ARTIFICIAL INTELLIGENCE IMPACT & ITS APPLICATIONS: AN OVERVIEW

Abstract

The efficiency of the current economy may be significantly increased by artificial intelligence.
However, by functioning as a novel all-purpose “method of invention,” it may have an even greater influence
and change the structure of R&D and the innovation process itself. We discern between automation-focused
uses, like robots, and the possibility that current advancements in "deep learning" may function as a versatile
approach to innovation. We discover compelling proof of a "shift" in the significance of application-oriented
learning research since 2009. Simultaneously, a period of competition is anticipated to be sparked by the
possible financial benefits of perfecting this research approach, which will encourage individual businesses to
get and manage crucial big datasets and application-specific algorithms. It is the engineering and science of
creating intelligent devices, particularly computer programs. While the aim of utilizing computers to
comprehend human intellect is comparable, artificial intelligence (AI) is not limited to techniques that may be
seen through biological means.