Impact of Artificial Intelligence (AI) and Machine Learning (ML)
Artificial Intelligence enables machines to carry out repeat tasks efficiently.
Machine Learning is an application of AI which enables machines to learn for themselves based on the data given.
Artificial Intelligence based devices and systems are designed to intelligently to do financial tasks or to manoeuvre a vehicle.
The emergence of the internet, and the huge increase in the amount of digital information being generated, stored, and made available for analysis is driving development of AI and ML.
A Neural Network is a computer system designed to work by classifying information in the same way a human brain does. It can be taught to recognize, for example, images, and classify them according to elements they contain.
Essentially it works on a system of probability – based on data fed to it, it is able to make statements, decisions or predictions with a degree of certainty. The addition of a feedback loop enables “learning” – by sensing or being told whether its decisions are right or wrong, it modifies the approach it takes in the future.
Machine Learning applications can read text and work out whether the person who wrote it is making a complaint or offering congratulations. They can also listen to a piece of music, decide whether it is likely to make someone happy or sad, and find other pieces of music to match the mood. In some cases, they can even compose their own music expressing the same themes, or which they know is likely to be appreciated by the admirers of the original piece.
Artificial Intelligence and ML can automate mundane tasks in every sector from banking to healthcare.