95% of CTOs, CIOs, and IT directors believe that AI will be the most significant driver of innovation across almost every sector in the next one to five years. This is one of the insights from a survey conducted by IEEE and it speaks to the growing importance of AI. The conversation about this technology spans possibilities, sectors, and use cases, both present and predicted. Depending on where you stand, this might seem very scary or exciting, or both.

In business today, AI is being used beyond IT departments, through integration in key parts of an organization’s operations. A good rule for the extent of AI adoption is that anything that is a process will eventually be done by AI. It also provides value through analytics and engaging with people. The technology’s applications include machine learning, automation, activity recognition, robotics, activity recognition, and natural language processing. It is able to do this through a system that is built using historical data and defined by set parameters.

AI does not work for every single part of the business process, only for the ones where it makes sense; because they are repetitive or can be done more effectively by AI.

It is presumptive to have jumped into this without a simple definition of AI, and that will be remedied now. For the purpose of this piece, AI is any machine that does things the brain can do (Financial Times).

There are different views on the extent to which businesses can and should use AI. Because people make those arguments, a natural follow-up to it is what AI means for a human workforce. Different statistics paint a picture of what employment will look like as AI use increases. According to pWc 7 million jobs will be replaced by AI between 2017 and 2037 in the United Kingdom. Its data also says that in that period, 7.2 million jobs will be created. The World Economic Forum’s Future of Jobs Report also shows a similar prediction: it states that AI will replace 85 million jobs globally by 2025, while creating 97 million new ones in that time. The predictions share a trend- AI is not expected to wipe out employment, rather it will reconfigure it. It will make certain jobs pointless for humans to carry out while creating new jobs in response to the different needs that will arise as adoption increases and systems become more complex.

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