AI: Hype or Reality?

AI is transforming the enterprise technology ecosystem. It is pervasive and represents the hottest topic on the Internet.

Everyone has opinion on it, but few of them get information about AI from academic resources, their research or work. Therefore, there is a lot of hype and misinformation and to fully understand and separate hype from the reality – let’s start from the beginning: What is AI?

artificial intelligence

What is AI?

Artificial Intelligence (AI) includes a wide range of subfields contained in automation, deep learning, machine learning, and robotics. In laymen’s terms AI can be referred to any agent that is capable of making decisions in a given scenario. The artificial part of AI means that the AI has to be trained and thought in a chosen environment in order to learn and perform its own decisions.

Ok- but is it replacing humans?

The stories about AI threatening the human kind and robot invasion were explained as enormously exaggerated idea however, there is a small part of truth to the idea. AI is suddenly everywhere promising entirely new ways of living and working similar to those seen in sci-fi movies, like self-driving cars and medical breakthroughs.

AI does do the math faster and automates the complex processes while saving a lot of money. In addition, it is truth that low skilled jobs and those that involve repetitive or predictive tasks will be replaced by automation or AI.

However – don’t worry, according to Gartner company recent reports, by 2020, artificial intelligence (AI) will generate 2.3 million jobs, exceeding the 1.8 million that it will wipe out. Instead of being worry what would happen we should use all the benefits of AI.

"Robots are not here to take away our jobs, they're here to give us a promotion – I think that's the way we should start looking at AI," - Bhat told CNBC.

AI and its subfields are very powerful tools that are transforming a wide range of industries and already redefining our lives.

artificial intelligence

So, what are the benefits?

AI and its subfields are very powerful tools that are transforming a wide range of industries and already redefining our lives.

AI is changing the companies interact with their customers. Emotional AI is applied to detect human reactions giving advertisers the power to create more tailored content and marketing. This results in truly unique user experience. The medical industry is using AI to improve medical diagnostics.

AI could boost the global economy by adding 1.2% to annual GDP growth over the next decade.

With all these benefits –the hype might be justified.