Increasingly, we see AI being used in everyday life. For instance, retailers are using AI to anticipate the needs of their customers before they even begin looking. AI has allowed these retailers to keep inventory levels high without sacrificing capital. Furthermore, AI has been used to help sellers connect with manufacturers and whole sellers. AI solutions have also been used in banking, helping banks improve customer service, prevent fraud, and pitch products and services to their customers. These solutions also enable banks to meet changing regulatory norms.
While AI is already affecting a wide range of human activities, there are still concerns about its use. While AI may become a threat to jobs and the economy, it is not yet at a stage to cause mass layoffs. As the number of companies using AI grows, it will be used in a variety of niche fields, and there are no definitive predictions as to when this will happen. As automation continues to improve, more jobs will be created and decreased costs.
There are several efforts underway to monitor AI development. One of these efforts is the AI Index, headed by the nonprofit lab SRI International. The index tracks AI trends such as the types of AI interest, the number of engineers who use it, and dollars flowing into companies using AI. The AI Index aims to release a comprehensive report on AI development by 2017.