Although Metropolis was released about 100 years ago, it took quite a lot of time for Artificial Intelligence to travel the journey from the big screen to our real lives. AI and Machine Learning have rapidly advanced, influencing industries and society in profound ways; nevertheless, here we are today, with every second of our existence in the curtain of AI.
You reading this article is no coincidence; it is because of the trained algorithm by Machine Learning(ML) that brought you here. Once you were lost on a journey then, Google Maps came to your rescue. Bingo! It was AI. You just thought of buying a certain product, and all your Google ads were flooded with it, not serendipity, my friend. It’s AI sneaking into your life without even letting you know. Last but not least, our very favorIte Alexa, Siri, and Google Assistant are the babies of AI and ML.
However, the topic of concern amidst all the automation and technical assistance that we have received through AI & ML is will they ever rule the world?
How does AL & ML leverage data and technology?
Artificial Intelligence has introduced us to the miraculous concepts of Speech Recognition, Facial Identification, Natural Learning Processes, and Neural Networks that have changed the way how essential sectors work.
Machine learning is the core branch of AI that deals with pattern identification and setting up algorithms with trained datasets to lead decisions without the requirement of human intelligence. Data classification, predictions, statistical arbitrage are some of the examples of ML.
The healthcare sector is now blessed with automated diagnostic technology that ameliorates clinical data and medical reports and provides an accurate diagnosis of the disease along with the therapy and prognosis of the patient. This has expedited treatment and revolutionized patient care in hospital settings. Along with this, ML has spun genetic and oncology departments to almost 360 degrees, accomplishing tasks of years in a matter of a few seconds.
Finance services deploy Artificial Intelligence Machine Learning to enhance security and statistical arbitrage to deal with the stock market more precisely. The defense sector has been exploring the potential of AI to upgrade its international security measures. The Project “Maven” introduced by the U.S army is the best example of the application of AI in military services.
The education sector is constantly innovating its pedagogical learning methods in association with AI-based tools to strengthen learning in classrooms and laboratories. Self-driving vehicles in the automobile sectors, CRMs, and cloud-based databases incorporated in IT sectors, GPS in transportation, and various aspects of real-time dynamics are some other examples of how AI along with ML makes data the center of the universe.
It is the data that undergoes processing millions of times, creating huge datasets which are further trained to develop algorithms to conduct a task chosen by the owner.
How does AI & ML threaten human existence?
Data is now the driving force of the world. Our every action is translated into binary numbers, giving birth to our replicas that work without human interference. This raises the question: do these computation facsimiles have the potential to substitute humans?
A recent study by McKinsey states that the world will witness the replacement of almost 800 million human employees by robots by the end of 2030. It is also expected to eliminate 375 million jobs currently done by humans.
However, there are two sides to every coin. The World Economic Forum took a savvy stand to this argument and reported that although technology is bound to replace more than 85 million jobs by 2025; nonetheless, it is also ready to implant more than 97 million new jobs and roles to run this technology-driven world.
The organization also cited that currently, 30% of tasks are accomplished by machines, with the rest 70% deploying human labor. By 2025, the world awaits a new equilibrium where it will be a 50-50 amalgamation of machines and humans on the job roles.
New jobs are expected to bring in prosperity, where automation will help the global economy to achieve an all-time high of $15.7 trillion in GDP.
The Last Note
Artificial Intelligence and Machine Learning singularity is a not-so-anticipated thought. However, one inevitable thing is the reskilling, re-education, and renovation of old methods of handling jobs.
