How Artificial Intelligence is Transforming The World

Humanity is well known as Homo sapiens because our mental capacities are so important in everything we do every day to survive. Since the beginning, mankind has attempted in many ways to make easier the way work is performed in every discipline. For example, in the establishment of the agricultural era, humans develop tools to work the soil in preparation for cultivation process. One of the most important tools for the early farmer was the plow which it was initially pulled by a man or two; later farmers attached the plow to an animal, such as a horse or donkey making the job faster an easier. It was not until 1890 when John Froelich invented the first tractor in the USA. John Froelich with his crew started using the tractor for the annual harvest with a big successful outcome that increased the agrarian production using less manpower in the agricultural development. Decades later when farmers realized the benefit that tractor had created to the farming occupation, acceptance increase within the farmers’ community. On the other hand, farmers find out that there was no need for manual labor when a tractor and one operator can do the job. Base on this information we can grasp that technology brings benefits to our society at the same time a lot of people will be impacted due to less manual labor that’s required with in farmers community. In modern day, artificial intelligence is this “tractor”.

The foundation of artificial Intelligence started in 1600’s with the creation of devices to calculate mathematic operations, followed by programing artificial intelligence into chess games and later making computer capable of performing more complicated tasks like that computer use today by our organizations. For artificial intelligence to succeed, two things are essential: intelligence and an artifact like the computer, since computers have demonstrated that is capable in acquiring AI. So far, AI has produced many devices event at this early stage of development. Many companies in the financial sector have already started using AI to save time, decrease costs, and increase profit to the corporations. AI has had effective apps in finance well before the arrival of mobile banking apps, or search engines. Now, financial institutions are integrating chatbots to deliver immediate and understanding information to consumers and these services are make available 24/7 and are being used as a complementary service to the customer. Today, computer learning has come to play an important role in many stages of the financial environment, from approving loans, to managing assets, and calculating risks. For example, robo-advisor is a financial adviser that provides investment management with moderate human intervention. Robo-advisor also provides digital financial advice based on mathematical rules and algorithms; these calculations are then executed by the software therefore financial guidance does not require a human consultant. By having Robo-adviser, giving financial advice it is more affordable because you do not have to use financial consultant’s services that were extremely high. Furthermore, artificial intelligence perceives fraud before it happens as this technology can rapidly mimic the thought process of human analyst to review transactions. AI can alert banks by flagging and reporting transactions that could potentially be a fraud.

Currently at my work station, I am using a similar product call Purchase Card on Line System (PCOLS) to improve the management, accountability and fraud detection of Government Purchase Card (GPC) Program organizations. The system is comprised of five web-enabled automated tools: Enterprise Monitoring and Management of Accounts (EMMA); Authorization, Issuance and Maintenance (AIM); Data Mining (DM); Risk Assessment (RA); and PCOLS Reporting. PCOLS has made my job easier and faster because there is no need to pass the paper work from desk to desk anymore. When I start the workflow in PCOLS the system itself send automated emails to all personnel involved in the process. The process starts with the person requesting the credit card and ends at the bank issuing the GPC to the cardholder (CH). Even though, the system manages the workflow, human interface is still required in the approval process. If a person doesn’t exercise the action required by the system, the work flow will stop at that work station, like when paperwork gets stacked at specific desk. I believe that AI is like the process that happened with the tractor as before mentioned because a human is still part of the process as today. This “tractor” is a great asset for us but without human intervention, the job is not going to get done. Today, our civilization is concerned about what it is going to happen when the human factor is removed from the equation giving us several questions like: Does AI will be able to take decisions like humankind does in these days? Will AI learn and use ethical and moral rules?

I hope AI will be the solution to the world crisis, so we will have AI making better decisions that our leaders take when they try to solve local and international problems.