- Multiple countries are investing in AI technology for a fuss-free business model.
- India is the most digitally ready country ahead of the US and UK in adopting AI.
- Investing heavily in AI comes with its own set of pros and cons.
The race to be “AI-first”
Artificial Intelligence(AI) seems to be the key element on the technological horizon. The shift toward AI has gained an unprecedented speed in the recent past.
More and more technological firms are pushing to be independent of human resources and shifting to a robot-mediated experience in what can be described as a race to be “AI-first”.
There are many reasons for this increased dependence on AI applications. Whether it be the speed of offered solutions or the computational accuracy, AI offers a more fuss-free existence than humans could ever imagine.
Advances in AI applications
The most recent addition to the ever-evolving list of AI-mediated applications is the rise of AI chips. These chips are designed to service a variety of sectors.
Cerebral is an American technological firm that was recently in the news due to their CS-2 system which happens to be the world’s largest AI chip, the size of a dinner plate. This chip is seemingly capable of replacing close to 100 traditional graphics processing units (GPU).
Other firms which excelled in the AI-powered chip industry included Nvidia, IBM Corporation, Advanced Micro Devices, Alphabet Inc, Samsung Electronics, Apple, and Qualcomm Technologies.
India’s AI market domination
Ever since the COVID 19 pandemic, Indian technological giants such as Tata Consultancy Services(TCS) among others have updated and modernized their operating principle to get with the wave of the “new normal”.
Many firms have realized the power of AI while others have understood the feeble nature of dependency on humans for complex tasks and have made the shift toward AI.
When compared to other nations, according to official reports, 84% of the businesses in India have adopted AI, while the number drops to 68% in the US and just 46% in the UK.
Moreover, India is the most digitally ready country, with a majority of businesses recognizing the need for digital transformation, compared to just a third in the US and UK.
Another area where India leads is the number of projects taken up by businesses involving AI in the past five years. The report says that Indian businesses took up eight such projects with an average success rate of 75%.
Advantages of the AI domination
From self-driving cars to the use of AI in security, data science as well as financial services – the list of applications is endless.
The power of AI expressed through these AI chips can be seen in a variety of fields such as Natural language processing (NLP), computer vision, robotics, and network security across a wide variety of sectors, including automotive, IT, healthcare, and retail. The use of AI chips for NLP has increased due to the rise in demand for chatbots.
Signs of caution
The best explanation for danger signs to look for when converting business to AI was elaborated by Richard Heimann, Chief AI Officer at Cybraics, in his new book named Doing AI.
Heimann’s take-home message remains that when we tend to erect AI itself as our goal, we lose sight of all the important core problems we need solutions to. And thus in due course, we draw the wrong conclusions and make the wrong decisions. In simple terms, he believes that for tech innovators looking to become “AI First”, they need a lesson on how to do AI “Last”.
Also, the definition of AI is still not complete. While scientists are pushing their limits to develop the latest and most advanced technological models on this aspect, an important byproduct that people are turning a blind eye to is the aspect of safety.
Most of the AI being used in this era has been designed mindfully to make them more efficient than humans in terms of speed and accuracy but at the same time, to trigger “humanoid” responses. However, now it’s highly debatable if in a race to build the ultimate “AI” scientists will end up creating something undesirable.