Artificial Intelligence (AI) is everywhere and it’s transforming the way we work or buy things online. AI has become a significant force in all sectors of the industry. Big organizations are utilizing the power of AI to increase productivity and streamline processes.
AI technologies continue to evolve rapidly and change the way businesses carry out operations. To reap the benefits of AI technologies to the fullest and achieve business goals, all organizations – big or small will need to develop a robust strategy
The article brings together different AI technologies and trends that businesses can use as per their business preferences.
12 Transformative Technologies & Trends for Businesses
Everywhere you look, you’ll find news about ChatGPT. It’s a language model that can answer any question you throw at it. The tool browses millions of web pages to bring the most appropriate answer to the given query. Developed by OpenAI, the tool gives you output based on your specific conversation. It is one of the best ai apps for iphone, Android, and computers.
One of the top AI trends that are ruling different domains of industries is Predictive Analysis. The trends use statistical algorithms, data, and machine learning techniques to identify patterns that can impact future behavior and help in decision-making. The technology helps identify risks in opportunities and allows businesses to achieve desired results.
Large Language Models
Though the LLM AI trend is not much explored by businesses yet, it indicates recent advances that are made in the area of deep learning. It is a trained deep-learning model that produces human-like text. Due to the technical specifications and prerequisites, it is not viable to run this model on a single computer and that’s something that restricts businesses to explore it.
Also known as speech-to-text, speech recognition is a program that processes human speech and generates written text. Advanced speech recognition application utilizes artificial intelligence and machine learning technologies to deliver accurate output. Different computational techniques and algorithms are used to improve transcription accuracy.
The AI technology analyzes patterns in a conversation and utilizes it to address customer questions. Virtual Agents are conversational chatbots that use a combination of natural language processing and artificial intelligence to deliver the right output. When visiting websites, the bot that appears to welcome visitors is the perfect example of intelligent virtual agents.
Biometrics technology is used in many small businesses and large organizations to track employee attendance. The log-in and log-out hours of the management and junior employees can easily be recorded using biometrics technology. It compares your fingerprints or facial contours to recognize your identity.
Machine Learning abbreviated as ML is the branch of artificial intelligence that focuses majorly on the use of algorithms and data to imitate the methods of human learning. The technology drives decision-making and impacts key growth metrics. Machine learning technology is further divided into three subsections – supervised ML, unsupervised ML, and semi-supervised ML.
Robotic Process Automation
RPA is a technology that streamlines workflows to make businesses more productive and profitable. The technology automates repetitive tasks and is highly utilized in major sectors of the economy such as banking, insurance, information technology, and travel, to name a few. The lower-value operations are handled by software bots to boost productivity.
Deep learning technology is another significant branch of artificial intelligence that instructs computers to work as humans. The technology is rapidly evolving and is used by many businesses across the world. One of the best examples of deep learning technology is driverless cars which are considered to be an evolution in the automobile industry.
Natural Language Processing
Natural Language Processing is a technology that uses text analytics to determine sentence structure and its interpretation. The technology helps AI and ML to understand human language and is used in fraud detection in banking and other industries. Businesses use NLP technology to analyze huge volumes of text data.
The terms voice recognition and speech recognition are used interchangeably, but they are different. It is a technology where the voice is used to recognize the identity of a person. The software applications are trained to determine the voice phrases of the person. Voiceprints are used to identify a person which enhances security in many different ways.
The process of identifying an object in an image is known as image recognition. The technology helps to process images faster and results in speeding up various tedious tasks. The key drivers in image recognition technology include image classification, visual inspection, automated driving, and robotics.
So, these are some of the artificial intelligence technologies that are revolutionizing and will continue to innovate businesses in different ways. These AI trends allow businesses to automate tasks as well as streamline decision-making. For business organizations, exploring AI technologies and trends is important to stay competitive.