Nowadays, when you ask people about AI (Artificial Intelligence), they will start picturing some science fictioninspired images of the machine-dominant futures. After all, we all are influenced by Hollywood movies like Robot, Interstellar, and more. For them, AI is just a concept, but in reality, AI has already become part of our lives. We are using AI every day. For example, Alexa or Siri, you know the capabilities, right? But this isn’t the end of AI. Today, AI has made business more efficient. Let’s deep dive to know about it.
HERE ARE THE FIVE EXCITING AI BUSINESS DEVELOPMENT
FACIAL EXPRESSION DECODING
In our daily life interactions, we use tons of nonverbal cues, including facial expressions, intonations, gestures, and posture, to convey our emotions and feelings. For us, it has always been an easy task to decode people’s emotions and understand what individuals are trying to say. But intelligence technology can do the same now. According to nature. com, Researchers have used an ML Algorithm to decipher the seemingly inscrutable facial expressions of laboratory mice. While companies like Emotient and Affectiva are developing AI algorithms to read and decode people’s faces. Imagine being able to read your customer’s feelings as they use your product or service. Or Being able to target ads to individuals when they make a sad or angry face. This will be the future of the business to consumers interaction.
VIRTUAL ASSISTANT
Increasing popularity in the business world has pushed the AI Virtual assistant toward rapid innovation and development. As employees and employers struggle to effectively work remotely. While giant tech companies are giving their efforts toward a multitude of changes in AI assistants. In its digital assistant and AI voice assistant forecast for 2016 to 2021, by 2021, approximately 47.6% of AI virtual capable devices are estimated to be used in Asia and Oceania, as per Ovum. The Virtual assistant like Amy or x.ai has been seen as the most exciting and beneficial for entrepreneurs. Amy is an AI voice assistant that’s not just schedules meetings but also interacts with your contacts like a human. The AI virtual assistant is a fantastic innovation, it is saving many hours in a week.
DEEP LEARNING
Deep learning is merely part of machine learning in AI in which a device can learn to improve on its own by examining computer algorithms. This AI function imitates the workings of the human brain in processing data for use in detecting objects, identifying speech, translating language, and giving results as per making a decision on its own. A most interesting fact is, Deep learning doesn’t need human supervision. Imagine, what can possibly you do with it in your business? You don’t need a translator to communicate with foreign business clients, it can be used to determine which ads to display to your customers in real-time, you will have a self-driving car, and many more you can do with it.
HEALTH MONITORS
As per OECD estimates, 20% of health expenditure is wasted worldwide. The United States Institute of medicine made research the figure is more like 30%. Using both estimates, the top 15 countries by healthcare spend waste an average of between $1,100 (Approximately 80482.05 INR) and $1,700 (Approximately 124381.35 INR) pp/annum. That’s why many multinational `tech and start-ups are making more efforts to make the CEO of your own health as well as reduce the prices of healthcare. There are many ways AI can empower in the medical sector, such as Guiding treatment choice, clinical trials optimization, and drug development, empowering the patient. On the other hand, many AI devices are being developed, so that you can manage your health by yourself and, in some cases, you can replace doctors and hospitals, with the combination of AI and personal smart monitors
BUSINESS FORECASTING
AI-based devices are increasingly being to fill the gap between quantitative and quotatives analysis of marketing prospects. It has emerged that holds considerable promise in helping, to improve the forecasting process, including understanding the customer pattern demands, employee’s turnover, distribution requirement, cash flow, and many. Overall, AI-based application helps make business forecasting both automatic and accurate.
