Artificial intelligence conjures up images of supercomputer assistants, machines capable of creative thinking, and, for some, scenes from their favorite science fiction movie. The reality, even if it is not as futuristic, is not far from it. AI refers to the ability of a computer or machine to mimic the skills of the human mind, which often learns from previous experiences to understand and respond to language, decisions and problems. THE the market for AI technologies is vastamounting to approximately US$200 billion in 2023 and is expected to grow well beyond to over US$1.8 trillion by 2030.
AI comes in many forms
AI is broadly divided into machine learning and deep learning. These then have other subcategories such as natural language processing, computer vision, robotics, etc. Machine learning is the most basic and simplest AI form. Programs running on machine learning have a very clear set of parameters to use in interactions with humans and are limited in scope. It is also the most common form of AI, used in basic chat assistants, apps, voice commands, and other limited engagements.
Deep learning is closer to what a person could imagine thanks to AI. In deep learning programs, AI has initial parameters and data sets, but can incorporate user information when interacting with humans. This way, the AI learns as it is used, becoming more sophisticated. Recent examples of advanced deep learning programs are OpenAI ChatGPT And The Bard of Google.
Generative AI has entered the field
A new trend in AI development appeared at the end of 2022 in the form of generative AI. Although not entirely new, as such programs have already appeared in the last five years, the progress in this area has been astounding. Generative AI refers to programs that can, as the name suggests, generate text, images, music and much more. Driven by the release of ChatGPT-3 in late 2022, the field has also attracted Google, Microsoft, Amazon and, recently, Elon Musk’s X. Everyone is competing to develop the most advanced generative AI through a variety of startups. Advances in this case are not without flaws, as generative AI companies have been accused of training their AI models on copyrighted text and images, thereby snubbing writers and artists .
The AI train is moving forward
With advances in deep learning and machine learning, coupled with the immense impact that such programs can have on the global economy, AI can be expected to see continued competitive development in all advanced economies. Any business looking to gain an advantage over its competitors would do well to make a commitment early on to avoid being left behind.
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