Author: Constantin Măgdălina, Emerging Trends and Technologies Expert
When in 1997 Deep Blue computer defeated world chess champion, Garry Kasparov, it seemed that artificial intelligence had reached a stage where it could overcome humanity. This victory, minimized by some chess specialists for the low-quality move by the master in game 6, proves the difficulty of associating intelligence with machines. In fact, it was the signal of social transformation that continually increases its speed and influence today. An advance of technology that puts under scrutiny the capacity for information processing and decision-making of the human mind.
Beyond technological advances such as machine learning and deep learning, what specialists are concerned about is the impact that the full development of artificial intelligence can have on society. Since the impact areas are multiple, it is worth mentioning the two main ones based on the magnitude of each of them:
Statistics on artificial intelligence in business and technology are changing rapidly. Whether it is the effect of artificial intelligence on startups or investments, or of robotics, Big Data, virtual assistants, market presentation or vocal search and recognition, statistics provide a better understanding of the current state of development of artificial intelligence and its domain of application.
So, by 2025, the global artificial intelligence market is estimated to reach $ 60 billion. Thanks to artificial intelligence, global GDP will grow by $ 15.7 trillion while at company level it can increase productivity by 40 percent, according to Accenture. Approximately 75% of the electronic devices we use contain some form of artificial intelligence. According to Google, in 2020 robots will be smart enough to joke and even flirt. From the robot stories written by Isaac Asimov to today's robots, technology converts imagination into reality.
Nowadays, retail has already entered the self-service and cashless shops with virtual mirrors that simulate clothing testing, inventory optimization, and visitor flow analysis. The actuary in the insurance industry receives artificial intelligence’s help for risk identification, pricing customization, and customer support. The banking industry has the support of artificial intelligence in preventing fraud by learning the types of fraudulent transactions, lending and segmenting clients.
Detecting security incidents and the accelerated response time is made easier with artificial intelligence. The media industry will be affected by generating automatic content from compiling information by accessing multiple sources, removing fake news, analyzing data, eliminating subjectivity, analyzing content.
Social relationships and democracy
According to a recent PWC report by 2030, 38% of jobs in the US will be replaced by artificial intelligence or automation, probably in Romania, the percentage is superior. What is happening with almost half of the population of a country threatened by job loss? Career path change, minimum guaranteed income? In an increasingly technological pervasive world, solutions to these challenges are not easy to find. Also in this world, not only professional relationships will be affected, an ongoing phenomenon, but also personal relationships.
Virtualization of work environments and human interactions outlines an avatars universe. It predicts to visit each other at great distances only as virtual characters. School and public debate move online and the leadership perspective opens to a virtual world governed by artificial intelligence. A multi-layer network of algorithms to interpret cross-level information like a neural network capable of managing efficiently and with no bias. What will remain from the current voting system, what will the social contract look like? Social rules and leadership architectures or representations that have been established for thousands of years are forced to reorganize or disappear. The political environment already uses targeted campaigns, monitors public opinion, and anticipates themes of interest with artificial intelligence. Will this happen tomorrow? If at the scale of history, tomorrow means 2030 then maybe the answer is yes. Today are only planted the seeds of this fundamental change.
Artificial Intelligence opens a new stage of progress that includes automation of transport, cyber technology, and machine learning. The widespread of smart machines, the communication between a robotic arm and the brain of a disabled patient, and the prediction of the future based on past data make the transition to a promising future. Yesterday’s Sci-Fi stories come today into reality. Tomorrow's world will be very different from today's. Much more different than the world of today compared to the world of yesterday. History is accelerating.
Eight practical recommendations for companies
1. Bring in an expert in artificial intelligence
2. Identify issues that you want to solve in the company with this technology
3. Prioritize areas of intervention for activities that bring the highest value
4. Evaluate your internal capabilities
5. Consolidate your team of experts and start a pilot project
6. Sanitize and structure your existing data with a dedicated team
7. Operate with small amounts of data at the beginning
8. Integrate the AI-assisted activities into daily work routines to increase productivity by 40%
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About Constantin Măgdălina
Constantin Măgdălina has 9 years of working experience, while he performed in multinationals both in Romania and abroad. Constantin has a master’s degree in Marketing and Business Communication at the Academy of Economic Studies Bucharest. He is certified Lean Six Sigma and ITIL which provide him a good understanding of processes and transformations within organizations. The Chartered Institute of Marketing certification furthered on complemented his expertise and knowledge in business. In those over 4 years working activity in a Big4 company, he initiated and conducted studies which analyzed different aspects related to the business environment in Romania such as the economic growth predictions of companies in 2013-2016, knowledge management, the buying experience in the age of digital consumers, social media 2013-2015, the utilization of mobile devices in Romania. He is the author of numerous articles on topics related to innovation, the efficiency of business processes, social media, the consumers’ buying experience in the age of digital, trends and emergent technologies. He is invited as a speaker at numerous events and business conferences.