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Promising AI-Based Future is Closer than it Looks

The pace of AI growth is being accelerated by huge Venture Capital funds flowing into AI related startup. We are closing on an AI future rapidly…

Movies and pop culture have established the image of Artificial Intelligence (AI) as the ‘Big Brother’ who will watch over everyone and everything. Humans will become their slaves. However, that is one of many possible versions of AI.

Return on humans is decreasing. We are reaching a saturation point of our intelligence and workforce. We need to augment our capabilities. Human and Machine intelligence can push humanity to new highs.

Futurists like Ray Kurzweil talk about singularity where man and machine will merge and become one. AI can be one single entity, or there can be multiple AI with different purpose and personalities, which may be customizable. Every human can have their own AI suitable for their capabilities and intelligence.

Questions come up about ethics and fair use of individual data. Discrimination in any form was never the goal of humans. We vie for a society with equal opportunities for everyone. It is a high time to put regulations in place to control usage of individual data and also encourage competition. User data should not be proprietary of different firms. The government should try to implement data vaults where open source data should be public. There should be fair competition among industry participants, and none should get an undue advantage due to data.

Source: Galaxe Solutions

We still are type I civilization based on the Kardashev scale. AI probably can help us scale the universe faster. It can perhaps help us in developing new technologies, algorithms to understand the world better. Our sensory perceptions limit us. AI can detect many things that skip the human senses.

AI-related funding significantly jumped last year, increasing 72% compared to 2017, despite a dip in deal activity, with 466 startups funded from 533 in 2017. (Source: PwC, CB Insights)

AI related startup funding has seen immense growth over the years, with 2018 alone accounting for $9B in funding. International Data Corporation (IDC) predicts that the compound annual growth rate for global spending on AI will be 50.1%, reaching $57.6 billion by 2021. This is thanks to investments in retail, banking, healthcare and manufacturing, which will make up over half of the worldwide spending on AI.

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