Artificial Intelligence is known as the desire to replicate the human intelligence into machines with the help of algorithms and big data. With the synergy between humans and machines more than ever before, Artificial Intelligence is not restricted to innovation labs and is being hailed for its immense transformational possibilities. Software industries are standing as the top field for professionals with AI skills. Other sectors like education and academia, hardware and networking, finance, and manufacturing are also showing technological advancements with the use of Artificial intelligence.
According to a survey conducted by Pwc, it says that 71% people believe that Artificial Intelligence will help human beings solve much more complex issues and help them live a richer and a better life. Around 58-74% people say that AI will help boost economic growth, cyber security and global health and 83% of the business leaders said that Artificial Intelligence advisor will be fair and a blend of AI and human advisors to help them make promotional and profitable decisions for the company.
The study by EY and Nasscom predicted that by 2022, 46% of the workforce will be engaged in entirely new jobs which does not exist today. These jobs will give rise to the requirement of new skill sets in the employees and will change the way they work now.
In India there is a lot of penetration of Artificial Intelligence in the industries. India ranks 3rd with the highest penetration of AI skills in the workforce according to a report by Linkedin. There are several companies that are making remarkable contribution into bringing Artificial intelligence into their work culture.
Swiggy, one of the leading food delivery apps is leaning on technology, specifically artificial intelligence (AI), to help its systems match with the pace with its rapid growth. Since the last 12 to 18 months, the company has been expanding this team and putting more resources behind it by intensifying its focus on building a strong data repository to catalyse the adoption of Artificial Intelligence. With the help of machine learning, the company can train its systems to distinguish between vegetarian and non-vegetarian dishes from images. It can and also vastly expand the languages, words and strings that the customers could use to get their exact results. For example, the words like ‘chicken’, ‘murgi’, ‘murghi’, ‘koli’, ‘kolzhi’ will be recognised by the app as a poultry dish.
Companies acquiring AI based firms
Many Indian companies have been taking initiative to reach a high level and improvise themselves in the field of technology and AI. Given below are those list of companies that have acquired AI based firms to bring in advanced work culture.
A Bengaluru-based startup, founded in 2015 and received funding from top notch investors like Ratan Tata and Unilazer Ventures. It has developed a chatbot SDK (software development kit), which assists in automating tasks like online ordering and payments. With its chatbot the startup company used the machine learning and NLP (natural language processing) technology to communicate with the customers. The AI interface supports end-to-end bookings for transportation like Uber and Ola cabs and also other services like cab booking, bill payments, recharge, home services, and ordering food.
An Indian AI startup that raised around $25 million from its investors like Accel, developed an AI algorithm that can analyse patient’s samples, transfer it to a pathologist to analyse, and then deliver the final results back to the POC (point-of-care) within five minutes. This process helps to get the work done faster and deliver the emergency medicine directly to patients without waiting for them to reach a hospital. It also helps to conduct screening and diagnosis of urine, blood, and semen samples with retinal scans and x-rays and has an automated and computerised microscope, which addresses the lack of pathologists.
Artificial Intelligence has made people fear about their jobs. It is not true. Even though it has helped many companies automate their processes, artificial intelligence has helped curb mundane work and use the resources in other departments that needs more research and man power. Artificial Intelligence cannot replace everything, in fact help utilize human resources and their skills into much useful parts in the organisation. AI has to be used efficiently since it can have cons too. During the past years the use of AI has shown some downfalls too for big firms like Facebook. So, AI should be used as carefully as possible and there should be continuous feedback and maintenance so that it works properly without any bugs or errors.
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