Suddenly, almost in a heartbeat, Artificial Intelligence is changing our World: what seemed impossible a few short months ago is now possible…and not just possible, AI has become an everyday part of our workaday lives. And we’re not just talking about teenagers here, stuck in their rooms and locked to their mobile phones: emerging technologies have radically reshaped global commerce at every level of society. University students in lockdown can expect to have their exam papers assessed by AI predictive technologies, and their online tutoring is already driven by AI (forget Gavin Williamson, the future’s in the box). Retailers are using AI to improve customer engagement (goodbye call centres, hello Chatbots), Banks are using AI to reduce credit card fraud and your Uber driver uses it to get you home. Robotics powered by AI are delivering vaccines along hospital corridors as you read this, using real time updates to avoid obstacles and trollies along the way. When you apply for your next job, your application will be reviewed by AI. It’s everywhere…and it’s big business.
According to the influential market research agency Tractica (www.businesswire.com), global AI is expected to generate an astonishing $118 Billion annually by 2025: 37% of companies have already implemented AI in one form or another, and the percentage of businesses using AI has grown by 270% in the last four years…95% of customer interactions will be driven by AI within five years.
Deep Learning is a key part of that process: from speech recognition to machine translation, language processing to vaccine design, deep learning technologies have matched and often exceeded expert human performance. And “deep” really does mean deep here, reconciling multiple layers within any given network and finding connections and links where there weren’t any before. Its why you can get a ticket for speeding when there isn’t a policeman within three miles…its why Google send you all those annoying “recommendations” for wedding rings when you announce your engagement on Facebook.
And combined with the increasing traction of Deep Learning, the pull of Big Data and powerful Graphic Processing Units (or GPU’s to the over initiated) has placed the whole system into overdrive.
As John Smith, Manager of Multimedia and Vision at IBM Research (www.research.ibm.com) put it: “We’re seeing deep learning have a huge new impact, whether it’s in speech or vision or some problem in natural language processing. This is going to continue for some time”.
You can say that again…
So whenever a business wants to introduce a new way of doing things, whenever we need a new design solution, making the complex simple and turning commercial ambitions into a reality…that’s where you’ll find Artificial Intelligence (however scarce or otherwise the commodity might be in Gavin Williamson’s Office at the moment). In a world where anything can (and does) change so rapidly, you need an algorithm that allows for and anticipates change.
Machine based learning is part of the process, so we’d better get used to it: self-driving cars and speeding tickets by post…Get ready for tomorrow.
AI and Machine Learning have had a huge impact on our lives over recent months: changing the way we all live, work and do business. It is, indeed, time to get ready for tomorrow…
Invest in Red Ribbon Asset Management
Red Ribbon is committed to identifying and building on investment opportunities that are fully in compliance with its core Planet, People, Profit policy: not only offering above market rate returns for investors but also protecting our Natural Capital.