Technology and advancements have, without a doubt, made life easier. New inventions and innovations continue to help people go about their daily lives quickly and conveniently. What tech news sites are reporting these days is how AI is beating humans in a wide range of fields, including games, medical processes, and stock markets.
Just a few months back, Googleâ€™s AI beat a top player in the game of AlphaGo.
Humans have also conceded defeat to AI in other computer games.
- IBMâ€™s Deep Blue beat Garry Kasparov in the game of Chess Master
- The University of Albertaâ€™s Polaris beat professional players in Poker Champion.
- Watson gave geniuses in Jeopardy a run for their money.
- Googleâ€™s Deepmind beat avid players of classic Atari games.
For the stock market industry, some companies are already employing AI computers to help in managing funds and investing processes.
The most recent developments include:
- BlackRock, one of the worldâ€™s most popular money managers has cut 40+ jobs with AI algorithms replacing its human portfolio managers this year.
- Point72 Asset Management, with big trader Steven Cohen at its helm, is also aiming to replicate his profitable trades by using computer algorithms.
- There’s also the firm Bridgewater, spearheaded by its hedge founder, Ray Dalio, who is heavily investing in AI technology. He aims to automate most, if not all, of his trading processes.
In addition, two prominent firms are looking into using AI more extensively for trading and investing needs.
Two Sigma is reportedly doing some experiments on â€˜deep learningâ€™ where the behavior of neurons is being activated.
The second firm is Renaissance Technologies, which is applying for a patent that will stop traders from market orders being front-run.
Will AI replace human jobs?
While such information in gadget news is welcomed, the idea that AI will soon replace humans in doing certain jobs is not.
Its effect on the stock market will definitely become life changing. AI will change the way we invest in stocks and the whole concept of it will be modified. Imagine a world run completely by robots, leaving people jobless and feeling useless. That is one scenario where advancements in technology and AI will lead to resentment.
Changes in the medical industry
Is it really possible that, sometime in the future, the latest technology updates would bring news of an AI machine replacing doctors?
AI will lead into performing surgeries on its own and will also take the place of production operators.
Despite research and advancements, there are still some things that AI canâ€™t do that humans can. Making quick decisions is one.
Think about it
Machines operate based on preprogrammed data and algorithms.
Even if they are self-learning and they master the art of performing a heart surgery, there are cases when they need to make introspective decisions.
Studies show that decision-making during an operation is driven by intuitive (recognitionâ€primed), option comparison, rule-based, and creative strategies.
For machines to be able to do this, they have to identify the cognitive processes used by surgeons. Since no two surgeons think alike, it will take years for a machine to acquire such capability. Add to this the fact that just about anything can happen on an operating table, the data that a machine needs to learn would be massive and diverse.
When AI machines were first introduced in various industries, speed is one of its major limitations.
Their speed is often based on the level that is programmed into them, which a person has to adjust whenever needed. If a human being was working on the same project, they can adjust their speed at will.
AI is on the road to world domination, but it wonâ€™t be happening soon despite what movies like to show on screen. Reality is just full of hurdles even for artificial intelligence.