Emerging fields of AI within the next decade
Artificial intelligence, or AI, as it is commonly called, is gaining popularity in the past few years. But what is it exactly and how is it redefining several industries in this day and age?
 
Artificial Intelligence is a branch of scientific applications that enables computers & computer-controlled robots to mimic human intelligence & decision making. In simpler words, AI helps computers do what humans do! So far, AI has revolutionized the manufacturing sector worldwide by enhancing automation and reducing errors & defects in products. AI is also why you can use a map on your phone & find the quickest way to your destination.
 
The possibilities for AI are endless. Right from self-sustainable households to self-driving public transports to virtual medical attendants, AI has several avenues to branch out. And as we can already see, these visionary ideas are becoming a reality thanks to the brilliant minds behind them.
 
Statistically speaking, market research company International Data Corporation (IDC) states that AI & cognitive systems are estimated to incur global spending of $57.6 billion in just 2021. Additionally, according to the World Economic Forum, AI is estimated to turn 85 million jobs redundant. The upside to it? It'll create 97 million new jobs!
 
As aforementioned, AI has made its mark on several industries already, but here are some sectors expected to witness significant advancements in the future.

 1. Healthcare 
According to the global Business Process Management (BPM) consulting company - Accenture, the AI segment in healthcare is expected to grow to $6.6 billion in 2021. How can AI assist a field that predominantly requires medical experts' opinions and experience? AI currently uses Cloud technology to maintain & monitor patient profiles while assessing their co-morbidities. This helps practitioners prioritize patient treatments & schedule their future appointments. AI is also using Robotic applications to assist in surgeries, thereby reducing the risk of human errors in routine surgeries. 
 
In the future, AI-assisted virtual assistants would be programmed to monitor people through their Internet of Things (IoT) devices and record any worrying signs. Additionally, in case of any emergency, they'd be programmed to contact health authorities autonomously. 

2.     Finance
Worldwide management consulting firm - Mckinsey stated that core banking operations and relevant services could be improved using AI. The resulting profits would be over $250 billion across the entire industry. By far, AI has been used to gauge the risk profiles of individuals & organizations and identify early signs of fraud or bankruptcy. It is also used to provide basic customer service & FAQs to individuals through chatbots.
 
With changing times, the application of Machine Learning (ML) with AI can contribute to a more robust customer service approach that's equal parts informative, interactive & helpful. It can also assess the consumption behaviour of customers to suggest relevant investment or money-saving instruments.
 
3.     Education
AI has made its way to the education industry but only to a limited extent. Till now, AI has been used to develop skills and testing systems in education. But in the coming years, deep-learning based AI applications can reinvent the entire education industry. To educators, AI can help ease administrative tasks and manage class submissions more effectively. They can also compile individualized growth charts and areas of improvement.
To students, AI can provide hyper-personalized learning modules that assess their growth and development. It can also use content from the internet to make learning easier - anytime, anywhere through borderless classrooms. Empathetic technologies can adjust to the growth of special needs individuals and assist them in real-world scenarios.
 
4. Cybersecurity
As per New York Times, the job market for cybersecurity will witness 3.5 million unfilled positions by 2021. Google has implemented AI assistance to sort spam & detect something suspicious on its Cloud Video Intelligence platform. IBM's Watson cognitive training is using ML to detect threats.
Firewalls & Anti-viruses have been the frontline against cybersecurity threats across many organizations & households. But very soon, AI is about to change the landscape tremendously. Coupled with ML, AI will be able to locate a breach, identify its intensity and take preventive measures within a couple of seconds. It will proactively detect changes in user behaviour and irregularities in the organization's network. Thereby, improving authentication & reducing cyber losses caused by phishing or hacking. Lastly, it'll provide high-quality work while reducing the workload on security!
 
India is no stranger to this technology! According to NASSCOM, 87% of the total deep tech investments in 2020 were in AI/ML startups. As a matter of fact, Google is backing AI research projects being conducted by institutes in India. These projects cover causes like HIV/AIDS research, risk prediction for pregnant women, and vernacular content for accessibility. 
 
Besides Google-backed AI research, we also have seen instances of Indian students undertaking ambitious AI projects by themselves. One such example is students from IIT creating a 'Recon & Report' drone for defense purposes. This drone can autonomously secure airspace and detect any signs of danger in sensitive regions. Another set of IIT students are collaborating with the Indian Government by providing an innovation platform for schools & colleges. Many IITs are taking up initiatives such as crash courses, training camps, innovation centres, and field mentorships to encourage student participation in AI. 
 
AI may not necessarily replace humans, but humans are needed to transform AI into a household technology of tomorrow! Looking at the IT trends, emerging fields & technologies, we can only deduce that both - the development in AI technology and your career in it will witness an upward trajectory! And it can all begin here, by Studying In India! With the help of STEM Education in India, you can lay a strong foundation for a successful career and build it up with the knowledge gained through your peers and mentors. The only thing between you and your future self-creating a name in AI is coming here to Study in India
 
Look out for courses in the field of Artificial Intelligence & Data Science - https://www.studyinindia.gov.in/InstituteSearch 


Student Login Register Now