June 5, 2018
Technology is offering us a variety of ways to refine how we operate, think and interact with each other. In fact, there has been a 1300% increase in the number of active AI startups since 2000, according to a report from Stanford University’s AI Index.
A well-ironed AI system eclipses what the human mind and body is capable of, delivering results with a high degree of accuracy. This has led to an increase in job creation for workers with AI skills by 350% around the world compared to 2013, according to Stanford.
Here are five of the fastest growing AI applications right now:
1. We now have advanced digital systems made up of deep neural networks that can communicate with humans and offer high-quality responses to their queries in real time, known as virtual assistants. These can serve as voice assistants, but there’s also been a rise of chatbots that can have a text conversation with humans and help them navigate through a website, product or service.
These virtual agents can answer your customers’ questions with a high degree of accuracy, learn their patterns and offer them personalized interactions that mimic human conversations.
2. We also have speech recognition software that can better understand language from people of all backgrounds. This technology can recognize a wide variety of speech inflections, accents, and slang words, while also shutting down the noise in the background. In the past, humans would have to spend long hours to train a computer system to recognize their specific words, but these systems can customize rapidly and recognize a wide assortment of information nowadays.
3. The field of data analytics has also increased steadily with AI as its backbone in recent years. The technology can amass data and use deep learning to recognize patterns across datasets, offering work outputs that can help companies in data analysis across a number of fields. These include offering investment analysis, managing a company’s financials, offering smart marketing recommendations, optimizing a retailer’s supply chain and enhancing their logistics services.
A top-of-the-line software company offers advanced data analytics platforms through intuitive and logical designs. The use of graphics such as charts and diagrams can help your workers visualize their analytics. You could benefit from using this technology to better serve customers by developing more specific segments designed to make each consumer feel appreciated in a world of growing personalization
4. If you’re a retailer or manufacturer, you can also benefit greatly from the advancements of AI. These can be programmed to automate the process of building a car from scratch, including the assembly, painting and fine-tuning process.
Less advanced techniques rely on sensors to repeat the same task over and over again based on instructions from a control program. Intelligent applications have more sensors, large processors and vast memory equipped with neural networks that allow them to learn from their mistakes and adjust accordingly.
Their tasks vary from automated delivery in a factory, inspecting other devices, bomb disposal and exploring dangerous environments.
5. Natural language processing (NLP) is another way in which companies are personalizing the customer experience. This technology uses text analytics (statistical methods, word embedding, and machine learning algorithms) to understand the structure of sentences and different language nuances.
NLP can be used to develop more advanced security systems, detect fraud and to extract unstructured data. AI also serves a role here in the automation of content production and management, offering digital advertising solutions through text analytics. For example, in research assistance applications, NLP platforms can amass information from word processors with search engines to develop an advanced learning tool.
The platform offers a word processor capable of learning from what you write and it can then research topics that fit that particular context, giving you links to the topic.
You can use AI nowadays to develop new avenues to connect with consumers. And with the right company, you can create state-of-the-art AI tools that churn out better customer service, more interactive user interfaces, and other smart solutions.