AI in the Near Future: Transforming Industries, Empowering Innovation
Artificial Intelligence and Industries | Roshan Birjais
In the not-too-distant future, get ready to witness the artificial intelligence (AI) uprising – it’s not just about fancy robots and sci-fi dreams anymore. Brace yourselves because AI is about to turn our lives upside down, inside out, and all around!
Picture this: AI isn’t just lurking in the shadows of Silicon Valley anymore; it’s about to kick down the doors of every industry, from mom-and-pop shops to multinational conglomerates. And guess what? Those big corporations are about to get even bigger, thanks to AI’s knack for streamlining operations and automating everything from your morning coffee order to intergalactic space travel.
But wait, there’s more! High-performance computers are about to get even faster, making scientific breakthroughs so mind-blowing you’ll think you’ve stepped into a sci-fi movie. As for robots? They’re about to become so intelligent and versatile. Autonomous agents have become the brains behind the operation, solving problems faster than you can say “robot uprising”. Who needs humans anyway when you’ve got AI on your side? In fact, enormous companies will resemble those tiny clown cars at the circus; you’re expecting a whole troupe to tumble out, but surprise–it’s just a couple of folks running the entire show!
The healthcare sector is about to get a serious upgrade, with AI integration revolutionising everything from diagnosis to treatments to patient care. Companies like Neko Health, Prenuvo, and Ezra offer full-body scans and MRIs that are not just quick and less zappy, but also as comfortable as binge-watching your favourite Netflix series. Simultaneously, AI is also a protein mixologist, with Meta’s ESM-2 and Salesforce’s ProGen shaking up the recipe books. They’re rifling through vast libraries of protein sequences to whip up concoctions that might just outsmart brain boggles and immune system tantrums, including that pesky rheumatoid arthritis. Merging AI with CRISPR technology has sharpened the accuracy of gene editing, allowing the meticulous analysis of massive genetic datasets, while Google DeepMind’s Med-PaLM provides high-quality answers to medical questions. Although the healthcare sector stands to undergo significant changes, it nonetheless requires a more dependable infrastructure. Even with systems boasting 100% accuracy, complete reliance remains elusive. This scepticism leads me to believe that healthcare will be the last frontier for full dependence on AI.
The automotive industry’s AI future holds great promise, with advancements aimed at enhancing driving, development, manufacturing, marketing, fuel efficiency, safety, and even sales. As AI integration burgeons in vehicles, projections suggest that by 2030, AI technology will be ubiquitous in 95- 98% of new cars [1]. The integration of autonomous robots and machine learning in the automotive industry–exemplified by Ford’s use of Cobots for efficient car sanding and BMW’s AI-driven robots in Spartanburg–enhances productivity, reduces environmental impact, and generates significant cost savings. Mercedes-Benz’s collaboration with NVIDIA for digital twin technology in its MO360 system streamlines supplier coordination, halving the process time [2]. This sector’s robust adoption of AI technologies is underscored by a projected market value of $7 billion by 2027 [3], making it a frontrunner in AI-enhanced manufacturing. Automation is set to reduce costs while simultaneously enhancing performance and efficiency.
Gartner reports that chief supply chain officers (CSCOs) are expressing concerns regarding their supply chains’ capacity to manage forthcoming challenges within the next two years [4]. AI is revolutionising the manufacturing sector by introducing predictive maintenance to foresee and mitigate machinery failures, employing computer vision for impeccable quality control, and optimising supply chains for unprecedented efficiency. Additionally, AI-driven robotics and automation enhance production capabilities, allowing for the creation of more sophisticated and customised products. This integration of AI not only boosts operational efficiency but also significantly reduces costs and improves product quality across the manufacturing landscape. Yet, AI isn’t all-knowing, and it’s doubtful we’ll be kicked to the curb anytime soon. But take it from me, supply chain management using AI is about to make the version without it look like it’s still chiselling on stone tablets.
In the finance industry, AI is poised to enhance data analysis capabilities, automate processes, and deliver personalised financial services. AI algorithms will enable financial institutions to extract valuable insights from vast amounts of data, improving risk management, fraud detection, and customer segmentation. Automation of routine tasks will increase efficiency and reduce operational costs, while algorithmic trading will optimise investment strategies and market efficiency. AI chatbots and virtual assistants have already changed the customer experience, but it will get even better with the proliferation of large language models able to personalise support and resolve issues in real time. However, challenges such as regulatory compliance and the need to upskill employees remain important considerations for the successful integration of AI in finance. According to Gartner, only 10-30% of companies have reported significant financial gains from using AI [5]. Lack of expertise and employee acceptance rank among the top reasons for minimal financial returns on AI investments.
Agriculture and horticulture are key pillars of Aotearoa New Zealand’s export economy. However, the agricultural sector in Aotearoa New Zealand faces persistent challenges such as climate change, sluggish productivity growth, labour shortages, mounting regulations, and the imperative of environmental sustainability. AI adoption in agriculture is still in its infancy on a global scale and remains similarly nascent in Aotearoa New Zealand. Predictions suggest that the implementation of AI in agriculture could add up to US$486 billion to the global economy [6]. This includes utilising AI-powered sensors and drones for precision farming, employing AI algorithms for crop monitoring and management, implementing livestock monitoring systems with AI-powered sensors, optimising supply chain logistics using AI-driven predictive analytics, deploying smart irrigation systems based on AI technology, utilising AI for weed and pest control, and leveraging AI for crop breeding and genetics research. These applications of AI can help farmers in Aotearoa New Zealand make data-driven decisions, optimise resource use, and improve agricultural outcomes.
I am personally excited about the potential AI holds for education, a realm in which I proudly wear the hats of a lifelong learner and a teacher. Witnessing the transformation AI will bring to our educational landscapes–reshaping learning processes, altering expectations of teachers and students, revolutionising exam systems, and streamlining institutional operations–is nothing short of thrilling. Imagine the possibility of personalised, stress-free learning journeys where new courses are just a click away, thanks to AI’s guiding hand. We’re on the cusp of welcoming AI-based educators who could transcend human limitations in availability, objectivity, specialisation, and endurance. It’s not just students who stand to gain; teachers, too, can harness AI’s power to redefine educational experiences, as showcased by innovations like Khan Academy’s Khanmigo and the Duolingo app. The future of education, powered by AI, is bright and incredibly close!
AI is on the brink of reshaping life in myriad ways, revolutionising industries, refining operations, and elevating everyday convenience and customisation. Summarising its vast impact is challenging. Every sector is evolving positively, yet the issue of privacy looms large. In the foreseeable future, it’s likely that companies will develop proprietary AI systems to prevent data leaks and ensure confidentiality. The smarter the input data, the more tailored and intelligent the output, moulding AI into the tool we desire it to be. So, get ready and let AI chauffeur you straight to your destination–just don’t forget to enjoy it along the way!
[1] Ravin, “How is AI Impacting the Automotive Industry?,” ravin.ai. https://www.ravin.ai/blog/how-is-ai-impacting-the-automotive-industry (accessed Mar. 27, 2024).
[2] M. Geyer, “Virtually Incredible: Mercedes-Benz Prepares Its Digital Production System for Next-Gen Platform With NVIDIA Omniverse, MB.OS and Generative AI,” blogs.nvidia.com. https://blogs.nvidia.com/blog/mercedes-benz-ev-nvidia-omniverse-generative-ai/ (accessed Mar.28, 2024).
[3] Markets and Markets, “Automative Artificial Intelligence Market,” marketsandmarkets.com. https://www.marketsandmarkets.com/Market-Reports/automotive-artificial-intelligence-market-248804391.html (accessed Apr. 1,2024).
[4] Gartner, “Improve Supply Chain Effectiveness & Efficiency,” gartner.com. https://www.gartner.com/en/supply-chain/trends/supply-chain-effectiveness (accessed Mar. 28, 2024).
[5] Gartner, “AI in Finance: CFO Strategies for Successful AI Deployment,” gartner.com. https://www.gartner.com/en/finance/topics/finance-ai (accessed Mar. 29, 2024).
[6] S. Hollenstein, et al., “Artificial Intelligence for Agriculture in New Zealand,” AI Forum. Auckland, New Zealand, 2019. Accessed: Mar. 30, 2024. [Online]. Available: https://aiforum.org.nz/wp-content/uploads/2019/10/Artifical-Intelligence-For-Agriculture-in-New-Zealand.pdf
Roshan Birjais is a third-year PhD researcher at the University of Auckland, delving into the captivating world of Deep Learning and AI. With over two years of experience as an AI specialist in the IT industry and three years of sharing knowledge in the classroom, Roshan embodies a dynamic blend of academia and industry. Beyond her academic pursuits, Roshan loves sports; cycling is her latest fascination while continuing her research in AI.