May 23, 2019

7 key factors contributing to the success of Artificial Intelligence

The AI revolution is transforming everything it touches. It is empowering companies to deliver better and smarter services with greater ease and comfort on a broader scale than before.

The scope of Artificial Intelligence:

  • Techniques used in pattern recognition
  • Software agencies acting like real users
  • Exponential technology accelerating other technologies
  • A bright vision of a future superhuman intelligence

Let’s talk about the seven factors responsible for the scope of Artificial Intelligence:

1. Capital

In 2015, the capital growth into AI startups companies was $2.4 billion. With the start of the year 2016, there were more than 200 start-ups companies with the revenue of over $1.5 billion. Later, it increased by more than $3 billion. This increase in the companies capital growth itself shows the fast and furious success of AI and has become one of the factors responsible for the growth of AI.

2. Algorithms

AI with its useful algorithms has made our life and work quite simple and swift. The AI algorithms involve deep learning and hierarchical pattern recognition. With the help of software like RStudio and Sentient many companies who earlier were against AI adapted it suddenly. Thus, AI algorithm is a major force driving the adoption of AI.

3. Hardware

With the launch of Tensor processing unit (TPU), Neural processing unit (NPU), Nvidia’s deep learning chip, or IBM’s TrueNorth neuromorphic computing platform, more chips are being developed to enable faster and more powerful AI.

4. Data

With the integration of algorithms and data with TensorFlow, more analysis tools for working with data are enabled. It focuses on increasing number of publicly available datasets. The data sets are machine learning algorithms as necessary as Hardware is to AI.

5. Talent

Talent is the primary driver for acquisition. Humans, as well as machines both, are an important basis of AI equations. There are a number of AI startups available such as Turi, Nervana, and DeepMind and many more to come in the recent years.

6. Applications

We are experiencing AI through the applications which we use in our daily lives. It delivers results by understanding human skills and extends our capabilities. These applications are being used on large scale today and many more companies have released virtual assistants, such as Microsoft’s Cortana and Amazon Echo.

7. Responsibility

The final driver of AI adoption is responsibility. The need for AI is to understand core human values. Humans plus AI processes are ultimately the winning formula in the business world.

AI revolution is already here. But we have only seen the trailer, the picture of it features is yet to come with more exciting services. AI will increasingly transform our lives.