About:- Artificial intelligence (AI) is a wide-ranging tool that enables us to rethink how we can integrate information, analyze data, and use the resulting insights to improve the quality of decision making—and already it is transforming every way of life. In this article, we will discuss AI’s application across a variety of industries, address issues in its development, and offer recommendations for getting the most out of AI and on the other side still protecting important human values.
Table of discuss points
I. Qualities of artificial intelligence
II. Applications in diverse sectors/Industries
Our agenda through this comprehensive article is to explain AI to an audience of policymakers, market leaders, and interested observers, and demonstrate how AI already is altering the world and raising important questions for our society, our economy, our governance and our day today life.
I. QUALITIES OF ARTIFICIAL INTELLIGENCE:– There is no uniformly agreed upon definition, AI generally is thought to refer to “machines that respond to stimulation consistent with basic expected responses from humans, given the human capacity for contemplation, judgment and intention. According to researchers software systems can make decisions which normally require human level of expertise and help people anticipate problems or deal with issues as they come up. As such, they operate in an intentional, intelligent, and adaptive manner.
AI algorithms are designed to make decisions, often using real-time data. They are unlike passive machines that are capable only of mechanical or predetermined responses. Using sensors, digital data, or remote inputs, they collect the information from a variety of different sources, analyze the material instantly, and act on the insights derived from those data. they are capable of tremendous sophistication in analysis and decision making. Alexa , Ok Google , mobile face reading feature and online video and content suggestion are the perfect examples of AI control in our day’s today life.
II. APPLICATIONS IN DIVERSE SECTORS
Artificial intelligence systems have the ability to learn and adapt while making the decisions. In the transportation area, as example, semi-autonomous vehicles have tools that let drivers and vehicles know about upcoming traffic , potholes, highway construction, or other possible traffic impediments. Vehicles can take advantage of the experience of other vehicles on the road, without human involvement, and the entire corpus of their achieved “experience” is then and there and fully transferable to other similarly configured vehicles. Their advanced algorithms, sensors, and cameras incorporate experience in current operations, and use dashboards and visual displays to present information in real time so human drivers are able to make sense of ongoing traffic and vehicular conditions. And in the case of fully autonomous vehicles, advanced systems can completely control the automobiles , and make all the navigation and important decisions.
Investments in financial AI in the United States tripled between 2013 and 2014 to a total of $12.2 billion. According to a survey in that sector, “Decisions about loans are now being made by software that can take into account a variety of finely parsed data about a borrower, rather than just a credit score and a background check.
This is taking place in stock exchanges, where high-frequency trading by machines has replaced much of human decision making. People submit buy and sell orders, and computers match them in the blink of an eye without human intervention.
AI has such a substantial role in national defense. Through its Project Maven, the American military is deploying AI “to sift through the massive troves of data and video captured by surveillance and then alert human analysts of patterns or when there is abnormal or suspicious activity. AI is being used all around the world in security matters.
Health care Industry
AI tools are helping designers improve computational sophistication in health care.AI has been applied to congestive heart failure as well, an illness that afflicts 10 percent of senior citizens and costs $35 billion each year in the United States.
To conclude, the world is on the way of revolutionizing many sectors through artificial intelligence and data analytics. There are already significant deployments in finance, national security, health care, transportation, and smart cities etc that have altered decision making, business models, risk mitigation, and system performance. These developments are generating substantial economic and social benefits.
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