6 Most Exciting Artificial Technology Trends that can Boost your Business

6 Most Exciting Artificial Technology Trends that can Boost your Business

Artificial intelligence (AI) is not a thing of the future anymore. It is here and is changing the technology landscape like never before. It is bringing forth the new innovative tools that are solving the most complex computer problems. The AI market is growing at an exponential rate and it is becoming difficult to catch up with it. The startups and the IT giants are competing equally to use the AI to their advantage. Businesses today are more interested in investing in as well as adopting AI. IDC estimates that the AI technology market will grow to over $47 billion by 2020.

The possibilities under AI are immeasurable. However, there are a few trends that are taking the world by storm lately and here is a brief insight into them.

  1. Speech Recognition and Voice Control

Google Home, Alexa, and Siri are some examples of voice assistants that can understand voice commands and can act on them. There is an increase in the number of systems that have the ability to transcribe human language. These voice-response interactive systems allow the users control multiple devices including the household electronic gadgets.

 

  1. Machine Learning

Machine learning is the branch of AI that allows the machines to learn from previous behavior. It is powered by algorithms, big data, and APIs and is gaining popularity. It is a powerful technology that makes it possible for computers to learn based on previous behaviors and modify their operations accordingly. It requires minimal human supervision. Machine learning is instrumental in making predictions and is finding applications in almost all industries including IT and healthcare.

 

  1. Virtual Customer Service Representatives

Another very important function of AI these days is virtual agents generated through animation. They are made to look and perform like humans. The major application of these virtual agents is in customer service representation where they are capable of making an intelligent conversation with the customers. It is one of the most promising AI applications. Virtual representatives can answer customer questions, take complaints, and solve queries that do not require high-end tech services.

 

  1. Decision Making

AI uses rules and logic for setup and maintenance of the systems. The systems are capable of making decisions by learning from the previous behavior and usage of the data accumulated over time. The automated decision making takes the load off the workforce and they can utilize their time in other functions that are crucial to working of an organization. This enhances business profits considerably.

 

  1. AI-Optimized Hardware

With the advent of AI, there is a need for AI-friendly hardware. Only AI is useful in developing such devices by making new graphics and processing units. This hardware is designed specially to do AI-related tasks. You can expect AI-optimized silicon chips to become mainstream in the near future. These chips could be inserted into portable devices. The IT giants like Google, Intel, and IBM are spearheading efforts in this direction.

 

  1. Biometric Recognition

Biometrics are finding extensive applications in various sectors in the world of late. It refers to the branch of AI that uses fingerprints, retina scan, and other such physical aspects to identify a human being. Biometrics also makes it possible to have more natural interaction between humans and machines like touch recognition, speech control, and body language identification.

How do businesses benefit from AI?

Artificial intelligence applications boost business productivity significantly. AI technology is being used by companies to optimize operational processes and workflow. Since the AI is capable of taking decisions and requires minimal manual supervision, the workforce is free to use their time in other tasks and therefore, the businesses become more profitable.

Conclusion

For the businesses who have not yet started using AI and related applications, now is the right time to do it. The future will present numerous opportunities to use AI and machine learning to boost ROI. For more information or if you have any questions, reach out to our AI experts at MarkSpace Media.

Artificial Intelligence in Business

Artificial Intelligence in Business

The business landscape is changing and technology is taking over. Artificial intelligence (AI) is a new tool that is making businesses stronger and more profitable. The AI technology is capable of much more than just human-like interaction. The advanced AI algorithms are designed to offer relatively higher speed and reliability than humans and at a lower cost, thereby, making them a better choice for businesses. This technology is not just a theory anymore and has found practical applications in the world of late and businesses are no exception to it.

Research suggests that AI being embraced by the corporates and companies are increasingly making use of it.

  1. E-Commerce

E-commerce benefits from this technology a lot. Artificial intelligence can help e-commerce businesses by doing automatic tagging, organization, and visually searching content using the video or image labels. It helps the customers to search for products using filters like color, size, shape, brand, and more. When you search for certain product on an e-commerce website, the software automatically shows you other products similar to the one you have searched for. These capabilities are only improving with time and are expected to become more sophisticated.

  1. Workplace Communication

At present, all the business communication is about content, tools, channels, and so on. This keeps the businesses from reaching their targets and also affects the work-life balance of the people working in them. Artificial intelligence, however, aims at improving the internal and external communication by personalizing individuals and therefore, leading to increased productivity. People in the business will be able to take care of the actual work while the virtual assistants will do all the mundane tasks. This will make the businesses more efficient.

  1. Cybersecurity

AI comes in handy to allow the companies to detect any anomalies or vulnerabilities in business applications like ERP and other software. Although artificial intelligence in cybersecurity still has a huge scope of development, it works effectively when it comes to data protection.

  1. Chatbots

The AI-powered chatbots are capable of interacting like their human counterparts. They make use of the standard messaging tools and voice-activated interfaces. This, in a way, streamlines the time used by analysts and speeds up the business by allowing the people in the business to focus on the business goals and work towards their accomplishment.

  1. Human Resource Management

Machine learning and artificial intelligence are completely changing the human resource and recruitment landscape. HR is one of the primary areas of the business to benefit from AI the most. The reasons being the large amounts of quality data in HR and it being one of the most crucial departments in every business. Automating the HR processes will allow the HR people to work directly with the people and improve the output. AI will take over the mundane tasks related to HR and also provide insights into how to make the work better.

  1. Supply Chain and Logistics

AI along with customer data and analytics removes all friction that an e-customer might experience. It allows the business to process the consumer data and use it to make improvements in the operations. Autonomous trucks and robotic picking allows the supply chain to provide service 24x7. In the near future, the term ‘business days’ will be nearly obsolete in this industry.

  1. Manufacturing

AI can help the businesses streamline the manufacturing process by reducing the non-productive downtime, anticipate failures, and enhance the production process. The capability to process huge volumes of data within seconds makes it important to businesses. It can, based on analysis, provide real-time recommendations about what material to use and at what time to inject it to make sure that the process never stops.

 

And this is just the beginning. In the near future, artificial intelligence will be able to do anything with minimal supervision. It is going to expand its horizons and change the way we look at businesses. If you are a business leader, you need to study and explore it further to find a way for it to strengthen your business. Leveraging the power of this wonderful technology can take your business to new heights.