Artificial Intelligence, the Need of the Hour

Abstract

Fourth Industrial revolution is currently sweeping the high-income countries (HIC) with Artificial Intelli- gence (AI) based automation affecting virtually every aspect of life. The term AI was first coined by McCar- thy in 1956. It was not until 2000s that AI began to thrive. The evolution of AI into the current status occurred in the last decade owing to the enhanced computing power using Graphic Processing Units (GPU), development of high-powered computer languages, and the emergence of the Big Data.The latter is generated through wireless communication between ‘Smart’ sensors/devices and self-learning machines. The word ‘smart’ is applied to any device that has memory and is able to connect with data networks such as the internet and the processors. In the last few years, there has been exponential growth in AI applications. This can be judged by the projection that the AI field will add $ 15 Trillion to global economy, by the year 2030, up from $ 600 Million in 2016. This will occur mostly in the HIC. The adoption of AI by low- and middle-income countries (LMIC) lags far behind that of HICs. The LMICs would miss out in the economic benefits, further widening the global inequalities