“Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI will transform in the next several years.”
Electricity changed how the world operated. It upended transportation, manufacturing, agriculture, healthcare. AI is poised to have a similar impact, he says. Information technology, web search, and advertising are already being powered by artificial intelligence. It decides whether we’re approved for a bank loan. It helps us order a pizza and estimate our wait time, and even tells the driver where to deliver it. Other areas ripe for AI impact: fin-tech, logistics, healthcare, security, and transportation.
Andrew Ng Video
Artificial intelligence already powers many of our interactions today. When you ask Siri for directions, peruse Netflix’s recommendations, or get a fraud alert from your bank, these interactions are led by computer systems using large amounts of data to predict your needs.
The market is only going to grow. By 2020, research firm IDC predicts, AI will help drive worldwide revenues to over $47 billion, up from $8 billion in 2016.
Still, computer scientist and Coursera co-founder, Andrew Ng says fears that AI will replace humans are misplaced:
“Despite all the hype and excitement about AI, it’s still extremely limited today relative to what human intelligence is.”