has helped speed up the manufacturing line.
The present skills gap in the US is jeopardizing the country's long-term growth. Disruption has exploded the job demand; skill levels are constantly shooting up and the workforce doesn't have sufficient workers to fill in. In Dec 2018, 7million jobs were available for 6.3 million job seekers. While the country is almost bordering on full employment, its growth is muzzled in a time when it could have scooted in its fullest fury. Panorama on the global stage is equally grim.
I hope you enjoy the video, and here is the script. And at least 20 million are injured or disabled. Mostly, car crashes happen due to human error, things, like sleeping during driving or using phones, are the main causes of these deaths and injuries, but with self-driving cars, there is no human error, it will be orders of magnitude safer than human drivers so these lives will be saved and all these millions will avoid injury and disability, and this will make a great disruption in healthcare industry, as we mentioned accidents will be lower by at least 90% so the health care businesses will lose at least 20 million patient every year, put in mind that a huge proportion of people injured from accidents may suffer from a long term health issues like fractures or disabilities, which requires several medical procedures and regular follow up for long periods, so that'll be a huge loss for the healthcare industry, an estimated 500 billion $ loss is expected to happen for the healthcare industry in the united states when autonomous vehicles are widely adopted and deployed. What else will happen as a result of the decreased number of accidents? Good for us there will be no need to pay for insurance companies and bad for insurance companies they will lose a lot of their business as car insurance will sharply decrease.
How can you make the work environment more effective with interactivity, more human-centric and last but not least … fun? Ok, let's see, imagine the scene where the staff of a project entering the conference room, the project leader says: "Watson, bring me the last working session." The computer recognizes and greets the project staff, then retrieves the materials used in the last meeting and displays them on three large screens, and the work can begin. The project staff interacts with each other through computers that understand their speech sensors that detect their position, record their roles and observe their attention. No human administration or other disruptions, only a collaborative environment where the project team also naturally interact with the computers that manage all the data in the room.
It's safe to say that no industry will be left untouched by digital disruption. This article is part of an MIT SMR initiative exploring how technology is reshaping the practice of management. Legacy companies are falling like dominoes to disruptors. Together, emerging technology and new business models have created new ways of serving customers. The same way Airbnb, Uber, and LinkedIn fundamentally changed the lodging, taxi, and recruiting industries, titans such as Amazon, Google, and Facebook are now poised to disrupt every industry as wide-ranging as health insurers to grocers.
Last November, Brookings published a report on artificial intelligence's impact on the workplace that immediately raised eyebrows. Many readers, journalists, and even experts were perplexed by the report's primary finding: that, for the most part, it is better-paid, better-educated white-collar workers who are most exposed to AI's potential economic disruption. This conclusion--by authors Mark Muro, Robert Maxim, and Jacob Whiton--seemed to fly in the face of the popular understanding of technology's future effects on workers. For years, we've been hearing about how these advancements will force mainly blue-collar, lower-income workers out of jobs, as robotics and technology slowly consume those industries. In an article about the November report, The Mercury News outlined this discrepancy: "The study released Wednesday by the Brookings Institution seems to contradict findings from previous studies--including Brookings' own--that showed lower-skilled workers will be most affected by robots and automation, which can involve AI."