In today’s world AI is no longer a buzzword, yes, what was once the realm of science fiction, has evolved into everyday business as we know it. Businesses are now using machines algorithms to identify trends and acumens in vast reams of data and making prompt decisions that potentially position them to be competitive in real-time.
According to the Forrester report, 2017 will see 300% more investments into the Artificial Intelligence (AI) industry, as compared to 2016. Another interesting fact to state comes from the International Data Corporation (IDC) report, the AI industry income will surge 6 times in 4 years: from mere $8 billion in 2016 to more than $47 in 2020. No wonder, more and more businesses are actively investing in AI to boost their business processes.
So, how are businesses incorporating the Artificial Intelligence Technology? Check out our list of the hottest artificial intelligence technologies around today.
Artificial Intelligence Technology – Top 10 for 2018
Natural Language Generation
It involves producing readable texts from computer data. Currently, this artificial intelligence technology is used in report generation, customer service, and summarizing business intelligence insights. Vendors who provide Natural Language Generation include Cambridge Semantics, Digital Reasoning, Attivio, Automated Insights, Lucidworks, Yseop, SAS, Narrative Science.
A virtual agent is a computer program that is capable of interacting or networking with humans. One of the most common technology of Virtual Agents are Chatbots. Presently, this artificial intelligence technology is being used for customer support, smart home manager, and customer service. Companies offering virtual agents include Amazon, Microsoft, Google, Assist AI, Apple, IBM, Artificial Solutions, Creative Virtual, IPsoft, and Satisfi.
Businesses are heavily investing in ML/AI with hardware designs envisioned to greatly accelerate the next generation of applications. Graphics processing units (GPU) and appliances precisely architected and designed to competently run AI-oriented computational jobs. Few companies focused on AI-Optimized Hardware comprise Alluviate, Cray, Google, IBM, Intel, Nvidia.
Deep Learning Platforms
Deep learning platforms use a special form of machine learning consisting of artificial neural circuits with many abstraction layers. This technology is mainly being used to recognize patterns and classify applications which are supported large-scale data sets. Some of the providers of this technology include: Deep Instinct, MathWorks, Adext, Ersatz Labs, Peltarion, Saffron Technology, Fluid AI, and Sentient Technologies.
Robotic Processes Automation
Robotic processes automation is reality and the credit go to the scripts and methods which successfully mimic and automate human tasks to support corporate processes. This technology is now being used in special conditions where it’s too expensive or inefficient to hire humans workers to execute a specific job. Pegasystems, Blue Prism, UiPath, Automation Anywhere, WorkFusion are few companies focused on this technology.
This AI technology uses text analytics to comprehend the structure of sentences, as well as their meaning and intention, through statistical methods and machine learning. Currently, it is being used for security systems and fraud detection, it is also used by a huge array of automated assistants and apps to extract unstructured data. Few of the companies providing this technology include: Basis Technology, Indico, Knime, Coveo, Expert System, Linguamatics, Mindbreeze, Lexalytics, Sinequa, Synapsify and Stratifyd.
Biometrics deals with the identification, analysis, and measurement of physical aspects of the body’s form and structure and human behavior. It empowers more natural interactions between machines and humans, including connections related to touch, image, speech and body language recognition. Biometrics is currently mostly being used in the research market. Popular suppliers of this AI technology are, 3VR, FaceFirst, Affectiva, Sensory, Agnitio, Synqera and Tahzoo.
Decision management has already been incorporated into several corporate applications to support and execute automated decision making. This brainy robot makes smart investment decisions to ensure a business is as profitable as possible. Vendors who provide decision management technologies include UiPath, Advanced Systems Concepts, Maana, Informatica, and Pegasystems.
Machine Learning Platforms
The prime goal of machine learning is to develop techniques that empower the computers to learn. Currently, this technology is being used in a wide range of enterprise applications, mostly for prediction or classification. Popular companies focused on machine learning include Amazon, Google, H2O.ai, Fractal Analytics, Microsoft, Skytree, SAS, and Leverton.
Nope, Siri is not the solo system that understands you. More and more systems are incorporating transcription and transformation of human language into useful formats suitable for computers using Speech Analytics or Speech Recognition. Currently, it is being implemented into mobile apps and voice-response interactive systems. NICE, Nuance Communications, OpenText and Verint Systems are few popular vendors offering speech recognition services.
The Artificial Intelligence industry continues to surmount the enterprise market, and these 10 AI technologies described above will become even more popular and important in the coming future. So, let me leave you with a question now: Are you prepared to incorporate artificial intelligence into your business?