Globally, a new era of rapidly developing and interconnected technologies that combine engineering, computer algorithms, and culture is already beginning. The basic way we live, work, and connect will alter because of the digital transformation or convergence we will experience in the next years.
More remarkably, the advent of artificial intelligence (AI) and machine learning-based computers in the next century may alter how we relate to ourselves.
The digital ecosystem’s networked computer components, which are made possible by machine learning and artificial intelligence, will have a significant impact on practically every sector of the economy. These integrated AI and computing capabilities could pave the way for new frontiers in fields as diverse as genetic engineering, augmented reality, robotics, renewable energy, big data, and more.
Three important verticals in this digital transformation are already being impacted by AI: 1) Healthcare, 2) Cybersecurity, and 3) Communications.
Artificial intelligence: What is it?
AI is a “technology that appears to emulate human performance typically by learning, coming to conclusions, seeming to understand complex content, engaging in natural dialogs with people, enhancing human cognitive performance, or replacing people on execution of non-routine tasks,” according to Gartner.
Artificial intelligence (AI) systems aim to reproduce human characteristics and processing power in a machine and outperform human speed and constraints. Machine learning and natural language processing, which are already commonplace in our daily lives, are components of the advent of AI. Today’s AI can comprehend, identify, and resolve issues from both organized and unstructured data – and in some situations, without being explicitly trained.
AI has the potential to significantly alter cognitive processes and generate economic gains. According to McKinsey & Company, the automation of knowledge labor by intelligent software systems that can carry out knowledge job activities from unstructured commands could have a $5 to $7 trillion potential economic impact by 2025. “These technologies hold many interesting possibilities. According to Dave Choplin, chief envisioning officer at Microsoft UK, artificial intelligence is “the most important technology that anyone on the planet is working on right now.” Research and development spending and investments are reliable indicators of upcoming technological advancements. Goldman Sachs, a financial services company, predicts that by 2025, investments in artificial intelligence will reach $200 billion globally.
AI-enabled computers are made for automating tasks like speech recognition, learning, and planning and resolving issues. By prioritizing and acting on data, these technologies can facilitate more effective decision-making, particularly over bigger networks with numerous users and factors. Speech recognition, learning, planning, and problem-solving are some of the fundamental tasks that AI-powered computers are now being created for.
AI and Healthcare
AI is already transforming the healthcare industry in medication discovery, where it is utilized to evaluate combinations of substances and procedures that will improve human health and thwart pandemics. AI was crucial in helping medical personnel respond to the COVID outbreak and in the development of the COVID-19 vaccination medication.
Predictive analytics is one of the most fascinating applications of AI in healthcare. To forecast future outcomes based on a patient’s current health or symptoms, predictive analytics leverage past data on their diseases and treatments. This enables doctors to choose the best course of action for treating individuals with persistent diseases or other health problems. Google’s DeepMind AI team recently developed computers that can forecast many protein configurations, which is very advantageous for science and medical research.
AI will advance in predicting health outcomes, offering individualized care plans, and even treating illness as it continues to develop. Healthcare professionals will be able to treat patients more effectively at home, in charitable or religious settings, and in the office thanks to this power.
AI and Cybersecurity
AI in cybersecurity can offer a quicker way to recognize and detect online threats. The use of abnormal or malicious credentials, brute force login attempts, unusual data movement, and data exfiltration are all things that cybersecurity companies have developed software and platforms powered by AI to detect in real-time. They do this by scanning data and files. This enables companies to make statistical judgments and guard against anomalies prior to their reporting and patching.
To assist cybersecurity professionals, AI also improves network monitoring and threat detection technologies by minimizing noise, delivering priority warnings, utilizing contextual data backed by proof, and using automated analysis based on correlation indices from cyber threat intelligence reports.
Automation is undoubtedly important in the cybersecurity world. “There are too many things happening – too much data, too many attackers, too much of an attack surface to defend – that without those automated capabilities that you get with artificial intelligence and machine learning, you don’t have a prayer of being able to defend yourself,” said Art Coviello, a partner at Rally Ventures and the former chairman of RSA.
Although AI and ML can be useful tools for cyber-defense, they can also have drawbacks. Threat actors can also utilize them to detect threat abnormalities and improve cyber defensive capabilities more quickly. AI and MI are already being used as tools by malicious governments and criminal hackers to identify and exploit threats in threat detection models. They employ a variety of techniques to do this. Their preferred methods frequently involve automated human-impersonating phishing attacks and malware that self-modifies to trick or even defeat cyber-defense systems and programs.
Cybercriminals are already attacking and investigating the networks of their victims using AI and ML capabilities. The most at risk are small firms, organizations, and in particular healthcare facilities that cannot afford substantial expenditures in defensive developing cybersecurity technology like AI. Ransomware-based extortion by hackers who demand payment in cryptocurrency poses a potentially persistent and developing threat.
Communications & Customer Service (CX)
AI is also changing the way our society communicates. Businesses are already using robotic processing automation (RPA), a type of artificial intelligence, to automate more routine tasks and save manual labor. By utilizing technology for routine, repeatable tasks, RPA improves service operations and frees up human talent for more difficult, complicated problems. It is scalable and adaptable to performance requirements. In the private sector, RPA is frequently utilized in contact centers, insurance enrollment and billing, claims processing, and medical coding, among other applications.
Chatbots, voice assistants, and other messaging apps that use conversational AI help a variety of sectors by completely automating customer service and providing round-the-clock support. Conversational AI/chatbots have advanced and introduced new forms of human communication through facial expressions and contextual awareness with each passing day. The use of these apps is already widespread in the healthcare, retail, and travel sectors.
A wide range of business sectors have utilized AI technologies to produce news stories, social media posts, legal filings, and banking reports in both the media and on social media. The potential of AI and its human-like correlations, especially when expressing itself in textual analysis, have recently come to light thanks to a conversation box called ChatGPT. Another OpenAI program called DALL-E has demonstrated the capacity to generate graphics from simple instructions. Both AI systems accomplish this by synthesizing the data after mimicking human speech and language.
AI and Our Future
We need to consider any potential ethical concerns with artificial intelligence in the future. We need to consider what might occur if we use this technology and who will oversee it.
Algorithm bias is a serious problem. It has repeatedly been demonstrated. A recent MIT project examined several computer programming approaches to find viewpoints. Many of the programs, they discovered, had harmful biases. We need to consider biases while working with human variables in programming. Technology is made by humans, and humans have prejudices.
This is how technology can be bad. Human monitoring of technology development and application is a plus. We must ensure that the folks writing the code and the algorithms are as diverse as possible. Technology will be shaped to be more balanced if there is responsible oversight over the data input and response.
Understanding AI’s contextual nature is another issue. Algorithms that are programmed only display Xs and Os. It does not depict interactions or conduct between people. In the future, interactivity and behavior may be encoded into the software, but that time has not yet come.
The genuine hope is that we will be able to guide these incredible technologies we are creating in the proper direction for good. If we use them properly, each of them has applications that could help our civilization. It must be done by the entire world community. To keep things in check, we need collective research, ethics, transparent strategies, and proper industry incentives to keep AI on the right track.