According to Forbes, “By 2020, companies that use artificial intelligence and related technologies such as machine learning and deep learning to uncover new business insights will take $1.2 trillion annually from competitors who do not use these technologies.

In recent years, artificial intelligence has become a powerful tool. AI allows machines to think and act like humans and provide business process automation solution. Moreover, it has caught the attention of technology companies around the world and is considered as the next big technological change after the evolution of mobile and cloud platforms. Some even call it the fourth industrial revolution.

1950 – when everything began

So now this idea has been around for quite a long time but, until 1950, peoples were ignorant of the term. John McCarthy the founder of Artificial Intelligence presented the term ‘Artificial Intelligence’ in the year 1955. McCarthy alongside Alan Turing, Allen Newell, Herbert A. Simon, and Marvin Minsky is known as the founding fathers of AI.

1974 – Computers prospered!

Continuously with time, the rush of Computers began. With time, they turned out to be quicker, more moderate and ready to store more data. The most amazing aspect was that they could think dynamically, ready to self-perceive and accomplished Natural Language Processing.

1980 – The year of AI

In 1980, AI research terminated back up with a development of assets and algorithmic tools. With profound learning procedures, the computer learned with the user experience.

2000’s – Landed to the Landmark

After all the failed attempts, the innovation was effectively settled but, until it was during the 2000s that the landmark objectives were accomplished. Around then, AI flourished regardless of an absence of government assets and public consideration.

Present outcome of AI

There are so many things that AI is  used  and  much more potential that it is difficult to imagine our future without helping it, especially when it comes to a business. From workflow management tools to trend forecasting and even how brands buy ads, machine learning technologies are driving  productivity gains like never before.

Artificial intelligence can collect and organize large amounts of information to derive insights and hypotheses beyond  human  manual processing capabilities. It also increases organizational efficiency but reduces the likelihood of error and detects irregular patterns, such as spam and fraud, to alert businesses in real time to suspicious activity, among  other things. It is said that to reduce costs in several ways – for example, “training” machines to handle incoming customer support calls and replace many jobs in this way and provide digital customer journey.

Artificial intelligence has become so important and advanced that a Japanese venture capital firm has made history by being the first company to appoint an AI board member for its abilities to predict trends market  faster than a human being.

Artificial intelligence will  and is becoming  commonplace in all aspects of life, such as the future of self-driving cars, more accurate weather forecasts, or early health diagnostics,” to name a few.

Smarter Future with Artificial Intelligence

It has been said that we are at the height of the fourth industrial revolution, a revolution  completely different from the previous three. From electricity to steam and water, electricity and assembly lines and computerization to stimulating ideas about what it means to be human.

According to Forbes, the Fourth Industrial Revolution “describes the exponential changes in the way we live, work, and interact with each other due to the adoption of cyber-physical systems, the Internet of Things, and the Internet systems.

More intelligent technologies in our factories and workplaces and connected machines that will interact, display the entire production chain and make independently decisions are just a few ways that the industrial revolution will lead to progress in the business world. One of the greatest promises that the fourth industrial revolution conduct is the potential to improve the quality of life of the world’s population and to increase income levels.

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