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AI is a new topic; now, it's referred to as weak AI. The development of robust AI is expected to be superior to humans in cognitive tasks, and AI can outperform humans in some skills.
Undoubtedly, it would have both positive and negative consequences.
Future impact of AI & machine learning in different sectors
Most primary industries have been profoundly impacted by artificial intelligence (AI), particularly narrow AI, which uses data-trained models to perform objective functions.
That's especially true recently since data gathering and analysis have significantly accelerated due to the widespread availability of the Internet of Things (IoT), the rise in the number of linked devices, and the improvement in computing speed.
While some industries are just starting with AI, others are seasoned pros, and both are where it needs to be. Although we can try, it's impossible to deny the influence AI now has on our daily lives.
Transportation
Eventually, driverless cars will be able to transport us from one place to another, even though they might take some time to develop.
Manufacturing
Robots controlled by artificial intelligence perform a limited number of tasks alongside humans, such as assembling and stacking. Predictive analysis sensors ensure that equipment continues to function normally.
Healthcare
Artificial intelligence advances the diagnosis and treatment of diseases, accelerates and streamlines drug discovery, provides virtual nursing assistants, and improves patient experiences through comprehensive data analysis.
Banking & Finance
AI has changed many industries, including banking and finance. Banks use AI-powered chatbots to handle client inquiries and machine learning to detect fraud.
Machine learning in banking and finance has much more potential. AI may soon give individualized financial advice, assist banks in finding new revenue streams, and make loan choices. AI can automate customer service and back-office jobs, reducing costs.
AI will likely change banking and finance as it develops. This revolutionary technology will help all who join this revolution.
Entertainment
AI will help movies finish faster. AI is the future of the entertainment industry; therefore, if actors have schedule concerns because they're booked into another movie, it shouldn't matter.
Because there is no waiting period and deceased performers can be brought back into virtual reality, the film can be finished quickly. It will speed up the marketing process and all marketing processes.
It will help in ad design and provide personalized content based on user data. It may depend on how people view a website, which is interesting.
Education
To better cater to the needs of struggling or bored students, AI is helping digitize textbooks, creating early-stage virtual tutors to assist human teachers, and using face analysis to calculate student moods.
E-commerce
Soon, AI will play an important role in e-commerce. As a result, it will benefit the entire e-commerce industry, from consumers' shopping experiences to the promotion and distribution of items. In the future of e-commerce, we can anticipate the employment of chatbots, automated warehouse and inventory systems, and individualized product recommendations for shoppers.
Cyber security
Without a doubt, cyber security is a top priority for every company. Future forecasts for cyber security with AI include the following:
· Security incidents will be tracked using AI software.
· Using NLP to trace the origin of cyberattacks.
· Robotic process automation (RPA) is the automation of rule-based operations and processes.
But even while it's a significant part of technology, malicious actors may exploit it in harmful ways. They can misuse AI by launching automated attacks that are difficult, if not impossible, to counter.
Media
The journalism field is also using AI, and it stands to gain much more from this use. Bloomberg uses Cyborg technology to analyze complex financial reports quickly. The Associated Press publishes 3,700 earnings report stories annually with Automated Insight's natural language processing, approximately four times as many as a few years ago.
Employment
Now more than ever, thanks to AI, finding a job is a breeze for job seekers and businesses. Artificial intelligence is already employed in the job market, with rules and algorithms that automatically reject a CV if it does not meet the organization's requirements.
Hopefully, most AI-enabled applications will shortly drive the entire job process, from grading applications to conducting phone interviews.
Numerous artificial intelligence (AI) tools, such as Rezi, Jobseeker, etc., assist job seekers in creating impressive CVs and locating the ideal position for their unique set of skills. AI has a bright future in manufacturing, finance, banking, entertainment, etc.
Customer Service
Last but not least, Google is working on a project to develop an artificially intelligent assistant that can make appointments at local companies such as hair salons precisely like a human would. The system's capability to decode individual words is just one small aspect of its intelligence.
Final thoughts
Undoubtedly, the prospects for AI are up-and-coming. New difficulties are constantly emerging, such as determining liability when an autonomous car strikes a pedestrian and containing a worldwide independent arms race.
Obtaining all the benefits from AI at the global scale we are getting in the present age will have far-reaching implications for discussion and preparation. Still, there is little doubt about the revolutionary influence of artificial intelligence on the economy, the law, politics, and regulation.
Machines will develop artificial intelligence so advanced that humans will ultimately lose control. While this may or may not happen, unexpected effects are known in life regarding new technologies. Even if there may be difficulties due to AI's unexpected consequences, AI will significantly impact our future.