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) …
Artificial intelligence (AI) technology has become a critical disruptor in almost every industry and banking is no exception. The introduction of AI in banking apps and services has made the sector more customer-centric and technologically relevant. AI-based systems can help banks reduce costs by increasing productivity and making decisions based on information unfathomable to a human agent. Also, intelligent algorithms are able to spot anomalies and fraudulent information in a matter of seconds. A report by Business Insider suggests that nearly 80% of banks are aware of the potential benefits that AI presents to their sector. Another report suggests that by 2023, banks are projected to save $447 billion by using AI apps.
The healthcare sector is no different--particularly in the wake of the global pandemic, during which rapid and remote healthcare practices have had to take shape almost overnight. Healthcare software development services and data science solutions have become an integral part of the industry today. In fact, data science in healthcare represents arguably one of the most critical and long-overdue sector revolutions of modern times. With data science, healthcare institutions can harness analytics to bring about faster and far more accurate diagnoses while providing treatments that carry a higher efficacy and lower risk to patients' health. And with over a billion clinical documents being produced every year in the US alone, there's a deep mine of healthcare data out there to be drilled.
Opportunity / Framework Generation defining technology – AI will ultimately have an impact on productivity on the magnitude of steam power, electrification, computing, etc. Core tech done by others – the frameworks (e.g. Microsoft LUIS) will either be open source & collaborative or otherwise require immense amounts of capital and data to develop and therefore are better left to the Internet Giants and Silicon Valley-based investors. AI includes any tech that allows machines to simulate the cognitive capabilities of a human. However, consensus has changed over time; as AI technologies go from leading edge to commercially accepted to mundane, those technologies are often dismissed as "not real AI". For the purposes of this paper, we define AI to be the generation of technologies that have been enabled by advances in machine learning ("ML").
The applications of the Internet of Things (IoT) have been growing dramatically in recent a few years. The smart IoT is dramatically accelerating the pace of innovation and transforming the way of operations in transportation and infrastructure. The ubiquitous deployment of smart, connected sensors and things, combined with artificial intelligence (AI) and big data analytics, can enable us to gather insightful knowledge, make real-time and even predictive computing to help us reaching better decisions and developing better plans to improve the safety, efficiency, and reliability of smart transportation. Here we take a look at some important applications of the IoT in intelligent transportation systems and smart cities. The human factor continues to be one of the main contributing elements to road accidents.