Making the most of the AI Boom | Upskill with the best Data Science Training Institute in Bangalore/India
Artificial Intelligence (AI) is expected to more than double the rate of innovation and employee productivity in India by 2021, according to Microsoft – IDC. The rate of progress in the field of artificial intelligence is one of the best-contested aspects of the ongoing boom in edifying computers and robots on how to see the world, make sense of it, and eventually perform involute tasks both in the physical realm and the virtual one.
Artificial Intelligence is set to transform all aspects of our lives – including our workplaces, homes, and conveyances. AI implements are already widely familiar in Internet-probing, computers with speech recognition and games such as chess, but the next few years will optically discern AI become ever more widespread, in everything from cars to robots to medicine. This will have consequential repercussions for society, as AI performs many tasks that, until now, have been done by humans.
Companies like Apple, Amazon, Microsoft, Google, and Facebook are all employing AI technologies like deep learning, machine learning, and language processing to provide incipient and amended experiences across their accommodations. They have been acquiring AI start-ups that target different capabilities and thus have developed technologies like Siri, Alexa, Google Assistant, and Google Lens, all available on consumer contrivances.
Google has been dedicating enormous resources to its AI capabilities and has research areas ranging from Education to Machine Intelligence to Quantum Computing. Recently the company withal invested in six AI predicated research projects in India that fixate on a variety of quandaries like environmental challenges, healthcare, and edification.
Opportunities in India
AI is emerging as an incipient factor of engendering, augmenting the traditional factors of engendering viz. labor, capital and innovation, and technological changes captured in total factor productivity. AI has the potential to surmount the physical constraints of capital and labor and open incipient sources of value and magnification. From an economic impact
perspective, AI has the potential to drive magnification through enabling: (a) keenly intellective automation i.e. faculty to automate intricate physical world tasks that require adaptability and suppleness across industries, (b) labor and capital augmentation: enabling humans to fixate on components of their role that integrate the most value, complementing human capabilities and amending capital efficiency, and (c) innovation diffusion i.e. propelling innovations as it diffuses through the economy. AI innovations in one sector will have positive consequences in another, as industry sectors are interdependently predicated on the value chain. Economic value is expected to be engendered from the incipient goods, accommodations, and innovations that AI will enable.
India is on the path to becoming a major global trading power and investment in this transformative technology must be perpetual for long-term prosperity. According to the Gartner report, AI adoption across various parallels of the industry is taking place at such a rapid speed and will create 2.3 million jobs by 2020.
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