AGI vs Narrow/Niche AI: Which one has an unobtrusive impact?

What is the difference between AGI and Narrow/ Niche Al? AGI is a theoretical application of generalized Artificial Intelligence in any domain, solving any problem that requires Al. While Narrow/Niche Al is created to solve one given problem, for example, a chatbot

- Sanjeev Menon

Artificial intelligence (AI) will add approximately 15 trillion to the global economy by 2030 and around 97 million people will be employed in the AI industry by 2025. Given this explosive impact, one can say with certainty that the artificial intelligence (AI) revolution is upon us. It has crossed over from a scientific niche to a technology that is the driving force behind most gadgets and gizmos that surround us today. However, while AI-powered smartphones and devices are impressive, we’re just beginning to explore AI’s true power – the type we’ve seen in sci-fi movies.

Machine learning is not AI, but, is one of the subfields of AI

An AI system mimics or simulates human-like intelligence. This typically requires three human cognitive abilities of learning, problem-solving, and decision-making. There are different ways an AI system can be implemented. One approach will be using machine learning where large amounts of data are fed to a computer system and using statistical techniques to allow the systems to learn and improve over time. The system is able to identify patterns and relationships in the data and uses this to make predictions/ decisions. Another approach is through expert systems where human expert-like decision-making is mimicked with rules and machine learning. One of the most prominent approaches is with neural networks which are modeled like the structures and functions of the human brain.