The artificial intelligence (AI) technologies market is booming.
Everyone’s talking about how artificial intelligence is radically changing multiple aspects of our daily lives.
Naturally, companies don’t want to fall behind, and many have decided to invest in AI to boost their businesses.
According to a Narrative Science report, just 38% percent of the companies surveys used artificial intelligence in 2016—but by 2018, this percentage will increase to 62%.
Another study performed by Forrester Research predicted an increase of 300% in investment in AI this year (2017), compared to last year.
But that’s not all, IDC estimated the artificial intelligence market will grow from $8 billion dollars to more than $47 billion by 2020.
So, the question you should be asking yourself is: are you prepared to incorporate artificial intelligence into your business?
So here are the 10 most revolutionary artificial intelligence technologies that will rule 2017, according to Forrester’s TechRadar report.
1. Natural Language Generation
Natural language generation is an artificial intelligence sub-discipline that converts data into text.
This enables computers to communicate ideas with perfect accuracy.
It is currently being used in customer service to generate reports and market summaries.
Some of the services providers and suppliers offering these services include Attivio, Automated Insights, Cambridge Semantics, Digital Reasoning, Lucidworks, Narrative Science, SAS and Yseop.
2. Speech recognition
Siri is not the only system that understands you.
Every day, more and more systems incorporate the transcription and transformation of human language into useful formats suitable for computers.
Speech recognition is currently being implemented into voice-response interactive systems and mobile apps.
Companies offering speech recognition services include NICE, Nuance Communications, OpenText and Verint Systems.
3. Virtual Agents
A virtual agent is nothing more than a computer agent or program capable of interacting with humans.
The most common example of this kind of technology are chatbots.
Virtual agents are currently being used for customer service and support and as smart home managers.
Some of the companies that provide virtual agents include Amazon, Apple, Artificial Solutions, Assist AI, Creative Virtual, Google, IBM, IPsoft, Microsoft and Satisfi.
4. Machine Learning Platforms
These days, computers can also learn, and they can be incredibly intelligent!
Machine learning is a subdiscipline of computer science and a branch of artificial intelligence. Its goal is to develop techniques that allow computers to learn.
By providing algorithms, APIs (application programming interface), development and training tools, big data, applications and other machines, machine learning platforms are gaining more and more traction every day.
They're currently being used in diverse business activities, mainly for prediction or classification.
Some of the companies selling machine learning platforms include Amazon, Fractal Analytics, Google, Adext, H2O.ai, Microsoft, SAS and Skytree.
Let's talk about one of these—Adext—more specifically, and look at how it works.
This intelligent platform analyzes big data from advertising campaigns around the globe.
Well, in order to shape and assemble the data using intelligent algorithms.
It then identifies successful patterns and learns from them so it can mimic them later.
How is this useful?
Because it can then make smart investment decisions in digital media for you.
With its artificial intelligence technologies, the platform is able to learn which digital media are generating more sales for you with the most accurate precision.
It can then redirect more of your investment towards that media.
Sounds interesting, right?
5. AI-Optimized Hardware
There is no other option.
Hardware needs to become friendlier thanks to the addition of artificial intelligence technologies.
And what does that mean?
New graphic and central processing units and processing devices specifically designed and structured to execute AI oriented tasks.
Some of the services providers and suppliers of these types of technologies include Alluviate, Cray, Google, IBM, Intel and Nvidia.
6. Decision Management
Intelligent machines are capable of introducing rules and logic to artificial intelligence systems and can be used for initial setup/training, ongoing maintenance and tuning.
Decision management has already been incorporated into a variety of corporate applications (like Adext, discussed above) to assist and execute automated decision making.
This intelligent robot is in charge of making the smartest investment decisions so your business is as profitable as possible.
Some services providers and suppliers of decision management technologies include Advanced Systems Concepts, Informatica, Maana, Pegasystems and UiPath.
7. Deep Learning Platforms
Deep learning platforms use a special form of machine learning involving artificial neural circuits with various abstraction layers.
This technology mimics the human brain, processing data and creating patterns to use for decision making.
It is currently mainly being used to recognize patterns and classify applications that are only compatible with large-scale data sets.
Deep learning platform services providers and suppliers include Deep Instinct, Ersatz Labs, Fluid AI, MathWorks, Adext, Peltarion, Saffron Technology and Sentient Technologies.
This technology deals with the identification, measurement and analysis of physical aspects of the body’s structure and form and human behavior.
It allows more natural interactions between humans and machines, including interactions related to touch, image, speech and body language recognition.
This technology is currently mostly being used for market research.
Suppliers of this technologies include 3VR, Affectiva, Agnitio, FaceFirst, Sensory, Synqera and Tahzoo.
9. Robotic Processes Automation
Robotic processes automation is possible thanks to scripts and methods that mimic and automate human tasks to support corporate processes.
It is now being used in special situations where it's too expensive or inefficient to hire humans for a specific job or task.
We need to remember artificial intelligence is not meant to replace humans, but to complement their abilities and reinforce human talent.
An example is Adext, a platform that automates marketing and sales processes through artificial intelligence technologies, saving businesses from devoting hours to mechanical and repetitive tasks.
That way, you can exploit your human talent, move employees into more strategic and creative positions, so their actions can really make an impact on the company's growth.
Some examples of robotic processes automation services providers and suppliers include Advanced Systems Concepts, Automation Anywhere, Blue Prism, UiPath and WorkFusion.
10. Text Analytics & NLP (Natural Language Processing)
This technology uses text analytics to understand the structure of sentences, as well as their meaning and intention, through statistical methods and machine learning.
Text analytics and NLP are currently being used for security systems and fraud detection.
They are also being use by a huge array of automated assistants and apps to extract unstructured data.
Some of the services providers and suppliers of these technologies include Basis Technology, Coveo, Expert System, Indico, Knime, Lexalytics, Linguamatics, Mindbreeze, Sinequa, Stratifyd and Synapsify.
So, what are your thoughts on these technologies?
Most of them are having a huge impact on business operations at companies around the world.
I know what you're thinking: artificial intelligence is only available for big companies that can afford it.
But that's not true anymore… Not at all.
Digital tools like Adext were developed specifically for SMBs that want to have a significant presence on the Internet and compete with the big business.
Now that you know this, it’s time to take the next step.
I would advise you to take that step before your competitors do!
Being at the forefront doesn’t just mean making clever decisions, it means adapting to the latest technologies.
So, get ready to boost your business today!