In the industry of chip manufacturing, Intel won the race long ago and it was not because it had the most advanced chips, but because it brought those chips to the masses because of those chips went into billions of computers.
With IoT coming in as the next revolution of the computer age, it is not long before it will connect cars to the traffic grid and they will Self-Drive. The gigantic network of sensors on the car, will not only make the drive a luxury but will also make it safer. Think about this, if your car could know the traffic light schedule of every traffic light in the street and know the density of traffic on every road, could talk to other cars about their route, that will not only save you endless hours of traveling, but also make the roads a lot less congested and make it a lot safer. What could make this dream a reality? The sensors. After the computer chips, sensors that communicate with each other, share information and act accordingly will make each car “smart”, and a Self-Driving car is estimated to have over 200 sensors. With car sales potentially touching 110 million by 2020, the automobile industry will alone need 22 billion sensors. Now even though we already know what is going to spark the next revolution, we don’t know in what and how many ways it will change the world.
After the previous revolution, we can name this revolution the age of Artificial Intelligence (AI), or the birth of smart machines. AI is the replica of a human brain but in a machine. You’ve probably even seen these machines at work, and you might now have recognized it. The smart home agents, like Siri and Alexa, Uber’s driver dispatch, Facebook newsfeed organization, food delivery services, all of these are controlled by AI. And these are just the popular examples, AI is so common these days that most of us don’t even realize its presence anymore. There are hundreds of benefits of making these machines smart. Sorting hundreds of bits of data, finding deficiencies in business models, working independently without human overwatch, solving problems in seconds and these are just a few. Even though these tasks are taught by humans, and their smartness right now is comparable to that of humans, their efficiencies are not. These workers don’t need a day off, they don’t fall sick and they don’t need to sleep. With each advancement each day, AI is becoming the ideal business consultant, the idealistic doctor, and the perfect teaching guide for thousands of professionals. AI is not just limited to making existing things better but also at predicting things. Like, the Artificial Intelligence and Medial Epidemiology (AIME), predicted a dengue outbreak with 86% accuracy, using AI intelligence and mathematical algorithms to predict disease outbreaks. Having this kind of knowledge ahead of time, could stop or at least contain the outbreak. AI can also scan a blood sample or DNA, to detect early stages of disease like cancer, Alzheimer’s or blood pressure and diabetes. This alone could save trillions of dollars spent every year in world health care and advancements and remember, health care is just one benefit of AI. This was just for the starters. AI is already running the world. It is finding soulmates for people on websites like Match.com, advising tourist plans on TripAdvisor.com, Priceline and Airbnb. It is in our medical facilities, our cars, our appliances, and our houses. These smart machines are making profits on the stock in Wall Street without any human intervention. In manufacturing, AI can control the entire assembly line, while increasing the speed, quality, finish, and even the designs. All of this while reducing errors and delivery time by more than 30%. AI can also make agriculture more efficient and easy. Looking over the health of the crops, and reacting to hazardous conditions or making them more favorable. It is predicted that AI will produce more than 800,000 jobs and boost revenues by 1.1 Trillion in the company relations sector. With the development of self-driving vehicles, AI could potentially add $15 billion to the aviation industry, $7 Trillion to the transport industry and save as many as 37,000 lives lost in accidents every year.
AI will potentially reduce 20% waste generation, improve electricity efficiency, and can establish an automated service routine in every household. It can predict, the demand, the future supply price, keep a tally of the stock and optimize price, sales, websites and increase sales by 30% for stores.
Every industry that the AI touches will benefit from it. It is the next economic, lifestyle and the industrial boom that the world will see. And these are not my words, this is what giant consulting firms, like Accenture, promise. Every business with AI could see a potential of 40% increase in earnings by 2035. The predicted boost of economy, without calculating the general rise is about $15.7 trillion. Each and everything will see a rise in revenue. Everything, right from our government to our road and hospitals will work more efficiently. All of this explains why there is so much money invested in the development of artificial intelligence. The world is seeing AI as a game changer and no one wants to be lacking when it actually takes complete control. With every company trying to putting AI into their daily working, full automated AI-Companies are hardly a few years away. Companies like Amazon are leading the run with investments in speech recognition and robotics after learning it could generate a $60 billion extra revenue each a year and it is now launching its drone delivery service. The most amazing fact about AI is that it is still in the early stages of its rise. It is far from being completely developed. With every aspect of AI developing, it will transform the way the world works. Right from our homes, society, and localities to business models and schemes. It will create things we did not imagine earlier to making fortunes as it comes. But there is just one roadblock, that we need to jump over, to let AI release its full potential.