Artificial Intelligence has come a long way in revolutionizing the technology, human civilisation, industries and how we live our lives. Many companies are making are gradually making significant investments that can boost their business performance, improve ways to function and sustain in the cut-throat competition. According to a report by Narrative Science, 38% of companies surveyed used artificial intelligence in 2016. However, the report also predicted the percentage to increase to 62%. As the use of AI is rapidly increasing, there are a few technologies that will rule the market next year. Read the following AI blog to know more.
- Natural Language Generation
Businesses might often find it tricky to write or say words in the correct sequence so that is properly understood by the listener or reader. This can be even more difficult for a machine, as it processes information in an entirely different way. Finding a solution to this problem has been the key focus of the rapidly growing field of field Natural Language Generation (NLG) for quite a few years now.
- Speech recognition
Speech recognition is expected to transcribe and transform human speech into a format that is can be used by computer applications. A few of the companies that are offering these services currently include are Nuance Communications, NICE, etc.
- Machine learning platforms
The computers used today are completely different as compared to the ones used in the earlier decades. This is because of the development in machine learning, which is a sub-discipline of computer science, and, a branch of AI. These platforms are expected to gain even more traction next year because of their algorithms, APIs (applications programming interface), etc.
- Virtual agents
Virtual agents, also known as chat-bots are experiencing a tremendous resurgence in interest, and also a rapid advancement in innovation and technology. Some of the companies that make use of virtual agents are Amazon, Apple, Artificial Solutions, etc.
- Decision management
The intelligent machines present today are capable of introducing rules and logic to AI systems, which can be used for initial setup/ training, ongoing maintenance, and tuning. These machines are expected to be also used in wide range of enterprise applications, assisting in or performing automated decision-making.
- AI-optimized hardware
Today, companies are making huge investments in AI/ ML with hardware designs to accelerate the next generation of applications. Google, IBM, Intel, and Cray are a few companies focused on AI-Optimised hardware.
- Deep Learning Platforms
One of the fastest growing fields and a new AI trend in machine learning is deep learning. This is a set of algorithms that use artificial neural networks at different levels, which correspond to different levels of abstraction. A few examples of applications using deep learning are speech recognition, NLP, image/ recognition/ optical character recognition and others.
- Robotic process automation
Thanks to scripts and methods that mimic and automate human tasks for corporate processes. Robotic process automation is now expected to be used in situations where it is very expensive or inefficient to hire humans for a specific task. Remember, AI is not here to replace human jobs but to help complement and reinforce human talent.
- Text analytics and NLP
NLP is concerned with the interaction between computers and human languages. This technology makes use of text analytics to understand the sentence structure, meaning, intention and much more through statistical methods and machine learning. Indico, Coveo, Expert System, Linguamatics are some of the service providers and suppliers.
And the last technology in the future of AI for 2018 is biometrics, which deals with identification, measurement and analysis of physical aspects of the body’s structure and form and human behaviour. This technology encourages a more natural interaction between humans and machines. This technology is expected to be mostly used for market research.
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- Ghosh D, (2017), “10 Artificial Intelligence (AI) Technologies that will rule 2018” Knowstartup [online] available from: http://knowstartup.com/2017/08/10-artificial-intelligence-will-rule-2018/ [accessed in December 2018]