Artificial intelligence is one of the biggest technologies that are all set to disrupt the way industries work now and in the future. Although the technology is still in its early stage, billions of bucks are being spent on R&D for amplifying the growth.
Machine learning and AI have a continuously growing presence today. The AI applications are inclusive of different verticals. From streamlining operations to having better decision making, it is very evident that artificial intelligence’s future has the potential to revolutionize how the world works.
Artificial intelligence was first introduced in 1956 but it took decades to depict significant progress.
Before moving ahead, take a look at the below mentioned Artificial Intelligence Stats:
- According to Statista, The global market of Artificial Intelligence is expected to touch $ 118.6 billion by 2025.
- According to PWC Global, the GDP of different countries are expected to grow by $15.7 trillion in 2030 with the evolution of Artificial Intelligence.
- Google Analysts have depicted that robots will mimic the complex behavior of humans by the year 2020.
- Artificial Intelligence software has the ability to amplify the productivity of the business by 40%. (Source: Accenture)
Source – G2 Crowd
Well, in the upcoming years, mobile phones will have AI built directly on the hardware with the help of a dedicated processor.
Recommended Read: Mobile Apps Transformation-One Step Closer to AI and MI
Artificial Intelligence Development 2018
Moving on, let’s look at some of the Artificial Intelligence breakthroughs of the previous years.
1. Facebook Portal
Facebook Portal managed to enter the home in October 2018. This portal was specifically designed to connect people so that they feel they are in the same room regardless of the physical distance.
There is a smart camera that recognizes individuals in the video call. It also has the ability to automatically position and repositions itself at a wider angle. So, the user is not out of sight, even if they are on the move. In addition to this, the volume also has the ability to adjust, making it portable for the users.
Virtual nursing has played a significant role in the healthcare industry. Patients reduce unnecessary visits to the hospital by giving quick access to the computer-generated avatars. These avatars give answers to the questions and concerns.
The virtual nurses respond to problems 24*7 without delay. Some have the ability to monitor patients on a regular basis ensuring that everything is under control.
Sensely has a virtual nurse named Molly that gives the benefit of remote monitoring and support for patients with different medical conditions. With the help of wearable devices, this nurse allows the patients to monitor the health by telling them how much their weight, blood pressure, and heart rate.
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3. Transportation (Self-Driven Vehicles)
AI has introduced self-driven vehicles. Tesla released the Autopilot project in 2018. With the help of machine learning techniques, self-driven vehicles are getting familiar with the directions, signals, road signs, and everything that enables the vehicle to run with minimal human interference.
4. Commerce (Alibaba ET Brain)
The eCommerce retail giant Alibaba introduced Alibaba ET brain which solves complex business and complex problems.
It collects and stores information about the cities in the cloud. Developers train algos to control smart cities. The total data collected is owned by the city. The complete projects have 1,20,000 developers working on its onboard and 2700 academic institutions across 77 countries.
AI has also influenced the education sector by introducing new tools that take away the complete workload from the tutors so that they have enough time for meaningful interactions with the kids.
Artificial Intelligence developers have created virtual classrooms to improve the learning process, making it easier for the student to understand easily.
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6. Google Lens
Google Lens is rolled out for the Pixel devices and is available for iOS and Android. The user can click a picture or view a real-time scene with a camera and learn more about objects. Users can zoom into anyone photo getting a close look and find where did they buy it from.
7. Improved Battery Life
With the new feature called adaptive battery, you can keep track of the battery consumption. The program understands the user routine and then shuts down apps in the background that are not in use. It also adjusts the brightness of the phone to preserve the battery.
8. Targeted Advertising
Do you know how the ads on your social media page or anywhere else matches your preferences? The reason is that the company collects and stores your data and personal information and analyses it via algos.
Although the idea wasn’t new but everything became sophisticated in 2018. All this clearly depicts that artificial intelligence entered into every sphere in the year 2018.
Impact of Artificial Intelligence in Business
By combining Artificial Intelligence in Business, the program is not only limited to computer instructions. Rather, AI will change the way the software behaves by making it work proactively according to the previous results.
1. Informed Decision Making
Implementing AI in business has become proficient in analyzing the data regardless of its quantity and that too faster than before. Businesses can now grab the chance to build better, personalized, and profitable campaigns.
The apps based on AI yield patterns and insights from the text, numbers, pictures, and video. You can also take advantage of AI voice assistants. And with the help of this, you get a better estimate of the budget and resources based on the insights from the advancing field of AI. Moreover, you can take the help of offshore developers so that they can successfully execute AI concepts.
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2. Lead Generation
Lead generation is an amazing process of identifying and cultivating potential customers for the products and services of a business. Whether it is a start-up or an enterprise, it is important to know the expenses linked to consumer acquisition.
AI-based systems have now started analyzing consumer data from social media accounts in order to understand their interest. After evaluating the human language, it complies with a clear picture of the buyer persona with the help of the information gained.
3. Better Customer Relations
Interacting with users is an important part of any B2C enterprise but with the help of the best artificial intelligence development company in India and other countries, it is all set to change these customer support processes in the upcoming years.
AI-Powered solutions have sediment analysis technology.
This clearly means, there is no need for a human to gauge the customer’s tone of voice, and business will thereby respond more effectively to the issues and queries. Moreover, customers who have a good experience with the company are a great source of word of mouth marketing.
Automatic live chats and AI chatbots will give better, more dynamic answers at a quick speed.
Recommended Read: 7 Best AI-based Chatbot builders to consider
Artificial Intelligence in 2020
There is a development conflux after this new surge of AI. The algorithm models are being refined and mobile capacity is increasing. All in all, the application of artificial intelligence in business and the complete world is generating volumes of energy that drives Artificial Intelligence:
1. Artificial Intelligence and Cybersecurity
Even today, many cybersecurity tools require human interaction at some point. Someone from the IT team has to set fireball policies and makes sure they are successfully running. But the advancement of AI transforms everything. Moreover, in 2020, companies will rely on smart tools to manage event monitoring and incident response.
The next-gen firewalls are will have firewalls having machine learning technology built-in them. The software has the ability to recognize the pattern and auto-bock the one that poses a threat.
Are you aware of the fact that the natural language abilities of artificial intelligence will become an integral part of the equipment related to cybersecurity?
End of passwords: Remembering all passwords makes everyone crazy. Moreover, passwords are always vulnerable to attack. There will be enhancements in the password manager software performance.
This will make online security more powerful and reduce manual efforts. Hire developers to the incorporation of algorithms will suggest as well as store even the most complex of passwords which will further decrease the chances of being hacked.
Artificial Intelligence future ideas are all set to carry all in the twilight zone of the World Wide Web without passwords. Additionally, the new advances suggest that it is possible that passwords may be replaced by a smart AI-based system.
Transportation is one of the major industries that will be affected by Artificial intelligence. The introduction of self-driven cars became a hot topic last year. All the credit goes to Telsa and Google. Although the cars will require a driver at wheels for safety reasons because the hardware is complex.
Well, fully-automated cars are expected in the year 2020. It is expected that approximately 10 million self-driven cars which will be connected to a high-tech network will run on the road universally.
Ridesharing services are another innovation by Artificial Intelligence developers that allow customers to use autonomous cars in the optimized routes. In addition to this, it will become a socially optimized experience changing the way individuals commute.
Smartphone-based cognitive behavioral therapy will be treating conditions like depression, eating disorders, and substance abuse.
Dr. Emmanuel Fombu, the author of Future of Healthcare, states that AI is one of the major disruptors in the healthcare industry. Doctors don’t have to waste their time on menial tasks. Also, it will provide personalization to every patient one-on-one.
From assisting the physicians in using the data-driven insights to take care of the patients, determining the cost of care can change the healthcare dynamic. Furthermore, the implementation of an Artificial Intelligence future is guaranteed to enhance the quality of life of millions across the globe.
McKinsey report 2018 report determined that Artificial Intelligence and robotics have a diverse range of opportunities in the healthcare industry and in the workplace. Above all, the Big Data strategies are able to save the US healthcare system single-handedly up to $100 billion every year and all the credit goes to in-depth research.
A survey by Gartner depicted that 27% of companies will deploy Artificial Intelligence in the year 2020.
The algorithms of artificial intelligence have a high potential in the finance industry. The self-learning algos are very significant to the financial firms and the clients as it feds the right amount of data.
Advisory Services: As per the PwC report, there will be more robots advisors in the upcoming years. Machines do what humans don’t. Another new field is bionic advisory that clubs machine calculation and human insight to deliver solutions that are accurate. Furthermore, this helps in balancing the ability to overview AI as an integral component in decision making.
Trading: Machines are very good when it comes to predicting the future. They collect huge data in a very short time span making it an essential part of trading and investment. Also, they have the ability to observe patterns in the data stream and forecast how they will repeat themselves in the future.
AI can make data-based decisions regarding where money has to be invested and time to buy and sell stocks. It may also enter into the world of emerging technologies like digital currencies. Above all, it will certainly automate most of the manual work.
Digital marketing is utilized in different ways with the help of AI-powered tools. It depicts customer behavior and enhances content creation. In the upcoming years, these tools will keep relying heavily on artificial intelligence technologies as they thrive for customization.
The next-gen marketing tools are going to utilize Artificial intelligence. More & more companies are planning to set up a team or hire AI developers to incorporate marketing tools so that communications become more relevant than before.
Artificial Intelligence development in India puts customers in different groups giving the opportunity for segmentation of the high target niches. Subsequently, this is how marketers come up with the new marketing content that will be distinct from every segment of the customer rather than publishing the same ad campaign.
Also, it will be able to track the type of content according to the interests of the consumers. Most importantly, this promises to boost conversions by giving customers an experience that is worth the time.
Earlier, the construction industry was deprived of technology and software. Today, many new start-ups and enterprise companies utilize Artificial intelligence in a big way.
The potential applications and uses of artificial intelligence in the construction industry are vast. Information requests, open issues, and change orders are standard. In addition, AI acts like a smart assistant that scrutinizes the data mountain.
Then, it notifies the project managers regarding the critical things that require their attention. There are plenty of applications that use AI in this pattern. In short, the advantages are inclusive of the mundane filtering of spam emails to advanced safety monitoring.
7. Business Intelligence
Artificial Intelligence impact on business has been tremendous. Companies get puzzled by such a huge amount of data volume generated by users, tools, and processors.
For this reason, traditional methods have started failing. Spreadsheets and dashboards are now replaced by AI-powered tools that look for in-sight data and then make auto-recommendations. Also, this software help change the way companies are using data and making decisions.
8. Information and Technology
Artificial Intelligence focuses on turning the computers into intelligent machines that might not be possible without a human brain. With the help of algorithms and computer-based training, AI develops an intelligent system that offers solutions to complex issues.
In addition to this, it assists in developing simulations that are equivalent to human intelligence. Without a doubt, you have to take the help of a reliable offshore development team to understand what elements can you add after the adoption of artificial intelligence.
Also, Artificial Intelligence Future is sure to make a significant impact on the IT industry as the technology advances more deeply into everyday use.
The legal sector has a great benefit of the deep learning applications. This is because of the nature of the language the program must parse. It is quite challenging to decipher legal phrasing but AI has made it possible as it has the ability to analyze tens to thousands of important documents.
How Artificial Intelligence Will Change the Future?
Artificial intelligence will sophisticate and diverse by the year 2020. The importance of artificial intelligence and its use in business is certain to continue at its own pace so you should take advantage of the standard business processes. This will further streamline the strategic output and vanish guesswork from decision making.
Artificial Intelligence and machine learning will continue to advance society and benefit the tech industry. Furthermore, the Artificial Intelligence developers are striving to bring a new change every day.
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