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After many years of AI development, the first breakthrough was achieved with ChatGPT and other AI systems. The field of generative artificial intelligence - where software creates text or images based on descriptions - became eerily human and entered the mainstream. Artificial intelligence is taking over the hype and profit opportunities previously associated with blockchain technology. Software was eating the world. Now AI has eaten software. But this is only the start. ChatGPT is not the only game in town.
The four key concepts of AI are: (1) Machine learning - the study of algorithms and statistical models that computer systems use to perform specific tasks without explicit instruction, (2) Neural networks - a subset of machine learning that mimics the structure and function of the human brain and uses layers of interconnected nodes to perform complex computations, (3) Data - the raw information that is processed and analyzed by AI algorithms to make predictions or decisions, and(4) Decision-making - the process by which AI systems use data, algorithms, and rules to make predictions, take actions, or solve problems.
It is too early to tell how much of the early hype is justified. Current developments are still in the experimental stage. No one seems to be more than two to six months ahead of anyone else.
Our knowledge economy is coming to an end. For the past sixty or so years, our economy has been dependent on human intelligence to create and sustain economic value. This phase of history is (for better or for worse) coming to an end. Most digital-only companies-especially those in creative verticals-will face massive disruption in the coming years unless they explicitly embrace artificial intelligence.
Relvant technology terms (buzz words), except Artificial Intelligence (AI) and Machine Learning (ML), are Deep Learning (DL), Neural Network (NN), Convolutional Neural Network (CNN), Recurrent Neural Network (RNN), Reinforcement Learning (RL), Natural Language Processing (NLP), Supervised Learning, Unsupervised Learning, Transfer Learning, Gradient Descent, Overfitting, Bias and Variance, Hyperparameters, Model selection, Model evaluation, TensorFlow, Keras, PyTorch, quantum computing. The exact importance of these terms vary based on the specific use case or application of AI.
There are three primary levels of artificial intelligence: Narrow AI for single particular tasks, broad AI for a bunch of related tasks, and general AI for all kinds of tasks. The type of AI system that can perform any intellectual task that a human can perform is referred to as Artificial General Intelligence. Such AGI is AI that has a general understanding of the world and can adapt to new situations and environments like humans. If AGI reaches a level of intelligence that surpasses human intelligence, this would fulfil the requirement of a so-called singularity.
To survive in an AI determined world, the first task is to prevent AI from compromising or rendering obsolete one's own business or profession. This is a danger when the core value is the use of human intelligence, which can be replaced by equivalent or superior artificial intelligence. The second aspect, which is clearly distinct from the first, is the use of AI to add value to the business or profession. This can involve investments, operational changes, and the freeing up of manpower.
The third point concerns new business models and occupations through the use of AI technologies that are now available, or their own development. Either the AI gold is mined, or the miner's shovels are produced, or both.To break into the artificial intelligence space, you need to build an AI startup or re-focus an existing company on this new business. At first glance, the barriers to entry are prohibitively high. Most companies aren't going to be able to compete successfully with the developments in artificial intelligence. They would need hundreds of millions of dollars, highly skilled engineers, and significant computing infrastructure.
It is therefore crucial to find a business area in which one's company can hold its own in the market. A small niche in the overall market, with maximum absolute size and best profitability. But without astronomical capital expenditures and without placing unrealistic demands on the company's own workforce. Although PUGNATORIUS S.A. is not a specialist in the technological aspects of artificial intelligence, it does offer support and assistance in structural and strategic aspects, including cross-border offshoring. It is available as an external counsel or as a member of an advisory board. Further details are available on request.
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