The phrase ‘artificial intelligence’ may conjure up ideas of sci-fi machines taking over humanity, but increasingly, AI is all around us and used in a variety of ways. After all, the words social media algorithm meant little to most people a decade or so ago while today have a more sophisticated understanding of how information is gathered about us and shared with us online. Data is one thing, but what about some of the more exciting advances in AI? What products are available now or can you expect in the years ahead?
The ability of computers to gather and process data fast has significantly changed the financial landscape. For example, because computers can do calculations so much faster than humans, you can quickly find out what your options might be for getting loans or refinancing loans online. Introduction of AI and Cloud into accounting has made it much easier to end user to track finances online using tools such as QuickBooks Cloud Premier Hosting. Learn more about it from DaaS Providers.
You may be able to save a significant amount of money by refinancing your student loans. In minutes, you can get information on whether a lower rate is available to you, shaving years off the time it will take to repay what you owe. Another great example of AI in the finance world is the rise of robo-advisors that can help you create an investment strategy.
Smart phones seemed like a revelation when they first hit the scene less than two decades ago, but now there are smart refrigerators, smart lights, smart security and much more. Also known as the Internet of Things, these types of devices are growing in popularity and appear to be here to stay. You can get a sprinkler system that knows exactly how often your lawn needs watering and how much it needs each time, or a thermostat that makes adjustments based on the time of day or where people are in your home. A smart kitchen might include an oven that detects when your food is on the verge of burning and lower the temperature.
Researchers and manufacturers say that fully autonomous cars hitting the road in large numbers is a “when” and not “if” situation, but the truth is that for this to happen, AI will have to start making more sophisticated judgments than ever before. At present, partly autonomous vehicles generally need a driver who can take over in certain situations. One of the obstacles for truly autonomous vehicles is that ethical problems could arise that even humans do not have answers for.
In a situation in which the vehicle must choose between an action that could hurt vehicle passengers or others outside the vehicle, what should it do? These questions along with the need for regulations that have not yet even been fully conceived mean that your AI will probably be selecting the right mood lighting, music and wall colors for your living room and even preparing your meal well before it’s able to take you on driverless journeys. It is likely that safety technology in cars will become increasingly sophisticated and need less input from drivers to operate effectively.