- July 24, 2023
- Posted by: Aanchal Iyer
- Category: Artificial Intelligence
Artificial Intelligence (AI) is now a part of every aspect of our lives and society. From virtual assistants and chatbots to self-driving cars, it’s quite hard to ignore its impact.
Today, the technology most commonly used to be able to achieve AI is Machine Learning (ML). Software algorithms are designed to complete one specific task, such as translating languages, answering questions, or navigating a journey. Such algorithms are getting better as they are being exposed to more and more data. Worldwide, expenses by governments and businesses on AI technology will touch close to $500 billion in 2023, according to IDC research. How will this amount be used, and what impact will it have?
The Ongoing Democratization of AI
AI can achieve its full potential only if it is available to each person and every organization can benefit. Now this will be easier than ever. The AI functionality is at the tips of anyone, regardless of their technical skills due to the number of apps available. An example of AI is something as simple as predictive text recommendations that minimize the amount of typing to search or write emails. Also, some apps help us create sophisticated reports and visualizations with a mouse click.
If there is no app available that does what you need, then it is extremely simple to create your own, even if you do not know how to code, thanks to the number of no-code platforms. These help just about anyone to create, test, and deploy AI-powered solutions using simple drag-and-drop interfaces. Examples of these include SwayAI, used to develop enterprise AI applications, and Akkio, which can develop prediction and decision-making tools. Eventually, AI democratization will help businesses and organizations overcome the challenges posed by AI skills.
AI is typically known for automating routine, redundant tasks. While this is true, a developing branch of this science creates AI tools and applications that can mimic the most unique human skill – creativity. Generative AI algorithms take existing data –images, videos, or sounds and use it to build entirely new content.
The most popular generative AI model is GPT-3, created by OpenAI and capable of generating text and prose. A variant of GPT-3 known as DALL-E creates images. But in 2023, this technology will create synthetic data for businesses for all manner of purposes. With synthetic audio and video data, you need not capture film and speech on video. You simply type what you want the audience to see and hear and the AI creates it for you!
Ethical and Explainable AI
Ethical and explainable AI models are essential in the present day for a number of reasons, the most crucial reason being trust. AI needs data to learn, and often this means personal data. For most of the potentially most useful and powerful AI use cases, this may be very sensitive data, such as health or financial information. If we, cannot trust AI or understand how and why the algorithms make certain decisions, we just won’t feel safe with the information giving information.
In 2023, there will be multiple efforts to overcome the “black box” problem of AI. Stakeholders of AI will work harder to ensure that they can explain their decisions and what information has been used to reach those decisions. AI ethics will become increasingly prominent, as organizations will work towards eliminating bias from their decision-making systems.
Working alongside robots and smart machines designed to help us do our jobs more efficiently will become more common. This could be in the form of smart handsets providing us instant access to data and analytics capabilities. We have already seen this feature being in retail and industrial workplaces. In manufacturing or maintenance use cases, this could give us real-time information that can help us detect hazards and risks to our safety. Management and leadership teams will have access to real-time dashboards and reporting, offering an instant bird’s eye overview of operational effectiveness. AI-powered virtual assistants will also be more prevalent recommending efficient methods of accomplishing tasks.
In 2023 there will be huge pressure on organizations to minimize their carbon footprint and their effect on the environment. Continuous efforts to deploy greener and renewable energy-powered infrastructure is a part of the drive toward offering sustainable AI.
AI can drive sustainability in other areas of operation, too, for example, computer vision used with satellite imagery to detect deforestation and illegal logging activity in the rainforests. AI breakthroughs in medical science are creating a wave for almost a decade. So many industries have had a complete turnaround, thanks to the constantly evolving artificial intelligence. We should expect to see a constant drive toward the deployment of AI initiatives aimed at resolving some of the most pressing problems threatening our planet.
AI holds exciting possibilities for the future. However, to fully adopt and realize the potential of AI, brands need to strike a balance between ethics and innovations. This includes fostering an environment of collaboration. Researchers, businesses, and policymakers should work together to create strategies and guidelines for responsible AI use.