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Software is Crushing Cost of Living with AI

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The age of automation is upon us and machines are going to rule the world! Or… are they? Perhaps not, but Artificial Intelligence (AI) continues to surprise us in ever more complex endeavors. Not convinced? Check out how an AI learns a Nobel Prize experiment in just an hour:

 

 

Or how about Google’s DeepMind algorithm beating a Go master, you know, the game that includes more combinations of moves than there are atoms in the universe!

 

 

Experts believe this is going to change everything; it just might, and we at Wiredelta® are at least striving to play our part in automating web and mobile development with smart algorithms. But first, let’s look at how AI is revolutionizing the world we live in.

 

What is Artificial Intelligence?

According to Wikipedia, an “intelligent” machine is a flexible rational agent that perceives its environment and takes actions that maximize its chance of success at some goal. Putting it more simply, an AI resembles the human mind in activities like learning and problem-solving.

 

Surprisingly, the idea of an artificial object being able to think like a man dates back to antiquity! Even the ancient Greeks aspired to something that could bypass their ordinary means.

 

The Western world has been obsessed with AI ever since. In the 1990’s, AI began to be used for logistics, data mining, medical diagnosis and other areas. Nowadays, the improvements in deep learning (advanced statistical techniques), the access to large amounts of data, and faster computers have made it possible to make huge steps forward in machine learning.

 

You may still be thinking of AI as something fictional that belongs mainly to movies; however artificial intelligence is not quite about robots ruling the world! All the progress made is already subtly introducing AI everywhere, radically changing our lives.

 

AI is taking on every aspect of our life

Although it may seem a thing of the future, AI is already present in our everyday life. Let’s take IBM’s AI called Watson as an example. The company has recently bought Merge Healthcare, which specializes in healthcare technology, and now IBM is using their database of pictures to make Watson learn about the human body.

 

As a result, in 2015 IBM launched Watson Health. This may lead to significant advances in illness diagnosis; Watson will be more accurate than even the best professionals in healthcare! Watson’s services have also been acquired by many businesses, which are willing to automate their operations.

 

 

AI is also present in our electronic devices. Microsoft’s Kinect, which provides a 3D body–motion interface for the Xbox 360 and the Xbox One, uses algorithms that emerged from lengthy AI researches. These algorithms are also used to power the intelligent personal assistants like Siri, Google Now, and Cortana in our smartphones.

 

Moreover, a company called Yseop uses artificial intelligence to turn unstructured data into intelligent comments and recommendations in natural language. Yseop can write financial reports, executive summaries and more analyzing thousands of pages per second! Furthermore, as if it wasn’t impressive enough, Yseop’s AI can do that in different languages.

 

Besides Yseop, heavyweights like Google’s Natural Language Processing and Facebook’s fastText are open to third-party developers to use. It’s going to be interesting to see what incredible innovations will come out from third-party developers building on top of these API’s.

 

Lastly, you can find AI in services like web search or automatic translation between languages; these represent a high level of machine intelligence controlled by people. In an interview with the Financial Times, Google’s Larry Page states that “It’s learning from you and you’re learning from it”, adding that “In some sense, the internet is already that: it’s a combination of people and machine intelligence to make our lives better.”

 

So, what are some insights for the future? 

The possibilities are endless (heck, even turning photos into videos!); and we’re going to see more and more innovations like these in every field. In web development, AI is starting to make an impact. In the near future, a website or an app could be automatically built just by telling your computer what you want.

 

That would mean that a website could be able to build other websites by itself, without the user having any technical knowledge. In this way, you could start a business in a matter of minutes! This is what we at Wiredelta call “software building software”, and we are striving to bring this idea to life. The question many ask when humanity approaches full automation, even within software development, is what happens to income. There are a wealth of articles, like this one, about income. Here, however, we want to flip the coin and look at the costs instead.

 

Costs of living are going to plummet

Ok, AI is taking over our lives, but what is the economic impact of such a huge shift? Well, according to various sources, including the World Economic Forum and Larry Page, the acceleration of artificial intelligence will kill off millions of jobs in the near future!

 

While this cannot be ruled out, it’s also important to notice that such a huge shift will make production more efficient, and as a result prices will decrease by significant amounts. Economists compare the development in AI to the time when the industrial revolution hit. Back then, machines took manual labor jobs and many were nervous that farmers would become unemployed and starve to death. That didn’t happen.

 

In this great post, Peter Diamandis explains how costs of living are supposedly expected to plummet in the next twenty years. This will happen thanks to the demonetization of the expenditure areas that take most of our incomes. According to him, “demonetization” means the ability of technology to take a product or service that was previously expensive and make it substantially cheaper or potentially free (in the extreme boundary condition). In other words, it basically means removing money from the equation through automation.

 

Demonetization has already started

A good example of how technology has demonetized a business is photography. In the golden Kodak years photography was really expensive; you had to buy a camera, new films, maintain the camera etc. Nowadays, prices in the photography sector are ridiculously low compared to what they used to be. Even better, your phone’s camera is completely free: no films, no lens to buy, no photographic rolls. It’s been completely demonetized! Thanks to this technological revolution, now virtually anyone can take pictures.  

 

In Diamandis’ book “Abundance”, a chart shows how $900,000 worth of products between 1969 and 1989 are available in your smartphone that you had to otherwise purchase separately. Quite a lot of money!

 

Actually, if you think about it, it makes sense; twenty years ago, people owned a camera, a video camera, a CD player, a stereo, a video game console, a mobile phone, a watch, an alarm clock, a set of encyclopaedias, a world atlas and a whole bunch of other assets that easily added up to more than $900,000. Today, all these objects that were an inextricable part of our life, are now free on our smartphones. For most of us, such products are so commonplace as they’re “free” parts of other products that we basically forgot that they once used to be very expensive.

 

 

Sure, software automates and decreases cost, but what about software then?

It’s one thing is to automate production of tangible objects like cars, electronics etc., but what about intangible ones like software? How will we automate the production of software to decrease the costs related to its assemblage? This will most likely be the next big leap in the artificial intelligence revolution. Here at Wiredelta, we can give you a glimpse of the future!

 

We are building a tool that makes building websites a piece of cake. Even without any prior technical knowledge, it is possible to create a site in WordPress, Magento, Prestashop, or any other large open source framework site. Thus, one can combine thousands of plugins and themes by simply typing what one needs for their site. It’s software building software at its finest!

 

This is the definitive solution for creating your personal website. Do you have something specific in mind for a web page? All you have to do is ask for it!    

 

Conclusion

To sum up, we can safely say that AI is an unstoppable revolution that will affect both our private and professional lives. This change will bring tremendous changes especially in the prices of most products, leading to a plunge of the costs of living.

 

Thankfully, Wiredelta is joining the automation party! The possibility of creating a website or app by only using a search engine is going to change the industry forever. The most important question of all, however, is are you ready for this new AI revolution?

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