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Stanford Scientist A.I. is the New Electricity

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Artificial intelligence already powers many of our interactions today. When you ask Siri for directions, peruse Netflix’s recommendations, or get a fraud alert from your bank, these interactions are led by computer systems using large amounts of data to predict your needs.

The market is only going to grow. By 2020, research firm IDC predicts, AI will help drive worldwide revenues to over $47 billion, up from $8 billion in 2016.

Still, computer scientist and Coursera co-founder Andrew Ng says, fears that AI will replace humans are misplaced: “Despite all the hype and excitement about AI, it’s still extremely limited today relative to what human intelligence is.”

Ng, who is chief scientist at Baidu Research and teaches at Stanford, spoke to the Stanford Graduate School of Business community as part of a series presented by the Stanford MSx Program.

Here he discusses why AI gets a bad reputation, what reputation it actually deserves, and how we need to rethink our education system to prepare.

The New Electricity

Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI will transform in the next several years.

Andrew Ng

Electricity changed how the world operated. It upended transportation, manufacturing, agriculture, health care. AI is poised to have a similar impact, he says. Information technology, web search, and advertising are already being powered by artificial intelligence. It decides whether we’re approved for a bank loan. It helps us order a pizza and estimate our wait time, and even tells the driver where to deliver it. Other areas ripe for AI impact: fintech, logistics, health care, security, and transportation.

“Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI will transform in the next several years,” Ng says.

Scarce Resources

What’s slowing down AI adoption? Two problems: scarcity of data and talent. For AI to be meaningful, companies need to feed their algorithms vast amounts of data, which isn’t always readily available. In fact, Ng says some large companies launch products for the payout of data, not revenue, and then later monetize it through a different product.

These companies are also engaging in a talent war for smart employees. “I would say the most scarce resource today is actually talent, because AI needs to be customized for your business context,” Ng says. “You can’t just download an open-source package and apply it to your problem.”

https://www.gsb.stanford.edu/insights/andrew-ng-why-ai-new-electricity

PDF here:  

https://ai100.stanford.edu/sites/default/files/ai_100_report_0831fnl.pdf

Ng, who is chief scientist at Baidu Research, spoke to the Graduate School of Business community as part of a series presented by the Stanford MSx Program, which offers experienced leaders a one-year, full-time learning experience. In 2011 Ng led the development of Stanford’s main MOOC (massive open online courses) platform and also taught an online machine learning class that was offered to over 100,000 students, leading to the founding of Coursera. Baidu is a Chinese language search engine.

He discussed why AI gets a bad reputation, what reputation it actually deserves and how we need to rethink our education system to prepare.

Electricity changed how the world operated. It upended transportation, manufacturing, agriculture and health care. AI is poised to have a similar impact, he said. Information technology, web search and advertising are already being powered by artificial intelligence. It decides whether we’re approved for a bank loan. It helps us order a pizza and estimates our wait time. It even tells the driver where to deliver it. Other areas ripe for AI impact: financial technology, logistics, health care, security and transportation.

“Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI will transform in the next several years,” Ng said.

http://news.stanford.edu/thedish/2017/03/14/andrew-ng-why-ai-is-the-new-electricity/

 

 

 

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Too much talk about AI eating data. That bothers me. I have a distrust of AI. As should everyone...

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That's right. Before "Terminator" the next dem president will use AI on you first. To monitor, rob and direct. Yes. Thought crime, non passive and intelligence above s broccoli detected, yes. Street neutralization of threats, working about as good as self driving cars are now - half the crowd + 1 perpetrator. Can't go shopping if owe a phony harassment ticket, because store money will be taken as soon as you touch the screen.

Oh yeah. AI will be so great people will rip the wires out of thier house......

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3 minutes ago, Curenado said:

Oh yeah. AI will be so great people will rip the wires out of thier house......

And most likely hang themselves with said wires. A world of total control lies ahead. I'm going to have to reject it.. Same as others will.. Too unnatural!

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9 hours ago, Ukshep said:

And most likely hang themselves with said wires. A world of total control lies ahead. I'm going to have to reject it.. Same as others will.. Too unnatural!

There are people who have ALWAYS thought "No...the human spirit will out." and indeed, we are getting closer to the test of that now. 

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