The idea of artificial intelligence has been around for quite some time, it was not until de 1950’s that the concept was given the name we all know today. Since the first test of working artificial intelligence was concluded, we have seen exponential growth and development in the market. This technology is used everywhere, on everyone, we may not notice it, and that is exactly the purpose of it. Nevertheless, we find ourselves at the beginning of a multi-industry changing technology.
Difference between AI and machine learning
When referring to AI, we sometimes neglect machine learning and its distinction to the aforementioned. Its function deviates from AI’s, whilst AI is focused on the simulation of human behaviour, machine learning uses this intelligence to learn from past data and make predictions with a higher degree of certainty than humans. On the one hand, the latter is commonly used in financial markets to predict an asset’s future price action. On the other hand, artificial intelligence is used to understand more human-like attitudes, instead of statistical measures.
The dark side to AI
As with every innovative technology, ethical issues surge. This technology is vastly applied to every social media hence, combining the information we feed the machine and its utterly advanced and powerful code, AI is able to understand everyone’s way of thinking and therefore feed tailored media. It is the reason why platforms like Instagram and Tik Tok have become so addictive to a point where I believe the relationship with them is no longer healthy.
What to expect from AI and machine learning in the coming years
Despite the above, if used in the right and ethical way, this technology can be the foundation for extraordinarily beneficial purposes in every aspect of life. Which leads to its growth potential for the coming years. Publicly traded companies that are known to be highly devoted to the development of AI have grown on average 16% the last year, and the market has grown 270% in size in the past 4 years. The growth is expected to continue this uptrend.
Artificial intelligence will continue to shift many industries in years to come, many are not aware of the importance of this technology, these are uncommon opportunities that arise and disrupt not only the market they participate in but also detached markets. I am of the opinion that it deserves more attention than what we are giving it and once it gains massive popularity and the masses understand its potential, it will proceed to be an unstoppable market.