Three groundbreaking AI advances taking shape in 2018

 

For most, if not all IT consulting companies that constantly monitor the market, it is AI technology that scores the most points with its dynamic and powerful capabilities that work in any situation.

There has been a significant increase in adoption and investment by enterprises. This has been supported by a survey that found AI usage by enterprises almost doubled to62% this year compared to the same period last year which was at 38%.

Research group Forrester also predicted that an increase in investments was seen for AI that grew by around 300% compared to the last couple of years.

AI-powered technology has become the go-to indicator for growth trends and here are a few examples of the technology trendsetters that can be evaluated for adoption.

Virtual Agents and Chatbots
Either as simple chatbots or advanced AI systems with agile networking capabilities. Virtual agents and chatbots have become disruptors that are aimed to simulate human behavior for website visitors who engage in interaction with virtual assistants or chatbots.

These state of the art support channels can guarantee you with better and enhanced support solutions, while at the same time enhance the customer experience.

AI

The popularity of chatbots reflected in how it has been presenting itself to consumers, albeit unconsciously because most consumers are not aware that these are AI-powered tools that are programmed to interact with customers.

As of this year, only 15% of Americans believe they have encountered a chatbot when interacting with a company during the last 12 months.

Speech Recognition
This AI-driven platform can transcribe and translate speech into a computer-language format for use by computer applications. These platforms are commonly used by interactive voice response (IVR) systems and mobile apps/software.

According to Statista, growth revenues for speech recognition technologies is valued at $380.9 million and is expected to increase exponentially to $1.5 billion by 2024.

Natural Language Generation
This is one of today’s cutting-edge customer service applications that generates text from computer data. It is commonly associated with summarizing business intelligence reports and report generation processes.

Studies have shown that NLG has accelerated content marketing with revenue growth of 14.4% CAGR.

According to Gartner, it is estimated that NLG is expected to become a standard feature in 90% of current business intelligence platforms and IT solution options.

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