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What will AI look like in the near future? Top 5 Major Industries of Artificial Intelligence
February 22, 2023

What will AI look like in the near future? Top 5 Major Industries of Artificial Intelligence

The slogan ‘technology is the future’ no longer symbolizes the future. Through different uses of Artificial Intelligence, technology has already infiltrated human daily life. In the future, inventions will rule the planet.

Artificial intelligence (AI) has expanded its wings across a wide range of industries. All of the items on the impossible bucket list are becoming a reality thanks to technological advancements. The replication of human intellect in robots that are trained to think like humans and emulate human activities is referred to as AI. The advancement in technology enables machines to learn from experience, adapt to new inputs, and execute a variety of jobs. It can help to construct a broad discipline of computer science with smart machine capabilities that execute activities similar to humans. However, AI cannot predict the entire field as a single performer. It has collaborated with current developing technologies such as IoT, cloud computing, machine learning (ML), big data, and so on. This technology invasion will eventually propel market expansion to new heights. AI researchers expect that the business will grow to US$190 billion by 2025.


History of AI

Microsoft first released IntelliSense as a visual studio in 1996. From 1957, when IBM introduced the first commercially accessible compiler, Borland launched the first IDE with the “WordStar” menu in 1981. It is difficult to pinpoint when AI first began assisting in programming since many AI applications must be regarded as AI.

We frequently consider artificial intelligence to be Magic, and when Magic becomes a part of everyday life, it loses its magical allure. But, in reality, AI has been present in programming since long before the name AI was invented in 1953 when we had the first high-level programming language. It has grown so common that even programmers are unaware of how frequently they use it

Consider the magnificent text as an example. It has aided programmers in writing speedier code. Color formatting has aided programmers in writing clean code that is easy to understand.

Most of the AI systems we’ve used in programming are similar to Oracles: you give it an input, and it returns the correct response. This is a one-way flow from the intake to the output. The complexity of programming has grown to the point where just receiving answers is no longer sufficient. Programmers require an AI system with which to converse, and this need has led to the development of AI Pair programming.

In a fast-developing sector, IFM is merely one of numerous AI innovators. For example, AI was mentioned in 2,300 of the 9,130 patents awarded to IBM inventors in 2021. Elon Musk, the founder of Tesla and a tech mogul, committed $10 million to the non-profit research organisation OpenAI to fund ongoing research – a pittance compared to his $1 billion co-pledge in 2015.

Following several decades of intermittent dormancy throughout an evolutionary phase that began with “knowledge engineering,” technology advanced to model- and algorithm-based machine learning, with a growing emphasis on perception, reasoning, and generalisation. AI has reclaimed centre stage like never before — and it isn’t going away anytime soon.

An AI system that tells us something apparent or that we can look up on Stack Overflow is not at the “AI” level required for programming. When the obvious solution is not the correct one, but the other possible or rejected by other programmers, AI can help. Extreme programming and other agile methods are not one-way.

We have a less popular tool called Pseudogene that can turn code into pseudocode so that programmers may gain a better understanding of the code and find any flaws.


Present day AI

In recent years, artificial intelligence (AI) has transformed several sectors and changed the way we live and work. As time goes on, it’s reasonable to ponder about the future of artificial intelligence.

The usual response to how negatively AI will affect the labour market appears to be: yeah, it will destroy jobs, but only those at the bottom of the food chain, and it will generate more employment to at least balance the ones it does kill.

With companies spending billions of dollars each year on AI products and services, tech titans like Google, Apple, Microsoft, and Amazon spending billions to create those products and services, universities making AI a more prominent part of their curricula, and the US Department of Defense upping its AI game, big things are bound to happen. The following are some of the most common developments that we could witness in the near future:

1. Advancements in Natural Language Processing (NLP)

NLP is one of the fields that is projected to experience substantial progress in the next five years. With the increased usage of speech and text-based interfaces, AI systems’ capacity to interpret and create human-like language will continue to improve. This will facilitate people’s interactions with AI systems and the integration of AI into our daily lives.

2. Increased Adoption of AI in Industries

Another trend we can expect to see in the next five years is the increasing adoption of AI in various industries. From healthcare to finance and retail, AI is likely to become an integral part of many businesses, driving operational efficiencies and enhancing the customer experience. For example, in the healthcare industry, AI systems can be used to analyze patient data, helping doctors make more informed diagnoses and treatment decisions.

3. Development of Explainable AI (XAI)

As artificial intelligence (AI) becomes increasingly interwoven into our lives, there will be a greater demand for AI systems that can give clear and transparent explanations of their decision-making processes. This will be critical for establishing trust and accountability in AI systems, particularly in sectors where the repercussions of poor judgments might be severe, such as the judicial system or financial services.

4. More Human-Like AI

We may also expect AI systems to grow more human-like in their skills and interactions during the next five years. This will allow AI to be used in new sectors such as customer service, education, and entertainment. AI-powered virtual assistants, for example, might grow smarter, allowing users to engage in more natural and engaging discussions.

5. Integration of AI with Other Emerging Technologies

Finally, we may anticipate AI integrating with other upcoming technologies like blockchain, IoT, and 5G. This integration will allow new and novel AI use cases, as well as new opportunities for both organisations and individuals.

Some of these advancements are well on their way to completion; others are only speculative and may stay such. All are disruptive, for better or worse, and there is no end in sight.


How is AI affecting different industries?

To begin, let us compare AI to machinery and automation. Factory employees were actually made redundant by machinery and automation. In that regard, AI is analogous in many applications today, replacing individuals with less specific skills, such as call centre operators, office assistants (to a certain extent), and, potentially soon, taxi drivers and truck drivers.

However, we would argue that AI is fundamentally different from machinery or most of the other analogies often used to address this issue since AI is expanding and is unlikely to cease increasing in the near future. It is expanding in terms of breadth (of applications and sectors), geographic and economic extent, and power (it’s capacity to address increasingly complex tasks).

A better illustration would be machinery in an automobile plant that learnt not just how to make the components one day, but also how to assemble them the next week, and then how to design automobiles a year later.

There is really little that the powerful AI of the future cannot achieve. Deep learning initiatives at Google and elsewhere are causing AI systems to learn at an increasing rate of acceleration. Advanced artificial intelligence can currently handle more complicated jobs such as medical diagnosis, financial market trading, weather prediction, and human behavioural modelling. It will soon be able to replace some types of instructors and play a role in education. It can already cope with complicated systems in software and mathematics, but it appears to be confined to applications requiring interactions with the real world (sensors are still imprecise) and with humans.

So, without straying too far into the future, we can ask,

How is AI influencing various industries? Top 5 Major Industries of Artificial Intelligence

1. Healthcare:

Healthcare is one of the areas that will most likely be touched by AI in the near future. In a variety of ways, AI has the potential to enhance diagnosis, therapy, and patient care. AI systems, for example, may evaluate medical pictures and assist clinicians in identifying illnesses and symptoms more correctly and rapidly. It may also be used to monitor a patient’s health and notify healthcare practitioners of possible problems before they become critical.


2. Finance:

AI is also expected to have a significant influence on the banking industry in the near future. Artificial intelligence algorithms may be used to examine financial data and forecast market movements and stock prices. This can assist financial organisations in making better informed decisions and lowering the chance of loss. Artificial intelligence may also be used to increase the efficiency of financial procedures like fraud detection and risk management.


3. Retail:

In the near future, AI is also expected to have a big influence on the retail business. Chatbots and virtual assistants powered by AI may be utilised to deliver tailored suggestions to customers and improve the overall shopping experience. Artificial intelligence may also be used to evaluate consumer data and assist merchants in making better educated judgements about which items to carry and how to price them.


4. Transportation:

AI is also expected to have a significant influence on the transportation industry in the near future. Self-driving vehicles and drones driven by AI algorithms are anticipated to become increasingly ubiquitous, potentially revolutionising the transportation of goods and people. AI may also be used to optimise routes, minimise fuel consumption, and increase road and air safety.


5. Manufacturing:

In the near future, AI is also expected to have a big influence on the manufacturing industry. Artificial intelligence algorithms may be used to optimise industrial processes, eliminate waste, and increase efficiency. AI may also be used to monitor equipment and forecast when maintenance is required, assisting manufacturers in reducing downtime and improving overall productivity.


With its rising technology and new possibilities, Artificial Intelligence (AI) is slowly propelling important sectors such as healthcare, marketing, finance, and agriculture forward. If adoption continues at its current rate, all of the above-mentioned future possibilities will be a reality within five years.