Let’s start with an example:
We are all acquainted with the phrase, “Netflix and chill.”
How do you think Netflix got there? How did they manage to achieve a huge customer base who pay a lot of money every month just to use the services?
If you use Netflix, you may have noticed that the app has a whole section for the movies and TV shows recommended for you. These recommendations are based on your previous choices on the platform. Using the power of predictive analysis, the app suggests the best possible sort of movies and TV shows to watch. Most of the times, we won’t even look beyond that section.
Netflix achieved all this with artificial intelligence. We always talk about Siri, Alexa, self-driving cars, and other AI inventions. But, the simplest, highly utilized example is sitting right in front of us, being utilized by thousands of people on a daily basis. That is the power of artificial intelligence!
No doubt many organizations are using AI to enhance their functioning. According to a recent study conducted by Deloitte, 82 percent of organizations have gained high ROI after investing in AI.
The market of AI in increasing as you read this. Hence, we have prepared a list of top 10 artificial intelligence trends we will see in the following months:
- Chatbots and virtual assistants will enter the market with full momentum. You will see more organizations using AI-powered smart chatbots for 24*7 customer support. Emergency responses such as password changes, order status, and grievance redressal will be correctly handled by these bots at any time of the day.
- As artificial intelligence and its sub-technologies such as augmented reality become more affordable, businesses will use it everywhere. Take voice command, for instance. Amazon Alexa is already using it and we will see many more voice-enabled AI-powered devices in the future. Then, you would only have to call out to your AI assistant for repetitive tasks.
- Many scientists are currently working on developing models of machine learning that will learn on its own. This step is most hectic as training ML models are difficult. If ML models will be able to train ML models, then things would be easier and hassle-free.
- We already know that NLP (Natural Language Processing) and NLU (Natural Language Understanding) have gained immense growth in recent years. Now, machines and voice assistants are being developed that will understand human emotions, sarcasm, and react accordingly.
- Quantum computers enable scientists to make faster calculations. These computers have high computing ability. In the following years, more research will be achieved in this field to reduce system errors, improve efficiency, and increase computing speeds.
- Facial recognition feature is already there in many computers, laptops, and smartphones. Its accuracy will increase in coming years as more research will be achieved in this field.
- Many AI systems have bias ingrained in their structure. Research is being carried out to reduce this bias. For instance, Amazon removed a tool used for hiring as it has a bias against recruiting women. These biases can be removed from AI in the future.
- Neural networks will advance more in terms of sensory, time, and text usage. For instance, it is natural for humans to interpret handwriting of any other humans. For machines, it is not an easy task. Neural networks would be taught to interpret handwritten data and find patterns in it.
- AI will increase the compliance and privacy structure of organizations. Now, with GDPR in the picture, this is one thing that businesses can benefit from – a lot.
- Today, we only hear that there is a self-driving car. In the coming years, we will get to use self-driving cars.
Conclusion
Artificial intelligence is creating a future for the coming generation. It has the ability to transform and modify the world. There will be various other exciting advancements in this field and we will keep you updated of these new, emerging applications of AI.