Category Archives: Artificial Intelligence

HENDERSON, Nev., October 19, 2021--(BUSINESS WIRE)--Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients, filed its quarterly report on Form 10-Q with the Securities and Exchange Commission for the period ended August 31, 2021. AITX is a full SEC reporting company that files detailed annual and quarterly reports as prepared by a PCAOB registered firm and reviewed by an independent auditor.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211019005507/en/

A sampling of the many AITX, its subsidiaries RAD, RAD-G and RAD-M, developments in the 2nd quarter of FY 2022. Included are two new apps, RAD Light My Way and RAD AR (Augmented Reality), plus the announcement of the RAD 3.0 product line. (Graphic: Business Wire)

"The first half of our fiscal year saw continued progress, development, plus exponential sales growth," said Steve Reinharz, President and CEO of AITX. "Both subscription revenues and sales revenues saw dramatic increases year over year."

Key Takeaways from the 10-Q Filing

AITX Financials

The Company completed actions to eliminate almost all of its dilutive financial instruments as follows: 1. Substantially all of the convertible debt has been paid or converted; 2. The number of Series F convertible preferred Shares were reduced; 3. An agreement was reached amongst all Series F shareholders not to convert their shares prior to August 2023, unless there is an uplisting of the Companys stock or an asset sale.

Unless subsequent events reinstate a dilutive financial instrument, none of which are under consideration, the number of outstanding shares of the company will only grow as a result of actions related to the effective and current S-3.

Device parts inventory (on hand) as of August 31, 2021 at $488K, up from $25K as of August 31, 2020, an increase of 1,852%. This increase supports both organic growth, inventory for fast delivery, and support for an expanding sales pipeline.

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Research and Development spending fiscal YTD August 31, 2021 at $1,334K, up from the previous FY period of $190K, a 602% increase. The increase supports investments in new project development, increased engineering, programming resources, and other R&D initiatives.

Robotic Assistance Devices (RAD) Sales Growth

The Company reports that for the quarter ended August 31, 2021, AITXs second quarter of fiscal year 2022, device subscription revenues, referred to as Recurring Monthly Revenue (RMR), increased 69% over the same period of the prior year. Six month total revenues, including all sales and subscriptions, increased 404% over the prior fiscal years period.

Sales Funnel Development

The Company reports that its sales funnel continues its solid growth as its sales team continues to produce significant activity and results. RAD President and COO, Mark Folmer commented, "We expect to close the month of October with an additional RMR of nearly $14,000. This will bring RADs total RMR to just over $80,000. Were expected to cross the $1 million annualized RMR run rate in the current fiscal quarter, ending November 30."

New Products Announced RAD 3.0

On Wednesday, October 13, 2021, the Company announced its new lineup of RAD 3.0 devices. RAD 3.0 marks a complete design and re-engineering of nearly all RAD solutions. "The entire RAD team worked feverishly hard throughout Q2 so that we could preview all of the improvements in design and performance that we showcased earlier this week," Reinharz added. "The response to our RAD 3.0 announcements has been overwhelmingly positive. Im sure that we have a hit on our hands and we cannot wait for our customers to see these in person," Reinharz commented.

The AITX Investors Open House and RAD 3.0 Reveal video is available for viewing at https://tinyurl.com/hkp5ds

"Fiscal year 2022 continues to confirm RADs inevitable progress," Reinharz added. "These second quarter results reveal our constant grind, whether its inventing new products, penetrating new markets, or solidifying our financial position. There is so much more on the immediate horizon that we expect to conquer, making FY 2022 an incredibly big year for us in sales, team, tech and industry stature," Reinharz concluded.

The Company recommends that interested parties examine the published 10-Q to review all details, and reminds readers that this release is limited to the applicable highlights of the quarter.

Follow Steve Reinharz on Twitter @SteveReinharz for future AITX and RAD updates.

AITX through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide a cost savings to businesses of between 35%-80% when compared to the industrys existing and costly manned security guarding and monitoring model. RAD delivers this tremendous costs savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Artificial Intelligence Technology Solutions (AITX)

AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITXs RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit http://www.aitx.ai and http://www.roboticassistancedevices.com, or follow Steve Reinharz on Twitter @SteveReinharz.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005507/en/

Contacts

Steve Reinharz949-636-7060@SteveReinharz

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Artificial Intelligence Technology Solutions, Inc. Reports Revenue Increases of Over 400% Over Same Period Prior Year as Shown in 2nd Quarter SEC...

Animal testing is considered to be one of the worst cruelties towards any animal in this world over 100 million animals such as mice, frogs, dogs, rabbits, monkeys, cats, and many others are killed in animal experimentation. Meanwhile, cutting-edge technologies like artificial intelligence, machine learning, etc. are helping in boosting productivity while reducing workloads from human employees efficiently through AI models. Thus, artificial intelligence holds the potential to replace animal testing in the future. Artificial intelligence replacing animal testing can be a new approach to save these animals from undergoing lab experiments that hurt and kill them. Lets explore how AI models can save these animals from going through harmful animal testing.

Animal testing has saved millions of human lives at a cost of the precious lives of animals for a long time. It has helped the world with unbelievable medical innovations like vaccines, antibiotics, and many more drugs. But, this is not fair to these animals who sacrifice their lives for these experiments days after days for multiple years. This has been observed that some animal testing is not reliable enough to predict the behavior of drugs in human bodies. There is a huge wastage of time, money, animal lives, and many more. Thus, AI models are suitable and favorable for those experiments. Artificial intelligence and machine learning are known for generating reliable outcomes efficiently and effectively throughout the year if the training data is accurate.

AI models can save the lives of millions of animals with computer vision and accurate datasets. This is one of the true alternatives to animal models that holds huge potential to generate reliable and safe outcomes for drug discoveries. The emergence of quantum computing is creating a massive way with breakthroughs and experiments. Thus, there is no need for utilizing different animals for not-so-reliable animal testing.

In 2016, Thomas Hartung led some researchers from Johns Hopkins University to successfully develop an artificial intelligence algorithm that can determine substance toxicity after comparing it to similar databases and predictions from previously conducted animal testing. This software project showed this group of researchers that testing on animals showed inconsistencies and different animals can show different results to the same experiment. There is a concern that laboratories cannot use animals for these experiments but all kinds of testing are not possible to be completed by computers.

Start-ups like Verisim Life have started utilizing the power of artificial intelligence and machine learning in biosimulation to replace animal testing in the nearby future. It is a San Francisco biotechnology start-up focused on building digital animal simulations to reduce animal testing for drug discoveries. When animal testing is slow and unreliable, this AI model can eradicate the cruelty as well as boost the process of drug discovery to supply at a faster rate.

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Potential of Artificial Intelligence Replacing Animal Testing in the Future - Analytics Insight

Software as a Service, or SaaS, is a concept that is familiar to many. Long-time Photoshop users will recall when Adobe stopped selling its product and instead shifted to a subscriber model. Netflix and Disney+ are essentially Movies as a Service, particularly at a time when ownership of physical media is losing ground to media streaming. Artificial Intelligence as a Service (AIaaS) has been growing in market adoption in recent years, but the uninitiated might be asking: what exactly is it?

In a nutshell, AIaaS is what happens when a company develops and licenses use of an AI to another company, most often to solve a very specific problem. For example, Bill owns a company that sells hotdogs through his e-commerce site. While Bill offers a free returns policy for dissatisfied customers, he lacks the time to provide decent customer support, and rarely replies to emails. Separately, a software developer has created a chatbot that can handle most customer inquiries using natural language processing, and often solve the issue or answer a question before human intervention is even required. For a monthly fee, the chatbot is licensed to the hotdog vendor, and implemented on his website. Now, the bot is solving 80% of customer issues, leaving Bill with the time to respond to the remaining 20%. But Bill is still too preoccupied making hotdogs, so he subscribes to a service like Flowrite, that uses AI to intelligently write his emails on the fly.

AI is also being put in service to analyze large sets of data and make predictions, streamline information storage, or even detect fraudulent activity. Amazons personal recommendation engine, an AI powered by machine learning, is now available as a licensed service to other retailers, video stream platforms, and even the finance industry. Googles suite of AI services range from natural language processing, handwriting recognition, to real-time captioning and translation. IBMs groundbreaking AI, Watson, is now being deployed to fight financial crimes, target advertisements based on real-time weather analysis, and analyze data to help hospitals make treatment judgements.

Also read: AI-Enabled Payments: A Q&A with Tradeshift

Also read: How Quantum Computing Will Transform AI

Machine learning AIs improve with time, usage, and development. Some, like YouTubes recommendation engine, have become so sophisticated that it sometimes feels like we have entire television stations tailored perfectly to our interests. Others, like language model AI GPT-3, produce entire volumes of text that are nearly indistinguishable from an authentic human source.

Microsoft has even put GPT-3 to use to translate conversational language into a working computer code, potentially opening up a new frontier in how software can be written in the future, and giving coding novices a fighting chance. Microsoft has also partnered with NVIDIA to create a new natural language generation model, three times as powerful as GPT-3. Improvements in language recognition and generation have obvious carryover benefits for the future development of chatbots, home assistants, and document generation as well.

Industrial giant Siemens has announced they are integrating Googles AIaaS solutions to streamline and analyze data, and predict, for instance, the rate of wear-and-tear of machinery on their factory floor. This could reduce maintenance costs, improve the scheduling of routine inspections, and prevent unexpected equipment failures.

AIaaS is a rapidly growing field, and there will be many more niches discovered that it can fill for years to come.

Read next: Top 5 Benefits of AI in Banking and Finance

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What is Artificial Intelligence as a Service (AIaaS)? | ITBE - IT Business Edge

The government is undertaking research to explore how AI R&D is successfully commercialised and brought to market.

The Department for Digital, Culture, Media and Sport (DCMS), along with the Office for Artificial Intelligence and Digital Standards and Internet Governance (DSIG), are leading the research project.

Research consultants Oxford Insights and Cambridge Econometrics have been commissioned with exploring the ways technology transfer happens for AI, and are seeking to conduct interviews with those with knowledge of the industry.

The research aims to increase understanding of the following topics:

Oxford Insights and Cambridge Econometrics would like to speak individuals with experience and knowledge of the AI development ecosystem, Innovate UK and other funding programmes, Standards Developing Organisations (SDOs), AI patents, AI R&D in the public and private sectors, AI funding and Venture Capital, and AI policy.

Our interviews will take approximately 45 mins -1 hour; however, we are happy to accommodate if time doesnt permit this length of interview. We may request your approval to follow up on specific points and themes identified across all our interactions.

Please get in touch with either aisha.naz@dcms.gov.uk or sam.hainsworth@dcms.gov.uk if you have any clarifications or questions. We look forward to working with you.

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Understanding the UK Artificial Intelligence commercialisation - GOV.UK

Facebook launched a project, called Ego4D, with the aim of creating an artificial intelligence system that interacts with the world in the first person, reported last Thursday the company on its website.

According to the company, artificial intelligence that understands the world from the center of the action could unlock a new era of immersive experiences, as devices such as augmented reality glasses and virtual reality headsets become so useful in the world. everyday life like smartphones, explained the tech giant.

For this project, Facebook brought together a consortium of 13 universities and laboratories from nine countries, which collected more than 2,200 hours of video in the first person of moments of the daily life of more than 700 participants. The Facebook researchers listed a series of skills they want to develop in these systems:

Although Facebook emphasizes that this is a research project, the company plans to use these functionalities in your future commercial products. Definitely, thinking about augmented reality and what we would like to be able to do with it, there are possibilities in the future to take advantage of this type of research, said Kristen Grauman, Facebook artificial intelligence researcher, quoted by The Verge.

The tech giant hopes that products powered by Ego4D could one day be used not only in handheld cameras, but also in home assistant robots. The project has the opportunity to catalyze work in this field in a way that has not yet been possible, said Grauman.

These ambitions, however, could have serious privacy implications. Experts have already raised concerns about Facebooks smart glasses, which, according to Russias Federal Security Service (FSB), could serve as a spy tool. Previously, several European organizations expressed their doubts that the small LED indicator on the frame of the glasses is enough to warn other people that they are being recorded.

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Facebook develops an artificial intelligence system that can see, hear and remember everything the user does - Market Research Telecast

Since launching in July this year, the highly anticipated IAIF has attracted 665 project submissions from over 300 schools in 8 countries and regions, with 121 projects from 98 schools selected for the final online presentation and verbal Q&A.During the final competition presentations, the project submissions were reviewed meticulously by 45 professional judges from top-tier universities, enterprises and research institutions, including University of Science and Technology of China, Tsinghua University, Fudan University, Shanghai Jiao Tong University, Nanyang Technological University, Peking University, Chinese University of Hong Kong and Shanghai Technology Art Center. The teaching and evaluation system of martial arts based on body posture recognition and machine learning by Li Lufei from Shanghai Nanyang Model High School and Wu Keyu from the High School Affiliated to Fudan University as well as the drone powered by OpenCV for flood fight and rescue by Huang Pucheng, Wang Bingyang and Lin Yinhang from Zhejiang Wenling High School became the winners of the grand prize.

Besides, the research of rehabilitation assessment and training system powered by 3D hand posture verification by Zhang Yihong from Shanghai World Foreign Language Academy stood out from many excellent projects and won the first prize. Leveraging the 3D hand posture verification, this project aims to design a low-cost and easy-to-operate product for the patient with hand movement disorders, realizing 89.9% accurate in assessment of hand rehabilitation and training.

Lin Junqiu, Deputy Director of Science and Education Department from Shanghai Science, Art and Education Center, said, "Artificial intelligence is critical to our future. As we continue to advance technology development, we must cultivate a larger pool of AI talent with even higher levels of expertise and innovation capability. The huge opportunities brought by the AI era will facilitate transformative applications across industry verticals and scenarios but also formulate optimal collaboration between human being and artificial intelligence."

Lynn Dai, General Manager of SenseTime's Education Product, said at the final competition, "AI has become an important driving force for technological innovation, we believe the IAIF can provide an innovative platform for young people to develop their interest in AI. Meanwhile, SenseTime Education is dedicated to nurturing young talent and broadening their horizons with advanced insights from an industry perspective, as well as preparing them for the AI-empowered future."

IAIF is also providing comprehensive services for participants, from scientific innovation training to project incubation, helping them solve practical industrial problems. The IAIF organizing committee hosted a four-week AI training course for students before the final competition. The students from the most outstanding project teams will have the chance to participate in other national or international competitions. In addition, the students from the most outstanding IAIF projects will participate in a roadshow training workshop for startups as part of incubator programmes organized by SenseTime; the company will provide technology for high-potential projects.

"IAIF provided me with a unique opportunity to exchange ideas on this exciting AI topic with participants from different schools around the world," said Wu Keyu, the winner of the grand prize. "Through this competition, I have gained a better understanding of the powerful impact from AI and humans working together to build novel solutions that will create a better tomorrow for human society."

The success of the 3rd International Artificial Intelligence Fair not only marks the formation of the foundations for the AI education ecosystem developed by the Shanghai Xuhui Education Bureau and SenseTime, but also boosts the collaboration among governments, academia, enterprises and industries in AI technology innovation. In the future, SenseTime Education will continue to act as a focal point and a platform for cultivating future AI talents.

About SenseTime

SenseTime is a leading AI software company focused on creating a better AI-empowered future through innovation. Upholding a vision of advancing the interconnection of the physical and digital worlds with AI, driving sustainable productivity growth and seamless interactive experiences, SenseTime is committed to advancing the state of the art in AI research, developing scalable and affordable AI software platforms that benefit businesses, people and society, and attracting and nurturing top talents, shaping the future together.

With our roots in the academic world, we invest in our original and cutting-edge research that allows us to offer and continuously improve industry-leading, full-stack AI capabilities, covering key fields across perception intelligence, decision intelligence, AI-enabled content generation and AI-enabled content enhancement, as well as key capabilities in AI chips, sensors and computing infrastructure. Our proprietary AI infrastructure, SenseCore, allows us to develop powerful and efficient AI software platforms that are scalable and adaptable for a wide range of applications.

Today, our technologies are trusted by customers and partners in many industry verticals including Smart Business, Smart City, Smart Life and Smart Auto.

We have offices in markets including Hong Kong, Mainland China, Taiwan, Macau, Japan, Singapore, Saudi Arabia, the United Arab Emirates, Malaysia, and South Korea, etc., as well as presences in Thailand, Indonesia and the Philippines. For more information, please visit SenseTime's website as well as its LinkedIn, Twitter and Facebook pages.

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SenseTime Co-hosts the 3rd International Artificial Intelligence Fair to Nurture AI Talent and Promote a Collaborative Education Ecosystem -...

From new Artificial Intelligence-enabled software to track movements of Chinese patrols to integrating a range of ground and air-based sensors that look deep across the Line of Actual Control, the Army is stepping up surveillance capabilities in the Eastern Sector in the face of an increasingly aggressive PLA.

As part of a multi-pronged plan, road infrastructure, specially at the sensitive Tawang sector, is also being enhanced significantly with a network of bridges and tunnels that will take away dependence on air assets to support troops in all weather conditions.

Giving an inside view on new capabilities, senior Army officers said that not only are all available surveillance assets being used but younger officers have been tasked to create bespoke systems uniquely suited to the requirements for the Tibet border.

Central to the response to such provocations are establishments like the division surveillance centre at Rupa which receive real-time images and inputs of PLA movements along LAC. The inputs - from UAVs, helicopter-based sensors, ground radars and satellite feed - are collated and analysed to formulate a response strategy.

The picture that emerges at the control centre is revealing - from the number of transgressing troops to the vehicles they operate and infrastructure being created across the border. This, officials say, leads to a shortened response time that can curb transgressions.

"Without any increase in deployment, we are using technology to increase our awareness of the situation. Our focus is the fusion of sensors, our ground and air based sensors are being fused and it's a constant effort to improve capabilities," says Maj Gen Zubin Minwalla, the 5 Mountain Division commander based in Rupa, Arunachal Pradesh, that looks after the defences of Tawang.

Unique systems are also being developed in house by the Army to assist in this stepped-up surveillance. One project that is currently being validated through trials by forward troops is an AI-enabled software that distinguishes signatures being picked up by battlefield surveillance radars.

The software categorises signals to reflect if the movement of soldiers, vehicles or animals have been picked up and sends real time updates to the command centre to formulate a response. Another system being developed in a portable surveillance system that can be deployed across the border which automatically counts the number of transgressing soldiers and their mode of transport, relaying it to senior commanders to take counter action.

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Artificial Intelligence and Air-based sensors to help Indian Army scan LAC - Economic Times

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Alation Inc., the leader in enterprise data intelligence solutions, today announced the acquisition of Lyngo Analytics, a Los Altos, Calif.-based data insights company. The acquisition will elevate the business user experience within the data catalog, scale data intelligence, and help organizations drive data culture. Lyngo Analytics CEO and co-founder Jennifer Wu and CTO and co-founder Joachim Rahmfeld will join the company.

Lyngo Analytics uses a natural language interface to empower users to discover data and insights by asking questions using simple, familiar business terms. Alation offers the most intelligent and user-friendly machine-learning data catalog on the market. And by integrating Lyngo Analytics artificial intelligence (AI) and machine-learning (ML) technology into its platform, Alation deepens its support for the non-technical user, converting natural language questions into SQL.

The integration lowers the barrier to entry for business users. Now, they can acquire and develop data-driven insights from across an enterprise's broad range of data sources. This means even data consumers without SQL expertise can ask questions in natural language and find data and insights without the support of data analysts. The acquisition will help organizations drive data culture by putting data and analytics into the hands of the masses.

Wu will join Alation as Senior Director of Product Management, where she will be responsible for product strategy and delivery for natural language data search, discovery, and exploration experiences. Rahmfeld, who is also a part-time, graduate-level deep learning and natural language processing lecturer at UC Berkeleys Master of Information and Data Science Program, will be Senior Director of AI/ML Research. He will be responsible for Alations AI and machine learning center of excellence, building both platform and application experiences that leverage AI and ML to enhance Alations value for business and technical users.

Alation created the first machine learning data catalog and were known for providing the most user-friendly interface on the market, said Raj Gossain, Chief Product Officer, Alation. With this acquisition, were building on the best. Were doubling down on key aspects of the platform that will help drive data culture and spur innovation and growth. Jennifer and Joachim developed a unique solution for a complex data and analytics issue, and Im excited to welcome them to the Alation team.

The acquisition is the latest milestone for Alation, which announced a $110 million Series D funding round and a $1.2 billion market valuation in June 2021. Alation is growing quickly, earning the trust of nearly 300 customers, including leading global brands such as Cisco, Exelon, GE Aviation, Munich Re, NASDAQ, and Pfizer. The company has more than 450 employees globally and is hiring. Recently, Alation was named a leader in The Forrester Wave: Data Governance Solutions, Q3 2021 report and Snowflakes Data Governance Partner of the Year.

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About Alation

Alation is the leader in enterprise data intelligence solutions including data search & discovery, data governance, data stewardship, analytics, and digital transformation. Alations initial offering dominates the data catalog market. Thanks to its powerful Behavioral Analysis Engine, inbuilt collaboration capabilities, and open interfaces, Alation combines machine learning with human insight to successfully tackle even the most demanding challenges in data and metadata management. Nearly 300 enterprises drive data culture, improve decision making, and realize business outcomes with Alation including AbbVie, American Family Insurance, Cisco, Exelon, Fifth Third Bank, Finnair, Munich Re, NASDAQ, New Balance, Parexel, Pfizer, US Foods and Vistaprint. Headquartered in Silicon Valley, Alation was named to Inc. Magazines Best Workplaces list and is backed by leading venture capitalists including Blackstone, Costanoa, Data Collective, Dell Technologies, Icon, ISAI Cap, Riverwood, Salesforce, Sanabil, Sapphire, and Snowflake Ventures. For more information, visit alation.com.

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Alation Acquires Artificial Intelligence Vendor Lyngo Analytics - Business Wire

The term artificial intelligence was coined in 1956, but AI has become more popular today thanks to increased data volumes, advanced algorithms, and improvements in computing power and storage.

Early AI research in the 1950s explored topics like problem solving and symbolic methods. In the 1960s, the US Department of Defense took interest in this type of work and began training computers to mimic basic human reasoning. For example, the Defense Advanced Research Projects Agency (DARPA) completed street mapping projects in the 1970s. And DARPA produced intelligent personal assistants in 2003, long before Siri, Alexa or Cortana were household names.

This early work paved the way for the automation and formal reasoning that we see in computers today, including decision support systems and smart search systems that can be designed to complement and augment human abilities.

While Hollywood movies and science fiction novels depict AI as human-like robots that take over the world, the current evolution of AI technologies isnt that scary or quite that smart. Instead, AI has evolved to provide many specific benefits in every industry. Keep reading for modern examples of artificial intelligence in health care, retail and more.

Why is artificial intelligence important?

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Artificial Intelligence (AI) What it is and why it ...

There is lots of talk about Artificial Intellenege in the IT industry. Needless to say, it is going to be a big advancement in the technology field.

As like every other growing technology, plenty of statements is going around about AI ethics.

Is it good or bad?

What are the pros and cons of Artificial Intelligence?

There are lots of myths about artificial intelligence. Before getting into it, here is Artificial Intelligence, I can define it in a simple way

Artificial intelligence (AI) is described as the intelligence of machines. Its all about creating machines that have the ability to think like humans and as the technology is advancing with time, researchers and scientists are aiming to introduce an emotional characteristic as well into these machines.

With the growing technological advancements, it looks like artificial intelligence would definitely be the next big thing of this era.

Ever thought how would this affect human life?

Go through the following points to know what advantages and disadvantages artificial intelligence can bring with it.

AI comes with advantages and disadvantages. Lets look at them one-by-one.

Here are the advantages of using Artificial Intelligence (AI).

Unlike humans, robots and machines do not have to get paid every month for the work they do.

Although machines are pretty much expensive to maintain, the maintenance cost is very small as compared to the expenses that an organization bears for its employees.

Hence, it helps to reduce and to control the cost by using artificial intelligence.

Artificial intelligence provides work efficiency.

Since manpower would be replaced by machines, work would be performed in a more efficient manner, depending on the type of intelligence.

If machines would be built without any flaw, no doubt they would be able to perform even the most complex tasks without any error.

One of the top benefits of using artificial intelligence in the workplace is that machines and robots can perform lengthy and important tasks in a more effective manner.

Even the machine doesnt need to take a break to accomplish a big task. Unlike humans, machines dont need to rest or take a break.

They dont need to eat or sleep like us and never fell ill or take leaves.

They only need to be recharged or refueled by an energy source to reach their full potential.

Ultimately, this enables the companies to boost their productivity by working 24 hours.

Artificial intelligence has many benefits to the human. By automating a simple task, we can save a lot of time.

Since machines dont have emotions, there are no chances of any emotional barriers getting in the way of the workplace.

This is a great advantage because having no emotions means that nothing is going to affect their performance.

However, this is completely different in the case of humans because we have emotions and many of us find it hard to work in a stressful environment.

These are all advantages of AI. It is not easy to see future programming prediction. So its time that will tell us more about it.

Now lets see what are the disadvantages of Artificial Intelligence.

Here are the disadvantages of Artificial Intelligence (AI).

There is no doubt that machines are much better when it comes to working efficiency but they cannot replace the human connection that makes the team. Machines cannot develop a bond with humans.

With more and more machines being designed, there will be an abrupt increase in unemployment and job security. Since machines are replacing human resources, the rate of people losing their jobs will increase.

Needless to say, humans will be no longer a priority for companies.

The only way to empower yourself in the IT industry is by improving your technical skills and by finding trends for future jobs requirement.

If you are aprogrammer, you should always keep analyzing the programming job requirement in the future.

Living in the 21st century, weve seen and even experienced it once or more than once in our lives that our important information gets missing due to technical issues such as machine damages or the software of our system getting corrupt.

We use computers, smartphones and other devices to store almost all our important documents, files, pictures, and videos. Once lost, it is not possible (or very difficult) to retrieve this information.

This can cause serious trouble for your businesses.

Misuse or exploitation of anything is bad.

In the case of artificial intelligence, its worse.

We often hear threats that the misuse of technology can bring the world to a destructive end. This stands true to a great extent as we have seen in animated movies and films.

If AI is given into wrong hands, high technology machines can definitely destroy society.

Wrapping Up My Thoughts on Artificial Intelligence Growth

Despite all the pros and cons Of Artificial Intelligence, Industries are adopting Artificial Intelligence to do the work more efficiently and with less cost. So as the way Big data is becoming a future trend, Artificial Intelligence is too.

We saw the advantages and disadvantages of artificial intelligence. Today machines possess almost human-like abilities and artificial is a perfect example of this fact.

As per derived knowledge, the outcomes in artificial intelligence are getting better rapidly.

Therefore, it is best to accept the changes in the world we live and take benefit from all the amazing features that artificial intelligence has to offer to us.

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8 Pros And Cons Of Artificial Intelligence (AI)