It’s hard to overstate the relevance of AI’s (Artificial Intelligence) present and future. AI and Machine Learning have been discussed, admired, and criticized at length over the last few years. And passionate debates continue. It’s clear that IT professionals need Artificial Intelligence training to address new developments.

Artificial Intelligence means designing and developing machines and computer systems with the ability to think. It's a technique that allows machines to imitate human behavior for performing tasks that would usually require human intelligence.

John McCarthy, the father of AI, explained it as “ the science and engineering of making intelligent machines, especially intelligent computer programs. ”

We have made immense progress from 1923 when the term “robot” was used for the first time, and from 1956, when the term “artificial intelligence” was first used, all the way to the 1990s, when essential breakthroughs in the AI sector occurred.

The World Economic Forum describes the age of AI as the new dawn of industrialization that will re-define the way we transact and communicate.

2019 is a record year for global enterprises’ interest in AI for achieving business goals. Worldwide spending on AI is set to hit $35.8 billion this year, and there is a renewed focus on Artificial Intelligence training.

By most accounts, the future of AI looks bright for IT organizations. However, positive sentiments are also accompanied by a sense of skepticism. Let's have a quick look!

Encouraging Signs

The Global AI market is expected to grow at a CAGR of 40% until 2023 .

of . Annual worldwide revenues for the AI software market could reach $118.6 billion by 2025.

AI could potentially contribute $15.7 trillion to the global economy, and it is projected to create 38.2 million job opportunities by 2030 .

. 17% of 30 Global 500 companies are using AI/machine learning at scale.

are using AI/machine learning at scale. 77% of surveyed IT leaders in the US and the UK say they have implemented some AI-related technologies in the workplace, and 31% have already seen significant business value from their AI efforts.

IT leaders in the US and the UK say they have implemented some AI-related technologies in the workplace, and business value from their AI efforts. 62% of companies are using automation for eliminating transactional work and replacing repetitive tasks. 47% are augmenting existing practices for improving productivity.

are using automation for eliminating transactional work and replacing repetitive tasks. practices for improving productivity. Over 30% of companies have allotted $50 million or more for smart automation projects.

Reasons to Worry?

Enterprises are experiencing numerous ROI challenges. Many are either not tracking ROI or are not witnessing returns on their current AI investments.

AI may replace almost 50% of unskilled labor in the next 5-7 years .

. Automation, if not planned appropriately or addressed holistically, can lead to disastrous consequences. It can affect 60% to 70% of current jobs.

of current jobs. By 2030, 1.3 million workers in the US could be affected.

AI’s transformative impact on every industry is undeniable. US AI/Machine learning startups have so far raised $6.62 billion in 2019 . The implementation has considerably increased, and we are now moving from awareness to adoption.

Let’s briefly review some AI implementations, as well as the pros and cons of implementation. We’ll explore a useful platform for Artificial Intelligence training for IT professionals.

AI Applications

Strategic Games: Examples include chess or tic-tac-toe. The machine can process multiple steps, devise various strategies, and utilize lateral thinking.

Examples include chess or tic-tac-toe. The machine can process multiple steps, devise various strategies, and utilize lateral thinking. Natural Language Processing: Communicate with computers that understand human language.

Communicate with computers that understand human language. Vision Systems: Interpret data and grasp visual inputs on the computer.

Interpret data and grasp visual inputs on the computer. Speech Recognition: Systems comprehend the language used by humans and talk to them. They grasp slang, accents, and grammar.

Systems comprehend the language used by humans and talk to them. They grasp slang, accents, and grammar. Handwriting Recognition: AI enables the reading of specific handwriting, written either by a pen or a stylus, which can be transformed into an editable text.

AI enables the reading of specific handwriting, written either by a pen or a stylus, which can be transformed into an editable text. Intelligent Robots: Robots are efficient, have vast memories, and adjust to different environments. They have sensors for detecting temperature, light, movement, and pressure.

AI Advantages

Reduces Errors: Ensure accuracy with a higher degree of precision; AI recognizes and rectifies errors.

Ensure accuracy with a higher degree of precision; AI recognizes and rectifies errors. Daily Application: Computed methods for automated learning and reasoning are a common phenomenon in our everyday lives. Examples include the use of GPS, smartphones, and Siri for Apple devices.

Computed methods for automated learning and reasoning are a common phenomenon in our everyday lives. Examples include the use of GPS, smartphones, and Siri for Apple devices. Availability: Machines, unlike humans, can work for long hours and perform tasks without compromising the output quality.

Machines, unlike humans, can work for long hours and perform tasks without compromising the output quality. Repetitive Tasks: AI algorithms are used for repetitive tasks that can be time-consuming and monotonous.

AI algorithms are used for repetitive tasks that can be time-consuming and monotonous. Medical Field Applications: AI can be used for identification of neurological diseases and cancer risks.

AI can be used for identification of neurological diseases and cancer risks. Digital Assistants: Advanced organizations use avatars, duplicates, or clones for communicating with users, resulting in less manpower, no emotional intelligence, and the pure application of logic.

AI Disadvantages

Cannot Replicate Humans: Machines are without emotions or moral values, and many believe that human intelligence cannot be duplicated. They can only perform what is programmed, and they are not capable of differentiating between right or wrong.

Machines are without emotions or moral values, and many believe that human intelligence cannot be duplicated. They can only perform what is programmed, and they are not capable of differentiating between right or wrong. Huges Costs: Creation and maintenance of AI involve huge costs as they are incredibly complex machines.

Creation and maintenance of AI involve huge costs as they are incredibly complex machines. No Scope of Improvement Through Experience: Humans depend on experiences to boost their performance. However, AI cannot be improved by gaining experience.

Humans depend on experiences to boost their performance. However, AI cannot be improved by gaining experience. Unemployment: Replacing humans with AI or machines may lead to large-scale unemployment. Excessive dependence on AI can produce harmful effects on creativity and thinking abilities.

Learned and applied constructively, AI and Machine Learning skills can help you take advantage of data analytics and automated processes. They can also enable cost-saving and advanced security.

AI, machine learning, and robotics must add to human intelligence and improve the way we think, operate, or live our lives. Artificial Intelligence Training for IT companies is a great value-add not only for your business prospects but also for your employees. You may explore AI and Machine Learning Courses from NetCom Learning .

Sources: Wall Street Journal, Global News Wire, Media Post, Tech Crunch, Tractia, SITA, Deloitte 2019 Global Human Capital Trends, Carnegie Endowment for International Peace, AI Global Surveillance Index, Consumer Technology Association Survey, KPMG 2019 Enterprise AI Adoption Study, Mindtree survey of 650 IT leaders in the US and UK, BNY Mellon Investment Management and CREATE-Research, Crunchbase News, and www.analyticsinsight.net.