What is Artificial Intelligence (AI) and why is it important?

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What is Artificial Intelligence?

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks. Most AI examples that you hear about today – from chess-playing computers to self-driving cars – rely heavily on deep learning and natural language processing. Using these technologies, computers can be trained to accomplish specific tasks by processing large amounts of data and recognizing patterns in the data.

The term artificial intelligence was coined in 1956, but AI has become more popular today thanks to increased data volumes, advanced algorithms, and improvements in computing power and storage.

Early AI research in the 1950s explored topics like problem solving and symbolic methods. In the 1960s, the US Department of Defense took interest in this type of work and began training computers to mimic basic human reasoning. For example, the Defense Advanced Research Projects Agency (DARPA) completed street mapping projects in the 1970s. And DARPA produced intelligent personal assistants in 2003, long before Siri, Alexa or Cortana were household names.

This early work paved the way for the automation and formal reasoning that we see in computers today, including decision support systems and smart search systems that can be designed to complement and augment human abilities.

While Hollywood movies and science fiction novels depict AI as human-like robots that take over the world, the current evolution of AI technologies isn’t that scary – or quite that smart. Instead, AI has evolved to provide many specific benefits in every industry. Keep reading for modern examples of artificial intelligence in health care, retail and more.

Why AI is important?

  • AI automates repetitive learning and discovery through data. But AI is different from hardware-driven, robotic automation. Instead of automating manual tasks, AI performs frequent, high-volume, computerized tasks reliably and without fatigue. For this type of automation, human inquiry is still essential to set up the system and ask the right questions.
  • AI adds intelligence to existing products. In most cases, AI will not be sold as an individual application. Rather, products you already use will be improved with AI capabilities, much like Siri was added as a feature to a new generation of Apple products. Automation, conversational platforms, bots and smart machines can be combined with large amounts of data to improve many technologies at home and in the workplace, from security intelligence to investment analysis.
  • AI adapts through progressive learning algorithms to let the data do the programming. AI finds structure and regularities in data so that the algorithm acquires a skill: The algorithm becomes a classifier or a predictor. So, just as the algorithm can teach itself how to play chess, it can teach itself what product to recommend next online. And the models adapt when given new data. Back propagation is an AI technique that allows the model to adjust, through training and added data, when the first answer is not quite right.
  • AI analyzes more and deeper data using neural networks that have many hidden layers. Building a fraud detection system with five hidden layers was almost impossible a few years ago. All that has changed with incredible computer power and big data. You need lots of data to train deep learning models because they learn directly from the data. The more data you can feed them, the more accurate they become.
  • AI achieves incredible accuracy through deep neural networks – which was previously impossible. For example, your interactions with Alexa, Google Search and Google Photos are all based on deep learning – and they keep getting more accurate the more we use them. In the medical field, AI techniques from deep learning, image classification and object recognition can now be used to find cancer on MRIs with the same accuracy as highly trained radiologists.
  • AI gets the most out of data. When algorithms are self-learning, the data itself can become intellectual property. The answers are in the data; you just have to apply AI to get them out. Since the role of the data is now more important than ever before, it can create a competitive advantage. If you have the best data in a competitive industry, even if everyone is applying similar techniques, the best data will win.

 

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