Artificial intelligence (AI) is the capability of machines to imitate human intelligence. These can include learning, reasoning, and self-correction. For example, artificial intelligence can recognise speech, pictures and now AI is even being using in self-driving cars.
Why is AI growing now?
In the past, AI was simply a buzzword or something that we saw in movies, with limited practical uses. The reason why AI was so difficult to implement was the extremely high cost and insufficient processing speed required to feed the AI system with data.
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All of that is now changing.
Due to faster central processing units that are powering deep learning, AI is becoming ever more prominent in our daily lives. The proliferation of big data is another reason why more companies are able to train AI through deep learning.
In fact, AI has seeped into our daily lives somewhat unnoticed. For example, some search engines use AI. Whenever someone types something in the search bar, the AI learns and get smarter and is able to identify what users are actually searching for.
Why invest in it?
Because of the constant technological advancement used to support AI, it is very likely that AI will continue to grow and its use cases will also expand in the years ahead.
Right now, AI is being used for self-driving vehicles and voice translation. PwC estimates that AI will add around US$15.7 trillion to the global economy by 2030.
Already major Internet giants are positioning themselves to take advantage of the exciting new technology. Those companies use AI to identify objects and people in photographs. Each photograph is different and the task of identifying objects is no easy task for a computer. However, with the vast amount of data available online and the use of data points, these companies have managed to train AI through deep learning.
AI is also being used to interpret X-rays and medical imaging. In fact, a computer can now identify early warning signs of diabetic retinopathy, a disease that can cause blindness.
The use case of AI seems endless and investors should try to get on board sooner, rather than later.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.