Artificial Intelligence and Machine Learning Trends to watch out for

Artificial Intelligence and Machine Learning Trends to watch out for

From shopping recommendations to self-driven cars, Artificial Intelligence (AI) seems to be mushrooming in every aspect of the world in recent times. The term, along with Machine Learning (ML), is the talk of the town. Together, AI and ML are changing the space of business, tech, and even our personal lives at an astonishing rate. But are they two interchangeable terms? How can we distinguish one from the other, and what are the latest trends of each?

The core of artificial intelligence and machine learning began with the first computers, where engineers used arithmetic and logic to recreate capabilities similar to those of the human brain. Breakthroughs in medicine and neuroscience have helped us better understand what constitutes the mind, changing the notion of AI to focus on replicating the human decision-making process.

Artificial Intelligence (AI) and Machine Learning(ML)

Artificial intelligence is the ability of computer systems to mimic human cognitive functions such as understanding and problem-solving. Through AI, computer systems use mathematics and logic to simulate the reasoning humans use to learn from new information and make decisions.

A subset of artificial intelligence is machine learning (ML), which refers to the concept that computer programs can automatically learn from and adapt to new data without being assisted by humans. Deep learning techniques enable this automatic learning through the absorption of huge amounts of unstructured data such as text, images, or video.

What Lies in the Future?

• Healthcare: The healthcare industry is bound to witness a drastic change. Artificially Intelligent robots would be employed for performing complex surgeries with a high degree of precision. It puts consumers on top of things like health and well-being. Additionally, AI increases the power for healthcare professionals to try understanding the day-to-day patterns and wishes of the people they look after. AI would also be developed in wearable devices like watches and wrist bands to monitor the human body and predict any diseases if any.
• Autonomous Vehicles: Everyone these days is all hyped about “Autonomous Vehicles”. Level 2.0 Autonomy has already been achieved by Tesla. Autonomous driving is one among the key application areas of AI. Autonomous vehicles (AV) are equipped with multiple sensors, like cameras, radars and lidar, which help them better understand the environment and in path planning. These sensors generate a huge amount of knowledge and store them for future decision-making. Once autonomous vehicles would be on road, cab services like Uber and Ola would be driverless. This would change the way transport industry functions. The Autonomous Vehicle Market being driven by AI is projected to have a valuation of $127 billion by 2025.
• Fintech : In the financial services sector, analysts use machine learning to automate trading activities, detect fraud, and provide financial advising services to their clients. Algorithmic trading requires traders to build mathematical models that can monitor news feeds and trading trends to predict a rise or fall in security prices. Finance companies also use machine learning to detect fraudulent activity by comparing transactions against other existing data points (e.g., they know if that $500 e-commerce purchase was something you’re likely to do, or whether it’s completely out of character for you and therefore a little suspicious). In portfolio management, robo-advisors built via machine learning provide investors with automated financial advice based on their goals, risk aversion, and other factors.

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