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Artificial Intelligence on the rise.

Cloud Services / Dynamics / IT Transformation / Technology Advisory

Artificial Intelligence on the rise.

“Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045, and we will have multiplied the intelligence – the human biological machine intelligence of our civilization – a billion-fold.”- Ray Kurzweil.

 

This current period which is also known as “The Fourth Industrial Revolution” is largely driven by artificial intelligence and data analysis resulting in massive changes for how we work and design processes within our work. Specially, AI has opened the doors to the new ways of approaching every facet of business having a large impact in recruiting and hiring. Artificial intelligence term was first coined in the year 1956 in the conference at Dartmouth university.  After 11 years of World War two, AI was on the scenario. Then the period of “AI winter” began which lasted in the 2000s. Now we are on the interesting place of where AI is on the verge. AI which brings Intelligence and automation are helping businesses to make notable strides by increasing performance and efficiencies. Business operations are seeing significant advantage as well. It is the beginning of true autonomy where AI powered machines and software will likely start to untether from human supervision. In the next four years, however, we assume that AI’s industry growth will start to explode and its impact on businesses and society will begin to emerge. According to one survey, the AI industry was a USD 5 billion marketplace by revenue in 2015, a respectable size for such a budding sector. By 2021, it is believed exponential improvements and broader adoption should more than double revenue to become a USD 13.5 billion industry.

 

Software companies will take up the center power and charge ahead to increase automation in sectors like autonomous vehicles and unmanned drones. AI software will assist with medical diagnosis and assistance. AI Software will create significant business opportunities and societal value. Virtual assistants and chatbots will help, other benefits such as improving efficiencies in R&D projects, optimizing transport and supply chain network etc., will make better decision-making processes. Advancing medicine with AI at the edge when developing medicines and treatment at speed seen during the pandemic.

AI is transforming every walk of life. The world is on the cusp of revolutionizing many sectors through artificial intelligence and data analytics. There are important deployments in finance, healthcare that have altered decision-making are generating substantial economic and social benefits.

Source:(https://www.ubs.com/microsites/artificial-intelligence/en/ai-coming-age.html)

 

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