AI And Robotics: Hype Or Reality?

Artificial intelligence (AI) is coming to a point where action, not talk, is needed. While there are fears and inflated expectations of what AI can do, much of it is hype and a far cry from what it can actually achieve today

No doubt, artificial intelligence (AI) is the buzzword of the 21st century. Sometimes, buzzwords are important because they make a huge impact on emerging technologies and pave the way to explore new things. Many companies are rushing to be the first ones to realise the potential of AI technology. AI is already almost everywhere, and we may not even realise it. For example, Amazon’s shopping, Netflix’s recommendations, Alexa and Siri all use AI. Many insurance companies and banks are also using AI. In case these companies are not using AI now, they soon will.

These days AI is a subject that everyone seems to have an opinion on. However, this also creates confusion and misinformation surrounding this technology. There is a lot of hype in the media and some of it can be scary. So, what is hype and what is real? Let us check out some facts in this article, including technology, business and application. But before going to these facts, let us take a look at the hype cycle that provides a graphical and conceptual presentation of the maturity of emerging technologies.

The hype cycle

Hype cycle highlights the emerging technologies expected to have a significant impact on industry, business, society and individual over the next few years. Hype cycle chart from Gartner shows that there are many AI-based emerging technologies in the market. Some of the listed emerging technologies will be dropped after due course of time if they do not contribute significantly as per expectations and market demand. The chart can also be helpful for innovators and developers to work on these technologies.

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