Artificial intelligence (AI) and machine learning (ML) are revolutionising our lives in numerous ways. From the tailored recommendations we receive on shopping sites to the self-driving cars that are increasingly seen on our roads, AI is making our daily routines more efficient and enjoyable. However, despite these advantages, many people still find the technology confusing and intimidating. A report by PWC in 2023 states that the global GDP will increase by $15.7 trillion, or 14%, by 2030. 

Artificial intelligence increases the efficacy and speed of human undertakings. In this blog, we’ll explore how AI and ML are being used to enhance our lives and how we can make these technologies more accessible to everyone. We’ll use real-world examples and a down-to-earth approach to show you how AI is already transforming the world and what we can anticipate from this exciting technology in the future. 

AI makes education more accessible and effective

Prior to the pandemic, the digital revolution was necessary for schools to stay competitive but, owing to its advantages, it has gained greater support and financing as the outbreak has neared its limit. The new standard and culture is to be able to learn anywhere, at any time. AI-powered tools can create personalised learning plans based on student performance, enabling teachers to focus on individual needs and help pupils achieve their full potential. AI-powered tools can also help teachers grade assignments and provide feedback more quickly, thus reducing workload and enabling more timely feedback. 

Quizlet, a well-known study application, employs AI to assist users study more effectively by generating customised study routes that best address a student’s weak points and help them absorb material more quickly. Techniques for natural language processing (NLP) have proven successful for both teachers and pupils. The usage of chatbots and AI-based instructors has also streamlined the educational process. Some school districts have begun introducing chatbots that can assist students with queries about school-related issues since majority teachers are unavailable after school hours. 

AI is helping to create a more sustainable world

Up to $5.2 trillion USD, or 4.4% more than business as usual, might be added to the global economy in 2030 as a result of AI used for environmental applications. Machine learning algorithms are being used to optimise energy consumption, reduce waste, and improve supply chain efficiency. AI-powered sensors and devices can monitor and control energy use, thereby reducing costs and environmental impact. AI can also help predict and mitigate the effects of natural disasters, reducing damage and loss of life. When integrated with augmented and virtual reality, AI might be used to mimic and automate the creation of zoning regulations, building codes, and floodplains (AR and VR). 

The monitoring, modelling, and management of environmental systems at a scale and speed never before possible for the entire planet would be made possible by a real-time, open API, AI-infused, digital geospatial dashboard. This would include addressing illegal deforestation, water extraction, fishing, and poaching as well as air pollution, natural disaster response, and smart agriculture.

AI is improving customer service

Machine learning algorithms are being used to analyse customer behaviour and preferences, enabling companies to provide hyper personalised recommendations and improve customer experience. AI-powered chatbots and virtual assistants can provide instant responses to customer inquiries and reduce waiting times for support. An AI tool called ‘predictive personalisation’ can make customers’ experiences seem custom-made. AI can forecast which products a consumer might be interested in or alert them when it’s time to place a new order by considering factors such as past purchases and user behaviours. Streaming services can also recommend new music and podcasts to users along with films and TV shows.

This blog explores the positive impact AI/ML has on our daily lives. It enhances healthcare, creates sustainability, improves transportation, enhances customer service, makes education accessible, improves finance, and promotes environmental conservation. It’s crucial to use these technologies ethically and for the benefit of all. With further advancements and innovations, we can expect these emerging technologies to continue impacting our daily lives significantly in the future.

“Some people call this artificial intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we’ll augment our intelligence.” —Ginni Rometty

This article is written by a member of the AIM Leaders Council. AIM Leaders Council is an invitation-only forum of senior executives in the Data Science and Analytics industry. To check if you are eligible for a membership, please fill out the form here.

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