Page 42 - Payout Magazine Online Volume 9.1

How Will Alarge portion of the general public has convinced themselves that
Artificial the rise of AI will spell doom for humanity. According to these
Intelligence doomsayers, attempting to create an intelligent machine is akin to playing
Affect Your God and should be left well enough alone.
Business in
This fear of AI may have something to do with prominent scientists
and researchers, such as the late Professor Stephen Hawking, stating
to the BBC that without careful measures, AI could eventually replace
humanity as the superior race.

Elon Musk has also been vocal about his concerns for how AI will be
used in industry. In his view, it’s conceivable that in the not too distant
future humans will be competing for jobs against AI and robots.

However, the fact is, AI is now used in many industries in one guise
or another. People are already interacting with examples of AI whenever
they see a movie recommendation on their Netflix feed, or when listening
to Alexa or Google Home telling them to leave for work a little earlier due
to heavy traffic.

the Future? While we can’t yet create killer robots with complete autonomy
(unless they’re keeping such capability under wraps), AI has already
become incredibly useful in the business world and plays vital roles in
travel, retail, app development, healthcare, and Information Technology,
to name just a few.

AI Creates the Potential for Economic Upheaval

Many agree that there are two sides to AI. Artificial intelligence has
vast potential for discoveries previously inaccessible. However, without
careful management and planning, there is also the potential for economic
upheaval through job displacement and skills shortages.

Whatever your views on Artificial Intelligence, and whether you like
it or not, the machines are coming, and there will no doubt be exciting
opportunities arriving with them. AI has been coined “the fourth industrial
revolution,” with technologies coming to market that shrinks the gap between
the physical and biological worlds.

Artificial intelligence deviates from the traditional algorithmic approach which
tells a machine what actions to take during a particular set of circumstances. Such
tools have no capacity for learning, while AI embraces the idea that machines be
adaptable and able to grow their knowledge base far beyond the boundaries of what
humans are capable.

Increasing levels of computer power combined with advances in machine learning and the
ability to store big data brings intelligent machines ever closer to reality.

AI Creating Opportunities for Small Business

Small business owners would be wise to seriously consider how their business can profit
by incorporating the emerging AI technologies into their business processes. Embracing them
as useful tools will help enterprises discover new opportunities which they can use to create a
competitive advantage.

Data mining is a field which has previously only been accessible to large corporations, but AI
developments have been creating the tools that smaller companies can use to extract meaningful

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