Artificial Intelligence Revolution

The Artificial Intelligence revolution has been touted for years now. And there is no doubt it is happening, just much slower than we would have expected. So are there examples we can draw on to evaluate what is actually happening?

The next section was provided to me by Karthik Reddy of techjury.net who have compiled some interesting statistics.

AI’s Sudden Mainstream Boom

AI has come a long way. Thanks to the tech developments worldwide, we can now use this technology every day as it is integrated into most of our daily routines. What’s great is the fact that, while it has already come a long way, it seems that it’s future is even more promising.

Back in the days, the thought of AI becoming an integral part of lives felt way too far off, as if it was something reserved for the distant future. However, AI has improved a lot over the past decades, and it has since become a part of numerous industries including healthcare, automotive, retail, just to name a few.

One of the early concerns with AI was that it might not be capable of getting the same results that humans do while performing specific tasks, but thanks to machine learning, the technology is able to adapt to the most needs.

AI is growing not only in terms of application but also as an industry. Just a few years ago, the AI industry was worth $1.4 billion. Now, it is expected to boom into a $60 billion industry by 2025. As it gets more funding, developers will be capable of improving it further.

For businesses, this means it might be the right time to invest in this technology before the space gets crowded.

Artificial Intelligence Summary

So here is a quick summary of the statistics compiled by techjury.net for how AI will be used in 2020.

• 30% of businesses will employ AI in a least 1 sales process
• AI could prevent 86% of cyber attacks
• 1 billion AI enabled video cameras will monitor cities
• 4 billion devices with AI powered voice assistants

And it is estimated that up to 40% of jobs will be replaced by AI over the next 10 years in the developed world. Australia is no exception with CEDA making the same prediction in 40% of jobs replaced by technology. Some of these will be sensible automation and of course new jobs will also be created.

So it will be an interesting time. Thanks again to Karthik Reddy for bringing this to my attention.

Successful Endeavours specialise in Electronics Design and Embedded Software Development, focusing on products that are intended to be Made In Australia. Ray Keefe has developed market leading electronics products in Australia for more than 30 years.

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