We’re sure you’re well aware of the impact artificial intelligence has had in recent years; going from a technology that only big tech companies used on large projects to something that’s in the hands of everyone and anyone, the impact artificial intelligence has had on the world is extremely clear–and it’s major.
Understandably, you might be unsure about how exactly AI has become so powerful and how it’s been adopted in such a wide range of industries. Is it truly that versatile? Do all companies really need to adopt AI practices? These questions are all quite common and to be expected when you start diving into the nitty gritty of artificial intelligence and that’s exactly why we’ve created this article.
Below, we’ll dive into the trajectory that AI has had not only in tech, but across the board, and highlight the reasons why–and how–you can capitalize on the AI revolution to propel your career further, no matter your area of expertise.
AI’s Rise to Power
Just a few years ago, a significant portion of the population would have equated artificial intelligence with robots or flying cars and while we may reach that point one day, the AI of today is much more naturally woven into what we do. And while the use of most AI tools seems natural, we shouldn’t forget that there’s an incredible amount of research and technology that has gone into what we have at our fingertips today.
To help you have a better of idea of how we’ve arrived where we are today, let’s cover some of the history of AI:
The idea of artificial intelligence has been referred to throughout recent history, but the official phrase was only coined in 1956.
Researchers have long been trying to make computers think and act in a more human-life fashion.
The early 1980s saw a rush in research and funding to try to reveal the true potential of artificial intelligence.
In the late 80s and early 90s, investment in AI slowed and so did innovation, but it picked up again in the mid-90s.
As the turn of the century approached, more and more companies prioritized AI research.
In recent years, AI reached the hands of everyday people and companies that don’t typically invest much in tech.
Now that you understand how AI rose to the fame it knows today, let’s cover the why–why is artificial intelligence so popular? Why is it the talk of the town today? Why are hiring managers searching for candidates with AI skills? Let’s get to the bottom of it.
Why did artificial intelligence gain so much popularity?
While we can definitely attribute much of the recent rise in AI popularity to an increase in investment and research, there are a certain few reasons that are important to highlight before we dive into specific industries:
Advancements in other forms of technology: much of the potential that AI tools have is linked to processing large amounts of data or working extremely fast; this is only possible due to advancements in technology that allow for increased computer power and storage. And while this expands the potential of AI tools, it also allows for AI tools to be trained much more thoroughly because they can learn from even larger data sets.
An increase in available data: AI systems are trained on data and even a decade ago collecting data was a much longer and more difficult process, resulting in less data sets for the AI system to use. Today, however, it’s much easier to collect data, meaning AI tools are more knowledgeable.
Expanded access: AI tools were previously only accessible to those with tons of money or large computers and now that AI tools are practically everywhere, more and more people are discovering their potential and it’s becoming ingrained in everything we do, it’s becoming a regular part of daily life for all.
A wide potential: as more and more companies take advantage of AI tools for their specific needs, we’re realizing that AI’s reach is incredibly broad and can be used for a wide range of applications. In addition to simply being useful to increase efficiency and automate processes, AI tools can take a wide range of tasks.
How Artificial Intelligence is Revolutionizing Industries
As we think we’ve made it clear above, artificial intelligence’s power is quite broad and wide-reaching and that’s precisely how it’s had such a transformative impact on today’s world. We’ll dive into some specific industries below in just a second, but first we’ll cover three main abilities that AI tools possess that have made it an enviable tool across the board:
Increasing efficiency: AI tools don’t need to sleep, clock out, eat, or take breaks–with the help of AI tools, companies are able to have constant checks on their systems, such as cybersecurity watches in place to ensure that everything is monitored 100% of the time.
Processing data: with data comes better decisions and thanks to its ability to both collect and process large amounts of data, AI systems can make more accurate and data-backed recommendations.
Automating tasks: no matter how exciting your role is, we’re sure that there will be some tedious tasks like data entry or timesheet review that are a drag. Well, luckily for you, AI can automate these repetitive tasks, freeing up your time for more exciting (and demanding!) tasks.
Industries impacted by AI
With such a wide reach, we’re sure you won’t be surprised that AI’s impact has reached practically every industry. And while we could create quite a long list, we’re going to highlight just some of the main industries impacted by AI to help you understand its full potential.
Healthcare
Artificial intelligence has a truly transformative effect on the healthcare field and that’s because in addition to its ability to automate tasks that free up a healthcare professional's time, the way it can identify patterns and trends in data is incredibly helpful when it comes to diagnosing and treating patients. When doctors are able to compare a patient’s test results or symptoms to large databases and see similar cases and what worked for them, they can make better recommendations to their own patients.
Finance
In our increasingly digitized world where the threat of credit card or identity theft is always present, the ability to immediately flag potentially fraudulent activity is absolutely essential. And thanks to AI’s ability to recognize unusual activity, users can be immediately warned in the case of fraud.
In addition, AI chatbots are incredibly helpful when it comes to answering client questions or concerns and do so without requiring a human.
Marketing
Users want to feel special and receive a personalized experience when browsing a site, but with such a wide range of clients, many companies struggle to make their users feel this sense of uniqueness. With AI, however, companies can provide increasingly personalized experiences to their users through collecting and analyzing their browsing data, suggesting products or services that they’d statistically take an interest in.
With the help of AI-processed data, companies can also better understand their target audience and what they want, creating more accurate and attractive products and services.
The range of AI is wide reaching and will only continue to grow and there’s never been a better time to take advantage of all it offers and make yourself a more attractive (and competitive) candidate.
