‘Artificial Intelligence is the engine of the fourth industrial revolution’
Countries that get it right will prosper: Expert
Chennai,
August 16:
Artificial
Intelligence (AI) is the new engine that is going to launch the fourth
industrial revolution after loom, steam engine and assembly line, according to
Malcolm Frank, Executive Vice-President, Strategy & Marketing, Cognizant
Technology Solutions.
In the process,
countries that get it right will have strong GDP growth, he said at a session
on ‘What to do when machines do everything!’ organised by The Indus
Entrepreneurs (TiE) Chennai in association with Nasscom.
The top five
global companies in terms of market value are digital companies, and either
Apple or Amazon could be a $1 trillion company in next 12-18 months. “We are in
the midst of an important economic period,” he said.
Three scenarios
could emerge in future – machines will replace humans; enhance and make people
better at what they are doing; or invent entirely new jobs, Frank said.
There is a fear
that things like more machines, automation and AI could lead to layoffs, and
companies will restructure. Though data suggests that nearly 12 per cent jobs
could be replaced, nearly three-quarters of all jobs will be ‘cobots’
(collaborative robot) with AI as partner.
Cobot is your new
colleague, and GPS is a good example that helps in navigation, he said.
While man knows
the art of the job, machines know the science of the job. Man will have a
better judgement and dealing with visual cues, emotion, ethics and social
context. A person can decide what’s the right thing to do, he said.
However, in
computational capabilities it is easier for computers in data analysis and
pattern recognition. Based on all statistical evidence, machines can pick up
the most appropriate action, he said.
Source | Business Line | 17 August 2017
Regards
Pralhad
Jadhav
Senior Manager @
Knowledge Repository
Khaitan
& Co
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