Artificial Intelligence Industry Overview

By:Manmeet Kaur Tura 2018-12-10

Artificial Intelligence industry has been growing rapidly over the past few years and it is estimated that almost all of the companies started using it by the year 2015. Indeed, designing most Artificial intelligence solutions is turning into one of the top priority among a lot of major ambitious companies. 

According to the research conducted by the PwC, more than seventy-two percent of business leaders believe that using artificial intelligence offers a lot of advantages to their business, and the Adobe data shows that the top performing companies are more likely to utilize the AI technology in their marketing than any other low ranked companies. For research and markets purposes AI has a lot of benefits and it is in some of these areas where AI is expected to make some big impacts.

Due to the complex data-driven apps like image and voice recognition and Information Services of the artificial intelligence is getting a lot of fame. Apple’s Siri and Amazon Alexa are some of the good examples of how people are adapting to using Artificial intelligence. AI provides many good investment chances, as the AI can be used with other technologies to overcome the problems of high computing power, heavy data volumes and a shortage of data storage.

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For Polls and Research purposes artificial intelligence can be a great tool for any type of organization. According to the research conducted by markets and markets, the international research company, this market of artificial intelligence is expected to increase up to five billion US dollars by the year 2020 because of the use of machine learning technologies and natural language processing for the finance, advertising, retail, and healthcare.

Various benefits of the Artificial Intelligence:

AI is pretty intricate. It utilizes an extremely complex blend of mathematics, computer science, and other kind’s complex sciences. The Complex programming assists AI to imitate the cognitive abilities of humans.

1. Error Reduction:

AI assists us in reducing any type of error and the chance of getting accuracy with a better degree of precision is a chance. It’s applied in a lot of studies like the exploration of space.

AI bots are fed with data and are sent out in the space to explore it and send the data back to earth. Since they’re machines with the metal bodies, they’re resistant and have greater ability to function in the aggressive atmosphere and space.

They’re acclimatized and designed in such a way that they can’t be customized or get a breakdown or disfigured in any type of hostile environment.

2. Tough Exploration:

The science of robotics and AI can be put to use in the mining and any other type of fuel exploration processes. Not just that, these machines can be utilized for searching something new in the deep ocean floor and therefore overcome the limitations of the humans.

Because of the programming of AI, they can do more hard and laborious work with a better response. Moreover, they don’t wear out.

3. Everyday Application:

Computed techniques for automated perception, reasoning, and learning have become an ordinary phenomenon in everyday human lives these days. We got our lady Cortana or Siri to assist us in any phone related task.

We’re also getting on the road for trips and long drives with the assistance of the GPS. Smartphone in a fitting example of the how we make use of AI. In utilities, we can observe that they can guess what we’re going to type and fix the errors in the spelling made by us automatically. That’s AI at work.

When we take any photo with our Smartphone’s, the AI algorithm detects and identifies an individual’s face and tags that person automatically when we are about to post our photographs any social media platform.

AI is widely used by banking institutions and financial institutions to manage and organize data. Detection of the scam uses IT in a smart card based system.

4. Digital helpers:

Nowadays Highly advanced business organizations make use of ‘avatars’ which are digital assistants or replicas that can interact with any user, which in turn saves a lot of money since there is no need of any human resource.

Emotions are a barrier in rational thinking for any human beings but that is not the case with AI. The total absence of the emotions, makes the AI bots think completely rationally and logically and take the correct decisions.

Emotions are associated with moods that can cloud judgment and affect human efficiency. This is completely ruled out for machine intelligence.

The human emotions are completely connected with the mood which could cloud the judgment which in turn affects the efficiency. with artificial intelligence that is not the case at all.

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