What We Have Covered in This Article
- 1 AI Development in the Last 5 Years in Brief
- 2 6 Myths about Artificial Intelligence
- 3 The Future of Artificial Intelligence
- 4 Final Remarks
Last Updated on August 23, 2021 by Editor Futurescope
The latest McKinsey The State of AI report shows an unchanging AI adoption trend, its value, and positive impact for businesses that adopted AI at least at the function level. While some companies seek and find developers online to build or adopt AI solutions, some organizations still believe the talk and myths about artificial intelligence.
Let’s cast light on some of the outdated myths and assumptions that software partners and businesses of different industries reap the maximum benefits from AI technology.
AI Development in the Last 5 Years in Brief
While we can’t say that the essence of artificial intelligence was worded not so long ago, it’s worth admitting that the last decade showed a successful growth of AI technology and innovative solutions based on AI. Nowadays, artificial intelligence is used not only in labs but in our everyday lives. We use voice assistants and facial recognition in smartphones and already take many tech functions for granted.
Such developments as driverless cars, fake news detection, smart language translation, and even global warming-preventing tools are currently being in progress with the use of AI. Here are some significant milestones reached in the last 5 years, to name a few:
- In 2016, Hanson Robotics released the first “robot citizen” named Sofia, a humanoid robot that the most similar to a real human. Sofia is able to make facial expressions, can “see” with AI-based image recognition, and have a conversation thanks to AI.
- In the same year, Google presented Google Home, an AI-based personal assistant that can assist with noting tasks, booking appointments, and learning new information by voice commands.
- In 2020, a language model that can generate text called OpenAI GPT-3 was released in beta testing for IT developers and other enthusiasts. The software uses pre-defined AI algorithms for question-answer, simple math problems, machine translation, and various natural language processing tasks.
6 Myths about Artificial Intelligence
Given the rapid development and attention that AI receives these days, the technology is surrounded by myths and fake facts. Let’s take a look at the 6 most popular beliefs that make false headlines:
- AI is just an unnecessary luxury
Nowadays, AI is not a fad or something costly integrated on a whim. Artificial intelligence proves to be a crucial technology for many business processes, from delivering innovations to cost optimization, especially amidst the COVID-19 pandemic. What’s more, AI can help a company improve customer experience, analyze large amounts of data quicker and more effectively, analyze risks, and automate decision making.
- AI will replace all jobs in the world
Every industrial revolution changed our world significantly but led to the job and employment transformation, not total unemployment, and the overall number of jobs remained consistent. While AI may result in more automation, at the same time, it can create a productive environment for people to work on the core tasks and creative solutions.
- AI will beat human intelligence
It is important to note that intelligence is not measured narrowly or with a few criteria, and the scales are different for machines and human beings. Robots may outpace humans in some predefined areas, but they won’t be able to “see a big picture” beyond the given tasks and can’t surpass humans in emotional intelligence and creativity, among other aspects.
- AI will destroy the Earth
We all have seen those sci-fi movies when robots enslave or destroy humanity. Although the possibility of this is never zero, in the current state (and far beyond it), AI has so many borders and limitations that have to be broken to make this happen that it is definitely unreal.
- AI can solve any problem
In reality, AI-based software can handle new problems that it was not built to solve. It can handle certain types of problems within the pre-defined scope and precise conditions, but the programs can’t “evolve” to solve the problems they have never encountered, contrary to a human brain. Although AI can perform well based on the data it was trained on, an IT expert is needed to define the scenarios for AI to operate in.
- Only ML developers and data scientists can use AI
Nowadays, there are already many applications that utilize AI that do not require a business to hire a top developer to be used. However, to tailor an existing AI solution to the company’s needs or to build custom software that will use AI technology, companies do need programmers or software partners to achieve their business goals. That’s why many AI businesses are rising nowadays, offering new ideas and approaches, eager to find web developers for startups, and delivering custom IT solutions.
The Future of Artificial Intelligence
As per the MarketsandMarkets™ predictions, the global AI market value will reach $309B by 2026, with a tremendous Compound Annual Growth Rate (CAGR) growth of about 56.8% between 2016 and 2025 and 39.7% between 2021 and 2026 specifically. The industries that are projected to hire top developers online for AI projects include healthcare, defense, fintech, edutech, and eCommerce.
Here are some AI-related trends believed by online professionals in 2021 and beyond:
Although AI is surrounded by a halo of myths, it is no doubt that artificial intelligence is a promising technology that will be used even more by in-house and remote IT teams, by startups and large-scale corporations. It is important to hold one’s finger on the AI news’ pulse, as well as to distinguish fake news and myths from the truth.