Artificial Intelligence (AI) has been very much integrated into our lives in the 21st century. Little did we know that the very first trace of AI dated back to the 1950s. According to the infographic by Narrative Science, the seminal paper “Computing Machinery and Intelligence” written by Alan Turing is the first AI concept ever introduced. It was the first publication in the 1950s to introduce the AI concept of what is now known as the Turing test to the general public.
AI today has evolved, along with the availability of countless applications that benefit both consumers and businesses. The infographic depicts the development timeline of AI across different industries, allowing businesses to make use of these insights to make wise business decisions.
We can see a trend particularly in the Natural Language Processing field, where focuses are being placed on teaching machine to understand human text. It is believe that when the raw/unstructured data are being organized and classified in a structured way, it can be a set of valuable information for predicting trends. (Read our previous post: Sentiment Analysis For the Financial Sector)
Infographic credit of Narrative Science.
The advancement of AI can also be a double-edge sword in the sense that experts predict that in the next 10 or 20 years to come, much jobs will be lost due to machine automation, eliminating the need for physical labor. According to the grim forecast for the labor market in “The Future of Jobs,” report by the World Economic Forum (WEF), it is suggested that the influx of automation will affect every industry and geographical region, and not just established markets. Although employment may grow in certain areas, a net loss of more than 5 million jobs in 15 major developed and emerging economies can be expected by the year 2020.
Are you for or against the idea of machines replacing human labor? It seems like it is a debatable/controversial topic. Share with us your thoughts in the comment box below!