Blog: 7 AI In-Demand Technologies To Rule In 2019
We are completely aware of the fact that the market for artificial intelligence (AI) technologies is touching the sky. There is a competitive race going on among startups and the Internet giants to get them.
Moreover, more and more companies are investing and adopting artificial intelligence for business. As per Narrative Science survey, it was found that 38% of businesses were already using AI, which grew to 62% by 2018.
And, according to the prediction done by Forrester Research, it came out that more than 300% rise in the investment in artificial intelligence was made in 2017 in comparison to 2016.
Moreover, as per IDC estimation, the AI market seems to grow from $8 billion in 2016 to over $47 billion in the year 2020.
These days, completely under the influence of digital technologies, Artificial Intelligence has innumerable technologies and tools, some of them have been used for a long time and worked as expected from them, while some of them are relatively new.
For app developers, Forrester published a TechRadar on Artificial Intelligence to let them know what is new and exciting and what’s not.
According to Forrester’s analysis, we offer you the 7 most exciting and latest AI technologies to rule in 2019:
- Speech Recognition
Alexa is one of those systems which can understand you. Each and every day, innumerable systems are developed that are capable of transcribing human language, making their way to million via voice-response interactive systems and mobile applications.
2. Natural Language Generation
Natural language recognition is a sub-discipline of artificial intelligence converting data into text. It allows the computer to communicate ideas with indubitable accuracy.
This technology is used in customer service for the generation of detailed reports and market summaries. And, it is provided by many companies like Automated Insights, Cambridge Semantics, Lucidworks, Digital Reasoning, or Attivio.
3. Machine Learning Platforms
In this era, where technology is subject to change, and it is always evolving to give human beings something better. In fact, the technology has developed to this extent that the computer can easily learn and become intelligent.
Machine learning (ML), which is a subdiscipline of computer science and AI branch. The purpose of this powerful technology is to build more advanced technologies which make possible for the computer to learn.
By offering algorithms, big data, development and training tools, APIs (application programming interface), apps and other machines, ML platforms are gaining worldwide attraction day by day.
These days, they are fundamentally being utilized for prediction and classification. The companies providing ML platforms are Fractal Analytics, Google, Amazon, H2O.ai, SAS, Skytree, Adext, and Microsoft.
4. Virtual Agents
Virtual agents are generated and animated by means of computerization. They are artificial intelligence virtually character, most of the times with anthropomorphic appearance, and, they work as an online customer service representative.
It is known for an intelligent conversation with the user, answers their questions, and does adequate non-verbal behaviour.
A virtual agent is currently being utilized mostly for the purpose of customer support and service, and smart home managers.
The companies provide virtual agent technologies are Apple, Amazon, Assist AI, Artificial Solutions, Google, Creative Virtual, IPsoft, IBM, Satisfi, and Microsoft.
5. Decision Management
An intelligence machine can introduce rules and logic to AI systems to allow you to use them for initial setup/training, ongoing maintenance, and tuning.
The technology decision management has already been incorporated into many corporate apps to help and execute the automated decision, allowing your business to make profits to a large extent.
6. AI-Optimized Hardware
Artificial technology is famous for making hardware friendlier. It does so by means of new graphics and central processing units and processing devices which are specially-designed and structured to do AI-oriented tasks.
And, those who haven’t seen them before must expect the imminent appearance and wide acceptance of AI-optimized silicon chips which can be inserted into their portable devices.
To get this technology, you must reach Cray, Aluviate, IBM, Google, Nvidia, and Intel.
One of the most famous technologies of AI is biometrics, which can very easily identify, measure, and analyze human behaviour and physical aspects of the body’s form and structure.
The technology makes possible more natural interactions between human beings and machines, which includes interactions like touch, speech, image, and body language recognition, and huge within the market research area.
To obtain this technology, you must go to 3VR, Agnitio, FaceFirst, Affectiva, Synqera, Sensory, and Tahzoo. All of them are biometrics companies striving for developing this area.
How can AI benefit your business?
As per global management consulting and professional services firm called Accenture, AI will boost productivity by up to 40% and allow the workforce to use time efficiently.
If a small company incorporates AI into own operational processes and workflows, it will be helpful for their workers in paying attention to other necessary tasks, which results in more production.
And, According to McKinsey, 70% of businesses will utilize some form of AI by 2030, which will lead to an extra $13 trillion of economic activity on a global scale.
How AI is revolutionizing industries
AI plays a revolutionary role in how business is done, and the following industries are being and will be revolutionized by Artificial Intelligence.
AI-powered diagnostics can offer valuable medical information to suggest possible conditions and treatment, deliver anesthesia, or help medical professionals with medical procedures.
Artificial Intelligence is capable of tracking students’ learning and having an idea of their understanding of a subject. Moreover, it can also offer appropriate guidance and feedback which will help students make progress.
AI is not behind in influencing management roles, performing administration duties, processing data, and leaving more subjective things up to human managers.
In this blog, we discussed 7 AI in-demand technologies to rock in 2019, or further. Speech recognition, decision management, AI-optimized hardware, biometrics, natural language generation, and the like came up here.
Apart from that, we also mentioned how AI can benefit your business by providing reliable and appropriate data. And, healthcare, education, and analytics industries were discussed as the ones to be revolutionized by this technology in the coming years.