How AI Will be Used in Different Industries

The process of augmenting existing scenarios

A lot of people think that AI are these terminator machines that are going to replace all jobs.  Including for example doctors.  Really where we are at now is the process of augmenting existing scenarios.  AI will be able to find things through patterns found off of big data that we haven’t found before.  But it is there to provide a tool for the existing workforce.  It is not there to replace the existing workforce and make the recommendations or do the diagnostics that a doctor would do.  So it will just be another tool for a doctor it will not be replacing the doctor.

Long-Term Benefits of AI outweigh Short-Term Risk

AI today provides assisted intelligence as well as augmented intelligence.  That is what it will do today and until it shifts into the general intelligence where the computers are essentially as smart as a human doing creative things.  We do not need to be worried.  In most tasks, AI is not necessarily replacing all of the creative elements a human would do today.  So they will replace those repetitive tasks.  One of the biggest industries will be in the self-driving cars and trucking industries.  That will probably be the nearest and greatest displacement of jobs in the relatively short term.  However, those jobs are just going to free up those individuals to create whole brand new industries.  So while it may hurt in the short term.  In the long term it is going to actually increase the regions economic factors by a hundredfold.

Find your specific problem

In order for AI to work at its core, you have to be solving a specific problem.  It is important to test the market to find out where the right fit is.  That is what essentially an entrepreneur needs to be doing.  That is learning what the exact problem is.  Entrepreneurs are essentially problem solvers.  I can easily see scenarios where it is basically garbage in and garbage out.  You don’t actually know what the real problem is when you are building these AI platforms that are not of use to anybody.  Because it is garbage in and garbage out.  So focusing on the core issue is the main thing.  So that through whatever methodology you want when it comes down to the “lean methodology” type of practice.  Find your specific problem and then start building the AI around it.  Without it I don’t think it is going to be that useful.

One of the biggest areas of AI is in agriculture.  But that is an industry that is inherently resistant to new technology out of fear that it will displace them.  I do see AI traversing all industries but in the aspect of machines and humans working together and how that is effective is still yet to be determined.

Tarik Sultan
Tarik Sultan

Tarik is a Co-Founder and Managing Partner of XLR8UH, the University of Hawaii’s (UH’s) nationally recognized proof-of-concept commercialization center focused on mentoring and investing in UH affiliated innovations. Additionally, he is a Founding Partner at Sultan Ventures, a boutique venture firm focusing on early-stage startups and the 2014 Hawaii Venture Capital Association’s (HVCA) Investor of the Year.

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