As quoted in the latest report by research firm CB Insights “AI applications today focus on very narrow tasks. But together, these narrow AI-driven tasks are reshaping businesses, markets, and industries,”
Artificial intelligence has the potential to offer $15.7 trillion to the global economy by 2030.
From the recommended books on Amazon to suggested film or TV show on Netflix to the nearest pizza shop, we are interacting with AI on a daily basis. These may seem like small, insignificant interactions, but on a larger scale, the technology behind them is transforming nearly every industry globally.
1. AI for Intellectual Content Creation
Based on data inputs and other analytics, companies in major industries are turning to AI-powered content generators to create on-demand advertisements, articles, promotional material, websites, and other published content. These include automated writing and image/ video production tools that create specific content for targeted audiences based on data and learning algorithms.
In the near future, AI will generate hyper-personalized natural language that will be virtually indistinguishable from the human-developed text. This will help businesses generate low cost, lightning quick, and meaningful content.
2. DIY AI - Build your own AI
Now you don’t have to be a data scientist or software engineer to build your own AI. To give makers and budding engineers the power to build AI into their projects, Google launched two do-it-yourself kits last year.
As of now, these kits are available in two variants viz. the Voice Kit and the Vision Kit. The former lets you build your own intelligent camera that can see and recognize objects using machine learning, while the latter lets you build your own natural language processor and connect it to the Google Assistant. All of this fits in a handy little cardboard cube, powered by a Raspberry Pi.
3. AI Fraud Detection
Security company McAfee, in its latest report, estimates that cybercrime currently costs the global economy some $600 billion, or 0.8% of the global gross domestic product. For decades, fraud has long been a major concern for the financial services sector. And the danger is increasing with the rise in global transactions. One of the most dominant forms of cybercrime is credit card fraud, which is intensified by the growth in online transacting.
The good news is, artificial intelligence has enormous potential to reduce financial fraud. As automated fraud detection tools get smarter and machine learning becomes more powerful, the outlook should improve exponentially.
4. AI is Going To Disrupt The Sports Viewing Experience
Artificial Intelligence (AI) is gaining popularity as it covers several areas within the sports domain. Researchers from the German Technische Universitat of Dortmund, the Technical University in Munich, and the Ghent University in Belgium has developed an AI system to analyze FIFA rankings, each country’s population and their Gross Domestic Product (GDP), bookmaker’s odds, how many of the national team players play together in a club, the player’s average age, and how many Champions Leagues they have won, to predict player as well as team performance – making the technology indispensable to business decisions and team composition.
The Japanese government plans to build a system using artificial intelligence to ease spectator congestion at the 2020 Tokyo Olympics and Paralympics. The system will help guide spectators to less crowded exit routes at competition venues. It will also help effectively dispatch security guards to locations where particularly large crowds are expected.
The Renault Sports Formula One team is now working on a digital transformation plan for the next major F1 event. Designers are working with Microsoft HoloLens that will also give fans the option of understanding the mood of the driver as he races towards the checkered line.
5. AI as a forecaster
AI can predict when we'll die
Using AI, Google can predict when a patient will DIE with 95% accuracy. Google has a new algorithm that can quickly sift through thousands of digital documents in a patient's health record to find important information. This enables the technology in some case to make better predictions than doctors about how long a patient may stay in a hospital or when the likelihood that the patient may die.
AI can predict how you’ll look decades from now
A recently developed AI system is able to forecast how a human will look as they age in the coming decades and on top of that, it can also reverse the effects of aging in photographs of people’s faces, making them appear 10 years younger. This will help Police to search for a long-lost person or fugitive.
AI can predict your personality just by how your eyes move
The eyes are truly the mirror of the soul. Researchers from institutions in Australia and Germany have developed technology that can predict the personality traits of humans based on their eye movement. This will help robots better understand and interact with humans.
"By far, the greatest danger of Artificial Intelligence is that people conclude too early that they understand it." - Eliezer Yudkowsky, AI researcher