AI and Machine Learning transforming Lives

Ajish Prakash on January 20, 2019

There is a wide array of ways in which Artificial Intelligence and Machine Learning are transforming the lives of people. Artificial intelligence and machine learning combined, have presented themselves as a single force to reckon with in a number of different industries. While the adoption of artificial intelligence in various industries is on-going, it has already made its way into the businesses, financial structures, and education systems.

Education programs that have been powered by Artificial Intelligence have already been put into effect. These programs make use of efficient ways to teach students writing skills and basic mathematics. Currently, these programs are designed to teach children only the fundamentals of the subjects. However, since artificial intelligence is rapidly evolving, we can say with full certainty that it could be used to higher schooling in the future.

Atop that, it is also possible for artificial intelligence to provide an individualized learning experience in the education sector. Essentially, it could show the subjects that which a student is weak in. Ultimately, this allows teachers to focus on those particular weak areas so that students can build a particular skill.

Since a large number of children and young students make use of smartphones and tablets today, artificial intelligence combined with support software will make it easy for students to learn any subject at their own natural pace.

Atop that, straightforward yet often complex actions such as accurate grading can be automated by using artificial intelligence this can relieve the teachers from all the time-consuming workload so that they can spend their time in improving the course experience.

Similarly, artificial intelligence is also playing a great role in the finance sector. Artificial intelligence systems can process a big chunk of data in mere seconds. This data is greater than any computer or human could process. As a result of this, banks can provide an individualized experience with respect to financial management and can provide targeted advice to the customers. One important use case would be the combination of artificial intelligence with risk assessment. Normally, it takes months to get a personal loan or a house loan approved. However, with the use of an artificial intelligence system, such finances can be approved within hours.

In the business sector, artificial intelligence use in manufacturing is bringing the greatest impact. For instance, artificial intelligence could be used to prevent human errors by analyzing the drilling program data. Once analyzed, AI systems can then advise the operators regarding the adjustment of the distance or depth of drilling. Since jobs like these are extremely sensitive to human errors, it is expected that soon enough, artificial intelligence technology could help eradicate human errors in sensitive tasks completely. As a result of this, the efficiency of a number of processes in a wide range of industries will be increased.

With advancement in deep learning, which is a form of machine learning in which artificially intelligent computers learn via examples rather than from specific instructions/guidelines, the use-cases of artificial intelligence will simply broaden even further.

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