May 26, 2024

Why is it Important to Understand Artificial Intelligence?

If like me you are amazed at the constant development of technology to better our lives you’ve probably come across the term artificial intelligence and wanted to learn more about it. Without any mind-boggling terminology lets first try to see why it’s important to understand artificial intelligence and how it can be integrated into our lives today and in the future.

Innovation

It takes brainpower and time to innovate in any industry and it would make sense to try to use artificial intelligence where possible to solve problems or make things easier.

AI-powered robots outfitted with cameras and sensors are used to capture and analyse data at well as move around and perform jobs as needed. A great example of this is in Tesla factories where AI robots carry out a variety of specialized tasks such as lifting heavy parts or laser-cutting materials to create the individual pieces that make up a car. Humans will inspect the work done to ensure quality is achieved but most of the physical work is done by AI robots trained to perform a job the exact same way each time they do it. In this way they can maximize output greatly over any car factory operating without them. This allows Tesla to proudly declare their ability to manufacture over a million vehicles a year as well as many energy related products.

Upskilling

The advancements in artificial intelligence will automate certain tasks and create new job opportunities. If we learn more about how it works it will empower us with the knowledge and skills needed to participate in a fast evolving job market. Rather than be replaced by automation we can examine the areas in which AI can augment our work and learn how to collaborate effectively with these new AI systems.

Decision-Making

AI is already put to use in decision-making processes, so it would be useful for us to understand what kinds of data it can analyse for our benefit and what limitations it might have.

Insurance companies can use AI to check claims faster and identify fraudulent claims by scammers. The system in place to do this needs to train on available past data of claims already made and proved to be genuine or fraudulent. AI can also analyse and identify patterns in data that usually take humans much longer to conclude.

AI-Marketing tools offer companies the opportunity to see where their efforts work best and what groups of people are most likely to be persuaded to buy a product or service. A company could use such tools to develop strategies that anticipate the buyer’s next move on an online store for example, perhaps customers who normally add product A to the cart tend to go looking for product B but then change their mind once they see the price. The company could entice them by offering a discount when the 2 are bought together. There are however many many examples such as that to consider in the habits of buyers and it’s not only confined to online stores but rather across all industries.

Changing Times

For many of us, the thought of AI might be a reason for concern as recently there’s been a lot of talk in the news about how Artificial Intelligence is out to replace our jobs, and rather than encourage us to learn and adapt to the changing times, the media as always would rather scare us instead. For this reason above all perhaps it’s important to understand artificial intelligence, what it’s capable of, and how it can be used to change our lives for the better.