The presentation provides idea of AI and how it affects different industries also provide latest trends

1. Artificial intelligence in Research and development
Artificial intelligence is one of rapidly growing area in field of computer science, technology and it is the
driving force towards new development across various industry domains. It transforms our everyday life
through the advancement of health care, automating repeated tasks, helps in retail management,
predicting natural hazards and climatic changes, advancement in cybersecurity, AI mediated media and
entertainment, Aerospace and flight operation controlled by AI, AI chatbots, Robotic process, supply
chain, crop harvesting and identifying pests and insects using drones.
Artificial Intelligence (AI) is defined as the broad branch of computer science, aiming to create systems
that can function intelligently and independently just like humans. AI is an imitation of human
intelligence processes by machines. The term AI was first coined by cognitive scientist Marvin Minsky in
the year 1956. During the last decode or so with growing technology the growth of AI has been so rapid
such that there is an emergence of automated vehicles, advanced robots which completes our everyday
tasks at ease.
In 2020, the global AI software market is expected to grow approximately 54 percent year-on year,
reaching a forecast size of 22.6 billion U.S dollars. Last number of software startups starts providing
artificial intelligence service to many small companies to compete with large giant companies which has
their own AI system.
What is the positive effect of AI in Research?
AI has got several positive effects in the field of research and development:
• Faster Research: AI automates research at a faster speed which helps reducing time for
repeated tasks in research for example multiple number of times the same experiment is
repeated to find a new medicine and which requires human labour and time.
• Reduced number of errors: Humans are talented and clever but they are not error free which
results causing mistakes during research, small minute errors during an experiment may have
severe impact at the end results. This simply means AI provides you consistent results, if the
tasks and repeated multiple times.
• AI doesn’t get tired: Human need time to sleep rest and have food but when an activity is
automated using AI we will be able to manage time and spend time more effectively in creative
activities that can’t be automated.
• AI powered virtual agents are readily available and used in automating many activities in
customer service domain
What are the disadvantages of AI?
• AI is expensive now compared to the labour expense and it takes huge initial investment to
automate activities, so only giant companies are presently investing on AI based research and
development.
• The lack of technical expertise is another important factor that stops AI from being used by
many companies, but sooner or later this situation will change when a greater number of people
have the know how to use AI.
• Today also the limited availability of qualified workforce to build AI is discouraging many
companies to use AI and automate activities which can limit the use of Human labour.

2. Application of AI?
Artificial intelligence has been used widely across industries & markets:
• AI in Health care: Artificial intelligence has a great role to play in the medical field from
diagnosing a disease to managing patients health portal properly. Nano robotic surgery has
been widely used by doctors to increase precision and accuracy.
• AI in Business: AI started automating repeated tasks in business and provide more time to
managers to take informed decision, customer relation management tools like chat bots helps
understand the pattern of customer shopping and improving sales.
• AI in education: AI can automate grading and it provides educators more time to understand
students and adopt to their needs.
• AI in finance: Personal finance applications like Turbo tax & intuit mint uses AI to collect the
personal income and expenditure data of customers and provides financial advices.
Similarly, AI has got wide range of application in the field of law, cybersecurity, transportation, banking,
manufacturing, agriculture and so on.
Ethical use of AI
Designing law to regulate AI won’t be easy as there is rapid advancement occurring in this field
simultaneously and periodically changing the laws for AI will not be an easy procedure. For example
privacy regulation laws do not cover the challenge possessed by virtual voice assistants like Amazon’s
alexa , Apples siri that do gather information except the companies that operates them