In our day to day live we experience that our smartphones have some artificial intelligence (AI) embedded in the form of a personal assistant. This assistant, be it Siri or Google Now, can perform tasks that include looking up and then presenting information verbally. Other features include being able to dictate a text message or creating a calendar entry.
Sci-Fi movies gave us the idea of being able to talk to an AI like we would talk to a real person. The AI’s in the movies, however, have the processing power and memory of a server farm (or even quantum computers) at their disposal.
To create an AI that we regard as intelligent, we have to consider what we consider intelligent behavior. Since we want to create an AI that matches our intellect, we should look at the most intelligent species we know, humans. Humans are particularly good at recognizing patterns. We can train to recognize certain shapes faster, e.g. in mathematics or even art. Computers, however, must be taught to categorize patterns according to what we teach them.
Teaching the computer these patterns to imitate the capabilities of the human brain, is called deep learning and thus creating an AI.
Now that we know what the goal is, what does that mean for businesses? Is AI important to be a part of the digital mastery?
Certainly, companies like Facebook or Google are working on this technology with remarkable results in image and speech recognition.
Other markets are also following the trend of having an intelligent bot at your side, for tasks that seem too complicated or intensive for us.
One sector that follows mathematical rules and where the lifeblood is what a computer knows to work with are financial systems and the tremendous amount of data they process daily. So far they are mainly used to serve customers, much like a sophisticated chatbot (e.g. SEB in Sweden, Royal Bank of Scotland) that answers the questions of customers. Paypal uses the technology to categorize types of fraud, while in Korea an AI delivered a 2 percent return on invested funds. In the automotive industry, we are starting to have very sophisticated autopilots. Assembly lines are more and more staffed with robots that are faster and more reliable than human staff. The possibilities to implement a powerful AI seem endless.
But what about the other side of the coin? How far do we go when we are not limited by processing power or other resources anymore? Why do leaders in their field such as Elon Musk, Bill Gates, and even Stephen Hawking warn about AI? What does that mean for the concept of “business”?
The fear index by Robert Harris