Let's face it, artificial intelligence (AI) is growing at an exponential rate, and it's rightfully gaining significant recognition from investors. AI has the capacity to transform everything, from how we shop to even eradicating diseases.

Read on to discover seven things you may not have known about artificial intelligence.

1. AI will one day be smarter than humans
Due to how fast AI is advancing, it has not become a question of if, but when?

Researchers believe that AI will become smarter than humans within this century. And with machines being free of biological limitations, such as restricted memory space and slow processing speeds, you can see how that may one day be possible. AI will likely be able to perform nearly all the same tasks that humans can do, if not better!

Now, the average life expectancy in Australia is just over 82 years. So that means there is every chance that someone who is born today, or even someone who is reading this right now, may experience a world where robots are smarter than humans! Now that is a scary thought.

2. AI is... Everywhere!
While some minds may jump to scenes from movies like 'I, Robot' and 'Ex Machina', when they think of artificial intelligence, the truth is, AI can be seen in countless activities and interactions from our everyday lives.

Now, it may be somewhat obvious that you're interacting with artificial intelligence when you're asking Siri to tell you a joke, but what about those less obvious interactions? Like Uber giving you an ETA on your ride. Banks checking your accounts to see if there is any fraudulent activity going on. Amazon suggesting products to you based on your previous purchases and browsing history. Your email provider moving your junk mail to another folder. Twitter scanning for offensive and abusive accounts. Bumble screening your photos, so you don't post shirtless mirror selfies. Yep, that is all AI hard at work, and that is only scratching the surface.

So if you are uneasy about the use of artificial intelligence, it may be alleviating to know that most of us have been using AI on a daily basis for many years.

3. AI can learn
That's right - computers can learn all on their own!

One of the first examples of a computer 'learning' was created by Google. They created a powerful AI system that was able to teach itself (without the confines of human knowledge) how to play the ancient Chinese game, Go! This AI system, named AlphaGo Zero, was only provided the rules of the game and it then went off to learn how to play by playing against itself. Zero began performing at a beginner human level, but just in a matter of days, it established new strategies and moves that we, humans, have never even thought of before! AlphaGo Zero is now the world's greatest Go player. Is this just the beginning of robots being better than us?

4. The business impact of AI is REAL.
Artificial Intelligence has been gathering a fair bit of moment in this century, so much so, that new artificial intelligence companies have been created 14 times more often since 2000!

It has been predicted that 70% of companies will have adopted some form of artificial intelligence by the year 2030, and as well as this, 72% of business leaders believe that doing so will be a 'business advantage'.

5. The AI marketing will be worth heaps!
Artificial intelligence could potentially contribute up to $15 trillion to the global economy by 2030, with China seeing the most significant economic gains with a GDP boost of 26%.

6. AI will influence a lot - even jobs!
As artificial intelligence continuously improves, the discussion on its impacts on employment gets louder and louder.

Now, you may have heard people say that "robots will take over your jobs", but this isn't necessarily founded. Technology has been advancing at a relentless pace for the past 250 years; however, employment rates in the US have remained consistent, even with radical technological advancements such as electricity and the internet.

It's simply easier to imagine and understand how existing jobs would be disrupted by new technology rather than envision what new jobs a new technology could enable. AI will create millions of jobs that are far beyond our ability to imagine and has the potential to even boost employment rates.

7. Tech Leaders are concerned about AI
Artificial intelligence experts such as Stephen Hawking and Elon Musk have openly expressed their concern about the future of AI and its impact on society. So much so, that these guys even signed an open letter (along with 100 other tech experts) urging the United Nations to ban the development and use of artificially intelligent weaponry.

Hawking states that "the rise of powerful AI will either be the best or the worst thing ever to happen to humanity. We do not yet know which." Chilling stuff.

The truth is, there are lots more to learn about AI and its implications to various industries and fields. This is why, together with Algebra University College (a private college in Zagreb, Croatia which focuses on digital technologies), we designed a short term overseas study program, Artificial Intelligence: The Ethical and Business Impacts! This program is open to all Australian university students and will be running for the second time in January 2020! 

(Further program details: Artificial Intelligence: The Ethical and Business Impacts)

 

Additional Resources:

1. AI will Create Millions More Jobs Than it will Destroy. Here's how: http://www.fish4parts.co.uk/blog/artificial-intelligence-developing-faster/

2. Artificial Intelligence is Developing Faster Than You Think, and Speeding Up Exponentially: http://www.fish4parts.co.uk/blog/artificial-intelligence-developing-faster/

3. PwC's Global Artificial Intelligence Study: Exploiting the AI Revolution: https://www.pwc.com/gx/en/issues/data-and-analytics/publications/artificial-intelligence-study.html

4. "The Best or Worst Thing to Happen to Humanity" - Stephen Hawking Launches Centre for the Future of Intelligence: https://www.cam.ac.uk/research/news/the-best-or-worst-thing-to-happen-to-humanity-stephen-hawking-launches-centre-for-the-future-of

 

Hello! My name is Jemma and I am a Student Experience Coordinator here at AIM Overseas! I love to play Ultimate Frisbee, host trivia nights and nestle into a good painting session! I believe travel provides an education in itself, and I am exceedingly privileged to be involved in supporting the journey of students through an incredible life experience of studying abroad!