We have come to live in an era where citizens, companies, and governments around the world are going through profoundly challenging times. It is here that technology can play a crucial role in aiding innovation and pioneering solutions to pressing problems. Today, AI is not just a game-changer but also a crucial building block of the world of tomorrow.
Which is why, a significant degree of R&D is transforming AI core capabilities for the better. Avant-garde technologies like automated vehicles, natural language processing to quantum computing depend on the developments in AI. Based on insights, let’s take a look at how these developments in AI shall lead to a socio-economic transformation.
AI and vaccine development
Until recently, vaccine development was considered a tedious process. It could take decades in some cases to develop a new vaccine. However, human tests on vaccines to fight covid-19 were already being conducted in March 2020, a mere 3 months since the advent of the pandemic. AI models have played a critical role in analysing the humongous amounts of early data pertaining to COVID-19 and consequently leading to the developments of vaccine. To put things into perspective, the outer proteins of a virus have tens of thousands of subcomponents. Models that use machine learning can go through this torrent of information quickly and accurately identify the immunogenic subcomponents that can produce an immune response. Such an approach makes the development of targeted vaccines easier by researchers. The advent of AI in vaccine development can have game changing implications in the near future.
As per an article, a research team has developed new AI model to counter the emerging variants of COVID-19. This AI model can also determine the efficacy of vaccines and thereby expedite its development.
Advent of robotaxis and fully automated driving
Automated vehicles have come a long since their inception, a few years ago. The technology has continued to see advancements in 2020 with some of the leading companies in the industry coming out with driverless cars and robo-taxi services. Technological developments in advanced driver assist systems, sensors, AI, and vehicle to vehicle communications have made automated vehicles somewhat mainstream today. Countries like the UK have set up centres for commercial driverless vehicle trials.
AI and the Internet of Things
Being a versatile technology, AI compliments many existing technological developments and enhances their capabilities further. The Internet of Things is no different (IoT). The converge of these technologies can lead to new opportunities for business. Using IoT and AI can lead to various benefits to consumers and businesses alike such as a personalized, proactive interventions, supply chain visibility, operations visibility, edge computing capabilities, and intelligent automation among others.
IoT can be used to track, record, and observe user patterns in interactions and AI can leverage this consumer information for better customer experiences. An article highlights that in the next few years, AI will drive 85 percent of consumer relationships.
AI can help organizations achieve new levels of efficiency and efficacy in their operations and customer engagements. However, for companies to formulate an effective AI strategy, a well-thought out approach is imperative: They have to examine their business capabilities and the technology mix that is a best fit for their needs. AI, at present, supports three critical business imperatives that acquiring key insights via analytics, engaging with employees and customers, and intelligent business automation.