There has never been a better time to work in the artificial intelligence industry than now. AI has reached a critical point and is poised to revolutionize every business. Much has already been published on specific AI applications. With five bold predictions that are steeped in my knowledge and territory, I take a step back in this article to analyze how the future of AI will fundamentally reshape large parts of our economy and society over the next ten years.
Future of AI: 5 Industries that Going to be Revolutionized from 0 to 10
1. AI and Scientific Discoveries
Large-scale clinical trials and the construction of particle colliders are examples of important science that is expensive and time-consuming. In recent decades there has been significant, well-founded concern about the stagnation of scientific progress. It is possible that the era of great scientific discovery is over.
Humans are limited by the range of concepts they can explore computationally. Humans and computers can communicate a wide range of concepts. Also, a fairly wide range of concepts can be successfully handled by people working with computers and AI. With the help of AI, it is now possible to computationally analyze massive data sets and identify complex connections and patterns. The future of AI, which augments human intelligence, is poised to revolutionize scientific research, ushering in a new era of scientific discovery in the coming years.
2. AI in Foreign Policy
There will likely be significant government investment in AI. In order to maintain and enhance US competitiveness abroad, US Secretary of Defense Lloyd J. Austin III has openly endorsed the importance of collaboration with forward-thinking AI technology firms.
The National Security Committee on Artificial Intelligence concluded that the US government should significantly accelerate the development in the future of AI. There is no question that AI will be essential to the continued economic power and geopolitical leadership of the United States.
3. AI and Customer Experiences
Cryptocurrency and metaverse are two examples of z-generation consumer experiences that have generated a lot of hype. AI will be essential to enable these experiences and more experiences like them. Because humans lack the cognition necessary to overlay digital objects onto real physical environments or to understand the spectrum of human activities and their associated effects in a metaverse setting, the metaverse is intrinsically problematic for AI.
Our lives are increasingly moving at the intersection of the world of bits and atoms. In the digital world, AI algorithms may be able to pick things up much faster (for example, virtual driving to training autonomous vehicles). These are organic drivers for AI that close feedback loops between the virtual and real worlds. For example, at their core, distributed finance, cryptocurrencies, and blockchain are all about incorporating frictionless capitalism into the economy. Distributed apps and smart contracts will require a better understanding of how financial operations interact with the real world, an AI and ML challenge, to make this vision a reality.
4. AI in Climate Catastrophe
We as a society still have a lot to do to reduce the socioeconomic risks posed by climate change. Carbon pricing policies are still in their infancy and their effectiveness is debatable.
The future of AI is essential to the realization of many promising new concepts. AI-powered prediction markets that can link policy to impact and take a holistic view of environmental knowledge and interdependencies are a potential new strategy. This will most likely be driven by digital “twin Earth” models, which will require processing and analyzing staggering amounts of real-time data to identify subtle trends that the human eye cannot see. Without AI-powered risk modeling, the ability to predict downstream impacts, and the ability to anticipate unintended consequences, other advanced technologies such as carbon dioxide detection cannot succeed.
5. AI and Medicine
Since the human genome was decoded, personalized medicine has been a goal. Sadly, it remains a goal nonetheless. Creating personalized treatments for patients is an exciting new use of AI. In addition, AI has the potential to predict one-day formulations and optimal treatment regimens in near real-time without the need for clinical trials.
In other words, AI is ideally able to create and evaluate “digital twin” rubrics of personal biology and do so within the context of the communities in which a person lives. The complexity of the human body is astounding, yet our understanding of how drugs work is surprisingly limited (paywall). Without AI, it is impossible to make sense of much information from a person’s physiology, only the effects of environment, lifestyle, and diet on a person’s health outcomes. AI solutions have the potential to significantly reduce chronic health disparities in addition to cutting-edge advancements in healthcare.
In the next ten years, the future of AI will have a significant impact on our society and economy. We are now in the early stages of what many credible experts consider to be the most promising era for technological innovation and value creation in the foreseeable future.