AI has been around for a long time. Did you know the term AI or “Artificial Intelligence” was coined back in 1956? It was introduced by John McCarthy, an American computer scientist. He is also considered the father of AI as he was the one to introduce the foundational concepts of artificial intelligence. This also marked the formal beginning of artificial intelligence as a field of study.
However, the tipping point of the AI revolution as we know it today came about with the release of Chat GPT. We can say that it was AI’s formal introduction to the world.
The AI revolution is continuously shaping industries and daily life at a rapid pace. This makes it crucial for individuals and businesses to adapt to AI or risk being left behind. It is true that no one can accurately predict what the future of this revolution will be like. But one thing that’ll remain constant is change. And if you miss the opportunity to adapt early, you’ll get left behind. Once you do, then catching up becomes almost impossible.
But why the urgency? Let’s find out.
Why Adopt Early?
AI has become an integral part of many industries and is continuously reshaping many others. Turning a blind eye to it is no longer an option. As pointed out by many industry experts, everyone is still in the early stages of understanding AI’s true potential. This means that there is still time to catch up and engage with this transformative technology.
AI has also impacted employment in various industries. At the same time, it is also responsible for creating new opportunities. Experts have continuously emphasized the need for individuals to familiarize themselves with AI tools.
Familiarizing yourself with AI is crucial because it can help individuals enhance productivity and remain competitive in the job market. Those who effectively learn the use of AI will surely replace those who don’t want to adapt.
Now that you know why early adoption is beneficial for you. Let’s look at what makes artificial intelligence so impactful.
Why Is AI So Impactful?
The notion that AI has the potential to impact our everyday lives seems to be true. It is because artificial intelligence gives machines the ability to think and act like humans. What does that mean?
This means that through AI, machines can interpret the world around them. This gives them the ability to digest and learn from the information provided. Enabling them to make decisions based on what they have learned. These tasks are often carried out without any human intervention.
This ability to learn and act using the data or information provided is what makes AI so impactful. As you may have already gasped, AI needs data to learn and make human-like decisions. And it needs a lot of it. Luckily for us, we are surrounded by data.
Currently, 402.74 million terabytes of data are being produced every day. This figure is only projected to increase with time. Given the sheer mass of this data, it’s impossible for humans to analyze it on their own.
This gives a clue as to why the AI revolution is taking place right now and not before. Especially considering the fact that the concept of AI and machine learning has been around for longer than many of us have been alive.
So, why has AI become so impactful suddenly? Here’s why;
1- Data Is Being Created At An Incomprehensible Speed
Almost everything we do, be it online or offline, creates data. This is all thanks to the increasing digitalization of the world we live in. Digitalization has led to more people accessing the internet and using smart devices.
This means that we now have access to more data than ever before. That’s why AI has been able to grow at a much faster rate. In other words, the more data is fed to AI driven machines or machine learning algorithms, the faster they learn. Not only that, the higher the data fed is, the more accurate it becomes.
You might have noticed that many websites and apps show suggestions based on your preferences. Amazon and Netflix are good examples of this.
2- Higher Computing Power Makes It Possible To Process Big Data
We now have the ability to process, store, and analyze Big Data. What is Big Data? If that’s what you’re wondering, then wonder no more.
Big data is a vast collection of structured, semi structures, and unstructured data sets. These data sets are huge and can not be analyzed using normal systems. But how does this much data get created? As mentioned before, everything you do creates data.
When you scroll through a web page, data is created. When you leave a comment, data is created. When you like something, data is created. When you upload something, data is created. When you share, when you download, when you stream, everything creates data.
This is how Big Data is produced. The main sources for Big Data include;
- Social Media Interactions
- Internet of Things Devices
- Transactional Data
- Sensory outputs from machinery
- Online activity logs
These sources are the main contributors of the source of information that organizations and businesses use for effective decision making and strategic planning.
To put it more accurately. These sources are the main contributors for the data that is fed to AI models which enables them to perform human-like actions. In return, the AI models provide helpful insights to businesses. These insights are then used for strategic planning and effective decision making.
You might be wondering what this all has to do with high computing power? It is thanks to advancements like cloud computing and distributed computing that we can store, process, and analyze Big Data. Without this computing power, all this data would be worthless.
Now that we have established what makes AI so impactful and why now, let’s look at what the AI revolution means for your business.
What AI Revolution Means For Your Business
Businesses are getting smarter. So must yours. Businesses or organizations of all sizes are being impacted by this AI revolution. One characteristic is common in every revolution that we as humans have witnessed, be it the steam power revolution, the electricity revolution, the computing revolution, and now the AI revolution.
That characteristic is that they all are blind, like the law. They do not care what industry you are from, what’s the size of your business or operations is. These revolutions affect everyone the same. Let’s take the example of the farming or agriculture industry.
No one thinks of agriculture when talking about the AI revolution. Yet agriculture is currently undergoing a huge change. Technology is being used to identify where and when to plant crops for maximum harvests.
Data and AI can help farmers monitor conditions that are best suited for the crops. Data is even being gathered from the farming equipment. This will help in the effective maintenance of the machinery. There are machines, intelligent machines that are capable of identifying ripe fruits and picking them delicately.
If you are in the farming industry and refuse to benefit from technology, you’ll be left behind. And as you already know, there is no coming back from that.
This example accurately elaborates how the AI revolution can impact businesses no matter their industry. All industries are changing, and industry professionals have already accepted that innovation is the new norm.
For your business, this means that you have to re-think or go over your business processes. You may even have to re-evaluate your entire business model if you haven’t kept up with the AI revolution.
Now, it’s time to settle the debate!
Good AI or Bad AI: Which Camp Are You On?
To keep it fair and remove any biases. The Terminator has nothing to do with this debate. Consider it was never made.
So, which camp are you on? The Good AI camp or the Bad AI camp? The people who consider AI to be good are excited about the prospect of innovation and automation. They think innovations can make the world a better place by making our lives easier.
On the flip side, there are the Sarah Connors of society. They believe that AI marks the beginning of an end. In their mind they think AI much like it was portrayed in the Terminator movies. They believe that AI will supersede human beings and become the dominant lifeform.
As for me, I slightly agree more with the Good AI camp. I, too, am fascinated by the prospect of what the future holds for us. What new innovations will change our lives, and will we be able to achieve through technology. At the same time, I can’t help but think about the negative implications of AI. In the wrong hands, this technology can be used unethically and could negatively impact human life.
At the end, there is no sure way of knowing if this AI revolution is Good or Bad. All we can do is accept it like the revolutions before it and move forward with it. Because if we don’t, we’ll be left behind with almost no chance of catching up with technology.
So, are you ready to let AI revolution power your business? Then what are you waiting for? Leave us a message or book a consultation with our experts. Let us help you get the most out of this AI revolution.