Most people should be aware of the fact that artificial intelligence is used in many products and applications already today. But most people don’t have a clear picture of it: where this new technology comes into play, what kind of benefit it can bring to the people and why so many people are convinced of it. In this article we will to shed light on the dark. Let’s provide you some facts.
Did you know that almost 25% of all artificial intelligence use case can be found in predictive analytics? What does that mean? Let’s take the industrial sector as an example. Quality and productivity in the manufacturing industry is one key to success. Down-time of machinery costs money and therefore is actually not acceptable. With the help of AI factory operators can lift up plant availability up to 20%. Predictive maintenance is the magic word. Sensors capture readings of the state of a machine or a production line. They measure vibration, temperature, pressure or even sound. Analysis systems check whether the parameters behave normal or not, if not it’s likely that the machine is not running smoothly anymore. It can be exchanged or repaired timely. More effective quality control is a nice side-effect.
One of the core fields and second leading artificial intelligence use case today is machine learning. Although this concept is not absolutely new – first self-learning machines were developed already in the 1950s – it experienced a tremendous upswing, not least because of the rapid development of semiconductors. New processor technology allows it to process large volumes of data at high speed. Machine learning algorithms consequently are able to work more accurate and faster, and better results can be delivered for instance in personalized advertising, spam filters or speech recognition.
Latter mentioned belongs to the main core field of artificial intelligence, too. The applications based on speech recognition and response are probably the most acquainted ones. Thanks to Siri, Alexa or Cortana, most people have got in touch with artificial intelligence already. And, according to a study by McKinsey in 2017, the error rate of computer-based speech recognition decreased significantly, form 27% in 1997 to 6% in 2017. This is quite an achievement, which could be reached thanks to deep learning, a method of machine learning that uses complex neural networks to learn autonomously how something can be classified, such as speaking patterns, dialects or accents of users.
Those above mentioned are only some facts about artificial intelligence. However this subject provides much more stories you could think about. In the new issue of EBV’s knowledge magazine The Quintessence you can read about many more facts and story. For those who are eager to learn more about it should order their free copy in order to not lag behind this topic we will for sure hear more about it. Stay tuned with us!