The concept of artificial intelligence has been around for some time now, and there are major breakthroughs in AI technology. AI developers are making progress creating new applications.
There are tons of devices that use artificial intelligence because there are tons of artificial intelligence companies that deal in many spheres. Efforts over the past two decades have been primarily focused on the development of artificial intelligence and machine learning. That’s why we presented 6 mind-blowing facts you didn’t know about AI.
1. Investments in AI
In 2020, the total investment in artificial intelligence reached a soaring 68 billion dollars. This is almost 20 billion more than the previous year and over 50 billion than in 2016. Investments will only grow as technology advances. Companies invest in AI so much because, apart from business growth, there are many benefits to it:
- Improved customer service: The increasing use of chatbots that are there to answer the most common customer inquiries is improving customer service. Most times, an issue can be resolved easily.
- Efficient hiring process: There is a growing number of companies that use AI for analyzing applications for entry-level jobs. There are even companies that use AI for the initial interview.
- Improved brand loyalty: AI can create personas based on customer activity across different channels. This results in creating products that fit the needs of the customers and personalizing the experience and communication.
- Human error reduction: AI algorithms are often used to predict if an error in processes and operations is going to occur, and when it’s going to occur. This helps reduce issues in manufacturing.
2. AI Senses
Since the development of AI began, programmers have accomplished astounding feats, because as tech evolves, so does AI. From a simple algorithm that solves complex mathematical equations to something as remarkable as an AI with human senses.
There have been developments in AIs that have some human senses such as the sense of hearing and sight, which are not that surprising as we know that our smartphone assistant can understand voice commands, and our cameras have assistive AI that focuses the lens.
What is surprising is that there are developments in AI that can smell and touch. AIs that can smell can help identify gas leaks or even illnesses. Whereas the tactile ones can identify the texture of fruit and identify its freshness.
3. Writing and Reading
Another mind-blowing fact about AI is that it can read and write. The reading part is not only about it reading and narrating the text. It’s also about analyzing the text. This is how new materials are being discovered with AI. It’s a vital step in the AI revolution.
Artificial intelligence can analyze multiple sources at once, and it can save a lot of time for researchers in their fields of study. Another mind-blowing fact is that it can also write. There are many AIs that can do the writing instead of you. This means that eventually, an AI will read through different sources and write a summary of those readings.
4. AI Pets
The future where we’ll have AI pets is pretty close. There have been some unsuccessful attempts at introducing robot dogs to the average consumer, but maybe this time around robotic pets will actually be able to learn and behave like regular pets by combining artificial intelligence and machine learning.
5. Neural Networks
We’ve always strived to create something in our image. Well, neural networks are in the image of our brain. They are AI algorithms designed to mimic a network of neurons that we have in our brain. They might not be suitable for choosing partners, but they are good for other things.
This technology can assist us with the decision-making process, and it can reproduce the train of thought a person would take. These have a very widespread application in trading, business analysis, and planning, error forecasting, etc.
The network is composed of different nodes connected to symbolize the biological brain. These nodes act within three layers, the input, processing, and output layer. The neural network learns by comparing the output of the processing with the expected result and through repetition.
6. AI Jobs
One thing is certain, there are going to be job losses and new openings all around soon. As AI continues to develop, some jobs that are currently performed by humans will change.
AI can be a job killer, but it’s not necessarily the absolute truth. As AI develops, so does the need for the maintenance of that artificial intelligence. Although some jobs will be lost, employees can be trained in new skills that are more in demand.
Currently, there’s a lot of room for improvement in the corporate use of artificial intelligence. Instead of people losing their jobs, they can continue to work for the improvement of AI processes in various industries.
Automation is here, and it’s here to stay, and that’s why employees need to learn to work with it and make it better.
7. Brain Activity Interpretation
Finally, the most mind-blowing fact about artificial intelligence is that we can now use it to interpret brain waves and convert them into speech and action. The impulses that occur in our brains can lead to voicing entire sentences or even moving.
It’s incredible what these AI technologies can do for people who have difficulty speaking, or for the less fortunate. What’s mind-blowing is that these are AIs that can actually read your mind.
Conclusion
From soaring investments in AI, we’ve seen incredible developments in technology that learns how to hear, see, smell, and touch. It will only get better in the future as we make way towards more advanced neural networks and AIs that can work fully autonomously.
There’s no need to worry about the job market because there’s always going to be a need for some kind of work. It might not be the type of work that we are used to, but it could be even more interesting as we might get a chance to work alongside artificial intelligence.