From SIRI to self-driving cars, artificial intelligence (AI) is progressing rapidly. AI can encompass anything from Google’s search algorithms to IBM’s Watson to autonomous weapons. Artificial intelligence leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.
Artificial intelligence applications
Speech Recognition: It is also known as automatic speech recognition (ASR), computer speech recognition, or speech-to-text, and it is a capability which uses natural language processing (NLP) to process human speech into a written format. Many mobile devices incorporate speech recognition into their systems to conduct voice search—e.g. Siri—or provide more accessibility around texting.
Customer Service: Online chatbots are replacing human agents along the customer journey. They answer frequently asked questions (FAQs) around topics, like shipping, or provide personalized advice, cross-selling products or suggesting sizes for users, changing the way we think about customer engagement across websites and social media platforms.
Computer Vision: AI technology enables computers and systems to derive meaningful information from digital images, videos and other visual inputs, and based on those inputs, it can take action. This ability to provide recommendations distinguishes it from image recognition tasks.
Recommendation Engines: Using past consumption behavior data, AI algorithms can help to discover data trends that can be used to develop more effective cross-selling strategies. This is used to make relevant add-on recommendations to customers during the checkout process for online retailers.
Automated stock trading: Designed to optimize stock portfolios, AI-driven high-frequency trading platforms make thousands or even millions of trades per day without human intervention.
“If you invent a breakthrough in artificial intelligence, so machines can learn, that is worth 10 Microsofts.” — Bill Gates
Importance of artificial intelligence
Importance of artificial intelligence
- AI automates repetitive learning and discovery through data
- AI adds intelligence to existing products
- AI adapts through progressive learning algorithms to let the data do the programming
- AI analyzes more and deeper data using neural networks that have many hidden layers
- AI achieves incredible accuracy through deep neural networks
- AI gets the most out of data. When algorithms are self-learning, the data itself is an asset
Artificial Intelligence in Industries
AI applications can provide personalized medicine and X-ray readings. Personal health care assistants can act as life coaches, reminding you to take your pills, exercise or eat healthier.
AI provides virtual shopping capabilities that offer personalized recommendations and discuss purchase options with the consumer. Stock management and site layout technologies will also be improved with AI.
AI can analyze factory IoT data as it streams from connected equipment to forecast expected load and demand using recurrent networks, a specific type of deep learning network used with sequence data.
From ensuring drug safety to getting new therapies to market faster, AI technologies can unleash the full potential of data to solve some of our greatest health challenges.
Artificial Intelligence enhances the speed, precision and effectiveness of human efforts. In financial institutions, AI techniques can be used to identify which transactions are likely to be fraudulent, adopt fast and accurate credit scoring, as well as automate manually intense data management tasks.
Artificial Intelligence can make smart cities smarter. It can support national defense with mission readiness and predictive maintenance. Across the board, AI can improve program efficiency and effectiveness.