According to the recent study, the global artificial intelligence market is expected to grow from USD 419.7 Million in 2014 to USD 5.05 Billion by 2020, at a CAGR of 53.65% from 2015 to 2020.
Let us look at 5 key trends that stand in 2018
Impact in almost every industry
Artificial Intelligence has been a rage since 2016. Globally renowned companies have been incorporating AI into their systems aiming to tap new audiences and attract more business. In the next decade AI will definitely have a major impact in almost every industry.
AI enhances the role of search for the consumer
It is no doubt that AI is expected to bring massive shifts in how we perceive and interact with technology. Search is becoming increasingly predictive, by constantly providing attuned recommendation throughout the consumer journey to drive better conversation. Starting 2018, search engines will start factoring additional data and Artificial Intelligence technology like Deep Learning will being using this data to provide more powerful and impactful predictive search. With considerable experience and expertise in deep learning, we have also helped built chabots which is more predictive and effective.
Razor sharp delivery of trending content
In the recent years, there has been an explosion in the amount of consumer data that is hitting the marketers. This data is now used to deliver sharp content at a speed which is powered by AI technologies. In this case – Machine Learning helps to streamline the process by quickly identifying patterns. This helps not only the marketers but also the consumers to stay ahead of the curve especially in the retail industry.
Rigours and non-stop data collection from the user
The Passive User Interface, on a continuous basis, collects behavioural data from consumers’ digital devices and journey by applying machine learning techniques that provides brands with powerful insights than can be used to customise consumer experiences. Greater use of user data will enable brands to design personalised content and services and to set appropriate pricing strategies. This also helps in improving the customer experience across categories. Here is one recommended article which talks on how UI follows the UX.
Automated brand conversations
Machine learning and deep learning technologies, also helps brands and marketers to shoot automated brand conversations. Brands have sufficient amount of user data. This specific application of AI links individuals to their devices and helps brands to understand how consumer engagements and brand actions can be attributed. Brands can then automate their conversations with consumers using cross-device programmatic advertising. This will really help to create seamless experiences, and to accelerate sales.
Machine Learning – Most important AI Technology
All we know is that Machine learning and Deep learning is the most important AI technology to look forward. At Accel North America, Our technology services team designs, architects and develops defined set of applications on by leveraging various big data platform for managing the vast stores of unstructured data. Additionally, the final data, after being processed based on custom business logic was then interfaced with a host of applications for user-friendly views of the processed data.
To conclude – 2017 has already seen major players like Google and Tesla make huge strides towards making self-driving cars a commercial mass product. AI and machine learning increasingly will be embedded into everyday things such as appliances, wearable tech, furniture, industrial equipment etc.