Artificial intelligence is a buzz word that is at the top of the hype cycle. Artificial intelligence is the next big thing that has a huge impact on various sectors. Artificial intelligence has improved significantly over the past few years. Startups are using artificial intelligence algorithms to the latest trends in the market and make faster decisions.
But first whats is Artificial intelligence?
Artificial intelligence is the branch of computer science that deals with making intelligent machines. Artificial intelligence machines can perform tasks that would otherwise require human intelligence. Artificial intelligent machines have the capability of reasoning, problem solving, perception and decision making. Example being Apple’s Siri, Tesla’s Self-driving cars, Facebook face recognition system and many more.
Now, let us discuss various emerging trends of artificial intelligence applications for startups:
Businesses are now becoming more comfortable with the use of artificial intelligence applications in business. One of the most emerging trends of AI that has taken businesses by the storm is the introduction of Chatbots in the business. Chatbots are gaining more relevance with the popularity of messengers apps like Facebook and Wechat. The business application of chatbot lies in the customer support service. A chatbot is a computer program that runs online and is able to communicate with humans. Chatbots can simulate human conversion. They can interpret the queries asked by their clients and answer to the questions of the clients.
Artificial intelligence is E-Commerce
The E-commerce sector has seen a boom in the past few years. Use of artificial intelligence in E-commerce is improving the user experience further. E-Commerce giants like Amazon, Alibaba are using artificial intelligence to provide a better user experience. Machine learning algorithms can predict the behavior of the user and recommend the products in which the user was interested. The recommendation system helps in leveraging the user experience to a great extent. E-Commerce has gained a lot from artificial intelligence and further research will definitely take the user experience to a new level.
Improve Business operations
Businesses have to deal with a lot of operations every day. To manage these operations effectively, they are using software solutions that are helping them to some extent. Artificial intelligence systems provide better and improved solutions to daily business operations. Managers can handle the process by keeping track of every minute detail about the operations like deadlines, task assignments, fixing appointments etc. This helps in better time management in any business and the communication gap is also reduced.
AI in Healthcare
Healthcare is one of the most crucial sectors. Artificial intelligence applications have made many improvements in the healthcare sector and is going to completely revolutionize it in the upcoming years. The medical industry is generating tons of data every day. Handling that amount of data is not possible for humans. Artificial intelligence is making its hands dirty in doing this task for humans and providing useful data insight. Artificial intelligence has also helped doctors in patient diagnosis, patient monitoring and medicinal research.
Artificial intelligence has also improved cybersecurity to a great extent. As more and more businesses are going online in their operations, data storage and monetary transactions cyber criminals and hackers are looking at this as an opportunity. Any security breach can lead to data theft of businesses as well as the users. This not only exposes the strategies of the business to the competitors but also harms the brand reputation. Artificial intelligence systems help in building more secure and bug-free security systems. Any potential threats is detected at an early stage and the concerned authorities are alarmed well before time. This prevents further damage and data is more protected and secure.
Sports Result Prediction
Artificial intelligence as a service has also helped in predicting the results of the sports. The sports result prediction is based upon various dependent and independent factors like winning pattern of the team, form of the players, home ground advantage and many more. Machine learning and deep learning algorithms are able to predict the gaming results than humans. This is helping the coaches, trainers and teams in improving their game and winning chances against the odds. Sports betting industry is also benefitted for artificial intelligence applications. They can predict the gaming results more accurately and earn maximum profit.
AI in marketing and advertisement
Artificial intelligence has improved the marketing and advertising strategies of the businesses. The advertisement has become more relevant and targeted. AI and machine learning algorithms can predict the behavior of the user from his past searches, likes dislike, buying patterns and followings over the social media. This makes the advertisement campaign more effective. You can also create content within a few minutes with apps like AI Wordsmith. Thus, artificial intelligence is playing a vital role in the marketing and advertisement industry.
AI in Retail
Artificial intelligence is helping the retail industry by predicting the preferences, spending habits and channel for the particular customer. Retailers can get a proper insight of the customer behavior in the mall. They can place sensors over the shelves that can tell which product was picked up most of the time and put back by the client. Study of facial expressions can give an insight of whether the product is liked by customer or not. It also helps in automating the supply chain for the retailers.
The latest trends in artificial intelligence have indicated that it is here to stay for long. Artificial intelligence applications are helping businesses to grow. Artificial intelligence is helping businesses in every operation. Be it manufacturing, marketing or supply chain. Big businesses are heavily investing in artificial intelligence research and AI too is proving its worth. In the upcoming future, we will be witnessing more artificial intelligence applications in businesses.
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