The term ‘Artificial Intelligence’ was first coined by an American Computer Scientist, John McCarthy. He is also called as one of the founding fathers of AI discipline together with Alan Turing, Marvin Minsky, Allen Newell, and Herbert A. Simon. In 1955, John had submitted a proposal for the first AI conference at the Dartmouth Conference. The rationale of this academic conference was to build a machine that was capable of reasoning, thinking, solving problems, and self-improving just like a human. This was 64 years back.
From 1955 to 2019, AI’s progressive voyage has been nothing but spellbinding. What was once a figment of imagination has now turned into an unignorable reality. In the modern business world, industries such as agriculture, call centres, customer experience, energy and mining, healthcare, intellectual property, IT Service management, manufacturing, technical support, retail, software development are being presently disrupted by AI.
But this is just a fragment of information about where AI is causing its disruption. What’s more interesting is the ‘how’ side of this question. In Mirror Review’s latest magazine issue of ‘The 10 Revolutionary Artificial Intelligence Solution Providers of 2019’, we get to know more about the disruptive AI solutions providing companies who have leveraged AI’s potential and are assisting numerous organizations and industries with their smart and effective solution offerings.
We also couldn’t quench our thirst and wanted to know more about AI from the dynamic and expert business leaders of these companies. Hence, we asked them to what extent has AI disrupted the business landscape? And which are their 3 favourite AI applications? Here are some of the excerpts.
Jan Erik Solem (CEO & Co-founder) Mapillary
AI is disrupting the business landscape across the board, but there is a big discrepancy between what many have envisioned to happen and what is actually happening. Automation is replacing jobs, but it is also an important source of job creation. AI, as it stands today, allows humans to make quicker decisions and it means that we can assess vast amounts of information that would have taken much longer for humans to analyze.
My 3 Favourite Applications of AI are machine learning, semantic segmentation, and structure from motion.
Niladri Dutta (CEO & Co-founder) and Aastha Verma (COO) Tardid Technologies
AI is the Ultimate Future of Technology. The industry is evolving; the future ahead is very bright. Someone has correctly said, “Artificial Intelligence will affect everything, there is nothing it will not touch,” we are just at the beginning of the bell curve of growth. It’s a long journey with global need, increasing every second. AI augments our knowledge and enables us to take faster and quick decisions. There are lot of pros in using this evolving technology, but we must keep a constant and conscious awareness on how this technology doesn’t overtake the human control and become more aware than what we are presently ready to handle.
Our 3 Favorite Applications of AI are AI based Fatigue Life Assessment of Industrial Assets, AI based prescriptive health management for Machines, and AI based prescriptive maintenance
Kaveh Azartash, PhD, KidSense.ai
Our kids are growing up with the latest technologies around, and the lines between risk and safety are getting blurred. How does one of the fastest rising technologies — AI — affects kids’ privacy, is a critically important consideration for most parents today. Machines and smart toys, embedded with AI, bear a huge significance for kids from a learning and cognitive development point of view; and that’s why AI is now the underlying force behind robots, chatbots, learning apps, smart classrooms, and social networks.
My 3 Favorite Applications of AI are Voice-AI, Education, and Smart Assistant
Sachin Mehra (CEO) Hyperlab
There are two narratives being written about AI, one of disruption and one of creation. For example, Gartner predicts that AI for Customer Experience will “disrupt the jobs of 1 million phone-based customer support agents, and that 10% of B2C first-level engagement requests will be taken by virtual customer assistants”.
Meanwhile, the IDC calculates that AI associated with Customer Experience “will boost global business revenue from the beginning of 2017 to the end of 2021 by $1.1 trillion.” This boost will result in more than 2 million new jobs by 2021.
Much like all new technologies, AI is a tool that every modern enterprise needs to utilise in their organisation, which requires the right partners to help them deploy it.
I feel that any application that improves the customer or employee experience is a good use case of AI.
Pinaki Dasgupta (Founder & CEO) Hindsait
In last 5+ years of our work at Hindsait, we have witnessed first-hand, how AI technology has shaped the clinical cost management for health insurance companies and benefits managers. Such AI technology has generated significant incremental cost of care savings by automating and streamlining an error-prone manual review process. So, from our lens, AI has already delivered significant value in healthcare industry by automating manual clinical necessity reviews, and audits.
My 3 Favorite Applications of AI are at Phase 1, AI is being used to address inefficiencies, wastages, errors and human biases. In Phase 2 of this evolution, AI technology will be embedded at the very front end of the care delivery, at the point of care. In Phase 3, the possibilities of this AI technology will be endless and anything is possible, but we believe the future of AI in Phase 3, will be shaped by human imaginations and priorities, which are yet to unfold.
S S V S SARATH (Founder & CEO) SeekNShop
AI is like the new electricity as several experts have said and it has started transforming literally every industry ranging from Driverless cars to Natural Language Interfaces, Agricultural Robots to Algorithmic Trading, Multi-language translators to Face Recognition Models for Security along with several other implementations in Manufacturing, Banking, Health Care and everywhere. This New Age Intelligence revolution is going to help us advance as a generation where decisions and tasks can be made more informed and intelligent way but at the same time, the data scientists building AI should also ensure that it doesn’t get biased. There will be few job profiles that would transformed (not necessarily impacted) but multitude of new jobs spawned too.
My 3 Favorite Applications of AI are the impact of AI in Autonomous vehicles and In-Car Intelligence, AI based diagnosis and various other applications in Health Care and Artificial Creativity and AI in manufacturing and space travel.
Giovanni Letellier (Founder and CEO) SiO Digital
Rather than disruption, we like to talk about “eruption”. After rough patches (the AI winters of the 70s and early 90s), it all moved quickly. Research intensified, cloud computing had a huge impact. So much so that what once was wishful thinking became possible.
The business landscape has morphed on both sides of the aisle: developers and users. Like it or not, AI is in our life and our work space: watching competition, watching TV, watching videos, browsing, buying, you name it.
My 3 Favorite AI Operated Apps: Acquisio for PPC spend optimization, CanIRank for keyword ranking opportunities, and Atomic Reach for content optimization.
Amjad Hussain (CEO) Algo.ai
Disruption can be both positive and negative, I am mostly a half full kind of guy, so I look at AI as a positive disruption. What I mean by that is that there are many decisions behind the scenes which can be algorithmically made by AI without human judgment and bias which can give us an element of fairness compared to the status quo.
Also, in my view, when AI can automate more tedious and monotonous work making businesses more efficient, and therefore giving people more room for creative work and increase the quality of life for all of us. Like skepticism of past industrial revolutions – for example electricity, the automobile, the internet, etc. They have changed our lives in a meaningful fashion, and I see AI doing the same making our lives more joyful.
The next wave of AI beyond current implementations is where machines and people will get to work together, and by focusing on their relative strengths we can make our weaknesses irrelevant.
With many industrialized nations’ birth rates down and our populations aging, we need some entities to wake up every day and do the work needed to support our society and contribute to our economy, and I believe AI has a transformational potential to change everything for the better.
My 3 Favorite Applications of AI are the clever and simple apps that use AI to increase access and lower cost of healthcare – like diagnosing cataracts, etc. that has a real immediate impact on making the world a better place.
Dana Chanan (CEO) Sweetch
While AI in healthcare is still in its early days, healthcare is emerging as a prominent area for AI research and applications. Powered by increasing availability of healthcare data and rapid progress of analytics techniques, AI can bring a paradigm shift to healthcare – empowering both medical teams and patients. AI challenges the traditional, reactive approach to healthcare, offering a proactive, predictive, and preventative approach. Examples include computer-vision based image recognition enabling more accurate and cost-efficient imaging diagnostics, Deep Learning algorithms accelerating new drugs discovery, Predictive Analytics technology enabling personalized chronic diseases prediction, and analysis of biosensors and wearables data enabling individualized insights.
My 3 Favorite Applications of AI are User engagement, Personal assistance, Decision support systems.
Now that we have triggered the curiosity within you for AI and its wave of disruption, you want to know about these companies, their role and offerings, right? All you have to do is visit this page and continue to read about the featured revolutionary companies, their take on AI, innovative offerings, and a lot more.
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8 AI startups that will definitely bring change in the future
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