• Thursday, February 29, 2024
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BusinessDay

5 ways AI will change our lives

‘Nigerians most trusting of generative AI tools’

Artificial Intelligence (AI) is rapidly transforming the world, from self-driving cars to intelligent virtual assistants, AI is becoming an integral part of our daily lives.

The potential of AI has captured the imagination of scientists, innovators, and entrepreneurs, leading to considerable investment and research in this field. As AI continues to advance, it is important to examine how it will shape the future and change our lives.

Bill Gates, Microsoft co-founder, who says he’s been thinking about agents for 30 years emphasised that in the next five years, everyone will have their artificial intelligence assistant, or agent, that will be a frequent voice in your ear and will help you with everything from deciding where to go on vacation to manage your friendships and more.

To Gates, an agent is a type of AI software that “responds to natural language and can accomplish many different tasks based on its knowledge of the user.”

In a report by Megatrendmonitor, a London-based tech news blog, one of the most significant ways in which AI will impact our lives is through automation.

“In the coming years, AI technology is expected to automate a wide range of tasks across various industries. This could lead to significant improvements in efficiency and productivity, as repetitive tasks can be performed more quickly and accurately by AI systems. For example, in the manufacturing sector, AI-powered robots are already being used to handle tasks such as assembly and quality control. This has enabled companies to increase their production capacity while reducing costs,” it said.

Moreover, AI is also expected to revolutionise the healthcare industry. With the help of AI-powered diagnostic tools, healthcare professionals will be able to make more accurate and timely diagnoses, leading to better patient outcomes. Additionally, AI can be used to analyse large volumes of medical data to identify patterns and trends that can be used to develop more effective treatments and drugs.

According to the report, AI has already been used to discover new drugs and develop personalised treatment plans for patients, showing its potential to transform the healthcare landscape.

Furthermore, the rise of AI is likely to impact our working habits. As AI and automation technologies continue to advance, there is a growing concern about the potential displacement of jobs. While it is true that some jobs may be automated, AI is also expected to create new opportunities and industries. For example, the development of AI will lead to an increased demand for professionals with skills in data analysis, machine learning, and programming.

A report by the World Economic Forum suggests that AI will create 58 million net new jobs by 2022, especially in fields such as data analysis, computer science, and engineering.

In addition to its impact on industries and the workforce, AI also has the potential to transform the way one interacts with technology. Intelligent virtual assistants, such as Amazon’s Alexa and Apple’s Siri, are becoming increasingly sophisticated, allowing users to perform a wide range of tasks simply by using voice commands, the report by Megatrendmonitor said.

“These virtual assistants are expected to become even more intelligent in the future, allowing for more natural and intuitive interactions. For example, AI-powered virtual assistants could be used to help people with disabilities by providing personalized support and assistance as they go about their daily lives,” the report stated.

The report also disclosed that one of the key areas where AI is expected to make a significant impact is in the field of transportation.

It said, “The development of self-driving cars and autonomous vehicles has the potential to revolutionize the way we travel. With AI at the helm, these vehicles can navigate traffic, make split-second decisions, and adapt to changing road conditions, making travel safer and more efficient. This technology has the potential to reduce accidents, traffic congestion, and carbon emissions, leading to a more sustainable and convenient transportation system.”

However, the widespread adoption of AI also raises important ethical and societal considerations. As AI becomes increasingly integrated into our lives, there are concerns about privacy, bias, and the potential misuse of AI technology.

For example, AI algorithms have been shown to exhibit biases based on race, gender, and other factors, leading to unfair or discriminatory outcomes. Additionally, the growing use of AI in surveillance and security raises concerns about the impact on civil liberties and individual freedoms. Addressing these ethical and societal challenges will be crucial to ensuring that AI technology is used responsibly and equitably.