AI used to be the stuff of sci-fi movies, but now it's all around us—computer vision and chatbots have become part of the standard business processes. Recently, artificial intelligence has reached its peak and made a breakthrough that has affected almost every industry, from high tech, telecoms, finance and healthcare to pharmaceuticals. The global AI market is expected to grow by more than $500 billion between now and 2030, according to various studies. IDC, a market research firm, predicted that the AI market will be worth over $500 billion by 2024. Let's figure out why.
The Story Behind AI: When It Was Started
The history of modern AI began in 1956 at a computer workshop at Dartmouth College (New Hampshire, USA), where the term "artificial intelligence" was coined by John McCarthy.In the late 1950s and early 1960s, AI research primarily focused on developing systems that could mimic human minds: symbolic AI and connectionism (initial neural networks). It appeared to be more complicated, and government financing was cut off in 1974. Then during the 1980s, the focus shifted to the creation of problem-solving expert systems.
Yet, following Lisp machine's collapse in 1987, the second AI winter began. In the 1990s and 2000s, the research revived artificial neural networks. Today, faster computers, new algorithms and the availability of large amounts of data have enabled systems that can interpret complex data, learn autonomously and make near real-time decisions.
But Where Do Concerns About The Reliability Of AI Come From?
Conversational AI and virtual assistants are designed to simplify our daily lives by taking care of tasks that we may find tedious, time-consuming or complicated. They are serving us 24/7—without productivity losses—by understanding and responding to our requests using NLP and machine learning algorithms. Where there are huge advantages, there are also risks, as the whole AI system is vulnerable to any weaknesses or biases in the underlying system that underpins it.Continue reading: https://www.forbes.com/sites/forbes...l-ai-into-a-success-business/?sh=4ea7149b65e5