Humanity has undergone three past technological revolutions:
- First water technology,
- Later electronics,
- And lastly computers.
Now, we are in the midst of the fourth technological revolution, one powered by artificial intelligence and big data. I want to refer to it as the “Intelligence Revolution” but no matter how we address it, one aspect is pretty clear: this new development is going to change the world and the industries, much more as compared to the three prior technological revolutions.
AI gives intelligent machines the power to “think” and behave in a manner in which only the human can behave. This ensures that they will understand the environment around them, absorb and benefit from learning, make choices on the basis of what they have learned, and then take reasonable action without much human interference. It’s the ability to learn from and act on the basis of data that is very crucial to the Information Revolution, particularly because of the sheer volume of data that is generated every day. AI needs volumes of information to learn from, as well as understand and interpret the trend and act smartly.
Artificial Intelligence is no more a new concept now. The concept of making smart machines has been around for decades. Why is AI transforming all of a sudden? The response to that question is twofold:
We have had more information than ever before. All that we do generates data. Owing to the growing digitization, we today, have exposure to more data than ever before, which ensures that AI has been able to evolve even smarter, quicker, and more precise in a very short period of time. The more access we have to smart devices, the more they can learn, and the more reliable they are when processing the data collected. Think about Spotify ‘s suggestions as clear evidence. The more music you listen to through Spotify, the better suggestions Spotify can provide about what next would you like to listen to. Netflix and Amazon reviews are, of course, operating under the same concept.
Impressive advances in computational capacity make it possible to analyze and make sense of all the details. Thanks to developments such as cloud storage and distributed processing, we now have the power to access, manage, and interpret data on an unparalleled scale.
Intelligence Revolution: “Impact on own business”
In reality, any company would have to be smarter – from small start-ups to multinational companies, from digital natives to more conventional businesses. Organizations in all types and sizes would be influenced by the Intelligent Revolution.
Take a relatively conventional market, such as agriculture. Agriculture is experiencing major shifts as robotics is being used to intelligently schedule what crops are to be grown to optimize production and operate more smartly. The whole idea revolves around avoiding over-production and under production issues, which is a major concern in the whole world. Data and AI will help farmers track soil and weather conditions and crop quality. Data is also obtained from agricultural machines in order to increase the performance of system maintenance.
Intelligent devices are being built which can classify and delicately select soft ripe tomatoes, sort cucumbers, and detect pests and diseases. The idea of a conventional, bucolic farming is pretty traditional. Farms that fail to grow fear being left behind. This is the effect of the intelligent revolution. All the sectors are rapidly changing. Innovation and transition become the modern standard. Many that can’t use AI and data to boost their company – no matter what their industry – would fail to succeed.
As with each of the past technological revolutions, the Technology Revolution would fully change the way we do business. For organizations, this may imply that organizations need to rethink about the method of producing and selling goods, satisfactory delivery services, rethink the day-to-day business processes, or maybe even rethink the whole business model.
There is no scope to Determine about the good and bad impact of AI now:
When it comes to AI, people can be segregated into one of two clusters. They are also enthusiastic about the possibility of a sustainable future in which smart computers may overcome the biggest problems of mankind, make the planet a safer environment, and simply make our everyday lives simpler.
Then there are others who think that AI marks the beginning of the end, the advent of a modern age in which intelligent robots supersede humans as the primary mode of life on Earth. AI can be used in immoral and unethical ways also but there is no point in the discussion as no matter if you are a follower of AI or not, the Intelligent revolution is heading your way. Technology is just progressing in one direction – upwards, into an even more sophisticated world. There is no way out of this at this point in time.
It is not that people and companies do not understand the consequences of AI or strive to ensure that AI is implemented in a legal, equitable way – one that supports society as well as the bottom line. But it’s necessary to realize that AI can’t be overlooked. Each business leader must come to grips with this reality and take steps to plan his organization accordingly. This involves finding out when can AI make the most contribution to your company and creating a comprehensive AI plan that guarantees that AI provides optimum benefit. AI will have an effect on companies across all types and sizes in all sectors.