What is Artificial Intelligence AI

What is Artificial Intelligence (AI)?

Artificial Intelligence (AI) or machine learning is a branch of computer science that demonstrates the ability of computer-controlled robots to perform human-like functions using problem-solving and decision-making skills like human beings. The quintessential aspect of AI is its capability to rationalise and take actions having the highest probability of achieving a particular goal. 

Machine learning (ML), essentially a subset of artificial intelligence, suggests that computer programs can automatically comprehend and adjust to new data even when not assisted by human beings. This automatic learning is enabled by deep learning techniques via the absorption of large quantity of unstructured data like text, images, and video. 

These days AI is being used across several industries, including finance and healthcare. 

AI is evolving continuously, and some believe that if the innovation continues at the current pace, it won’t be long until systems will exceed the capacity of human beings in learning. There are endless or infinite ways where Artificial Intelligence finds its usability. 

In the healthcare industry, AI is being used for dosing drugs, providing different medical treatments to specific patients, and assisting in surgical techniques in the operating room. Artificial intelligence is also used in computers for gaming and self-driven cars. In the case of a game such as chess, the desired result by machines is winning it, while for self-driving vehicles, the computer system tries to ensure that there is no collision.

Meanwhile, AI detects and flags activity in financial institutions such as banks or any unusual debit card usage / suspicious account deposits, assisting a bank's fraud department. AI applications are also used to make the trading process easier.

Types of Artificial Intelligence

There are two types of Artificial intelligence. These include weak artificial intelligence and strong artificial intelligence. 

Weak artificial intelligence: It signifies a system developed to conduct one specific job. Examples of weak AI systems include Amazon's Alexa and Apple's Siri. 

Strong artificial intelligence: It refers to systems that perform human-like tasks. These tend to be more complex and complicated systems. They are typically programmed to manage situations wherein they can be asked to solve a problem without human intervention. Examples can be systems with AI applications in self-driving cars or inside hospital operating rooms.

Four Categories of Artificial Intelligence:

  • Reactive AI is the most basic AI which makes use of algorithms to improve outputs based on inputs rather than on past experiences. An example of reactive systems can be Chess-playing AIs, which adopt the best strategy to win a game. As the name denotes, Reactive AI reacts to current circumstances without depending upon memories or past events. 
  • Limited memory AI refers to AI's ability to use past experiences to make better predictions. This also includes extracting knowledge from other sources to make decisions. 
  • Theory-of-mind AI is an entirely-adaptive system with an extensive ability to learn & retain past experiences. An example can be autonomous cars. This type of AI includes advanced chat-fooling an individual to believe that AI is a human being. This technique includes understanding the needs, thought processes, and emotions of the entities they are dealing or interacting with.
  • Self-aware AI, as the term indicates, refers to the machines aware of their existence. This AI is still in an early stage, and when developed, it is expected to experience a robot with human-level consciousness as well as intelligence.

AI related concerns:

There can be both positives and negatives of Artificial intelligence. There are various concerns related to AI in civil society, these include:

  • It is believed that machines can intrude into a person's privacy.
  • Another vital debate revolves around the ethics of AI and if intelligent systems like robots should be treated with equal rights as human beings.
  • Self-driving cars have garnered widespread criticism as they involve risks and can lead to casualties. 
  • Another contentious point with AI is its impact on human employment. 

 

 

 

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au