The power behind artificial intelligence (AI) is just beginning to be recognised. Though AI has admittedly been around for many years, only now is the power of computing hardware and software able to effectively utilise it.
There are several ways in which AI is making our lives easier and more convenient. These generally involve software and computer programmes which can “learn” over time to recognise human preferences, as well as increasing connectivity to our various electronic devices to enable better all-round communication.
Let’s have a look at two distinct ways in which AI is set to make our lives better.
1. The Internet of Things
The latest trend to emerge in AI is the “Internet of Things”, also known as IoT. While the internet itself was a breakthrough technology in the early 2000s, AI has the potential to take this information sharing one step further by providing the tools to connect equipment, appliances and devices together – enabling control from a central location. AI helps to stream data and information from these devices (which have built-in sensors) in order for all of them to “talk” to one another.
An example may be a user informing an air-conditioner to turn on 15 minutes before reaching home, so that the interior is cool by the time he arrives home. Increasingly, these sensors will be a part of daily life in future and their usage enhanced by deploying AI.
2. Personalisation and customisation
AI is set to make our lives easier through personalisation and customisation, as machine learning algorithms pick up patterns and trends from huge amounts of data and improve the way it delivers services to the user. There are already several practical examples of customisation being achieved with AI, and many more yet to be realised.
One area where AI has been used in customisation is apparel and fashion. A UK-based company called Thread uses AI to provide personalised clothing recommendations to each customer based on their style preferences. And in the realm of sports and fitness, a well-known sportswear manufacturer collects information on physical activity, sleep and diet to make personalised, tailored recommendations on workout, health and fitness goals.
Just from these two examples above, it can be seen that AI has the potential to offer so much more by way of convenience and connectivity. We live in an exciting era of technological development, and I cannot wait to see what AI has to offer in the coming years.
Motley Fool Singapore believes the Artificial Intelligence mega-trend is one investors can NOT afford to miss out on. We think it has the potential to be bigger than the Internet, with the AI industry set to be worth US$5.8 trillion per year to the global economy.
Yang, R. (2019, may 10). 2 Ways Artificial Intelligence Will Make Life Easier. Retrieved from www.fool.sg: https://www.fool.sg/2019/05/10/2-ways-artificial-intelligence-will-make-life-easier/