Artificial Intelligence has the ability to remold the environment of the world in 21st century. Enumerate potential applications of Artificial Intelligence in Banking & Finance, Public Health, Governance and Education. Can AI be a threat to humanity also? Opine.

Artificial intelligence is the intelligence of the machines. Using the intelligence machines perceive the environment and takes necessary action to attain the predetermined objectives. The intelligence of machines is driven by inbuilt programmes.
Applications
Artificial Intelligence together with Internet of things is the driver of fourth industrial revolution. The applications of artificial intelligence include

• Banking: The artificial intelligence can be used to provide a non human interface to deal with daily mundane works like cash deposition, printing of pass books, addressing queries, cash withdrawal etc. This will aid in relieving the humans of the daily mundane works aiding in increased productivity of the Banks. Investment and portfolio management: By studying the variations in market and handling big data, Artificial intelligence can aid in faster decision making.
• Public Health: The artificial intelligence can aid in efficient process of drug development and testing, diagnosis, Patient care.
• Governance: The artificial intelligence can be useful in eliminating the human intermediary and making the governance more objective. Reduced discretions can make governance more rational and transparent.
• Education: It can help to build virtual classrooms and take the education of high standards to every corner of the world breaking the barriers.

Can it be a threat to Humanity?

• Artificial intelligence is a double edged sword. With the increasing cyber weapons and cyber security threats the programmes can be manipulated. This may result in machines performing unwanted actions which may pose threat to the humanity.
• Artificial intelligence can be used by non state actors and terror groups to design the attacks which will result in devastating effects.
• Human decision are based not only facts and objectivity but are also driven by ethics and morals. Artificial intelligence will make the world materialistic and inhumane with lack of empathy, sympathy and compassion.

Artificial technology is like a knife. It’s for the humanity to decide a role for it for the welfare of the society.