Artificial intelligence has certainly become the buzzing technological frontier over which organizations, regardless of their mode of business, are vying for control. With a significant numbers of tech giants already delving into this ecosystem, AI is expected to only grow better with time. Considering its development, acceptance and varied applications, it can be said that AI will continue to be crucial for businesses trying to keep pace with fast technological advancements. Here’re seven AI trends that you should watch out for.
Despite some people being rightfully concerned that AI may increase unemployment, the technology nevertheless has the ability to help employees, particularly those involved in knowledge work. For instance, tools like Chorus, Gong etc have the ability to record calls made to customer service and sales representatives. With the help of machine learning algorithms, AI can train customer-facing service workers to communicate more effectively, thus supporting white-collar jobs.
Though RPA or robotics process automation is still in its infancy, it can begin to impact business process management. RPA develops intelligent robots that can access the software being already used by a business, and can develop automation for mundane tasks, such as data entry. The key benefit of these systems is they’re quite easy to build, set up and train. RPA can eliminate human errors and let IT teams concentrate on more crucial implementations, rather than wasting energy and time improving and rectifying minor, mundane and repetitive tasks.
When hearing the word ‘chatbot,’ most of us generally remember speaking with bots while making some financial enquiries or doing airline reservations. NLP or natural language processing is the backbone of chatbot technology. It’s the same technology that is used in voice recognition systems by high-end virtual assistants like Apple’s Siri, Microsoft’s Cortana etc. Today, chatbots are acting as automated customer service agents. When these chatbots become a part of our regular life, they can do more than only responding to our commands. They can provide us with timely information like “Switch off the lights now,” “It’s time for your medicine,” and more.
Companies like Kiva Systems, which is Amazon Robotics now, use a combination of advanced robotics and artificial intelligence to provide big box retailers with unimaginable logistics solutions. We can expect to see warehouses of the future that will look much different from what they are today. Instead of being designed to accommodate human packers, they’ll be developed for highly efficient robots that can work round the clock and don’t need lighting to see what they’re doing. This technology is expected to play an increasingly crucial role in a business’s quest for less expensive, faster deliveries.
Artificial intelligence can be the battlefront for a majority of services and software industry, including mobile and web applications. AI in the form of deep learning, machine learning, computer vision etc can enable developers to create intelligent apps. Some of the instances that justify and exhibit AI integration of apps include smart search, enabling recommendations, abstraction of big data, healthcare and fitness management, fraud detection etc. We can expect to see more advanced use cases that can result in productive intelligent apps, without developers coding for them explicitly.
Statistical modeling is already being used by companies to aid machines make informed decisions like what content to show the users next. To attain optimum efficiency of the model, a huge amount of data and significant computing power is required. With the emergence and prominence of peer-to-peer networks, even small businesses can have the ability to run advanced artificial intelligence programs by harnessing the collective power offered by networked personal computers.
Driven by AI, intelligent things can slowly become the norm in our daily lives. By harnessing the power of IoT (Internet of Things) and AI, these things can use ML (machine learning) and AI to interact with the people or surroundings in an intelligent manner. They may even enhance the intelligence level of existing things. For instance, using fitness trackers to analyze the user routine (using ML) to recommend alterations for improving or preventing certain risks, or turning camera into smart camera are ways these intelligent devices could slowly become an integral part of our daily lives.
While numerous business use cases have been developed over the years, a majority of AI developments are still in their infancy, and full-scale adoption of this technology isn’t common across all industries. However, today businesses aren’t only keen on advancing their existing processes using AI, but also seem keen to explore the possibility of new revenue channels with AI. Though there’s still a lot of room for innovation in the AI landscape, it can be said that businesses who can readily adopt the latest advances in the field will be better placed to attain an early advantage over their competitors.