Almost 200 years ago the wheels of industry turned and the industrial revolution altered the silhouette of the society. The way of life was redefined by innovation in the production sector.
Business and industry are the essences of todayâ€™s modern economy. But the latest trends and innovation in the Information and Communication Technology is marking the onset of another revolution- The Rise of Artificial Intelligence and Automation in the mundane task of production.
To some people rise of Intelligent machine may bring the bitter picture of 90s Hollywood movie Terminator or Matrix. But in a real sense, the situation is quite the opposite. Automation in manufacturing has been transforming factories, the nature of manufacturing equipment, and the economics of many production sectors. Moreover, since the process is fully automated hence human are unnecessary in the production line where automated machines are placed and at the same time, the restless machines increase the production rate in dramatic extent.
A report from Forbes reveals that the Global revenues from AI for enterprise applications are projected to reach USD 31.2 Billion in 2025. AI is also leaving a significant impact in the Natural Language Processing sector. In 2011 IBM AI Watson won the American quiz competition Jeopardy by stunning everyone with its capability.
Watching the onward march of AI, one may think of the unemployment problem in the mainstream job sector. But it is a matter of fact and an ugly truth that though some may lose their job many more job opportunity in the AI sector will be created at the same time. The world has seen the same scenario and coped up with it when it transitioned from an agrarian society to industrial society.
But, change and dynamism is the rule of the world the way James Wattâ€™s steam engine changed the picture of the society in the same way someday the concept of Artificial Intelligence pioneered by Alan Turing half a century earlier will change the bigger picture of the society in future.