The Ultimate Survival Guide in AI and Machine Learning in the Fourth Industrial Revolution, Part V

In this five-part series on industrial AI, we will arm you with the knowledge you need to understand the what AI, machine learning, data science and edge computing are, and how they are already impacting industry.

See part four, where we covered the practical, real-world applications of AI and machine learning in industry.

 

PART V: DATA IS THE NEW COMMON LANGUAGE

The terms AI, machine learning, IoT and APM might bring to mind a vision of the future where robots are at the helm of running businesses. Fear not: not only is the future unlikely to unfold like a dystopian novel, most of today’s consumer companies are already using these technologies to transform data into meaningful intelligence and actionable insights. It is now time for industrial businesses to reap the benefits.

The change brought by the Fourth Industrial Revolution is inevitable, not optional. For some, a shift in mindset will be necessary. As difficult as it may be, the future of work looks very different from the past — but it does not have to be something to fear. The best version of our future will be shaped by putting people first and supplying them with the best tools and technology to succeed.

Industrial AI is the definition of humans and machines that are connected and working together in perfect harmony. What it is not is a future that devalues human ingenuity. People will not be replaced by machines — rather, technology will empower them to do their jobs even better than previously possible, and open the door to new roles that did not exist before.

A recent study by Gartner found that AI will create 2.3 million jobs by 2020, outpacing the number of jobs it will eliminate. Gartner’s head of research, Svetlana Sicular, further elaborates: “Unfortunately, most calamitous warnings of job losses confuse AI with automation — that overshadows the greatest AI benefit — AI augmentation — a combination of human and artificial intelligence, where both complement each other." Gartner estimates that by 2022, one in five workers engaged in nonroutine tasks — work that is more varied due to lower repeatability — will rely on AI to do their jobs. In these areas especially, AI is more likely to assist humans than replace them, as the combination of the two will perform more effectively than either would working alone.

With AI and machine learning taking on certain tasks, people are free to focus on more complicated challenges that require human intellect, creativity and experience. By leveraging data to help predict and prevent machine failures, technicians can focus on more strategic maintenance issues. In addition, the knowledge they have and the actions they take become more data points that are fed back into technology systems, improving the precision of the analytics and predictions for the next challenges that arise.

Reimagining What's Possible

Today’s technology empowers us to use data generated by people, systems and machines to solve complex issues, predict problems before they occur and make smarter decisions. Our era has boundless potential, where the power of technology and our ability to harness data allows us to shape our world in ways once unimaginable.

The opportunity is huge for those who think boldly and are not afraid to act quickly. Digital leaders have the opportunity  to use data to transform how they run both their assets and their enterprises. It is giving them a competitive advantage and quickly separating leaders from laggards.

We are living in an unprecedented time where people can and should use technology not only to solve problems of convenience, but more importantly to solve problems of consequence. We can create a world that always works — one where machines do not break, where industries make new things possible, where people are empowered to do their best work, and where our communities are safer and more prosperous.

Download A Survival Guide to AI and Machine Learning in the Fourth Industrial Revolution.


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