Artificial Intelligence explained

Artificial Intelligence is the term for the intelligence displayed by machines. In today’s world, Artificial Intelligence has become extremely popular. It’s the simulation of natural intelligence in machines that have been programmed to learn and emulate human behavior. These machines can learn from their mistakes and carry out jobs that are similar to those performed by humans. AI will have a significant impact on our quality of life as it develops. It’s only natural that everyone wants to be involved with AI technology in some way, whether as a consumer or as a professional.

Artificial Intelligence (AI) is causing a seismic upheaval in the world of technology, allowing it to be used for increased production and success while also simplifying the system. AI is increasingly being employed in various industries, from your cell phone to disease diagnostics, providing high-performance and precise gadget operation with quality. It is a game-changing technology in every field, not just technology.

Currently, AI is commonly used in the following:

  • Google’s AI-powered predictions (E.g.: Google Maps)
  • Ride-sharing applications (E.g.: Uber, Lyft)
  • AI Autopilot in Commercial Flights
  • Spam filters on E-mails
  • Plagiarism checkers and tools
  • Facial Recognition
  • Search recommendations
  • Voice-to-text features
  • Smart personal assistants (E.g.: Siri, Alexa)
  • Fraud protection and prevention.

Scenario in India

The Artificial Intelligence technology function has been classed as an emerging technology sector as part of the larger Data Science area. Furthermore, the AI business in India has been controlled by MNC Technology and GIC or captive firms until recently. Domestic enterprises, Indian startups, and even international technology startups across a variety of sectors have yet to make a substantial investment in the Indian AI market in terms of operations and size. Furthermore, until a few years ago, IT services and boutique AI & Analytics organizations in India had not built full-fledged AI capabilities for their clients.

However, the AI market is changing. The Data Science field in India, specifically the AI function, is expanding into an innovative enterprise segment, as indicated in the Computer Vision Market report and the AI and Analytics start-up investment report. MNC Technology, Domestic, Advanced Engineering, Healthcare, and Semiconductor organizations, to name a few, are currently establishing advanced Artificial Intelligence capabilities in India and providing top-notch AI services to companies in a variety of industries and locations.

The Obstacles to India’s AI Development

  • To date, AI-based applications have generally been driven by the private sector and have been focused on consumer goods. Because of the technology’s growing importance and repercussions, politicians in government must pay attention.
  • Early AI success stories from the United States, China, South Korea, and other countries offer public and commercial AI research financing methods that India could investigate.
  • In today’s economic world, the sequential system of education and work is obsolete, as the nature of jobs shifts swiftly and skills become desirable and obsolete in a few years.

AI Adoption in India

Large multinational technology conglomerates, selected startups, and GICs/GCCs (Global Capability Centers) based in India are currently driving AI adoption in India. The following are some of the industries that have used AI:

Banking and financial services: A few Indian organizations have begun to use AI to solve India-specific problems. For example, a top fintech firm uses artificial intelligence to provide customized financial products for the vastly diverse rural population. Only a few other Indian banks have used AI to improve customer experience, raise investment returns, and apply algorithms in risk management (for example, fraud detection).

Pharmaceuticals and healthcare: A Hyderabad-based healthcare business has unveiled AI-powered low-cost ventilators that can record patient data and make medical intervention decisions. Similarly, a Mumbai-based business employed artificial intelligence to analyze chest X-rays to determine the amount of infection in the lungs and aid in tuberculosis detection.

Agriculture: In Andhra Pradesh, a business is employing AI to power a sowing app, resulting in a greater crop output per hectare. AI algorithms are also being used to monitor crop and soil health, with AI-based analytics solutions being used to schedule activities such as crop harvesting, insect control, and fertilization to maximize yields.

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