Friday 6 March 2020

How AI is helping not threatening humanity

For many years the public's perception that artificial intelligence (AI) is to be feared has been fuelled by misleading films, articles and sci-fi books. However, AI is now embedded within the very fabric of modern society, including the investment space, and despite warnings from many notable futurists, AI has the potential to fight climate change.

A global report found that consumers lack an understanding of the benefits of AI with only 34% believing they used technology with AI when in actual fact the vast majority did. The research also found that 70% of consumers have fears about AI. This is simply the fear of the unknown, and it's time to turn AI apprehension into AI acclimatisation.

The only way to lessen the public's fear surrounding AI is to educate consumers on the positive everyday uses of the technology. Many market sectors, especially the energy sector, have started to implement AI and are seeing significant return on investment. AI is improving the accuracy and precision of climate change assessments with better information about actual impacts including disease, weather, infrastructure damage and other factors. As a result, scientists are able to make real-time adjustments to climate change assessments.

AI is also making assets and systems more resilient, maximizing performance and mitigating avoidable complications pre-emptively. For example, in the wind industry, AI is being used to select the right turbine for a particular region, optimize output and prevent equipment failures before they occur. With performance transparency and assurance, AI increases the confidence of energy suppliers and investors by providing data intelligence to reduce risks and maximize returns.

Read the full article here.

This article was originally posted on Forbes.