"Artificial intelligence is kind of the second coming of software," said Myunghun Lee, senior system engineer of KT. "It's a form of software that makes decisions on its own, that's able to act even in situations not foreseen by the programmers. So,Artificial intelligence has a wider latitude of decision-making ability as opposed to traditional software."

If a dollar was donated to every high school student armed with Siri or Alexa to combat COVID-19 rather than to  a political figure, the world would be filled with peace without politicians leaving academics to receive the “honor” of ranking the world’s worst pandemic leaders. Whether you like it or not, artificial intelligence is commonplace in our daily lives or better yet, a household presence .

While the modern field of artificial intelligence emerged in 1956, it was not until later where AI was implemented into a system, introducing a new medium that can ultimately make or break the businesses of today.

Before examining how AI-powered programs to applications are impacting the business world, it's important to define the term. "Artificial intelligence" is a general term that refers to any type of software that performs human-like activities, such as learning and problem-solving.

Calling specific applications "artificial intelligence" is like calling a 2012 Kia Pride a "vehicle" – it's technically correct, but the word in itself lacks depth and detail. To understand what type of artificial intelligence is making its stage in businesses worldwide, we have to inquire more than what can be seen through a spectator’s eyes.

Lee then elaborated on the most common types of artificial intelligence, Machine Learning and Deep Learning, specifying that the latter would engage in nonlinear reasoning and have the potential of scaling information without any limitations. Those traits make AI highly valuable throughout many business fields, allowing it to pinpoint your favorite documentaries on YouTube to maneuvering a car without a driver physically controlling its whereabouts.

Machine learning is used often in systems that capture vast amounts of data. “For example, my company’s key function is to collect data from everyday consumers by focusing on a task or theme. The troves of data are then contextualized by machine learning algorithms and delivered to better understand consumer decisions and behaviors.” Artificial intelligence is also changing customer  retention management systems.

Software like Kakaotalk or Facebook requires human intervention to remain up to date when the platforms are used to stay in communication with close, loved ones. But when you apply artificial intelligence to these platforms, a normal messaging system can now transform into a self-updating, auto-correcting system that stays on top of your relationship management for you. 

So, how can AI be used in your business? It's impossible to simply guess how the technology will develop, but most experts see "commonsense" tasks becoming even easier for computers to complete. Then what becomes of the underlying fear that machines will force humans into obsolescence?

"The structure of the workforce is changing, but I don't think artificial intelligence is essentially replacing jobs," Lee said. “Some white-collared jobs such as business analysts and hedge fund managers are definitely at risk, but this transition will prove to create more wealth than misfortune."

However, the wealth will not be equally distributed. The future is here, and artificial intelligence is not going anywhere. As AI grows, the world will see new startups, countless business applications and support tools, as well as the disappearance of certain jobs and the creation of entirely new ones. Along with the Internet of Things(IOT), artificial intelligence(AI) has the potential to dramatically remake the economy, but its exact impact remains to be seen.

Yujun (Paul) Kim

Grade 9

The Learning Community International School