Page 30 - Banking Finance November 2019

ARTICLE

TYPES OF AI

AND THEIR

IMPACT ON

BANKS

What is Artificial Intelligence? Type 1
AI is the theory and development of computer systems able 1. Weak AI or Narrow: It is focused on one narrow task,
to perform tasks normally requiring human intelligence, such the phenomenon that machines which are not too
as visual perception, speech recognition, decision making, intelligent to do their own work can be built in such a
and translation between languages. In computer science, way that they seem smart. An example will be a 'poker'
artificial intelligence sometimes called machine game where a machine beats human where in which
intelligence, is demonstrated by machines, in contrast to the all rules and moves are fed into the machines here each
natural intelligence displayed by the humans and other possible scenario need to be entered beforehand
animals. manually.
2. Strong AI: The machine that can actually think and
Types of Artificial Intelligence perform tasks on its host like a human being. There are
AI can be classified in any number of ways, there are two no proper examples for this but some industry leaders
types of main classifications. are very keen on getting close to build a strong AI which
has resulted in rapid progress.

About the author Type 2 (Based on Functionalities)
1. Reactive Machines: This is one of the basic forms of
N. Gopala Krishna Murthy AI. It does not have the past memory and cannot use
Chief Manger & Faculty past information to the information for the future
State Bank Institute of - actions. Example: IBM chess program that beat Garry
Innovation and Technology Kasparov in the 1990s.
(SBIIT), Hyderabad
2. Limited Memory: AI systems can be used past

30 | 2019 | NOVEMBER | BANKING FINANCE