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Future of Artificial Intelligence: What To Expect in 2024

The future of Artificial Intelligence is swiftly changing and revolutionizing every field. Artificial Intelligence is an innovative field which is developing at such a fast pace that it is important to keep up with the latest advancements in technology. As an AI development company, you must be aware of the latest developments in AI technology, and predictions, as they can transform the future. Notably, IoT development and ChatGPT development are at their peak right now. And most businesses are leveraging AI and related technologies and embracing innovation.

At present, AI can compete with humans, and even AI can write code like humans. Thus it may even overpower humans in specific skills. However, experts believe that in the future AI will also be capable of defeating humans in cognitive skills.

Therefore, we can say that AI is transforming the future of humanity as well as various industries. In fact, it is already the driving force behind emerging technologies we have today, like IoT, big data, robotics, etc. As well as generative AI, which is the prime technology behind ChatGPT, and more.

Rise in Artificial Intelligence

One of the major reasons behind the growth of Artificial Intelligence is that it affects evaluation and assessment. With the help of AI, computers can be trained on massive data. And used for decision-making and evaluations in just a few seconds that it would take for humans.

Ever since its inception in 1951, AI has come a long way. This is because AI has the potential for machine control robots to carry out tasks that are related to human intelligence. Thus AI is a branch of computer science whose aim is to develop smart machines that can imitate human behavior. Notably, AI has transformed most of the industries, including healthcare, education, real estate, and others. With innovation and development like AI generative models, emerging AI trends have certainly taken over most industries as it grows rapidly.

AI can be divided into three different categories:

Narrow AI is capable of revolutionizing dedicated tasks with human intelligence. The current phase of AI falls into this category.
General Human AI is the phase that refers to the machines that can behave and act like humans.
Super AI is the phase which refers to the sophisticated, informed and also have cognitive capabilities that are even better than humans. It is a phase where machines can perform the same as humans.

What Are Some of the Industries AI is Revolutionizing?

For a decade, Artificial Intelligence and its subset technologies have swiftly transformed most industries in different ways. Voice and face recognition which are widely used now are some of the examples of how AI has revolutionized industries. Thus, we can say that in the next ten years, AI will further grow. Further developments in AI will certainly make more advancements. Here are some of the widest sectors where AI is widely being used:

  • AI in Healthcare

    AI can assist healthcare professionals in making the right decisions through machine learning, and deep learning technologies. With the precision and totality of AI, it can be a great revolution in the healthcare industry. With capabilities like big data analytics, AI can help in finding out the diseases smoothly, and with precision. This can help with better diagnosis, drug discovery, even finding out patients’ data, and even finding virtual nursing assistants.

  • AI in Transportation

    Transportation is one field which is all geared to be completely revolutionized by Artificial Intelligence. Self-drive cars and AI travel planners are one of the most common examples of how AI is changing the transportation system. Although autonomous vehicles do not work that well today. In the upcoming time we are surely going to witness more advancements in this too.

  • Educational AI

    The education system has the potential to transform the students. A lot of courses include AI today. It will offer opportunities for students to learn more and get familiar with the latest technologies. AI uses natural language processing, machine learning and facial recognition to digitize textbooks, find plagiarism, and also gauge human emotions to determine the mood of the students. Presently, and in the future, AI will transform the learning experience for students.

  • Financial Services with AI

    It is quite interesting to see automation in the baking department. The current financial system has many loopholes, which results in mismanagement of money. With Artificial Intelligence for fintech solutions, we can expect a lot of revolution in the financial sector. AI can also offer more and better financial support, and change personal finance as well.

  • AI in Manufacturing

    Manufacturing can benefit a lot from Artificial Intelligence. Back in 1960-1970, AI-powered robotic arms and manufacturing bots benefited a lot to the manufacturing industry. Industrial robots notably work beside humans to carry out restricted tasks such as collecting, and predictive analysis sensors. It allows the sensors to work smoothly.

  • AI in Media

    The media field is harnessing the benefits of Artificial Intelligence. For example, automation can help with automated insights, which is useful in generating a series of report stories every year. However, as generative AI tools like ChatGPT and Google Bard have been introduced in the market, the question of their authenticity arises.

  • Sports Training with AI

    Modern machine learning algorithms can be very useful in sports training. It involves gathering data on a large scale. Also, AI can offer better feedback in sports like basketball and golf, by watching your swing and offering your changes.

  • AI in Shopping

    Amazon is already working on ways to make shopping easier with AI technology. Companies will use AI to provide product suggestions to the shoppers. And also make sure that the products are restocked automatically once they are sold out.

  • Customer Service with AI

    Most people fear getting a call from a robot. However, AI in customer service can provide customers with deeper insights into the customers as well as the provider. AI-based tools that are being used in the customer services industry are virtual assistants and chatbots.

Impact of Artificial Intelligence

Artificial intelligence technology can help boost productivity at workplaces. It allows employees to work more and focus on tasks that require more effort and time. As the future of Artificial Intelligence eliminates tedious and monotonous work, the human workforce is free to work on tasks that require more time. Thus people employed in such jobs are relaxed and happier.

Also, AI offers better diagnosis and monitoring potential, which enables a lot of development in the healthcare sector as well. This is to say that AI can help the medical sector and healthcare institutions to work better, lower the cost of operations, allowing them to save money. AI can also offer the potential to have personalized medicine routines and treatment plans. As well as offering data insights to medical institutions.

Having said that, when seen as privacy concerns. AI does not offer much scope, as privacy is not a major concern for AI. On the other hand, data thefts and privacy carries potential risk for personal data. And can also violate individuals’ rights and freedom.

What Does the Future Hold for Artificial Intelligence?

Artificial Intelligence has gained positive as well as negative publicity over the years. While AI is giving humans tough competition in fields like trivia games, and also games like chess that require human competence.

Also in circuit board detection, credit card fraud detection, artificial intelligence is being widely used. Again machine learning algorithms are widely being used in genetic algorithms. These have been widely used to detect computing issues like scheduling. Also, neural networks are being used to model but also understand humans. Also, it is widely used in basic industrial management and monitoring.
Significantly some of the most widely used AI technologies allow to search from enormous data sets, allow seamless search and  be used in semantic analysis. This allows users to easily search the content from billions of web page results.

Conclusion: Future of Artificial Intelligence

If you are thinking of what AI holds for different fields and sectors. Then you must know that AI is not going to take over your jobs any time soon. However, as discussed in the article Artificial Intelligence does possess a lot of scope and potential in different sectors like healthcare, education, retail, transportation and logistics, and so on. So it is obvious that AI can be tremendously used in automating the processes at workplaces to improve the efficiency and productivity of the employees.

Not to mention, how Artificial Intelligence has been shown in the media and, most of the Hollywood blockbusters, it has raised the possibility that robots will completely take over the jobs of most employees in organizations. After all, many jobs now have been totally mechanized and enhanced by technology. So it makes sense to worry about AI completely taking over human power. But do not worry, as it is not going to happen any time soon. Artificial Intelligence will only be used in conjugation to ease out the jobs of the workforce.

Significantly, AI will have a huge impact on major industries and various sectors. Therefore, AI development is at pace right now to tailor and meet up the requirements of the various sectors. AI along with its subsets like machine learning, big data, and deep learning are also leaving a huge impact on the industries. Thus future of Artificial Intelligence is promising and has a lot to offer.