The current landscape of the payments industry is a constantly expanding one pertaining to its substantial shift into digital platforms. This shift is exponentially raising…
There is a lot of automation happening in our world. Things that were mundane and boring are being replaced with effective technologies to reduce hurdles. The advancement in technology has helped humanity to take a huge leap towards the not so distant beautiful future.
The introduction of Artificial Intelligence has impacted every industry there is. Tech, Healthcare, Law, Agriculture and many more, there’s nothing that AI won’t able to assist. But like any other technology AI is continuously evolving. There are still a lot of things that are happening, opening the doorways to industries which humans are still exploring the potential of.
A few trends from its many applications helping it thrive are:
Creating Effective Softwares via Reinforcement Learning
It is the latest and the next big thing in AI. It is one of the paradigms of machine learning along with unsupervised and supervised learning. It is a type of machine learning algorithm inspired by the behavioral psychologist. How a child learns, or how a dog understands after receiving training to perform certain actions are the perfect of example of Reinforcement Learning (RL).
The framework is driven by user-experience decision making rather than data-recognition. It means the software agent trains itself learning via the experiences it receives in a specific context rather than relying on the purely on data that is being fetched.
The prospects of Reinforcement learning is that it will increase the efficiency of sectors such as manufacturing, inventory and delivery management. It is also being implemented to develop computer games. Developing effective strategies in the finance sector for evaluating trading is also one of its distinguishable factors.
The Era of Neural Network
It is one of the closest things which is being developed by replicating the biological neural network having capabilities and functionalities, encompassing like an animal’s brain. It can store data, images, text or time and use the information to clarify and group the information.
Choosing the right framework was always a challenge since developers and data scientists have to choose a framework from many available and stick to it. To address this problem AWS, Facebook and Microsoft have collaborated and built a framework that will allow interoperability. This collaboration will give new opportunities to scientists and developers and help them to explore new ways to improve the predictions in the stock market, robotics to understand their environment, Ecommerce, find appropriate drugs and even compose music are just a few of the many applications of Neural Network.
Reforms in Privacy and Policy
Integrating new technologies, not always have benefited as we have witnessed throughout history. The products that were invented to improve the daily lives of humanity, end up becoming products that can be destructive to our private life.
Products such as social media apps have a huge amount of data about us. It has valuable knowledge such as our likes and dislikes, our needs and wants, the people in our social life. The camera’s we used for security can also be hacked and it can provide valuable information to people with not so good intentions. Some applications have also been found biased to a certain group of people.
To tackle this, governments around the world have taken initiatives to ban such practices by creating policies. One such example of this is the EU’s General Data Protection Regulation which ensures that the data of an individual is protected and ensures that organizations approach data privacy ardently. Countries and legislators are making serious reforms to address problems regarding privacy and policy and will continue to make changes as necessary per innovations in AI. Standards are being set to ensure safety, transparency, and awareness on the complexity of AI and hold one’s privacy a priority.
Since the introduction of AI, people have had speculations about its impact. Many still believe that AI would take away jobs and leave millions of people unemployed. It is true, AI would eliminate the most mundane jobs but there will be a huge demand for jobs in industries(agriculture, manufacturing, inventory management, etc.) to enable jobs with new technological skill set. For example, jobs are getting scarce in industries like manufacturing, renewable energy, since the rise of robotics, but there are jobs like Data Scientist, Machine Learning engineer, software engineer jobs in Augmented reality(AR), Virtual reality(VR) are on the horizon with huge potential for an individual career. But it is not necessary that all the high potential jobs will be related to technological roles, high-touch jobs such as customer service representative, teachers, caregivers, chefs, etc. Will also be in equal demand.
Facial Recognition System
Today in the increasing highly advanced mobile era, smartphones have enabled humans to do almost any task they desire. As such losing one’s smartphones even though most of the data is cloud-based can still leave them vulnerable. To combat this and many other examples not allowing any other person to impersonate, facial recognition has emerged.
Facial recognition, a technology capable of identifying or verifying a person from a digital image or video source. It is dominating the biometric identification. It enables people to unlock their phones, helps them in all forms of transactions, assisting law enforcement for finding missing persons, criminals, and aid in forensic investigation.
Such is the diversity of applications of AI. Some notable trends that are not mentioned above are quantum computing, Natural language processing, deep learning, the intersection of IoT and blockchain. Since its inception, the trends that are emerging have always lead to a path in the service of humanity.
AI, still is not perfect. It is continuously changing and there’s a lot of things to be discovered, but the importance it will bring to human existence will indeed shape our future in unimaginable ways.