Heard about the self-driving cars? Self-driving cars are the results of Artificial Intelligence. Artificial Intelligence (AI) refers to ‘simulation of human intelligence in machines’ that have been programmed to think like humans and re-enact their actions. Artificial Intelligence allows machines to learn from experience, adjust to new inputs and perform tasks. AI rely heavily on deep learning and natural language processing to process large amounts of data and identifying patterns.
Artificial Intelligence has existed since the 1950s, beginning with programming computers and problem solving. Gradually, the idea of artificially intelligent personal assistants came into existence by the 2000s. Nowadays, Siri, Alexa, Cortana have become household names. Artificial Intelligence is not only about robots or human-like machines. It simply refers to machines mimicking and executing human tasks. Its goals include learning, reasoning and perception. And AI is continuously evolving, spreading over various disciplines, such as, computer science, defence strategies, mathematics, economics, linguistics, and so forth.
Let us look at a few important roles played by AI-
- Artificial Intelligence analyses big data;
- AI achieves accuracy through deep neutral networks;
- AI adds intelligence to existing products like security intelligence or investment analysis;
- AI uses progressive learning algorithms;
- Applications of AI are endless.
Artificial Intelligence is used in healthcare (medical applications), retail (inventory management, customer preferences), banking, manufacturing and so forth. In the healthcare industry, Artificial Intelligence is used for surgical procedures, drug dosage and other treatments for patients. In banking, AI can be used to flag unusual activities and frauds.
Artificial Intelligence can be categorized into weak and strong. Weak AI refers to a system that can execute particular jobs, such as video games or automated personal assistants. Strong AI executes multiples tasks and are more complicated systems.
Artificial Intelligence has evolved to become more complicated as well. It can used to hack people’s privacy or cause damages, such as for self-driving cars. Another concern is loss of employment due to artificial intelligence.
Global Market Estimates and Consultants releases Artificial Intelligence Reports regularly. Some of their reports include:
- Contact Center Software Market Insights: The global contact center software market is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the contact center software market is anticipated to increase with the Increasing demand for the automation of contact center solutions, growing emphasis on enhancing customer experience through Omni channel solutions and surging adoption of cloud-based contact centers among others.
- Smart Manufacturing Platform Market Insights: The report talks about the global smart manufacturing platform market. It is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the smart manufacturing platform market is anticipated to increase due to increasing need for streamlined and automated data to enhance productivity, support from governments for industrial automation and growth in industrial automation among others.
- 3D Sensor Market Insights: The global 3D Sensor market is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the 3D Sensor market is anticipated to increase with the growing demand in pharmaceutical sector, increasing R&D expenditure by various manufacturing companies and used for various end use application among others.
- Artificial Intelligence in IoT Market Insights: The global AI in IoT market is estimated to witness a significant CAGR during the forecast period (2019-2026). Growing need for the effective management of data generated from IoT devices, streamlining production processes, and reducing downtime are some of the major factors likely to propel the market growth during the forecast period. Rising government spending on innovative technologies are also expected to boost the market growth during the forecast period.
- IoT in Construction Market Insights: The global IoT in construction market is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the IoT in construction market is anticipated to increase with the growing construction industry due to rapid urbanization in developing countries, industry 4.0 driving the need for digital construction and increasing productivity and safety due to the use of IoT on the construction site among others.
- Digital Identity Solutions Market Insights: The global digital identity solutions market is estimated to witness a significant CAGR during the forecast period (2019-2026). The growth of the digital identity solutions market is anticipated to increase due to rising identity and authentication frauds, integration of biometrics in smartphones and increased focus to enhance end to end customer experience among others.