Artificial Intelligence is an emerging field in which humans are making machines that are capable of making decisions on their own. These machines or robots integrate information, analyze critical data, and make decisions on the basis of given information. It is a very advanced technology as robots are doing daily tasks like human beings.
But there is always a thing that is missing, common sense. Humans are making robots more accurate and making them able to make decisions with more precision. But they can’t replace the human brain. They can’t think logically and make decisions on their own common sense because here, technology has failed. Robots just make decisions on the information that already exists in them.
If humans make it possible to give common sense to robots, the worth of humans will be decreased. But this can’t be possible. Meanwhile, there are many other important applications that robots can do. Want to Know? Let’s start with it!
Infographic created by Donnelley Financial Solutions, an SEC filing software company
Qualities of Artificial Intelligence
There is no such a good definition of artificial intelligence but it refers to the machines/robots that respond well according to the information given to them. Human beings have trained machines to think brilliantly and judge things like humans. They can make better decisions somewhere than human beings but not always. Common sense is God-gifted and humans can’t place it in robots.
There are some other qualities that machines have:
- Intentionality
- Intelligence
- Adaptability
There are many algorithms that are used to predict informed decisions on the basis of information. They are not like the passive machines that are capable of mechanical and predetermined responses. They think on their own and decide on digital data, sensors, and other useful data gathered from different sources.
Top 3 Applications of Artificial Intelligence
AI is not an ordinary technology because it has a lot of applications in diverse sectors. AI is not only used to make robotics and machines but it also helps in the following sectors as well.
- Finance
- Healthcare
- National Security
Finance AI
AI has made it possible to make decisions in the finance sector. For the people who want to take loans, AI helps them to take their data automatically rather than background checks. Actually, these are the Robo-advisors that collect all the data from the people and reduce the workload of humans.
In the past, when a person wanted to take a loan from the bank, he used to fill out the forms manually and bank advisors verify their accounts by going to their own properties. These procedures take time and the person feels very annoyed if he is in an urgent case. But now, the loan procedures are very quick and fast just because of artificial intelligence.
A very good example of AI in finance is the stock exchange where artificial intelligence has replaced human beings with high-frequency trading. All the sales and buying orders are quickly matched without any interaction of humans. The great advantage of it is that we can safe from errors in the finance system.
Another very important factor in the finance department is fraud detection. There is a high chance of fraud in the finance sector as it is related to money. It is very hard to find fraud activities in the finance department but don’t worry, AI can assist you in fraud detection as well.
Healthcare
AI is evolving the healthcare industry with the latest technology such as Electronic health records, Electronic Medical Records, Image detection, and many others. There is a company in Germany named “Merantix” that applies deep learning and machine learning to medical issues. It has the most famous application in medical imaging that detects lymph nodes in the body.
The technology is very expensive and they charge up to $100 per hour. In one hour, there are probably 4 images that can be seen through this Computer Tomography(CT). Imagine, if the total images are 1000 images, the total cost of these images would be $25,000.
AI is also helpful in heart failure because it predicts the patient’s disease in advance. In the USA, the government helps the people to be aware of these fatal diseases and educate them. So, these diseases can be diagnosed in the early stages.
National Security
In the past, the American military has used AI for their sensitive information. They have stored the bulk data and videos through AI and analyzed the data for useful information.
The big data analytics related to AI will have a tremendous impact on intelligence analysis, as enormous volumes of data be sifted in near real-time—if not eventually in real time—providing commanders and their staff with hitherto unknown levels of intelligence analysis and productivity.
Army commanders will also be impacted when they outsource some regular, and in unusual instances, crucial choices to AI systems, substantially lowering the time involved with the decision and subsequent action. In the end, warfare is a time-consuming process in which the side that can make the most decisions and move the most rapidly to execution will usually win. Indeed, artificially intelligent intelligence systems linked to AI-assisted command and control systems may accelerate decision support and decision-making far faster than traditional means of warfare.
Final Words
AI has been the most innovative technology throughout history. As human beings are transforming the world through AI technology. But they can’t replace it with the human brain. The human brain has common sense and it can make decisions in real-time but machines/robots can make decisions on the information that we provide them. They analyze the digital data, integrate it, and convert it into some useful information.
There are many other important fields in which AI is used but the top 3 are listed in the above section. AI is used in Healthcare software development that helps in the diagnosis of fatal diseases. The military of the USA has been using it for a long time to store huge amounts of data and videos. Another major application of AI in Finance. It reduces the huge amount of work and helps to reduce fraud in this sector.
