Artificial Intelligence (AI) relates to computer software that is designed and programmed to think and act like humans, i.e. learn from experience and adapt to new inputs. As Peltarion puts it, every positive leap for mankind has been fueled by intelligence, meaning AI provides the opportunity to massively expand our intelligence. AI is therefore a revolution that will transform and be an integral part of every company in the future.
Key industry drivers
Exponential growth of data & processing power
The AI technology is old but has only recently become available due to the improved computing power and big data. Graphics Processing Units (GPUs) are now 100x faster than CPUs. As for big data, 90 % of all data has been created during the past two years according to IBM. In addition, courtesy of modern cloud technology, the large datasets are accessible and structured. In addition, there is a large range of open source AI algorithms available.
Deep neural networks
Deep learning and deep neural networks are key driving forces of AI. Simply put, neural networks are built from a large number of nodes that model the neurons of the human brain. By exposing the neural network with loads of data of e.g. a car it can learn what a car is. Due to the advancements in computing power and big data, more complex neural networks with many more connections than before has been invented, meaning smarter AI.
Major savings & efficiency improvements
AI will lead to large savings of resources both in terms of money and time as it will optimize work and minimize risks. AI’s prospects are especially strong when it comes to replacing boring, repetitive “A to B” jobs, meaning humans can focus on more advanced tasks. Doctors will e.g. be able to do more important things than looking at pictures of tumors etc.
Ubiquity – AI everywhere.
AI has endless possibilities in all kinds of verticals such as, for example: Robotics, computer graphics/imaging, self-driving cars, improve education, optimizing the manufacturing industry or retail logistics, healthcare and medtech (e.g. detect diseases), predictions of all sort of things like demand, weather or natural disasters and customer interaction (e.g. chatbots).
The reason behind the billions and billions of investments in AI is the recent breakthroughs in computational power, massive datasets and deep learning (as mentioned above) that suddenly has made AI possible.