Artificial Intelligence – Comprehensive Overview
Part (3)
Future Trends and Challenges of Artificial Intelligence
Various indicators clearly show that the future of artificial intelligence is significant. It is increasingly becoming a dominant force in the economic, cultural, and social landscape worldwide. In this context, computer scientist and entrepreneur Dr. Kai-Fu Lee remarked, “Artificial intelligence will change the world more than anything in the history of humankind, more than electricity.” This suggests that AI will impact virtually every industry and individual, serving as a major driving force behind modern technologies like big data, robots, and the Internet of Things, continuing as a technological innovator in the foreseeable future.
Statistically, out of 9,100 patents obtained by IBM inventors in the last 3 years, 1,600 patents (approximately 18%) were related to artificial intelligence. Russian President Vladimir Putin emphasized the future importance of AI by telling school children, “Whoever becomes the leader in this field (referring to artificial intelligence) will rule the world.”
By the year 2025, according to projections by Markets and Markets, the value of the artificial intelligence market is expected to reach $190.61 billion, with a compound annual growth rate of 36.62% during the forecast period. The primary drivers for the AI market include the growth of big data, increased reliance on cloud-based applications and services, and rising demand for intelligent virtual assistants.
Research by IDC predicts that global spending on cognitive systems and AI will reach $57.6 billion in 2021. It is estimated that by 2021, 75% of enterprise applications will utilize various forms of artificial intelligence. Forbes has also stated that AI will enable about 75% of companies to transition to new projects, with 84% gaining or maintaining a competitive edge. China is expected to reap the greatest economic benefit from AI by 2030, followed by North America.
Despite the numerous anticipated benefits of AI and its applications, humanity is expected to face many challenges due to its widespread adoption and use. One of the primary challenges is the looming job displacement issue, which poses a significant threat to many workers in the future. Automation driven by AI is projected to replace over 75 million jobs by 2022, with more than 47% of American jobs at risk due to automation by the mid-2030s. McKinsey reports suggest that AI robots could replace 30% of the global workforce by 2030. AI expert and entrepreneur Kai-Fu Lee predicts that 40% of jobs worldwide will be replaced by AI-based robots in the next ten to fifteen years, with low-income and low-skilled workers bearing the brunt of this disruption as AI becomes increasingly sophisticated.
Despite these concerns, addressing job loss issues is possible by focusing on the following measures and strategies: reforming the education system and placing greater emphasis on skills and adaptation.
- Thinking critically, creatively, and innovatively, where these skills are challenging to replicate and program.
- Increasing both public and private investment in developing human capital to better align with industry needs and various lifestyles.
- Improving labor market conditions by bridging the supply-demand gap and creating jobs that meet market needs.
- Other emerging issues include data calculation errors due to artificial intelligence algorithms analyzing vast amounts of data requiring immense computational power.
- Concerns about public safety with the possibility of AI doing harm, such as autonomous weapons programmed to kill others, necessitating regulations and guidelines for creating or testing autonomous weapons.
- Future challenges may arise from self-driving cars, raising ethical and unintended consequences on public safety and the environment.
- Recognizing that the mentioned problems are not insolvable but require rapid technological advancement, human collaboration, and regulatory frameworks that align with customs, traditions, and existing laws.
- It is essential to raise awareness of the opportunities and challenges posed by artificial intelligence, with societies needing comprehensive strategies to address both. Individuals interested in AI, like students, researchers, and entrepreneurs, should focus on solidifying technical skills, knowledge in programming languages such as Python, data management, basics of machine learning, and algorithm fundamentals. Continuous learning and personal development are crucial for success in AI fields.
- Artificial intelligence is one of the most impactful trends across various sectors, necessitating focus on research and applications to develop and enhance different systems like healthcare, agriculture, industry, education, and services to reduce costs and improve quality output, leading to better opportunities and overcoming business challenges in the near future and beyond.
Specialist in the telecommunications and information technology sector and digital transformation
Part One of the article – Part Two of the article
