Everyone language generator) that acts as an analyst

Everyone knows that the era of Artificial intelligence has arrived. 
The question is no longer whether AI can help revolutionise the
world or not. The question now is what is
the big role AI has started playing and will
continue in future. Recent rapid advancements in AI has created ardent interest
all over the world. Basically what is AI?The
father of artificial intelligence John McCarthy has defined AI as ” the science
and engineering of making intelligent machines especially intelligent computer
programs”. AI  develops machines with
humanlike intelligence i.e. process information and producing output  in a manner similar to how humans  behave, comprehend  and solve problems.

Can we AI see

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AI makes it
possible for machines to learn from experience and adapt to new inputs. Let us
take an example of visiting a website more than once,  fed with user’s online data behavior ,a
network of AI algorithms  will work  in the background  processes , makes intelligent guess, and
displays advertisement that can retain the user’s attention. Thus AI, is the
technology that will allow businesses to be  informed about client’s needs  even before they want it. This is a great
achievement which can improve productivity by copious amount and merits the
need of its mention these days.

Importance of
AI cannot be ignored as we see it helping us in our day-to-day activities from
being voice activated assistants in tablets, smartphones and computer’s  (like Amazon’s Alexa) that follows user’s
voice command to complete assigned tasks to using highly sophisticated tech
tools like Google’s AlphaGo,IBM Watson  and Arria NLG(natural language generator) that
acts as an analyst and writer in one, crunching millions of data points per
second , processing and analyzing it so as to generate easy to read reports much
faster than human brain thereby allowing user’s to focus on high value tasks. These
are just the tips of iceberg we see showing how artificial intelligence helps
us ,business and society at large. According to various studies and researches new
AI technologies will fuel global economic growth as productivity and
consumption increases in the near future. The future looks bright with AI just
scratching the surface from developing efficient power transformers, smarter
developed supply chains, fully automatic transportation systems to solving  world problems of health and  food shortage. AI has unparelled potential and
is expected in the coming times to help improve and perform tasks more efficiently
and accurately ,to save society’s cost, money and time,  to enable huge production and labour
productivity, to deliver uninterrupted services to individuals in the country
and  to overall optimize the resources
available to the generation so as to help in the overall economic development
and transformation of economy to  better
serve social, economic needs.

Artificial Intelligence has the potential to boost India’s Economic Growth?

Intelligence has the potential to impel and enhance economic growth. The
combination of man and machine can be used to solve the economies difficult problems.
As global tech major Accenture already calls artificial intelligence as another
new and tremendously important factor of production both for now and future one
can simply infer that AI will help in labour and capital productivity as these
are major investment factors of production which can help in introducing, developing
and boosting new sources of growth. Hence AI helps in expanding role of people,
entrepreneurs, government,organizations crediting them to experiment and
innovate and devise various means to propel growth in business and economy as a
whole. It explains three ways
that can increase India’s economic growth through artificial intelligence can
be by organizing intelligent automation and augmenting and automating complex
mundane human  tasks that can be taken
over by AI ,empowering current workforces with new skills, knowledge to cope
and help in advancement of AI, and to build and  enhance AI innovation that can be used for
structural economic transformation which can hence result in development of
Indian economy.

Mark Purdy who is the
 Managing Director and Chief Economist of
 Accenture Research has emphasized on the
importance of AI and how “AI can have a pervasive impact on business profits
because it affects nearly every part of the organisation  from
production, to sales, to innovation.” The idea is by taking up routine work by
AI , the employees can focus their concentration on making  

It was the research conducted
by Accenture and Frontier economics which estimated economic impact of
Artificial intelligence on India  using  2035 as the target year  as it takes a gestation period to absorb new
technology impact, segregating the study into two outlines- one was the
baseline scenario that gave annual estimated economic growth rate  for future  under current assumptions and the other was AI
scenario which showed expected economic growth once AI effect has been added to
the economy.The results
were published in report “Rewire for Growth”.


Figure 1:Economic impact of AI on various economies

Source:Rewire for growth report,2017