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