Artificial Intelligence is becoming the buzzword of tech industry and is most promising technology of today’s market and future. AI finds its application in almost every sphere right from healthcare industry to manufacturing, transportation and many others.
AI has the potential to reinvent business models and satisfying customer deeply by having more interaction.
Present use of AI is limited and has been used extensively. Given below are some of the potential AI technologies that are revolutionize the industry.
- Machine Learning – We don’t actually realize that we are using Machine Learning (ML) everyday from intelligent apps to software applications. Cognitive learning has been successfully and progressively replaced by ML in many scenarios.
- Virtual Agents – Customer experience makes a project flop or hit show that’s why virtual agents are being used to interact with customers. Mostly used in chatbot(e.g Sir) and smart speakers(e.g. Google Home). These virtual agents use ML extensively.
- Speech Recognition – Speech recognition is the ability of a machine to convert the spoken words into language that a machine understands. This technology is extensively used in interactive systems like Alexa and apps like Google Translate etc.
- Intelligent Things – AI has been successful in making things intelligent by being used and making them interactive. E.g. Image content analysis, Object identification, video recognition are all ‘Intelligent’ without being explicitly programmed.
- Deep Learning – Going more into depth of Machine Learning, algorithms are designed mimicking structure and function of brain which is also called artificial neural networks. Deep Learning is extensively used in Healthcare industry and pattern recognition.
- Text Analytics and NLP – This technology is used in understanding sentence structures, their meaning and intention. This is made possible through statistical methodologies and machine learning. Fraud and security systems use Natural Language processing and Text Analytics.
- Natural Language Generation – This technology is a subset of AI that converts data into text. Currently natural Language Generation is used in generating reports and market summaries.