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by : Aashiya Mittal
June 5th 2023
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Have you ever imagined that machines could also think and act like humans? No, right! Well, now everything is possible with artificial intelligence. It has gained immense attention from across the globe, and companies are willing to adopt it to transform digitally and smartly. You can consider it a wind that swept the whole market with its limitless features and efficiency to eliminate manual jobs. The Artificial Intelligence market is growing like anything and is capturing a considerable market sector, including different industrial sectors. So, will it cut down the job opportunities? It can be true or not. It depends on what we are expecting it to do. 

According to Forbes, businesses leveraging AI and related technologies like machine learning and deep learning tend to unlock new business opportunities and make huge profits than competitors.

Over the years, AI has evolved gracefully and helped businesses work efficiently. This article will focus on what AI is, how it evolved, its challenges, and its promising future. 

Artificial Intelligence business based on insights

What is AI (Artificial Intelligence)?

Artificial intelligence significantly deals with the simulation of intelligent behavior in computers. In simple words, artificial intelligence is when machines start acting intelligently, taking considerable decisions like humans, and making focused decisions. 

Today, we hear terms like machine learning, deep learning, and AI. all are interconnected and embrace each other for improved productivity.

AI (Artificial Intelligence)

We all are eager to know what started this beautiful and promising technology helping the human race. But from where did the AI’s journey start? So, let’s dig into the past.

When did Artificial Intelligence start to rise? 

The roots of Artificial Intelligence (AI) can be traced back to ancient times when individuals began to contemplate the idea of creating intelligent machines. However, the modern field of AI, as we know it today, was formulated in the mid-20th century.

  • The first half of the 20th century saw the emergence of the concept of AI, starting with the humanoid robot in the movie Metropolis. In 1950, prominent scientists and mathematicians began to delve into AI, including Alan Turing, who explored the mathematical possibility of creating intelligent machines. He posited that since humans use information to make decisions and solve problems, why couldn’t machines do the same thing? This idea was further expounded in his paper, “Computing Machinery and Intelligence,” which discussed the building and testing of intelligent machines.

 

  • Unfortunately, Turing’s work was limited by the technology of the time, as computers could not store commands and were costly, hindering further research. Five years later, Allen Newell, Cliff Shaw, and Herbert Simon initiated the proof of concept with the “Logic Theories” program, which mimicked human problem-solving skills and was funded by the RAND Corporation. This first AI program was presented at the Dartmouth Summer Research Project on Artificial Intelligence in 1956.

 

  • From 1957 to 1974, AI continued to advance as the challenges that had hindered Turing’s work became solvable. Computers became more affordable and were able to store information. Additionally, machine learning algorithms improved, allowing researchers to determine which algorithms were best suited for different scenarios. Early demonstrations such as the “General Problem Solver” by Newell and Simon and Joseph Weizenbaum’s “ELIZA” showed promising problem-solving and language interpretation results, resulting in increased AI research funding.

With the common challenge of computational power to do anything substantial: computers simply couldn’t store enough information or process it fast enough. 

  • The 1980s saw a resurgence of interest in AI with the expansion of algorithmic tools and increased funding. John Hopfield and David Rumelhart introduced the concept of “deep learning,” allowing computers to learn based on prior experience, while Edward Feigenbaum created expert systems that replicated human decision-making.

 

  • The Japanese government heavily invested in AI through their Fifth Generation Computer Project (FGCP) from 1982 to 1990, spending 400 million dollars on improving computer processing, logic programming, and AI.

 

  • In the 1990s and 2000s, many significant milestones in AI were reached. In 1997, IBM’s Deep Blue defeated reigning world chess champion, Gary Kasparov, marking a significant step towards artificial decision-making programs. That same year, Dragon Systems developed speech recognition software for Windows, further advancing the field of spoken language interpretation. 

The fact holding us back has not been a problem anymore. Moore’s law estimating that the memory and speed of computers double every year has been solved this year. 

AI is a revolution that is now a top demand in the market. AI is not a single step; many things have happened and been introduced in the past that make AI stronger with time. So, what are those revolutions? Let’s check.

Artificial Intelligence Revolution

The AI revolution refers to the rapidly evolving field of Artificial Intelligence (AI) and its growing impact on society. The AI revolution is characterized by a rapid increase in the development and deployment of AI technologies, leading to numerous benefits and challenges.

Artificial Intelligence Revolution

Some of the critical aspects of the AI revolution include the following.

  • Advancements in AI technologies: The development of AI technologies has continued to advance rapidly in recent years, with breakthroughs in deep learning, computer vision, and natural language processing.
  • Increased Automation: AI technologies are being used to automate routine and repetitive tasks, freeing human workers for more strategic tasks and increasing efficiency in various industries.
  • Improved Decision-Making: AI systems are used to analyze large amounts of data, enabling more accurate and efficient decision-making in various industries, such as finance, healthcare, and retail.
  • Increased Personalization: AI technologies provide personalized experiences, such as personalized recommendations and customized advertisements.
  • Ethical and Legal Concerns: As AI technologies continue to advance and impact society, ethical and legal concerns have become increasingly important, such as issues related to data privacy, bias, and accountability.

Overall, the AI revolution is transforming numerous industries and has the potential to bring about significant benefits and challenges in the coming years. 

Here are some of the key developments in AI from recent years up to 2023:

  • Deep Learning Advancements: Deep learning, a subfield of machine learning, has made breakthroughs in recent years, with deep neural networks achieving state-of-the-art results in tasks such as computer vision, natural language processing, and speech recognition.
  • Natural Language Processing: it enables machines to understand and generate human-like language with increasing accuracy. Today, companies are integrating NLP technologies into virtual assistants, chatbots, and customer service systems.
  • Computer Vision: Computer vision technologies have made significant progress, allowing machines to recognize and understand visual information in images and videos with increasing accuracy, leading to the development of self-driving cars, facial recognition systems, object recognition systems, etc.
  • Robotic Process Automation: Robotic process automation (RPA) has become increasingly popular in recent years, allowing organizations to automate routine and repetitive tasks, freeing up human workers for more strategic tasks.
  • Generative Adversarial Networks (GANs): GANs have become an essential area of research in recent years, allowing machines to generate new data, such as images, videos, and music, based on a set of training data.
  • Explainable AI (XAI): With the increasing deployment of AI systems in critical applications, the need for explainable AI has become increasingly important. XAI aims to make AI systems more transparent and interpretable, allowing decision-makers to understand how AI systems make decisions.

Today, most people estimate and fear that AI will take their jobs and that machines will replace human beings in the coming time. Looking at the scenarios, most jobs are at risk as automation reduces human work. Being based on data and accessing data from different sources, how safe is AI? What are the risks, security, and trust associated with AI?

Let’s see.

Artificial Intelligence — Trust, Risk & Security (AI TRISM)

We trust artificial intelligence for personal and business functions, but how far can we trust it? With significant business and healthcare decisions on the line, is it wise to trust a computer? Despite concerns, inaccuracies, design flaws, and security, many companies still need help fully trusting AI. With significant business and healthcare decisions on the line, is it wise to trust a computer? 

Companies must adopt a tool portfolio approach to address these concerns, as most AI platforms do not provide all the necessary features.

Gartner® has introduced the concept of AI Trust, Risk, and Security Management (AI TRiSM) to address these issues. Companies can implement AI TRiSM by utilizing cross-disciplinary practices and methodologies to evaluate and secure AI models. Here is a framework for managing trust, risk, and security in AI models.

Artificial Intelligence TRISM

Implementing AI Trust, Risk, and Security Management (AI TRiSM) requires a comprehensive approach to ensuring a balance between managing risks and promoting trust in the technology. This approach can be applied to various AI models, including open-source models like ChatGPT and proprietary enterprise models. However, there may be differences in the application of AI TRiSM for open-source models, such as protecting the confidential training data used to update the model for specific enterprise needs.

The key components of AI TRiSM include a range of methods and tools that can be tailored to specific AI models. To effectively implement AI TRiSM, it is essential to have core capabilities that address the management of trust, risk, and security in AI technology.

Artificial Intelligence TRISM Market

  • Explainability: The AI TRiSM strategy must include information explaining the AI technology’s purpose. We must describe the objectives, advantages, disadvantages, expected behaviour, and potential biases to help in clarifying how a specific AI model will ensure accuracy, accountability, fairness, stability, and transparency in decision-making.
  • Model Operations (ModelOps): The ModelOps component of the AI TRiSM strategy covers the governance and lifecycle management of all AI models, including analytical and machine learning models.
  • Data Anomaly Detection: The objective of Data Anomaly Detection in AI TRiSM is to detect any changes or deviations in the critical features of data, which could result in errors, bias, or attacks in the AI process. This ensures that data issues and anomalies are detected and addressed before decisions are made based on the information provided by the AI model.
  • Adversarial Attack Resistance in AI TRiSM is designed to protect machine learning algorithms from being altered by adversarial attacks that could harm organizations. This is achieved by making the models resistant to adversarial inputs throughout their entire lifecycle, from development, and testing, to implementation. For example, a technique for attack resistance may be implemented to enable the model to withstand a certain noise level, as it could potentially be adversarial input.
  • Data Protection: The protection of the large amounts of data required by AI technology is critical during implementation. As part of AI TRiSM, data protection is critical in regulated industries, such as healthcare and finance. Organizations must comply with regulations like HIPAA in the US and GDPR or face non-compliance consequences. Additionally, regulators currently focus on AI-specific regulations, particularly regarding protecting privacy.

Achieving AI TRISM can be complicated. Here is the roadmap that any business can consider for the AI market.

Artificial Intelligence TRISM Market future direction

Undoubtedly, AI has a bright future and a growing market. 

The promising future of Artificial Intelligence in 2023 and Beyond

There is increasing hype about AI and its implementation. Thus continuous advancements and development can be seen in the field of AI.

The future of AI in 2023 and beyond is poised to bring about significant advancements and transformations in various industries and aspects of daily life. Some key trends and predictions for the future of AI include the following.

  • AI for Business: AI is expected to play an increasingly important role in businesses, with the adoption of AI technologies for tasks such as automation, process optimization, and decision-making.
  • Advancements in Natural Language Processing (NLP): NLP is set to become even more advanced, enabling AI systems to understand and interpret human language more accurately and efficiently.
  • Integration with IoT: AI with the Internet of Things (IoT) is expected to lead to the creation of smart homes, factories, and cities, where devices and systems can work together to create a seamless and efficient experience.
  • Growth of AI in Healthcare: AI is expected to revolutionize the healthcare industry using AI technologies for drug discovery, diagnosis, and patient monitoring.
  • Ethics and Responsibility: As AI becomes more prevalent, there will be a growing focus on AI’s ethical and responsible use, including the need for transparency and accountability in AI decision-making.

Challenges Ahead of Artificial Intelligence

Today, humans are driving AI and making innovations, but what if the table turns and humans become the puppet of machines?

Sounds horrendous, right? Well, if technology keeps on advancing like this, then there is no time left for people to become highly reliant on machines. But what made us think like that?

High-profile names of the market, Elon Musk, and Steve Wozniak suggested that companies and labs must give a pause of six months to train AI systems that are stronger than GPT-4. These two have circulated an open letter stating how AI can impact the human race and create a human-competitive era, which could change the whole truth of existence. 

Also, in the recent news, the CEO of OpenAI, Sam Altman brings up the crucial point for the US government to regulate Artificial Intelligence. He also mentioned forming an agency that takes care of licenses for all AI-based companies to ensure accuracy. As per him, the technology is good but if it goes wrong it can do worse. 

So, it is better to play safe with AI and not take unnecessary advantage of such technologies that can impact the human world.

Wrapping up

Overall, the future of AI is promising and holds the potential to bring about positive changes in many areas of society. However, it is essential to ensure that AI is developed and used responsibly, with considerations for ethical and social implications.

AI innovations continue to deliver significant benefits to businesses, and adoption rates will accelerate in the coming years. But, make sure that you implement AI to a certain limit to which businesses can handle the automation and still be in charge of major changes.

If you want to develop a next-gen AI app or solution, you can connect with us. Drop us a query today.

Also, stay tuned to our website for more interesting news and the latest trends around AI.

ABOUT THE AUTHOR

Aashiya Mittal

A computer science engineer with great ability and understanding of programming languages. Have been in the writing world for more than 4 years and creating valuable content for all tech stacks.

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