“Predicting the future isn’t magic, it’s artificial intelligence.” ~Dave Waters
Artificial Intelligence comes with colossal opportunities and threats. Whether it can go out of control or display undesired behavior or not is a debate that has been going on for long. Most of us are focused on AI’s impact on the world that we know today and how many jobs the machine will destroy. Yet we must consider what technology can improve and how much is about to change over the next 10 years.
This article includes an industry-wide view from a diverse array of leading experts. It also digs into the emerging trends and distills key insights that are reshaping the entire industries and the world at large.
Herein, we will round up the top 5 AI predictions and how AI will affect Our Lives in the Next Ten Years, but first here is a quick premier on where we are currently at with artificial intelligence. Currently, AI is in news for the following reasons:
How Artificial Intelligence will change the future?
Dr. Kai-Fu Lee who is an expert and authority ion the world of AI had said:
AI is going to change the world more than anything in the history of mankind. More than electricity.
AI will impact the virtuality of every individual and every business in the future. The effect of AI on transportation, manufacturing, healthcare, education, media and customer service will be hard to ignore. You could customize a movie of your choice, or get medicines which have been tailor-made just for you. AI will play an important role in al vital tasks, and can prove helpful for senior citizens or those who face a handicap. What AI holds for the future is masive and unattainable.
How can Artificial Intelligence benefit humans?
Every new technology has a downside to it too. Therefore, as much as AI may seem daunting, it does have countless benefits as well for mankind.
Enhanced automation can take up a lot of labor-intensive tasks in different industries and sectors. This will also reduce operational costs considerably.
AI can take over a lot of tedious tasks, thus leaving human beings the scope to focus on more creative aspects, and concentrate on their interpersonal relationships.
Exciting, isn’t it? Now let’s see what future of AI has in store for us.
1. Market Prediction on AI Adoption
The market for AI has grown tremendously in the last couple of years. Right now, approximately 1,500 companies in North America are developing AI applications including leading companies such as Microsoft, IBM, Google, and Amazon. This number is only expected to grow as institutions embrace AI’s ability to increase productivity through intelligent automation, labor and capital augmentation, and innovation diffusion through AI partnerships.
By 2020, 30 percent of all B2B companies will employ artificial intelligence (AI) to augment at least one of their primary sales processes, Gartner predicts.
Talking about review…
The annual global revenue from AI products and services will grow from $643.7 million in 2016 to as high as$36.5 - $100 billion by 2025, as mentioned in a report from Tractica.
Industry sectors including consumer products, business services, advertising, finance & investment, media & entertainment, and defense applications will drive significant revenue for AI software implementations in addition to AI-driven hardware and service sales, but during the coming decade, the technologies will have an effect on almost every conceivable industry sector.
2. AI and the future of Jobs
Now, this is important…
AI technology has already found its application and significance for different job roles, performing the same task humans do, with more precision and efficiency. There is a lot of speculation about AI overtaking all human jobs.
Experts envision automation and intelligent digital agents permeating vast areas of our work and personal lives by 2025, but they are divided on whether these advances will displace more jobs than they create.
However, we have a good news for you --
According to a prediction by Gartner, in 2020, AI becomes a positive net job motivator, creating 2.3 million jobs while only eliminating 1.8 million jobs.
“Far from killing the jobs of knowledge workers, this tends to free them up to do what they are paid to do–innovate, model, refine, and improve on the expertise of their business.”, says Matt Gould, chief strategy officer at Arria NLG, U.K.-based company.
3. AI to outrank Social Media
“In the next few years, AI will outrank industry staples like social media in terms of business value by helping to streamline every aspect of work. We’re already seeing this in the short term, for example, it is projected that by 2018, there will be 6 billion AI connected devices and over half of CMOs believe that AI’s impact on the business world will be more pivotal to the future of work than social media’s shake up one decade ago.” says Zach Holmquist, CTO and Co-founder of Teem.
4. The workplace of the future
AI, internet-based applications, consumer technology, and computing power in smaller devices will change where and how we work. Smart machines will get smarter as we move beyond pure automation. Adopting AI across day-to-day tasks and between client conversations will provide employees back time to work on other items on their to-do list.
According to Shaun Ritchie, CEO and co-founder of Teem, “Scheduling meetings, booking rooms and reserving resources is a job in and of itself and 80 percent of executives believe AI will eliminate this issue in the near future. Meanwhile, virtual home assistants will be an everyday staple of every workplace – personalizing interactions, automating meeting scheduling, monitoring the environment and anticipating employee and office behavior.”
"Stolen conference rooms, unused tech tools and the like will be dated issues as AI will spur convenience, efficiency, and productivity."
Employees will soon expect a contextualised, data-based experience from their employers in much the same way customers do.
5. Artificial Intelligence and Cyborgs
How can humans stay relevant in an age of artificial intelligence?
Elon Musk thinks cyborgs are the answer.
Although cyborgs still appear to be a far-off reality, the advancement in AI technology and stem cell research together are making it a brighter possibility in the years to come.
Human and AI technology are quickly becoming one tightly coupled cognitive unit. The marriage of humans with technology will not only compensate for human disability but also drive human capacities beyond our innate physiological levels.
To sum up,
“AI promises to be the most disruptive class of technologies during the next 10 years,” says Gartner’s John-David Lovelock.
Although these predictions stir up lots of excitement, there are some open-ended questions that future has in store for us like
- When we use Google Home or Amazon Echo, are we entering into a “social contract” where we give up privacy for the sake of convenience?
- When it comes to health care or self-driving vehicles, can AI be trusted to make life-and-death decisions?
Nevertheless, the future promises less hype and hot air about AI and a lot more action.
I’m wondering what you think about the future of AI. Please share your thoughts in the comments section below.