Farewell to crypto, and hello to the world of generative AI. Venture capital investors have quickly moved on from their brief involvement with the now-defunct FTX crypto exchange, and are now enamored with the potential of this new technology. The impact of FTX’s collapse was felt in Africa, so it is likely that the union between generative AI and the continent will be a strong one. Zimbabwe is still behind when it comes to AI technology, but businesses in the country should be aware of how artificial intelligence will shape the world in 2023. This year is predicted to be a major breakthrough for AI, and analysts are confident that this time their predictions will come true.
There are some good reasons to believe this assertion may be true. The launch in November of OpenAI’s ChatGPT language-generation model, with its astonishing ability to generate paragraphs of convincing text at remarkable speed, has opened users’ eyes to the power of generative AI. Large language models, such as ChatGPT, have been trained on vast amounts of data ingested from the internet and are almost instantaneously able to recognise and replicate patterns of text, images, computer code, audio, and video. No one is quite sure yet what exactly their killer application will be. But more than 160 start-ups have already been launched to explore the answer.
The promise of generative AI is that it can boost the productivity of workers in creative industries, if not replace them altogether. Just as machines augmented muscle in the industrial revolution, so AI can augment brainpower in the cognitive revolution. This may be particularly good news for jaded copywriters, computer coders, TV scriptwriters, and desperate school children late with their homework. But it may also have a big impact on areas as diverse as the automation of customer services, marketing material, scientific research, and digital assistants. One intriguing open question is whether it will reinforce the dominance of existing search engines, such as Google’s, or usurp them. Generative AI is a good example of a broader trend that is taking powerful technologies out of the hands of experts and putting them in those of everyday users.
In general, however artificial intelligence (AI) is transforming how businesses operate and interact with customers. Artificial Intelligence is becoming integrated into business processes, from chatbots that handle customer service inquiries implemented by some Zimbabwean banks to intelligent personal assistants that help schedule meetings. By leveraging the power of AI, businesses can improve efficiency, increase productivity, and deliver a better customer experience.
Many people are excited for artificial intelligence technology to grow even further, primarily because of its potential even right here in Zimbabwe. For example, artificial intelligence programs tend to be much better at detail-oriented jobs than humans, as there is less of a chance that these programs would miss details due to fatigue or human error. This can significantly reduce the time needed for data-heavy tasks, and artificial intelligence programs are already better at analyzing big chunks of data than humans.
In addition, AI can deliver more consistent results with fewer errors than human counterparts. Machines like AI don’t break or make mathematical errors as often as humans, plain and simple.
Some businesses are also looking into AI to replace specific jobs because AI-powered chatbots, virtual agents and customer service agents are always available 24/7, allowing them to respond to customer complaints quickly and easily, around the clock.
In a broad sense, AI will allow businesses to make more money, save more and deliver better customer results. It has to be noted that many businesses in the country can implement as they keep their eyes on the ground for the next big application to be introduced since startups this year will work at producing something big this year. The same is true for hospitals, governments and other large organizations that have a lot to do and rely on taking advantage of big data sets.
In the healthcare industry, artificial intelligence is used to assist with healthcare diagnostics, such as identifying diseases or ailments in patients. That’s because AI can often rival humans at locating and identifying anomalies or issues in diagnostic scans. In the healthcare industry, AI is also helpfully utilized to track and maintain patient records, handle health insurance claims and even classify hospital patients quickly and efficiently.
Autonomous vehicles like those from Tesla also heavily use modern artificial intelligence programs. With self-driving cars, AI may eventually learn from other drivers, fine-tune its own safety practices and drive more safely than even the most experienced human, all while maintaining faster response times due to its computerized nature.
In addition, the manufacturing and industrial sectors often use limited machine learning or AI software to operate machines requiring incredible precision and repetition.
The financial industry can use artificial intelligence to analyze stocks, market trends and other economic activity, thus allowing brokers and fund managers to make better decisions on behalf of their clients. This is similar to algorithmic trading and has been increasingly common in recent years. AI is good at this because it can take a lot of information, analyze it quickly and come to accurate conclusions based on past data sets. AI uses expert systems to improve pricing and similar actions over time.
You can use artificial intelligence programs to make gaming bots or nonplayer characters, also known as NPCs. AI intelligence is getting better in this arena all the time modern bots can simulate some of the motions or behaviors of human players very realistically by simulating the human mind.
The covid 19 pandemic also unearthed the importance of long-distance communication and Ai can also help make people feel even closer through virtual reality.
Naturally, artificial intelligence programs are already being used for general user assistance purposes, such as Amazon Alexa. Siri, Cortana, and other basic AI programs will likely become even more sophisticated and intelligent as time goes on. Virtual assistants are already among the most commonly used types of AI computer systems and maybe eventually replace personal assistants.
You can use artificial intelligence for general data analysis across various industries. Many large organizations already leverage machine learning or AI platforms and programs to understand their data sets. Google famously uses artificial intelligence to understand its billions of users’ queries and search patterns.
However artificial intelligence is universally expensive. This is why only some organizations, like the U.S. government, Google and other big enterprises, can fully take advantage of its technology and benefits. In addition, AI usually requires deep technical expertise to leverage it effectively. This requires having the staff on hand to use, edit and repair AI software or technology from time to time, which only adds to its operating expenses. Furthermore, since AI is still relatively unproven and still being developed, only a limited number of workers have the qualifications to build AI tools or monitor AI programs. Since artificial intelligence hasn’t reached its full potential, it can’t maintain or repair itself, meaning it is liable to have issues or “break down” in specific contexts.
Given all these flaws, it’s no surprise why artificial intelligence hasn’t yet taken over many industries and sectors, despite its purported importance and power. The flaws will also make it extremely hard for those in the country and the continent at large to feel the effects of artificial intelligence.
In a nutshell, Artificial intelligence isn’t a computerized Armageddon out to destroy the world. AI is also not a one-size-fits-all solution for the world’s problems. Rather, artificial intelligence is a valuable software tool that businesses and individuals can leverage for their goals. In the future, artificial intelligence may evolve in a somewhat unpredictable direction, offering even more benefits to organizations that take advantage of it.