For a term that was coined in 1955 AI has come so far and yet so little. While there are technologies beyond the hype, when it comes to the knowledge of the general population AI is still a pretty futuristic technology. What AI is doing today to the numerous industries is what electricity did when it became a household thing. So is it possible that in 50 years we could use AI in our houses like we use electricity today, I hope it's cheaper than electricity of today. Every industry is running towards the AI finish line, for the big companies it is a race to win other it is a race to complete. A Narrative Science survey found that while in 2017 the companies that were using was 38% within a year it has grown up significantly to 62% in 2018. The numbers have not only increased in the number of companies that are using it but in the number of companies that are investing in it. According to a research a greater than 300% increase in investment in AI has been seen in the year 2017 compared with 2016. Let's see were the numbers go by the end of 2018.
When the word AI first came out it was used as a new computer field. Now it has a lot technology so tested over time and some relatively new. Here are some technologies you should know about that are changing the landscape:
1. Natural Language Generation: NLP helps computer understand and interpret and manipulate human language. It is currently being used in customer services, production descriptionand financial reports. Some vendors of NLP are Attivio, Automated Insights, Cambridge Semantics, Digital Reasoning, Lucidworks, Narrative Science, SAS, Yseop.
2. Speech Recognition: The ability of a machine or program to identify words and phrases in spoken language and convert them to a machine-readable format. It is currently being used in voice search, speech-to-text. Some of the vendors are NICE, Nuance Communications, OpenText, Verint Systems.
3. Virtual Agents: It is a computer generated, animated, artificial intelligence virtual character that serves as an online customer service representative. It is currently being used in smart home manager, customer services. Some of the vendors Amazon, Apple, Artificial Solutions, Assist AI, Creative Virtual, Google, IBM, IPsoft, Microsoft, Satisfi.
4. Machine Learning: Machine learning (ML) is a category of algorithm that allows software applications to become more accurate in predicting outcomes without being explicitly programmed. It is currently being used in algorithms, development tools. Some of the vendors are Amazon, Fractal Analytics, Google, H2O.ai, Microsoft, SAS, Skytree.
5. AI-optimized Hardware: 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. It is currently being used in deep learning apps. Some of the vendors are Alluviate, Cray, Google, IBM, Intel, Nvidia.
6. Decision Management: It entails all aspects of designing, building and managing the automated decision making systems that an organization uses to manage its interations with customers employees. It is currently being used for operatonal decisions. Some of the vendors are Advanced Systems Concepts, Informatica, Maana, Pegasystems, UiPath.
7. Deep Learning Platforms: it is a subtype of machine learning. Its copies the wy a human brin works and uses artificial neural network for processing data and aids in decision making.it is currently being used for recognizing patterns and classifying apps. Some vendors are Deep Instinct, Ersatz Labs, Fluid AI, MathWorks, Peltarion, Saffron Technology, Sentient Technologies.
8. Biometrics: 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. Some of its vendors are 3VR, Affectiva, Agnitio, FaceFirst, Sensory, Synqera, Tahzoo.
9. Robotic process automation: 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 vendors are Advanced Systems Concepts, Automation Anywhere, Blue Prism, UiPath, WorkFusion.
10. Text analytics: Natural language processing (NLP) uses and supports text analytics by facilitating the understanding of sentence structure and meaning, sentiment, and intent through statistical and machine learning methods. Currently used in fraud detection and security, a wide range of automated assistants and applications for mining unstructured data.some of the vendors are Basis Technology, Coveo, Expert System, Indico, Knime, Lexalytics, Linguamatics, Mindbreeze, Sinequa, Stratifyd, Synapsify.
While there are other AI technologies these are the technologies that are tested over time and are getting better almost everyday.