AI Winter

In class, we understood the cyclicity of the boom in the field of Artificial

Intelligence, and the down period is known as the AI winters. Looking at the
world around us, we can safely say that we are in the mid of AI summer, but
nothing remains constant.
AI winters were entirely due to the interest and perception of the people and
industries to work in this field and what they expected out of this field. The
problem with perception and expectation is that external factors can change
and influence them.
I found an interesting article emphasizing AI's future and addressing the same
issue: https://builtin.com/artificial-intelligence/ai-winter
So with so many new AI-based products coming our way and increasing
curiosities among researchers and industry experts, What do you think about
the future? Will we face another AI Winter? Is winter coming?

After the last three sessions, I have witnessed some remarkable impact of
ML/AI in the area of finance. I came across a few articles that highlighted a
few such innovations:

Predictive maintenance: Fintech companies are using AI and ML algorithms

to analyze sensor data from equipment and predict when maintenance is
needed. This allows them to schedule maintenance proactively, reducing
downtime and costs. For example, GE Digital has developed a Predix-based
platform for industrial equipment that uses AI and ML to predict when
maintenance is needed, enabling companies to optimize their operations and
improve their bottom line.

In addition, the use of ML and AI in predictive maintenance improves the

safety and reliability of equipment and reduces the environmental impact of
maintenance activities. Overall, I believe that the use of ML and AI in predictive
maintenance has the potential to bring significant benefits to Fintech
companies and the wider economy. What are your opinions?

• https://www.forbes.com/sites/forbestechcouncil/2019/02/22/how-ai-
and-ml-are-disrupting-fintech/?sh=7d894b1f7b8a
• https://www.ge.com/digital/predix/platform

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