This week, we examine the transformative potential of a new, emerging type of machine intelligence--foundation models. Could they become as important, as fundamental, as electricity?

Many AI techniques are being used in organizations, and AI will continue to get sophisticated in the third wave of AI. In the Fourth Industrial Age, human creativity, AI at scale, and Emotion AI will be dominant forces that will shape the digital organizations of the future. What is the Third Wave of AI? In the first wave, artificial intelligence (AI) systems followed clear rules and were directed at individual applications of the algorithms to cover every eventuality. The second wave was the introduction of deep learning and reinforcement learning systems that mapped inputs to outputs to solve a certain type of problem.

Artificial intelligence is becoming the fastest disruptor and generator of wealth in history. It will have a major impact on everything. Over the next decade, more than half of the jobs today will disappear and be replaced by AI and the next generation of robotics. AI has the potential to cure diseases, enable smarter cities, tackle many of our environmental challenges, and potentially redefine poverty. There are still many questions to ask about AI and what can go wrong.

Artificial intelligence (AI) is undermining many of our industrial age ideas – including the best ways to develop business models, investment strategies, and critical assets. The result is that many companies are playing with an outdated rulebook, and they are being punished by capital markets for it. The industrial age was, and remains, the foundation of business thinking for most organizations and their leaders, including Michael Porter's 5 P's and even some of the most notable Nobel Prize in Economic Sciences winners. The basics of how businesses and countries are managed and measured no longer bring the admiration of investors. One problematic management approach is accounting systems based on Generally Accepted Accounting Principles (GAAP), which classifies plant and property as assets, and people and intangible assets as expenses.

Since Klaus Schwab drew attention to the arrival of the 4th Industrial Revolution in January 2016, we are witnessing the significant impact of Artificial Intelligence and its more well known subset, often seen as its synonym of Machine Learning that led Andrew Ng to propound " AI is the new electricity". India created the IITs in the 1960s that helped some Indians to achieve places of eminence in the technical and business world of the 3rd Industrial Age. Today, India is a ' KRANTI' nation poised to play center-stage in the AI age leveraging the opportunity as a ' learning movement' amongst its masses, evidenced by the rapid adoption of the mobile phone. A group of former IIT faculty and students led by Prof. M.M. Pant have started a movement of AI awareness and lifelong learning to spread knowledge about AI as per one's need. Their Mission 2020 is to prepare not only the young but all ages for their future in the 4th Industrial Age.

Artificial intelligence is becoming the fastest disruptor and generator of wealth in history. It will have a major impact on everything. Over the next decade, more than half of the jobs today will disappear and be replaced by AI and the next generation of robotics. AI has the potential to cure diseases, enable smarter cities, tackle many of our environmental challenges, and potentially redefine poverty. There are still many questions to ask about AI and what can go wrong.

Mobile World Congress turned 30 in February 2017 and heralded the elemental role of mobile as the primary force behind every emerging innovation. Though the role mobility has played in people's daily lives cannot be understated, the next iteration of technology's impact will be far more transformational. Society is at the precipice of the fourth Industrial Age and the rise of the era augmented intelligence and cognitive computing. What does this mean for the financial services industry? Financial institutions are challenged with innovating a century-old service model.

Artificial intelligence is steadily taking up activities and jobs performed by humans these days. According to a study done by professional services firm PricewaterhouseCoopers, nearly 40 percent of existing U.S. jobs might be replaced by robots in the next 15 years. Unlike previous industrial ages, which forced humans to use their brains more instead of performing physical labor, the AI-based industrial age that is slowly but definitely gaining momentum might actually ease the pressure on the human brain. Simply put, as things get more automated, humans will have to do less, which will in turn make them less skilled. There are two scenarios at hand then: either humans would grow dumber, since they have to do less or they make more use of skills that can't be replicated by AI. Google's DeepMind Artificial Intelligence Is Getting Imagination According to a 2013 study done by the U.S. National Library of Medicine, titled "How to discriminate between computer-aided and computer-hindered decisions: a case study in mammography" radiographers are now less likely to diagnose cancers not flogged by computers.

While we're not going to let the bots take over just yet, it's clear that bots are going to meet our needs, offer proactive advice, and serve us. The truth is, we won't try to understand technology. Technology will try to understand us. The digital revolution was about humans becoming accustomed to using computers all day, connecting with each other over social media, and even more arcane activities like learning how to use Photoshop. In the Fourth Industrial Age, technology will slide further behind the curtain into more of an assistive role, one that is not meant to be all about shiny new gadgets and operating system updates.

Mobile World Congress turned 30 in February 2017 and heralded the elemental role of mobile as the primary force behind every emerging innovation. Though the role mobility has played in people's daily lives cannot be understated, the next iteration of technology's impact will be far more transformational. Society is at the precipice of the fourth Industrial Age and the rise of the era augmented intelligence and cognitive computing. What does this mean for the financial services industry? Financial institutions are challenged with innovating a century-old service model.