Artificial Intelligence (AI) is the ability of machines or technology-driven devices to display human-like intelligence. It can collect, store and study all past human decisions and behavior by data analytics, providing better solutions within seconds. Consequently, it bridges the gap between decision-making and execution, enabling more intelligent and more efficient ways of working and living.
AI, which was once mostly a rage in the gaming space, is now a part of every industry — be it healthcare, cyber security, financial services, education, laser or robotic surgery, and what not! Emerging technologies like big data, robotics, and IoT (Internet of Things) would be difficult to imagine if AI didn't come into use. As talked about at various technology summits in 2022, it will act as a catalyst for innovation for the foreseeable future.
Years down the lane, let's see how AI can become an indispensable part of every sector:
Artificial intelligence promises solutions for ailments that presently have no treatment. For instance, new technologies equipped with AI can be used in epigenetics — a field that studies how environmental factors affect human genes. The future of AI in the health sector will be the treatment of diseases like cancer with a single injection and the creation of medicines that seem impossible today.
Imagine we have reached a point where robots are everywhere and running farms or companies like Apple or Berkshire Hathway. It will reduce or eliminate human error, ease, and time optimize effort, and it can create enormous prosperity for people in terms of jobs and fortune and in every aspect of life.
Today, educating young learners cost-effectively is challenging, but AI will change the equation. Yes! It might be possible that any individual, regardless of age and background, will be able to learn any subject. Through AI, simple methods can be formed and conveyed to people through visuals or audio. It will result in quick learning of new subjects, which would have taken longer without AI.
AI-enhanced software can predict the potential failures and outages, thus, making the energy sector more efficient and profitable. The losses faced by corporates and government infrastructure can be drastically reduced when AI comes into action. For example, India's AT&C losses are one of the highest in the world, posing a major challenge to the financial viability of the entire power sector. In the future, service providers will shift to artificial intelligence, machine learning, blockchain, and the Internet of Things (IoT) in the power distribution sector to analyze data available via the implementation of metering of consumers, transformers, and feeders in distribution areas.
To create sustainable new possibilities, artificial intelligence is the way forward. We are heading towards a time where maybe trees will have AI within them, calculating how much carbon dioxide they can hold and what amount of oxygen they produce! It is not just an illusionary statement. Artificial Intelligence may become a way of life, providing us with scope to discover the possibilities of human intelligence.