Artificial intelligence has created a huge marketplace for itself within the last decade. With its potential to transform everything from cloud computing to transportation, its no surprise that AI has caught many investors attention. According to The Motley Fool, a PwC report estimates that AI will contribute $15.7 trillion to the global economy by 2030. AI will make products and services better, and it is expected to boost North America’s GDP by 14% by that year.
What is AI?
Artificial intelligence is the term used for electronic intelligence. In computer science, artificial intelligence, sometimes called machine intelligence, is intelligence demonstrated by machines, unlike the natural intelligence displayed by humans and animals. Examples of AI would be for speech recognition, planning, problem-solving and marketing.
Artificial intelligence is a very controversial subject. Many people do not like the idea of AI as it is an electronic judgement which supposedly can analyse right from wrong. AI can be featured within many industries such as medical, automotive, technology and the educational sector. According to The Motley Fool, Tesla (NASDAQ:TSLA) CEO Elon Musk — who’s no stranger to advanced technology — has warned on multiple occasions that artificial intelligence could eventually be dangerous to people — and to humanity as a whole. He recommends some regulation around the technology and specifically wants a ban on any type of autonomous weaponry. Because some governments are already working on AI controlled weapons, his request sounds reasonable.
Despite great possibilities, Artificial Intelligence (AI) has many more potential flaws. Namely AI could create danger to individuals along with wildlife and data if there is a malfunction. For example, according to Sky News, Artificial Intelligence better than expert radiologists at spotting breast cancer. If all radiologists relied on AI to detect serious illnesses such as cancer and AI did not detect anything when cancer was present, this could result in serious consequences for the patient. Including this, there are many dangerous side effects to artificial intelligence that can occur such as programming defects. This could result in damage to other vehicles along with pedestrians.
Artificial Intelligence Working Its Way Through the Industries
AI within the medical sector has proven successful and reliable. According to ‘Sky News’, Artificial Intelligence better than expert radiologists at spotting breast cancer, the study says. This results in fewer mistakes made my radiologists and more accurate results for patients. The study found that an AI system developed by Google Health can identify cancer in breast screening mammograms with fewer false positives and fewer false negatives than radiologists.
AI is also featured within the automotive sector. The automotive sector is one of the fastest growing industries thanks to the latest technology and driving hacks. AI is featured within this industry in systems such as automatic braking, driver assist, predictive maintenance and driver recognition. Artificial intelligence within the automotive sector will result in devices constantly learning and adjusting to the rules of the road. According to Motley, the $127 billion autonomous vehicle market is being driven by AI. That is how much the self-driving car market is expected to be worth worldwide by 2027.
Within the next decade, I think artificial intelligence will be a huge trend within marketing divisions such as selling assets, promoting services, and collecting information. AI can be used in marketing by leveraging information from customers and delivering the right message back to them. Many other organisations are recognising that AI is the way forward. According to The NEWS Minute, Telangana has declared 2020 as the year of Artificial Intelligence (AI) and has signed several MoU’s with various firms and institutions.
Stated by SOS Electronics in a recent article, the most common tasks for machine vision (artificial intelligence) in manufacturing are:
- accurate and fast contactless measurement
- completeness inspection
- check for correct placement and quality
- navigating robots in space
Every type of task place specific requirements on embedded systems for machine vision. AAEON covers the entire field, from compact systems to deal with simple tasks such as object detection, to systems with Intel Xeon processor and slots for image processing accelerators based on GPU, VPU, or FPGA. Check what advice Marlo has given to the participants in the webinar recording.
What Do the Industry professionals Have to Say?
A quote from Jack Pollard, Sales Manager of The Electronic Component Show, Milton Keynes:
“It’s already clear by the success of Amazon’s Alexa that there’s a place for AI technology in the modern-day home. Consumers are buying into the idea of an easy life with music, diaries, weather, or traffic updates all quickly accessible with AI products. It will be interesting to see how AI evolves and comes to fruition in other sectors such as automotive, home appliances, defence and medical and whether we become dependent on it or not. Certainly, something to look forward to and it’s exciting to be part of the industry that’s leading this technological revolution.”
A quote from Microchip:
“Microchip sees AI as an exciting application area with significant growth potential – in both the Cloud Infrastructure as well as the Intelligent Edge. On the Edge, Machine Learning (ML) and the Internet of Things (IoT), applications are moving to the network edge where data is collected, requiring power-efficient solutions to deliver more computational performance in ever smaller, thermally constrained form factors. Intelligent vision is the fastest growing AI enabled Edge application segment and Microchip launched a Smart Embedded Vision initiative last July to provide hardware and software developers with tools, intellectual property (IP) cores, and boards for meeting the thermally constrained and small-form-factor requirements of edge applications using FPGAs. Expansion of our solution footprint into consumer, predictive maintenance and automotive segments using our extensive MCU and MPU portfolios are being planned. The Intelligent Edge is dependent on the Hyperscale Cloud Infrastructure for massive amounts of trained data, and our data center and optical transport solutions are already seeing tremendous success in enabling the interconnectivity and transportation of big data within the cloud infrastructure.”
How Can I Follow the AI Movement?
In my opinion there is great potential for businesses to succeed using artificial intelligence for marketing purposes along with product manufacturing. Along with this, data may become more accurate and reliable due to AI systems collecting data from digital movement of individuals. One example would be AI being used to spot malicious digital activity by collecting data from individuals web searches, money trails, interests, and contacts. AI will help organisations to overcome cyber security threats. Overall, Artificial Intelligence will be all around us whether we are aware of it or not. The rollout of facial recognition will likely intensify along with chatbots in customer service and curing illnesses. As a society will all have to adapt to AI and work with it to our best ability as it does not look like its fading out anytime soon!
By Amy Leary, Marketing Manager at eBOM.com!