The usage of artificial intelligence is increasing among industries, but it also has its challenges, especially securities.
FREMONT, CA: Artificial Intelligence has had a significant effect on people's lives and the economy. Artificial intelligence has the potential to boost the global economy by $15.7 trillion by 2030, according to a study. To put that in context, that is roughly the current combined economic production of China and India.
With numerous businesses forecasting that AI will increase business efficiency by up to 40 percent, the number of AI start-ups has increased 14 times since 2000. AI can be used to monitor asteroids and other astronomical bodies in space, predict diseases on Earth and find new and creative ways to combat terrorism. It can also be used to create industrial designs.
Top Common Challenges in AI
The uncertain nature of how deep learning models predict performance is one of the most significant factors that cause concern for AI. For a layman, understanding how a particular set of inputs can formulate a solution for various types of problems is challenging.
Most people around the world are unaware of Artificial Intelligence's use or presence, let alone how it is incorporated into everyday things like smartphones, smart TVs, banking, and even automobiles (at some level of automation).
There are many areas in the industry where Artificial Intelligence can be seen as a better alternative compared to conventional systems. The main issue is Artificial Intelligence skills. Apart from technology enthusiasts, college students, and scholars, only a small percentage of the population is aware of AI's ability.
Data Privacy and Security
The availability of data and resources to prepare deep and machine learning models is the essential factor to consider. Companies have data, but since millions of users worldwide create it, there is a risk that it will be misused.
For example, a medical service provider serves 1 million people in a community, and due to a cyber-attack, all the one million users' personal information ends up in the hands of someone on the dark web. Such information includes data on ailments, health issues, confidential records, and more.