It seems like the entire world is obsessed with AI and Machine Learning and the market is buzzing with talks on this subject alone. However, to the unaware, it may seem like a very bizarre subject. Ever wondered why AI and Machine learning are the hot topics of discussion everywhere?
Let’s first understand the meaning of AI and Machine Learning.
AI is the ability of a machine to display human like intelligence. With the help of AI, machines react and work like humans.
Machine Learning, sometimes used interchangeably with AI, provides a system with the ability to perform tasks without human interference. It makes a computer learn algorithms and statistics which allow it to take independent decisions and work without human involvement.
Now, the reasons for their popularity:
- AI assists humans and makes our work easier, error free and faster. Jobs that seem impossible can be achieved with the help of AI.
- AI handles vast amounts of data. It collects, stores, manages, and interprets data in seconds which takes hours to do manually. For example, while shopping online, AI collects information of the items you searched and places you visited and recommends related products to you the next time you shop.
- Scientists are coming up with better AI innovations every day. These AI technologies change the world for the better and increase the quality of our lives. Take for example Google Maps. This AI application provides us with a detailed map of even the smallest road on the face of this earth. We can avoid traffic and find our way around foreign cities with its help. Similarly, there are many such AI innovations which have made our lives better.
- AI is also a huge contributor to the global economy. By 2030, AI will have contributed approximately $15.7 trillion to the world economy according to PwC report. Thus, by 2030 the world economy will be $16 trillion bigger than what it is today.
These are the reasons why everyone is talking about AI and Machine Learning. They are not here to take over the human race, but to assist us to perform better jobs efficiently. If you want to work in this digital age as AI or machine learning engineer, You need to learn most in-demand skills through dedicated training programs.