AI & A LEAD ROLE IN MODERN WORLD: NOVEMBER OVERVIEW
We reserved this month to talk about something very interesting and we are so excited.
You already know how much we love to talk about new inventions, modern technologies, so we decided to write about artificial intelligence (AI).
Our crash course is starting with the introduction – we want to share with you a series of short stories, covering technological, economic, policy and regulatory elements of AI.
So, let’s go! Just how much do you know about AI?
AI is a term referring to computer systems that can sense their environment, think, possibly learn and take action in response to what they are sensing or their objectives (capable of performing tasks requiring some intelligence for humans). AI processes vast amounts of data, which may originate from diverse sources (human language, sensors or text etc.). AI often relies on the use of algorithms which are composed by a set of instructions and operations (ranging from very simple to a very long and complex set of lines of programming software code).
We are going to share some examples of AI technological processes:
- Robotic process automation (RPA) – we already published a short article regarding this topic, you can read it here: https://rb.gy/rwhuod
- Computer vision
- Physical robotics
- Natural language text understanding
- Machine learning
- Virtual agents or conversational interfaces
AI has increasingly been integrated in different economic sectors such as manufacturing, telecommunications, energy production and distribution, etc.
Furthermore, AI affects business processes in many ways, but the application in industrial production brings special challenges and risks considering its physical characteristics. These features contribute to making AI industrial applications more complicated than in other digital business solution applications.
A framework for categorizing the industrial applications of AI can be based on two categories:
- enhancing the performance and efficiency of industrial processes - categorization based on the degree of automation (monitoring, optimization, control)
- and improving human-machines collaboration.
Of course, we want to list some of the industries currently identified as industries implementing AI:
- Hight tech
- Financial Services
- Consumer packaged goods
- Pharmaceuticals and medical products
- Healthcare systems and services
- Parts of the engineering sector
- Travel, transport, logistics
- Electric power and natural gas
After we identified industries implementing AI, we can continue with specific examples of AI applications and its recorded benefits.
RETAIL: online supermarkets, such as Ocado in the UK, use machine learning algorithms to steer products over conveyor belts and deliver them to customers.
ELECTRONIC UTILITIES: Google company Nest’s Wi-Fi thermostat can create a heating schedule by monitoring a user’s habits with motion sensors, detecting when homes are empty and optimising energy use.
EDUCATION: Civitas Learning and Salesforce have collaborated on services for universities that identify and engage with students at risk of dropping-out.
EU also has undertaken steps to help the development of AI applications by providing funding to diverse AI projects. Within the framework of Horizon 2020, the EU has funded a wide range of projects. For example, UNEXMIN is an EU-funded Horizon 2020 project that developed a novel robotic system, primarily for the autonomous exploration and mapping of Europe’s flooded mines, but also with other applications in mind.
It’s good to hear that European Union will continue to support development of AI in the years to come through the 2021-2027 Horizon Europe programme and the Digital Europe Programme in AI.
This was all for this round. We’ll be back with more because like you can see – AI is playing very big part in our modern world.