ARTIFICIAL INTELLIGENCE AND ITS SCOPE
What is Artificial Intelligence or ‘AI’?
One of the most appreciated traits in humans is their intellect. Through the generations, intelligence in man has developed rapidly and we've succeeded in transferring the intellect to machines in a manner where they are enabled to understand and comprehend instructions and perform tasks. This dawned the birth of the term ‘Artificial Intelligence’ or more commonly referred to as "AI" which is widely being incorporated in every possible field, ranging from our houses to beyond the skies in the International Space Station.
Remember Jarvis from Iron Man?
Yeah, that's Artificial Intelligence at its best! AI isn't just a feature where a standard set of instructions are fed into a boring old machine which restricts the capability and performance of the system, AI is limitless. It has the ability to learn, remember and develop its own opinion by applying two advanced techniques - ‘Machine Learning’ and ‘Deep Learning’.
The growth of Artificial Intelligence has been so remarkable that renowned legendary cosmologist Stephen Hawking has predicted a threat to the human race caused by the incredible potential it possesses. Hawking’s Speech Tech itself was a type of AI developed by Intel.
The most popular forms of AI nowadays are digital assistants like Siri, Alexa and Google Assistant. It has brought technology closer to the general masses and has also created a great impact on society and the market.
What can you do with AI?
AI can be used to automate processes and provide unbiased opinions and results; basically eliminating the possibility of human error. AI has already been implemented in industries where they’re used to develop marketing strategies by analysing data, developing business models, automating inventory and simplifying complex arrangements. AI also has the ability to perform cognitive thinking, which has proven to be quite efficient.
So is AI a Job Killer or a Job Creator?
As of today, Artificial Intelligence runs on algorithms which have not achieved maximum efficiency or perfection. Hence, currently, the threat of AI replacing man-force isn’t a threat as there is further scope for developments and improvements. There is future possibility and threat of self-optimising algorithms, but it is pretty distant.
AI requires a specialised skill and logic that is in great demand in today’s market. Thus, considering the current scenario, AI is a job creator, and the future is yet to be predicted.
How TIF Labs plans to incorporate AI to impact society?
TIF Labs is working on ground-breaking technologies in the Healthcare, Hospitality and Sports industry. Our solution will not only create an atmosphere of luxury, but with AI we are working on innovations that will help the industry to improve their efficiency and analyse existing processes.