Over the last century, technology and research and development all around the world have made an exponential progress which has led to change the way the world functions. All around us, we see technology blooming starting from cars, to transport, to entertainment and now in businesses as well.
Businesses have been making use of technical advancements in order to boost their productivity and those that are doing it have proved to be very efficient in the market. Those businesses that have failed or refused to adapt to these technical advancements have failed miserably.
The next step in the technological world is going to be the emergence of Artificial Intelligence (AI). If AI develops and fulfills its potential, it is going to create a lot of difficulties for workers as they will be forced out of jobs. However, let’s look at what AI is and how it is going to affect business and daily trading activities.
What is Artificial Intelligence?
Artificial Intelligence refers to giving human characteristics and personality traits to a computer software or any other form of technology. These traits include the ability to solve problems, planning and learning. However, artificial intelligence is one vast term and does not give us a specific definition. Already there are some subdivisions in the world of artificial intelligence, which we have to look at in greater detail.
Machine learning:
Machine learning is a branch of artificial intelligence that deals with data analysis and processing of various kinds of information. This is mostly used by businesses that have a lot of data to store and then time after time that data needs processing and analysis.
For example, a manufacturing business or factory has a lot of information to store about its machinery and its computers connected to their machines. All the small pieces of information can be stored with the help of machine learning. The more information you feed, the better this algorithm and software would work in processing and analyzing.
Sometimes there is so much data and information that a human cannot remember all of it and hence, cannot analyze which data to consider. However, with the help of machine learning, even the smallest details can be stored and there is no need to worry about the data being forgotten.
A simple example of machine learning is when you connect it to the factory equipment and plant. Machine learning algorithms will help analyse the speed and productivity of the factory plant. It will notify immediately when the plant is not as productive and producing less units than normal. This will save your plant from further depreciation or even a breakdown.
Deep learning:
Deep learning is an advanced level of machine learning. It is made up of artificial neural networks, inspired from the human brain. This sounds totally impressive that the science and research and development departments have advanced so much that they are now making a model of the human brain.
Just like the human brain, when we do tasks repeatedly, we keep on learning and step by step we keep improving. Similar is the case with deep learning. This learning algorithm keeps on improving at that task time after time because the data which is stored helps them in future tasks. This means that over the course of time, this software will improve its performance and productivity and be more efficient over time.
The term deep learning is suitable for this form of artificial intelligence because just like the human brain, it has a lot of layers in which the data and information is stored and analyzed. It can also perform a number of advanced functions, such as detecting frauds.
Deep learning algorithms are the branch of artificial intelligence that a lot of workers are scared of because this system can help businesses replace workers.
Example of artificial intelligence:
A business that can definitely use artificial intelligence algorithms is the photography and videography businesses. This business requires a lot of editing, colour grading and other improvements in order to make the final outcome better. A lot of businesses are already making use of artificial intelligence to aid in their daily work of photographs.
An example of such a venture is Slazzer. This website makes use of artificial intelligence which identifies the subject in the picture and helps to remove background of the picture, in no time. You can then choose from various other backgrounds to put in your picture.
Therefore, if you are also looking to eliminate a background from your pictures, visit their sites. Their system is such that they can remove backgrounds from hundreds of pictures within seconds.
Artificial Intelligence’s current and future position:
Artificial intelligence is categorized as the second wave of technological advancement. Many countries could not even exploit the current technology and here is another exponentially advanced one that is risking people’s jobs.
Artificial intelligence can help a lot of industries in many ways. Even restaurants and financial departments can make use of artificial intelligence to aid in their daily operations. However, the question is whether institutions are willing to take the risk and invest in AI or not. There are still not many businesses making use of AI but with the looks of it, they would need to if they do not want to compete against rival firms and industries.
A major setback for artificial intelligence is that humans still have the upper hand as far as common sense is concerned. According to reports, the next advancements will help AI to have improved common sense.
A lot of renowned analysts can predict that artificial intelligence is going to take over the world by storm. Even restaurants would have to make use of AI in order to select music from its playlist.
Bottom line:
All of the above details indicate that humans can be replaced very soon with the emergence of artificial intelligence. A lot of unemployed people can cause severe unrest in the world and it is not good for the leading economies. However, if AI is used with human intelligence, and not replaced, a lot of problems will be solved. There will be no risk of unemployment and businesses can gain advantages of both the AI and human common sense.
Company name: Slazzer.com / Netflairs Technology Pvt Ltd
Number: +1 (514) 915-5833
There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation.
