AI, off late, has gotten accepted across every industry you can think of. Disruptive tech is affecting the daily lives of people across the globe. A few examples of the same would be routed to an unknown destination using an AI-powered GPS app, switching on and off the electrical devices and gadgets using voice commands, among many others. The applications of artificial intelligence technology have now become common in a plethora of industries such as healthcare, farming, e-commerce, and automotive.
AI Tech to Soon Take Over Our Lives
AI & cognitive systems revenues globally amid 2015 and 2024 (in billion USD)
Source: Statista
There will soon come a point in our lives when we will get completely dependent on AI to perform day-to-day activities. These would comprise dependence on AI when commuting to work while a driverless car would pick up us in the morning and will park itself after dropping us at the workplace, virtual assistants waking us up in the morning, and AI robots based on data analysis helping us in our work-related decision-making. There will be a need for thousands and millions of new AI professionals in the next few years, given the degree of AI adoption across business sectors.
Top 5 AI Technologies Ruling the Global Business Landscape
#1. Natural Language Processing (NLP)
Natural language processing is basically an AI tech that deals in understanding human communications among themselves and how would a computer imitate human behavior. The technology has helped computers analyze and understand human voice commands, thereby helping human beings communicate with computers better. As a matter of fact, AI Engineers adept in NLP will be high on demand in the years to come.
#2. Speech Recognition
Siri, the virtual assistant to the Apple gadgets and devices, is the best example of a speech recognition device. The technology helps transform the human voice into a format easy to be recognized by computer applications.
The Need for Speech Recognition: Speech happens to be the most popular form of communication worldwide as a large percentage of the population converses through talking. The biggest benefit of speech recognition technology is that it overcomes the issue of literacy. Even less literate, or illiterate people can give commands to a computer in their native languages using the said AI-powered tech.
#3. AI-Powered Hardware
Specific devices are being developed, structured, and trained to perform AI-backed tasks, thereby leading to improved graphics and a much-efficient CPU (central processing unit). For example, an AI silicon chip that can be put in any sort of portable electronic device. Tech giants such as IB, Intel, Nvidia, Cray, Google, and Alluviate are increasingly investing in AI-backed hardware to help develop the next generation of AI-powered apps.
#4. AI Chatbots
A chatbot or a virtual agent is a trained AI software that holds the capability to converse effectively with human beings and resolves their issues regarding products or services of a business. Predominantly, chatbots are being deployed at the moment by companies across industries to offer self-service customer support. The most popular chatbots available in the market have been developed by the biggest of companies globally, such as Microsoft, IBM, Amazon Google, and Apple, and the specific names of such chatbots include Cortona, Watson, Alexa, Google Assistant, and Siri.
#5. RPA (Robotic Process Automation)
RPA deals in automating the corporate processes while deploying scripts and a few other intelligent methods to imitate human tasks. The said application was not introduced in the first place to replace humans, but it promotes and adds on to human talent & skills. Firms such as Work Fusion, UiPath, Blue Prism, Automation Anywhere, and Pega Systems are the prominent developers of the said technology.
