AI & Big Data is emerging as one of the most potentially disruptive themes in the digital world. As the world’s data grows exponentially, AI capabilities are tracking close behind, the far-reaching implications of which are becoming clearer every day. In this piece, we explore the AI and Big Data theme by discussing:
- What is AI?
- Why is Big Data key to AI’s success?
- What is the potential impact of this theme?
- What areas of the economy are expected to be most affected?
- Which types of companies potentially stand to benefit from the emergence of AI & Big Data?
What is AI?
Artificial intelligence is the concept of machines performing tasks that once required human intelligence to complete. Many use the terms AI, machine learning (ML), and deep learning (DL) interchangeably, but there are key differences between them. AI broadly encompasses the entire field of study, of which ML and DL are sub-segments.
— Artificial intelligence can be divided into two distinct fields. Applied AI refers to an application optimized to perform one specific task, like suggesting a movie or optimizing a driving route. General AI involves broader applications of AI, like a computer learning a variety of tasks and the ability to problem solve, much like a human.
— Machine learning is the process of building machines or programs that can access data, apply algorithms to the data, derive valuable insights, and then apply what they learned to other scenarios or new data sets.
— Deep learning takes AI to the next level. Inspired by the human brain, it utilizes artificial neural networks to make sense of unstructured data like images and sounds. To do so, neurons in the network analyze attributes like the shape, color, and size of an object within an image to determine whether or not the object is, in fact, a cat.