AI - The Industrial Revolution of 21st Century
When Henry Ford installed the first assembly line for his Ford’s automobile manufacturing, that moment was seen as a major contributor to the industrial revolution of the 20th Century. With the ever-increasing availability of useful data, the early 2010s have marked Artificial Intelligence as the next breakthrough in the technological revolution of this century. Data which is key to drive most of the AI algorithms has seen a major upward trajectory and is often touted as the Gold of today’s era. AI has earmarked its importance in almost every field, be it agriculture, finance, healthcare, etc.
There has been dramatic change in field of agriculture with automated systems powered by AI, to monitor crop health and detect any anomalies. Especially for country like India, which is highly dependent upon agriculture and employs a major chunk of its population in this sector, AI has proven to be the key to modernization of this field. Computer Vision powered drones are extensively being used in farms for pesticide spraying and automate the labor-intensive tasks.
Fields like finance saw a major boom in the early 2000s with dot com uprising, but now is seeing a second major boom with AI helping high-frequency trading firms in upping their game. Major trading firms heavily rely on data for their trades and used to do most of the analysis manually on the data, but now with the advent of AI algorithms like Artificial Neural Networks, algorithmic trading is driving the major share of the game.
In developed countries, AI is also revolutionizing healthcare with precision medicine, which is an emerging idea to take into consideration the patient’s genomic data, lifestyle habits, and various such factors, which is then used by an AI algorithm to decide better and tailored treatment and prevention strategize for a particular disease. The availability of huge medical data is helping researchers better understand diseases and thus coming up with better cures.
AI can be applied to many more markets and is, in fact, being considered as a standard approach to solving many problems and will continue to drive the ever-expanding horizons of human inventions and innovations.