Artificial Intelligence refers to the intelligence demonstrated by machines, particularly computers. AI is transforming the way enterprises view business intelligence. Recent studies point to a marked increase in the adoption and investment in Artificial Intelligence(AI) by enterprises through the years. Needless to say, the market for AI technology is flourishing with businesses realizing the potential of AI to boost their growth.
Today, AI has spawned various technologies of which some are tested and some are new. Following are the 10 latest technologies that are altering the very landscape of AI:-
Natural Language Processing(NLP)
Natural Language Processing(NLP) is an area of AI concerned with the interaction between the computer and human language. In simple words, NLP is a software that enables machines to process human language, thus making it possible for humans to communicate effectively with machines. NLP uses text analytics to understand sentence structure, meaning & intent through machine learning and statistical methods. Some of the popular software that uses NLP are Virtual assistants such as Apple’s Siri, Amazon’s Alexa, Google Assistant & Microsoft’s Cortana. It is also used in data mining, security and fraud detection. Some of the vendors of NLP are Lexalytics, Knime, Linguamatics, Mindbreeze, Sinequa, Stratified, Basis Technology and Indicco.
Natural Language Generation(NLG)
Natural language Generation(NLG) is a sub-discipline of Artificial Intelligence(AI) that converts all types of data into human-readable text. This software converts data into text at a rapid pace, enabling machines to communicate effectively. Currently used in customer service, automating business intelligence insights, product description, and financial reports. Some of the vendors in this market are Digital Reasoning, Attivio, SAS, Cambridge Semantics, Narrative Science & Yseop.
The fundamental goal of machine learning is to develop intelligent machines that can teach themselves and improve from data without explicit programming or any other human interference. This latest technology is a top priority for most organization and business’ are now investing in it right now to redefine their business edge. An ML platform comprises Algorithms, development tools, API’s, model deployment and more. Tech giants like Google, Amazon, and Microsoft are already using this technology.
Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is the automation of rule-based tasks. It is possible because of scripts and methods that mimic the way humans perform tasks. Enterprises are currently employing RPA in business areas where it is too expensive and inefficient to employ human workers. Some of the companies that use this technology are Blue Prism, UiPath, WorkFusion, and Pegasystems
This is a software that is increasingly being utilized by mobile phones and applications. It facilitates the transcription and transformation of human speech into a form that can be easily understood by a computer ie, it allows the application/program which uses it to convert human language and phrases into data. Organizations can use speech recognition for voice dialing, voice search, call routing, voice search, and speech-to-text processing. Some companies that use this software are NICE, Open Text, Verint Systems, and Nuance Communications.
It’s highly unlikely that you are not familiar with this term. Siri, Cortana & Alexa are few examples of virtual agents with whom we interact on a daily basis. To define, they are computer programs or agents capable of interacting with humans; it can range from chatbots to other advanced systems. Virtual agents are widely used in smart home manager, customer service, and support. These agents are able to make intelligent conversation, can respond to queries and work 24/7. Some of the companies that are dominant in this market are Apple, Amazon, Microsoft, Google, and IBM.
Hardware Integrated with AI
The addition of AI technologies in hardware has sped the next-gen applications. It means new graphics and central processing units and devices tailored to execute AI oriented tasks. At present they are making an impact on Deep learning Apps. Some of the vendors of this technology are IBM, Intel, Nvidia, Google, and Cray.
Business Decision Management (BDM) framework includes everything about the design, building, and management of automated systems for decision making. Automating decision making would aid organizations to make consistent, efficient and information-driven decisions. Organizations use it to manage their customer, employee and supplier interaction with a view to enhance operational decisions. Banking, Insurance and financial sectors are examples of organizations using software to aid in their decision-making process.
It enables natural interaction between machines and humans. Biometrics & Biometric data comprises of things like fingerprints, voice recognition, retinal pattern, and face structure and thus is unique to each individual. It involves identifying, measuring and analyzing the body’s physical structure, form, and behavior. This technology is commonly used in market research and some of the vendors of this technology are Affectiva, Agnitio, Sensory, Synqera, Tahzoo, 3VR and Facefirst.
Deep Learning Platforms
Deep learning is a subtype of machine learning. It mimics the way the human brain works and uses artificial neural networks for processing data and aids in decision making. Information passes through this artificial network altering their structure based on the input and output. The learning thus comes here from observing large data. Deep learning is currently used for recognizing patterns and classifying apps that are compatible with large data. Some of the companies that use this are Saffron technology, Fluid AI, Peltarion, Deep Instinc, and MathWorks.
It is very evident that these technologies are going to revolutionize the way enterprises do business. To jump on the bandwagon of AI, the first step is to understand what it entails. There are thousands of courses available today that can help you towards it. SpringPeople offers one of the best AI course.