Artificial Intelligence and robotics have become the overnight sensations every company wants to lay their hands. With decades of building and scores of changes within their implementation, the two have almost come to be used interchangeably. As the application of Artificial Intelligence takes precedence over manual intervention, technology has become the thing of the future.
With repetitive tasks no longer seeing the light of day, Artificial Intelligence and Robotics are giving way to adaptive technology and intelligent applications. As Artificial Intelligence takes over the usual mundane chores, it will soon surpass human knowledge and make decisions we were never capable. In the coming years, this will result in paradigm shifts, which will only translate into better success rates for companies making use of these smart, evolving technologies.
With this said and done, it is difficult to overlook the fact that Microsoft and Oracle have already progressed on the path of smarter robotics, which has led to the development of cognitive, connected factories. At the same time, Artificial Intelligence-infused robots will aim at transforming industries with their innovative level of intelligence; this will further lead to enhanced areas of production in the fields of safety, service, transportation, and even habitation.
Artificial Intelligence and robotics have come a long way, and they are the promise towards ushering in a better tomorrow. Broadly speaking, these are technologies which work well within the domains of law enforcement, rescue operations, and many other fields. Slowly and steadily, these technologies will become an integral part of our lives, and become inseparable from our day to day jobs. What is yet to be seen is how these technologies can reduce the interdependency between humans and machines, and recreate the evolution for a better tomorrow.
The Growth Spurts Within the Artificial Intelligence Industry
The next four years will see a massive shift in the growth of Artificial Intelligence and robotics. Artificial Intelligence revenues are expected to grow by 20%, in 5 years (2015-2020). In the year 2015, the Artificial Intelligence industry was staggering at a revenue model of $5 billion. However, by 2020, this industry is likely to operate at a revenue model of $12.5 billion.
With the evolution of the Artificial Intelligence industry, software companies are rapidly taking up the evolution mantle and charging ahead at full throttle. This way, they can push the boundaries of automation and enhance the realms of social media. As the Artificial Intelligence industry continues to push forward, very soon Artificial Intelligence will begin powering automation in the automotive sector, thereby creating scores of jobs in business operations.
As an example, virtual assistants and chat-bots have already become widespread. Smart robots are slowly and steadily taking over the advice columns in the fields of finance, insurance, media, legal, and journalism; this has lead to a revolutionary change in the way information is processed and passed on, thereby plugging multiple gaps within the information processing cycles. Some other benefits within the Artificial Intelligence industry include, but are not limited to, progressing standalone R&D projects, reducing time to market products and services, optimizing supply chain networks, etc. While these are an ongoing series of services, they are going to be enhanced manifold in the many years to come.
Are We Going to be Replaced by Machines?
Hollywood movies have already projected the future of the human race in many films. With the launch of Artificial Intelligence and robotics, there is an excellent chance that all manual jobs will eventually be handled by robots and automation, which will lead to a massive shift in the unemployment cycle. Despite the fear of losing jobs, it is necessary to note that Artificial Intelligence will be aimed at reducing tasks, and not jobs.
At the same time, the fear of replacement is justified. Simply stated, technological unemployment and displacement is a result of technological progress. As companies begin to see the benefits of Artificial Intelligence and robotics within their growing operations, these technologies are rapidly becoming popular in the market. All unrest is put to ease when one concentrates on the fact that Artificial Intelligence as a technology is being used in niche industries, as development within this domain is yet to be funded and finalized. Despite the ongoing concerns, it’s important to note that everything is not black and white, and the grey areas are what needs to be seen as time progresses.