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Chapter 1 - Introduction
- Edited by J. Mark Munoz, Alka Maurya
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- Book:
- International Perspectives on Artificial Intelligence
- Published by:
- Anthem Press
- Published online:
- 02 March 2022
- Print publication:
- 11 January 2022, pp 1-4
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- Chapter
- Export citation
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Summary
Artificial intelligence (AI), or the foundation for the enhanced cognitive ability of machines, has grown by leaps and bounds over the years. It has refined and redefined business frameworks and has taken the notion of operational efficiency to an entirely new level.
As a result of AI, countless breakthroughs have taken place in many industries. Examples of industries that have benefited from AI include: healthcare (data-based diagnostic support), automotive (autonomous fleets for ride sharing), financial services (personalized financial planning), retail and consumer (personalized design and production), technology, communication and entertainment (media archiving and search), manufacturing (enhanced monitoring and auto correction), energy (smart meters), transport and logistics (autonomous trucking) and many more (PwC 2016).
AI has seeped into the day-to-day life of an individual as well, affecting the way they work, live and entertain themselves. Voice-based assistance systems like Siri and Alexa are common example of AI. Online shopping, web search, digital personal assistance, machine translation, smart homes, smart cities, infrastructure, logistics, education, driverless vehicles, and so forth are just few of the examples of integration of AI in commercial and personal applications. All the chapters in this book, contributed by authors from different parts of the world, provide an insight into the use of AI in all walks of life. AI is finding its way in each and every application at a pace one cannot imagine. By the time this book reaches the hands of the reader, there will be far more applications of AI than have been mentioned in this book.
AI can be characterized in at least five ways:
Evolving: Countless breakthroughs are taking place due to inroads in data retrieval and analysis, stronger computing power, and advances in algorithm creation. Advances in these areas, happening in tandem, accelerated the utilization of AI in organizations worldwide. However, AI is still in its infancy stage. The field is young and is rapidly changing. It will continue to evolve further in the coming years.
Global: The ability of machines to process large quantities of data instantly also means that once applied it is not constrained by geographic boundaries. Data acquisition and analysis is borderless.
Chapter 14 - Conclusion
- Edited by J. Mark Munoz, Alka Maurya
-
- Book:
- International Perspectives on Artificial Intelligence
- Published by:
- Anthem Press
- Published online:
- 02 March 2022
- Print publication:
- 11 January 2022, pp 127-130
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- Chapter
- Export citation
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Summary
The chapters in this book highlight the fact that AI is alive and well in many corners of the world. It is evident that in diverse shapes and forms, AI is having an impact on businesses, governments, economies and lives of people worldwide.
From the chapters, five key themes are notable with regard to the international practice of AI:
Common appeal – it is evident that countries in different parts of the world find AI appealing and are using it to advance operational efficiencies.
Diversity of application – while there is common interest in AI worldwide, countries and companies differ with regard to what they view as priorities or essential to their operations.
Lack of cooperation – it appears that AI is used and applied in different locations in silos and there is not much cross-country collaboration seen.
Economic importance – from the modalities in which AI is applied, it is evident that the practice of AI translates into a significant economic impact.
Technological reliance – the success of AI applications in countries is dependent on the technological infrastructure, resources and talent available in the location.
These themes suggest the following:
1. AI impacts a nation's competitiveness– countries that invest in AI and have the technological framework to implement and advance AI would gain a competitive edge.
2. Cross-country cooperation can bolster AI competencies – since country infrastructure and resources are uneven, the sharing of resources can lead to mutual benefits.
3. Advancement in AI in countries impacts corporate performance and lives of the citizenry – a country with a well-developed AI architecture provides essential support for corporations as well as government organizations, which in turn improves the lives of its citizenry.
In light of the above, the authors suggest the following courses of actions for governments, corporations, and executives and entrepreneurs.
Governments
Table 14.1 outlines important strategic considerations for governments.
These strategies underscore the fact that gaining advantages in AI does not happen by accident. For governments to optimize the economic benefits relating to AI, careful planning and well-conceived supporting investments are necessary.
Corporations
Table 14.2 outlines important strategic considerations for corporations.
These strategies suggest that corporations need to think in new ways. They need to aspire to be ‘cognitive leaders’ in their field.