Artificial Intelligence: A Growing Disruption
Artificial (AI) is becoming the new “it” thing to invest in among technologies, and it has caused several disruptions to the technology industry. AI is a human-like computer tool that enables them to run large sets of data and self-learn different algorithms. They can also help companies make decisions in quicker time with higher levels of confidence. AI has become so popular of the past couple years due to a few reasons. All algorithms live in cloud based environments, something all companies have been switching over to. The cost of data has decreased 38% over the past few years, allowing companies to buy more and collect more data. The final reason why AI has become so popular is because investors are throwing billions of dollars in startup companies that focus on AI. All of this has started to see some true disruptions to the technology industry. We have seen AI implemented in sustainable updates, like YouTube and Netflix, to help give us more personalized recommendations. Both companies have reported an increase in viewer watch times. Perhaps the most prominent area we have seen AI take place is in a completely new market. AI has led to the creation of digital assistants like Siri, Alexa and Google which in turn have created products like Echo and Google Home. There is money behind these new speakers too, Amazon, creator of echo, currently holds around a 70% market share in what is soon to be a $25 billion market. AI isn’t going to stop at software updates and digital assistants it is starting to take over the marketing and health industries as well. What do you think is next for AI? Do you think AI is here to stay or just waiting to be phased out by the next innovation? Where would you like to see AI go in the next few years?