The market for Artificial Intelligence is continuously booming, and it would not be wrong to say that it has now become the most trending technology. We can now clearly witness the influence that it has on multiple aspects of our daily lives. However, this concept of AI is not new, the term was first conceptualized in 1955 as machines were taking over the human tasks. Although at that time it looked like an unlikely possibility, it has taken over many sectors and has become a tangible truth decades later. It has dominated other machines and has the ability to copy the cognitive process of human beings. It can infer, learn, predict, reason, and initiate actions, just like all of us. In fact, creative capabilities have enabled it to make decisions. It is the technology that can claim to change our future completely, but it would not be correct to consider AI as a single entity. It is a set of technologies that work in the combination of each other. Seeing such a diversified scope, no company wants to be left behind and is ready to invest in AI to maximize its revenues. According to a survey, more than 60% companies are using artificial intelligence in 2018.
So here are a few revolutionary AI technologies that will take hold of the market and rule the future. Have a read:
When it comes to security, passwords, patterns, passcodes everything gets ineffective after a certain time. Once you lose or forget them, you also lose the access to your bank accounts, email, mobile and other services. Biometrics includes your retinal pattern, fingerprints, voice and even facial structure. It deals with measurement, identification, analysis of physical aspects, and authentication of body segments or behaviors. By allowing interactions between humans and machines such as touch, speech, image and body language recognition, it can be leveraged to unlock devices or accounts. The day is not far where you will just stand in front of the computer, and it will scan your features, unlock the hardware, and give you the necessary documents.
Thanks to technological advancements, robots can now mimic the human activities which are very helpful in the corporate world. Specifically, when it gets too expensive to hire personnel, or there is a risk of inefficiency. These robotic systems are more capable than just simple tasks and automation. Apart from the business sector, consumer world is using them as robotic vacuums, home automation tools, smart speakers, etc. But one thing is for sure, they can never replace the human abilities and talent.
AI will not only be limited to predict future trends and patterns, but will soon be able to decide the viable course of action for the future. They will be used to take decisions and influence the outcome of any event. We know that there is no guarantee of success, but there might come a time when you will be at least 90% sure that things will turn out the way you want them to be.
Machines are already competent to introduce rules and logic to AI systems. Corporate Application like Adex has incorporated the decision management for the execution of automated decision-making process.
Virtual agents are computer agents or programs that are capable of interacting with humans. One of the most common examples of this technology is chatbots. They rely on language processing, reactive algorithms, and data troves to communicate with human audiences. They are already quite popular in retail and e-commerce for customer service and support. Gradually, they will be programmed to perform tasks more conveniently, starting from simple activities like reading back purchase history, checking account balances, they will be able to support some of the incredibly advanced functions.
Natural language generation is an artificial intelligence sub-discipline that converts data into text. Voice assistants are very common for years and can be encountered when you call a public hotline or corporate number as customer support services. Through this, computers can interact with perfect accuracy and generate reports and market summaries. They have now become more advanced, capable and precise and are applied to text and messaging tools as well. Combination of machine learning, big data processing, and statistical methods, have made them effective to communicate with humans with little or no conversational hurdles.
New technological advancements can transcript and transform the human language into useful formats that are suitable for computers. These systems are implemented into voice-response interactive systems and mobile apps. Examples of these assistants are Alexa, Siri, and Cortana that discern what people say and then take actions accordingly. However, sometimes their accuracy can suffer due to many reasons such as the tone or accent is not recognizable, the system isn’t developed to find new words and phrases, hardware issues like a low-quality mic. Efforts are being made to integrate AI and machine learning with speech recognition which will provide a better understanding of human language. This is different from NLP and chatbots because of the recognition tools, and none of these components can be used without the others.
It’s hard to predict the impact of technology on our lives in the coming years, but one thing is certain, artificial intelligence will definitely be a big part of the changes that may occur. So you should be ready to incorporate AI into your daily activities.
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