KOCHI: Artificial Intelligence (AI) is not a far-fetched dream, but it is present in various forms in our tech-savvy lives. Customer service, e-commerce, healthcare, banking, security, marketing and automobile are a few sectors in which AI is used extensively. The insight shared by K Viju, senior vice-president, Bank of America, enthralled the audience in an event organised by the Adequate Technology Promotion Council (ATPS) on Monday.
“AI is an attempt to mimic how a human brain functions. Advanced technologies are enabling AI to replace various routine human activities across the globe,” said Viju.
AI is basically enabling computers to analyse the need and to respond accordingly. The ability to do the same is dependent on the wide parameters of data being fed into the system to predict all possible requirements.
Explaining AI applications, Viju said from the automated chatbots which have started to replace the ever-delayed customer service portals, user shopping predictions on e-commerce websites, advanced medical diagnostic equipment, fraud detection in banking and stock trade, data and physical security, personalised marketing campaigns to the latest self-driving car technology, AI has already penetrated our daily spheres of influence.
Viju told Express that sensing AI’s relevance, funding is pouring in for the development of AI by global corporate behemoths. “With the global workforce shrinking across developed countries, AI has the potential to fill the gap by automating scores of routine daily jobs,” Viju said. The advancement in cloud computing has also furthered the development of AI systems across the globe.
Concluding with the ethical debate of people losing jobs due to tasks getting automated by incoming AI revolution, Viju said the same debate was held when the industrial revolution and later when the computers came in.