By | Bernard Marr | Internationally Best-selling Author
Artificial intelligence (AI) has the potential to be the most powerful and transformative technology the business world has ever seen, helping us make smarter decisions, automate tasks and fully realize the value of the data businesses are generating at an ever-growing rate.
Over the last decade, AI technology has shown that it has revolutionary implications across all industries. Several trends have evolved in parallel to form a perfect storm. Together, they have brought us to the point where “thinking machines” – once the domain of science fiction – are a practical reality today, and are set to have a revolutionary impact on our future.
Today, we live in digitally connected world, full of Internet of Things devices, in which collecting and sharing data has become part of almost everything, and we have increasingly sophisticated analytic technologies and methods to turn the data into business value. Perhaps most significantly, this includes deep learning neural network models. Though based on research into machine learning going back to the 1960s, they have become far more useful since we’ve been able to plug them into the internet and fuel them with almost unlimited amounts of data. This has rapidly advanced what is possible with machine learning and provides us with the “brains” of today’s AI applications.
A third major development on the road to artificial intelligence is undoubtedly the arrival of cloud computing. Getting to the point where we can perform tasks that we consider to be “AI” – identifying objects in images, or understanding natural language – requires crunching a lot of data through a lot of algorithms. This involves massive amounts of computing power and storage space, and although both of these commodities are constantly falling in price, the requirements would still be prohibitively expensive for most businesses.