Artificial Intelligence (AI) or machines designed to make decisions from available data is
rapidly changing the processes of different countries in the areas of finance, national security,health care, criminal justice and transportation according to study by Brookings Reseach.
Artificial intelligence is the future, not only for Russia, but for all of humankind said Russian President Vladimir Putin in a speech at conference in Yaroslavl region, Russia.
In United States financial industry, decisions about loans are now being made by software that can take into account a variety of data about a borrower. In the stock exchange, people just submit buy and sell orders and machines can detect the trading inefficiencies without human intervention.
AI can also do fraud detection about transactions in the company. It could expose abnormalities, outliers or deviant cases that would help companies find the problems early.
In the area of criminal justice, Chicago city has developed an AI-driven “Strategic Subject list” that analyzes the risk of people, who have been arrested before, to commit crime again. It ranks people on scale using factors such as age, criminal activity, victimization, drug arrest records and gang affiliation.
Judicial expert, Caleb Watney of R Street Institute, claims that AI programs reduce human bias in law enforcement. “One machine-learning policy simulation concluded that such programs could be used to cut crime up to 24.8 percent with no change in jailing rates, or reduce jail populations by up to 42 percent with no increase in crime rates,” said Watney.
Transportation represents the area where AI is producing major innovations. Automotive companies, led by Tesla, have produced self-driving cars two years ago.
The growing role of AI could be attributed to the economic development it provides.
Artificial intelligence technologies could increase global gross domestic product by $15.7 trillion in 2030 according to the study made by accounting firm PriceWaterhouseCoopers (PWC)