With the rapid technological developments that have occurred recently, artificial intelligence is expected to impact various aspects of our lives, such as the workforce, education, and climate change sustainability.
What is the Future of Artificial Intelligence?
The statistics say:
- The global market for artificial intelligence is predicted to surge in the upcoming years, making its market value read $190.61 billion.
- By 2025, the market size for wearable artificial intelligence is expected to reach $180 billion.
- The annual growth rate of artificial intelligence is expected to grow by 33.2% between 2020 and 2027.
- The global revenue of artificial intelligence is expected to grow by $83.25 billion by 2027.
- By 2022, many organizations and companies are expected to incorporate and implement 35 artificial intelligence projects.
- 86% of the Chief Executive Officers say that artificial intelligence is a mainstream technology in their office by 2021.
- Tools of data analysis and artificial intelligence are used by 48% of the companies to address data quality issues.
How Will Artificial Intelligence Impact Work Life?
According to a report by McKinsey Global Institute, robots and intelligent agents could replace more than 30% of the world’s labor by 2030. McKinsey also states that by 2030, automation will displace between 400 and 800 million jobs. This will cause approximately 375 million workers to switch careers or job categories. However, with the new technological advancements that have been occurring for the past few years, artificial intelligence is not seizing jobs but is replacing them.
With employees and executives forced to remain at home due to lockdown and the spread of COVID-19, many organizations globally have surged up to their investment in artificial intelligence tools. The ability of AI to learn and identify from patterns of data, and translate them to vital tools of technology, has proven to be extensively substantial for organizations worldwide, from delivery subscription services to healthcare providers, such as responding to the concerns caused by the COVID-19 pandemic. Over the past few months, the production of numerous artificial intelligence applications has helped in increasing productivity and yield, through functions of customer service.
Artificial intelligence will also substantially impact job search for potential employers and employees in the near future. AI already plays one of the most important contributing roles in the process of hiring, with more than 75% of the CVs being manually rejected with the help of AI through a system of automated tracking before a hiring manager receives them. In 2018, 67% of the recruiters reported that artificial intelligence tools during the hiring stages have proved to be convenient in searching for the right candidate.
How Will Artificial Intelligence Impact Education?
With the spread of COVID-19, academic institutions globally had to resort to online learning. While it has proven to be negative for some, many students have found convenience and flexibility in online learning. According to a report compiled by Market Research Engine, the artificial intelligence market is expected to reach an annual growth rate of 45%. AI has had a substantial impact on the education sector. It has evolved the way teachers do their jobs, and the way institutions work. It is also proved to be extensively helpful in numerous tasks such as test evaluation, administrative work, and grading. According to a survey, tutors spend their time with artificial intelligence for administrative work (7%), teaching (43%), making tests (11%), and planning lessons (13%).
AI also provides a virtual learning environment to students where they can access digital books and classroom videos anywhere and at any time of the day, allowing them to pursue their educational aspirations no matter where they’re located in the world. Many students have recognized and understood the convenience online learning has provided to them and are more than willing to pursue their full-time degrees through distance learning.
The boring course material has been made easily digestible and interesting with the help of AI. Students are being provided with interesting content such as video lectures, digital textbooks, and video conferences. AI can produce customizable digital content for students of all levels such as elementary, post-secondary, high school, and college. Visual content produced by AI helps stimulate a learner’s cognitive process of thinking, creativity, problem-solving, and decision-making. Since artificial intelligence will take over a majority of the jobs in the next few years, many students have resorted to pursuing tech-related degrees, which they can use to form successful careers in the AI and technology field. Artificial intelligence’s impact on the educational sector is only expected to surge in the upcoming years.
How Will Artificial Intelligence Impact Climate Change?
Similar to our work life and the education sector, artificial intelligence is also expected to impact our deteriorating climate change, which is one of the most concerning issues faced by humanity at present and we would need every tool to tackle this concern, including AI. If the deteriorating climate change is not tackled any time soon, it might result in adverse effects for the coming generations.
According to the summit partners, the appliance of massive data, digital technology, and artificial intelligence in areas of energy, building, mobility, agriculture, and manufacturing, can reduce the emission of carbon dioxide by 10%-20% by 2030. Artificial intelligence for climate action possesses the prospective to minimize the emission of global greenhouse gases by more than 4.0 percent.
With the help of machine learning, scientists can predict better climate conditions. A range of topics can be covered by climate informatics, such as reconstructing conditions of past climate with the help of data compiled from climate downscaling, and ice cores. Machine learning and artificial intelligence can also help show the effects of extreme weather conditions while measuring where the majority of carbon is coming from.
Our atmosphere is filled with the highest level of CO2, whereas the average level of the sea keeps rising. While artificial intelligence is not magical and won’t completely dissipate climate change, it is reported to help in reducing the emission of greenhouse gases. AI will help improve energy efficiency by 15% in the next 3-5 years. Other than optimizing clean energy development, and avoiding waste, it can also contribute towards making transport more efficient along with contributing to create low carbon material and creating tools to help understand the carbon footprints.
No one knows for sure to what extent artificial intelligence will impact our everyday lives, the way we work, and the way we study. However, with the recent rapid technological developments that have been occurring for the past few years, there is no denying the fact that artificial intelligence could actually prove to be one of the most substantial parts of our life.