What is AI? The role of AI in a data-driven economy

The true nature of AI and its place in the new era when data is the oil that helps operate all activities of the economy.

The economy runs on data

Data is information collected through various activities such as observation, measurement,... and stored in some memory. This memory can be the human brain, machines or more modern information systems.

Separate data is often not very important, but when gathered enough, they can be used to verify each other, analyze and serve as a premise for further actions.

Enough working data for the whole month to make payroll for employees

Data exists in every aspect of life. From the most primitive form, data is learned through the evolutionary process of animals, including humans. In today's economy, data is used to automate many different processes, simplifying work and increasing productivity.

What is AI? The role of AI in the new economy

AI and “highly intelligent” machines by their nature have a lot of data and that data is processed efficiently.

For example, when we search or watch something longer than average on social media platforms, those platforms will automatically suggest related content.

On the positive side, AI helps improve product efficiency and optimize user experience. Technology giants such as Facebook, Google, Amazon, Alibaba, Tencent,... possess top AI technologies, which helps them know user behavior and trends to make relevant suggestions. mandarin. Business management software also helps businesses better understand their operations through data entry.

However, the "learning" of AI requires more data, so AI may make inappropriate suggestions to users. Having a lot of data allows owners to trade with each other to increase the amount of data they own. Tech giants get a large share of their revenue from advertising, which is mined from user data.

From the above idea, it can be seen that technologies such as AI, Machine Learning,... have existed for many years. Technology giants, large organizations and corporations all own the most intelligent AI, or in other words, the most data. The AI ​​fever has received a lot of attention recently because there are gradually more tools and better AI algorithms reaching the masses, typically ChatGPT.

The intersection of AI and blockchain

AI is essentially a lot of data being processed efficiently, so where does it come from and can we verify that data is correct and safe? The above question is one of the most discussed topics about the effects of AI on life.

Blockchain is essentially a memory with verified data. Therefore, AI applications will be great if they can take advantage of the strengths of blockchain to help create reliable and safe results.

With the explosion of AI and the crypto market, the number of projects developing around this keyword has grown very quickly. Read more: When AI intersects with Blockchain | Real breakthrough or just theory? to get a comprehensive view of the development of AI-related projects in the crypto market.

We cannot deny the advantages that AI can bring:

·      To translate a text with thousands of words, thanks to ChatGPT, it only takes a few minutes.

·      A beautiful drawing, high quality music created in a short time.

·      A welding robot is more beautiful than an experienced welder.

·      And there are many other applications.

·      The world is evolving and in a data-driven economy, productivity will gradually improve to new heights.

However, like any other revolution, this transition cannot be completed in a day or two. Cities didn't light up as soon as the light bulb was invented, messages weren't sent as soon as the internet came along. For a new technology to be popularized with the masses, it takes time to develop and synchronize the infrastructure.

With the increasing amount of data being created, there will certainly be more and more new tools appearing to increase labor productivity. Similar to how the Internet develops, more and more people will use tools from AI/ML for the benefits it brings. Those who cannot take advantage of tools will have difficulty competing with those who know how to use tools. From there, in order to not be eliminated from the market, they will have to update new knowledge.

To prepare for the new era, instead of keeping a conservative attitude, we should approach knowledge and innovation with an open attitude. Be ready to take the opportunity to get ahead in the competitive market of the new economy, an economy powered by data.

summary

AI is the result when data is large enough and processed effectively. In a new era when data is the oil that helps operate all activities of the economy, AI will continue to grow strongly. Those who know how to take advantage of the above trend instead of negating it will have the opportunity to get ahead in the competitive market of a data-driven economy.