AI (Artificial Intelligence) has made everyone’s lives easier with smart home devices seeing penetration into 57% US households by 2025. This has been paving a way for faster economic growth with research on use cases estimating generation of $4.4 trillion approx. in economic benefits across industries.
What is Artificial Intelligence? | Nitor Infotech
Learn about the three biggest artificial intelligence trends, why AI is important, and how gen AI works across industries. Read more. Nitor Infotech | USA | India
What are the 3 biggest Artificial intelligence [AI] trends?
AI’s impact has been tremendous in our lives from chatbots, to requesting virtual assistants to remind tasks or pay bills, self-driving cars, and even industrial machines that are fully automated.
Today advanced algorithms help make rippling changes and impact even organizational spending on AI. Here are the top 3 trends that are set to shape the future:
01
AI for Each one
AI is set to go full steam ahead, with most apps adding AI as a bonus feature to help users auto compose mails or
create well-rounded reports with a single click, or even Build-your-own (BYO) AI apps with no/ low code.
02
Generative AI
This is a technology that is sure to augment and not eliminate human activity.
Leveraging GenAI (Generative AI) in pragmatic areas like understanding the market, identifying relevant use cases, and implementing them can help enhance productivity and improve top-line.
03
Custobots
As Gartner’s report calls them, are machine customers who will purchase goods and services on one’s behalf.
They will function like a spokesperson for an organization, dealing with pricing negotiations, or a bot employed by a customer to complete their shopping errands.
These artificial intelligence trends highlight the possibility of driving a wave of disruption, transforming the way work and transact.
artificial intelligence Insights
Why is Artificial Intelligence important?
Artificial Intelligence technology is leading the way for the next industrial revolution. With the ever-increasing amount of data being produced by IT systems,
IoT devices as well as user devices, traditional methods of managing structured and unstructured data are proving to be inadequate.
To replace it by leveraging the immense computational abilities of a machine, a widespread, Artificial Intelligence (AI)-driven boom in growth is restructuring businesses as we know it today.
While early adopters have already reaped the benefits of AI and ML technology, the rest of the economy is not far behind; according to The Economist, 75% of executives believe that organizations will actively implement AI and machine learning (ML) within the next 3 years.
According to a forecast, the global AI market is expected to grow to about a $126 Billion industry by 2025. The mushrooming of artificial intelligence companies all around the world makes this paradigm shift in the business world fairly evident.
Learn how you can make your porducts more effiicient and futurisitic with Artificial Intelligence.
How does GenAI operate in various industries?
GenAI has the capability to automate and improve various facets of your product, spanning from customer services to software development and data analytics.
- Healthcare: AI can be used for medical image analysis, diagnosis, and personalized medicine. Predictive analytics can help identify potential health issues and trends.
- Agriculture: AI can optimize crop yields through precision farming. Drones equipped with AI can monitor and assess crop health.
- Manufacturing: AI can optimize production processes and predict equipment failures. Robotics with AI capabilities can be used for automation in manufacturing.
- Marketing: AI can analyze consumer behavior and preferences for targeted marketing. Chatbots can be used for customer interaction and support.
- Finance: AI algorithms can analyze financial data for fraud detection and risk management. Chatbots and virtual assistants powered by AI can enhance customer service in banking.
- Retail: AI-driven recommendation systems can enhance customer experience. Inventory management and demand forecasting can be improved using AI.
Foster innovation and optimize your product by leveraging GenAI.
GenAI has tremendous power to transform products across industries and boost overall productivity. Read our factsheet that sheds light on our generative AI prowess.
