According to Statista, a market research platform, the market value for artificial intelligence (AI) is expected to grow up to nearly $two trillion dollar by 2030. Chatbots, image-generating AI and mobile applications can be considered the future trends in AI. In a conversation with FE Blockchain’s Poulami Saha, Abhijeet Satani, a researcher in the field of neuroscience, talks about how the development of AI can create an impact today and in future(Edited Excerpts).
How much has the AI industry grown till now?
The rising adoption of AI technology across a range of industries is one of the major reasons for the rise of the AI industry. For instance, AI is used in manufacturing to optimise production processes and minimise waste, in healthcare to improve patient outcomes and lower costs, and in finance to enhance fraud detection and risk management.
The development of the AI sector is also encouraged by technological advancements. For example, the advancement of deep learning algorithms has allowed AI systems to achieve accuracy.
Talking about AI, ChatGPT has been gaining attention. What are your views on that?
ChatGPT is a new, cutting-edge technology that has brought a great deal of interest and curiosity among people. While some are enthusiastic about how AI and language models such as ChatGPT can find solutions to complicated challenges, others are worried about the possible dangers and ethical dilemmas these technologies may present.
One of the main reasons ChatGPT has attracted so much interest is its capacity to produce responses to text-based inputs that closely resemble human responses. I think that AI systems may be biased or discriminatory, which could reinforce current social and economic disparities.
Can ChatGPT and other AI technologies bring a change in modern business structures?
Yes, ChatGPT and other AI technologies might bring significant changes to modern business structures. ChatGPT can impact modern businesses by improving customer service and support.
ChatGPT can also be used to automate many routine tasks eventually freeing up employees to focus on more complex and strategic tasks. This can help to increase productivity and efficiency, as well as reduce costs. It can also analyse large data and generate insights and help businesses make better-informed decisions about product development, marketing, and other areas. By providing a natural language interface, ChatGPT can improve communication and knowledge-sharing between employees, regardless of their location or language.
Can development in ChatGPT and other AI techniques become a threat to traditional industrial working methods?
The development of ChatGPT and other AI techniques might affect traditional industrial working methods. The automation of tasks through AI can reduce the need for manual labour and increase productivity, which can impact employment levels in certain industries.
Supply chains, logistics and other industrial processes may alter as a result of the use of AI to optimise company operations. The influence of AI on conventional industrial working methods can vary depending on the industry, the nature of the task, and the degree of adoption of AI technology.