Is AI really helpful?

Technology has evolved a lot in the past few decades. A century ago, millions – or probably billions – didn’t even have basic electrical utilities in their homes. Around 60 years ago, computers were considered as machines that could only be kept and used by governments. The concept of personal computers didn’t exist anywhere at the time. Fast-forward to the current decade and we see that even personal computers have become outdated in favor of modern touch-screen smartphones.

More recently, we’re seeing the rise of AI technology. What was previously a hot subject on almost every science-fiction movie, AI has now moved onto the realms of reality.

It’s no longer something we only get to see in the movies. AI is actually very close to us. So close that you already have it in your phones in the form of Siri and Google Assistant.

AI exists in several different forms and technologies. Most AI products and technologies actually fall under two different categories:

1. Weak AI

The AI services mentioned above, i.e. Apple Siri and Google Assistant, are actually classified as weak AI. These types of AI tools are bound by certain tools, and they never elapse out of them. These tools are great at performing certain functions and tasks. They actually work similarly to the human mind while performing these specific functions. However, these tools are useless outside these specific functions.

Related: How AI is Aiding the Financial Industry?

2. Strong AI

This form of AI knows no limits. It is not bounded by any rules and covers multiple fields at once. It is similar to the human brain in the sense that it can use its intelligence in different fields at once. However, this form of AI is too advanced for the time being. Even though it is estimated that this AI will replace humans in several different fields one day, most industries are still focusing more intently on Weak AI and its properties.

How does AI work?

AI usually exists in the form of software. Once it is built, it can be installed on any particular device and perform a function that suits best with it.

For instance, Tesla has got AI installed in its cars that grants you the option to auto-pilot your car. These cars can self-drive thanks to the software, advance AI and deep learning programs installed in them.

Moreover, Apple Siri and Google Assistant are two other AI tools that are installed in your smart device and perform multiple functions on your phone. If you whisper Okay Google to any latest Android device, you will see a Google window popping up on the screen asking how can it help you. You can ask it to perform various functions like playing a song, perform a Google search, or even to tell you a joke.

How AI is helping us?

AI has the capability to help us in lots of different ways. One day, self-driving cars will become a norm and that would be credited to the AI.

Even today, AI is transforming lots of industries, more specifically the finance industry. For instance, there are tools like BlueMind that can perform various tasks through the help of Artificial Intelligence. Such as automated compliance, efficient recommendation and business analytics. Tools like BlueMind use the data that is already available in your system to add greater productivity to your work schedule and your daily tasks.

Moreover, financial AI tools like these have the capability to perform various other tasks such as making credit decisions, starting integrated chats, or even spotting fraud!

Image Source: TechVidvan

It’s not just the financial world that is benefiting from AI. Other industries are also putting AI to good use. Healthcare industry has lot of use and potential for AI as well as space exploration. One of the common use case is the tech industry, which is serving billions of people.

 Google, for instance, has this AI tool that can ‘crawl’ through websites and have them ranked at the correct place in the Google Search Results. Facebook also uses AI to automatically tag you or someone else in the pictures that you upload on its newsfeed. Also, YouTube uses AI to detect channels/videos that violate its monetization policies or break any other rules.

In short, AI is all around us, and it is already being put to good use despite its smaller size. At the scope with which it is growing, who knows what our world would look like in only a couple of years thanks to advancements in AI technology.