We all must agree that AI is currently on hype cycle these days. There are two dimensions for the claim. On one side, the companies may think that adding AI to the existing use cases might get the desired outcome by treating it as magic dust. Let us say sprinkle it on the context and it does the job for you, is the expectation. On the other side, AI is treated as a terminator by thinking that it kills all the humanity. There are several examples of advanced applications of the technology like Automated Wallet Parking and Autonomous Car in Germany. Bosch and Mercedes are trying their products with AI. Robots from Boston Dynamcishave been proved while climbing the stairs and other stuff taking the integration of Machine Learning and Deep Neural Networks
Results of answering Squad 2.0 Inference questions, when applied AI, machines are beating humans in accuracy. The AI technology entered Manufacturing, Agri, Healthcare, Legal, Telecom and everywhere. On the other side, there are unresolved Issues. Some accidents have been witnessed in the autonomous cars. Tortoise appearing as war tank and was killed. Recognizing color faces could be difficult at times. Scope of voice fraud is always there.
How do you package the technology for reach of all? How AI is transforming market? As perMcKinsy Reports, GDP is impacted by the AI into the market. AI is not a general purpose technology and needs customization to the context. The scope of applications of AI is very high in the Marketing, Sales and Supply Chain Management in Manufacturing. It is also used in IoT and analyzing product buying behavior.
AI needs Data and it is fuel for application. Marketing and Sales have been digitized for more than two decades and Industry makes use of data available to apply AI on it. While some industries are telling that they would take advantage of the AI, the others have done it.
It is also an assumption that AI is taking out lot of jobs in the market. Even though it is true that many jobs are disappearing with the introduction of AI creating new jobs is also in place. 10 million jobs in the fields of AI are available and contributing to significant economy growth.
The evolution of computers witnessed the “Internet first”, “Mobile first”, “Cloud first”, and now it is “AI first” in every thing. We are seeing Trillion dollar companies with the exponential growth.
Availability of cloud infrastructure unlocked the value of data. Creating insights from the complex data is the key for success. Today, 9 out of 10 enterprises on the journey of AI.
There are challenges in AI & ML. Important of those are enterprise maturity andlack of skills. If we see the talent distribution in AI in 2019, San Francisco stands on top of innovations in AI and becomes most happening place for AI. Operationalizing will make or break the future of AI.
Role of educational institutions is vital in educating the students on the emerging technologies in general and it is a responsibility of engineering colleges in specific. HITAM being an early adopter of emerging technologies, introduced programs in AI&ML, Data Science, Cyber Security and IoT. It is also an important step to have industry collaboration for facilitating such programs. HITAM set up a center of excellence in the campus by IBM with the support of RECODE Minds, an ed-tech platform, empowers individuals and businesses to progress by providing cutting-edge training in Artificial Intelligence, Cloud Computing, Data Analytics & Machine Learning.
Rahul Bhuman, Head – AI, Business & Strategy, Tech Mahindra