To drive long-term growth every business need creativity and innovation. In the new-age era of technology, AI is on the peak to amaze humankind in every sector.
Some consider this as the emergence of robots, heralding a dismal future of widespread joblessness and marginalization as the demand for humans is replaced by clever technology. But many tech experts including Sachin Dev Duggal, founder of Builder.ai claims, “Today’s artificial intelligence systems are akin to the dial-up internet of yesteryear, and we need a reality check regarding how advanced we really are. We’ve only just begun to imagine what’s possible with AI.”
“We’re only in the AOL world of AI still,” says Sachin Duggal “There is this perception we’re in the fiber optic world of AI. We’re far from it.”
Machines have been primarily utilized to increase efficiency from the beginning of the first industrial revolution. The Fourth Industrial Revolution has begun; during this time, intelligent machines will self-optimize their own performance and that of the systems in which they work. Many of the megatrends we've identified are being shaped by this change, which is in turn altering how the world functions.
In such a case Sachin Dev Duggal assert, “It’s not just LLMs and ChatGPT, though that seems to be the epicenter of how people think about it”.
Most recent developed AI such as ChatGPT work on the transformer-based architecture which is also known as LLM (Large Language Models) that predicts our next move or the next work for a sentence solely based on the relevancy of the keyword, our previous work tendency, and processing large amount of data along with algorithm.
Many people have been awed by AI tools' capacity to respond to user requests with humanlike replies, thanks to LLM that have been trained on enormous quantities of data. It has, however, been shown to be ineffectual at some activities, such as ChatGPT's inability to solve mathematical problems. In particular, the chatbot struggles to grasp humor and sarcasm in context.
These incapabilities make AI tools far from replacing all jobs. While these AI innovations will make certain jobs more efficient and likely replace some jobs, they will likely also create new jobs and sectors. The difficulty is in reinventing how you utilize technology to create new possibilities, value, and development, not in the technology itself.
Considering the increasing innovation in AI, Indian government has been asked to reexamine the Patent Act to add new amendments amid the growing acceptance of AI recently by the Delhi Court. Sachin Dev Duggal is really glad about this news, as we all know, he is a tech enthusiast, and the increasing popularity of technology motivates him a lot.
“What you’re seeing now is a momentum where something that people didn’t understand and was very esoteric has now become a little more personal,” added Sachin Duggal. He believes that technology, at the stage we are in currently, is surrounded by hype. “It’s got people freaked out for no reason.”
Focusing just on technology won't lead to success or development since it is merely a tool, we may use to create the goods and services that people demand. The actual expertise isn't in creating technological solutions; rather, it's in figuring out what people want and then how to provide it to them.