Ever since the Stone Age, humans have been building tools to reduce physical labor. These mechanical tools were not limited by humanesque constraints – instead, they were much stronger, reliable, and relentless than humans could ever be. As time went by, a new relationship between man and machine spawned, and AI came into existence. This innovative technology enabled humans to make more efficient use of his time and do what they do best – imagine, create and innovate new things. The result was a dramatic increase in productivity that held the potential of heralding growth for economies and humans alike.
Why the shift from people-led to machine-led solutions
While the term “artificial intelligence” often conjures up “Terminator”-esque man-hunting, over-taking-the-world robots in most, it is far from truth (at least as of now!). More modestly, AI has been able to alter the way work is done. So, next time you go out shopping, don’t shy away from saying hello to your new shopping attendant, a robot that would help you shop your next party-wear!
AI’s ability to process information and complete tasks faster, better and in a much more efficient way than a human resource has led businesses to opt for AI-enabled products.
With AI-powered products mimicking human thinking (that too, without a coffee break!), a new era of industrialization is on the radar. Consider an example where AI powers virtual assistance. These virtual assistant-AI enabled products tap into other mobile apps, responds in a conversational tone, interpret complex requests and do more in a much faster and accurate way. Siri, Cortana, Google Now, Houndify, X.ai, etc. all quicken the actions you already take on your phone (and other devices) and over time, quickly and steadily, become more efficient in assisting by learning from your behavior. The result - happier customers and happier businesses.
One of the major constraints for most companies was taking care of their incompatible databases and protocols. Traditionally it required teams of analysts with understanding of different technology to traverse this maze. With products trained for thinking like these analysts, AI has made data, an indispensable component of the digital economy, become a fungible commodity that can be accessed, processed, used for enterprises’ benefit. Unlike traditional analytics, these AI enabled platforms learn to evolve according to market behavior changes and continuously deliver performances irrespective of volume or variety of data. (Boxx.ai)
What does this mean for India?
According to research, if we only consider AI to include computational devices and systems made to act in a manner that is deemed intelligent, then AI’s economic impact (even with limited advances) over the next 10 years is said to be between USD 1.49 trillion and USD 2.59 trillion.
AI is already spawning tools that replicate human judgments that are too complicated and subtle to be distilled as instructions for a computer. For India to start benefitting from this revolution, it must adopt a policy to begin its innovation, adaptation and proliferation beyond consumer goods and information technology services.
We don’t know yet if it would replace humans altogether. What we know is that, right now, AI is giving us a chance to crack our most pressing problems, and that too in real-time. And, since AI is here to stay, we might as well prepare ourselves better for this new world order and if possible, contribute to this evolution.
The article has been contributed by Mr Ajay Kashyap, Co-Founder, Boxx.ai