Artificial Intelligence seen as Third Great Revolution bringing services to the masses

Artificial intelligence (AI) is being explained as the third great revolution in the field of business, following the Industrial Revolution and the Information Revolution. And if few industry observers are correct, it’ll have a transformative impacts on consumers, business and government markets around the globe.

In accordance to the report “Bot.Me: A revolutionary partnership: How AI is pushing man and machine closer together” from PwC, “AI has the possibility to become the great equalizer. Access to services that were conventionally reserved for a privileged few can be extended to the masses.”

The effects of that on business can’t be understated, as artificial intelligence has the possibility to open up major new markets or expand on existing markets. That means agencies that embrace artificial intelligence will have distinct competitive advantage, the study points out.

“As humans, there is a lot we are not good at,” claims AI developer Kaza Razat, quoted in the PwC study. “When we are making machines that are better at certain things than we are, it is still an extension of us. From an evolution standpoint, there are places where we have reached the end of our capacity.”

Still, artificial intelligence (AI) is merely as good as the data it uses the research stresses. That places greater emphasis on problems related to data quality and data governance.

Where artificial intelligence is hoped to have particularly dramatic impact is in areas around cybersecurity, privacy, cancer research and the treatment of other diseases, the study claims.

“With the huge amount of DNA data being recorded today, AI could revolutionize personalized healthcare by observing that data; wearables and ingestibles could monitor and correct human behavior to maximize life expectancy and increase wellbeing. We are already seen AI victoriously recognize autism in babies with 81% accuracy, and skin cancer with 91% accuracy.”

The study polled almost 2,500 consumers and business leaders on where they considered AI will have the most immediate impact. Their responses:

• 66% said treating cancer and other diseases


• 68% said cybersecurity and privacy


• 61% said personal financial security and fraud protection


• 62% said clean energy


• 58% said global education


• 56% said economic growth


• 56% said global health and well-being


• 50% said climate change


• 38% said income inequality


• 31% said gender inequality

More than 40% of consumers “believe AI will expand access to medical, financial, legal and transportation services to those with lower incomes,” the study claims.