We are entering the fifth industrial revolution with Artificial Intelligence (AI). More data is created per hour today than in an entire year just two decades ago and global data is expected to double every two years. The data we are creating is increasing exponentially and we need AI to analyze and interpret it. New applications are being developed constantly that require more data. Holograms, metaverse, brain computer interfaces and EVTOL (electric vertical take-off and landing) are just some of the technologies that will be very data-heavy.
AI leverages large data sets and uses algorithms to find underlying relationships, which can be used to drive new or better business outcomes. Recently, there has been tremendous focus on generative AI, which is AI that can generate output based on the data on which they have been trained. Some of the key AI technologies include machine learning, deep learning, predictive analytics, natural language processing and machine vision. Algorithms can be used to carry out machine and deep learning. Linear regressions and logistic regressions are some examples of machine learning algorithms. Machine learning algorithms automatically apply mathematical calculations to big data to learn from past data to produce repeatable and reliable decisions and results, such as improved video suggestions based on past video viewing activity.
What can AI do?
ChatGPT is a chatbot that can generate coherent human-like text. It is the first application of its kind that is openly available to a wide audience. Until now AI could only read and write but could not understand content. Since ChatGPT can generate human-like text, it can be used for content generation (e.g., writing essays, news articles, social media posts, marketing content, stories, music, emails), data extraction, summarizing text, optimizing web browsers, language translation and computer programming. Generative AI models like ChatGPT enable machines to understand human language and consecutively produce human-like dialogue and content. Since its launch on November 30, 2022, ChatGPT has gained significant traction, amassing one million users after merely five days.