Artificial Intelligence is finally moving beyond a hype. AI is not just one technology, but a collection of many technologies and computing capabilities. Here are five technology components of AI that will gain momentum in terms of adoption and application across the Industries globally.
- Natural Language Processing
Virtual agents like Chatbots and voice platforms like Google Assistant and Amazon Alexa are going to rule the customer service world. Their ability to process natural language interactions and respond to them human-like will make this technology a hotbed for building innovative applications and agents. Agents capable of human-like conversations are going to be an integral component of customer service applications of both B2B and B2C enterprises.
- Machine Learning and Deep Learning
Machine Learning and Deep Learning are in simple terms technologies, algorithms and techniques that can make systems learn from data and develop intelligence. The complexity of these algorithms and techniques can vary from simple decision tree logic to deep neural network based learning. Machine learned models are widely in use for many use cases like churn scoring or for anomaly detection as in fraud detection. These models are going to get more sophisticated with the adoption of more and more advanced algorithms and techniques.
- Decisioning Systems
This technology is not new; however it was mostly simple rule-based decision making which was widely in use in many of the enterprise applications. Now it is becoming more intelligent thanks to advancements in AI and ML techniques that are being applied. With this decision making will be much faster and more sophisticated. Naturally it will lead to intelligent automation.
This is perhaps the most visible technology that will come to forefront of AI revolution. Ability to process sensations of touch, vision, smell etc. can literally transform the world how users are identified and authenticated in digital world. There will be mass adoption of these technologies in consumer facing applications especially in the AR/VR bundled devices for infotainment.
- Robotic Process Automation
This may not be strictly AI technology component, but this is a technology that is definitely enabled by AI. Without cognitive intelligence, RPA cannot add significant value. However with built in AI/ML enabled intelligence RPA can significantly impact bottom line automating many of the rudimentary, repetitive tasks which doesn’t need to many complex decisions to be made processing large number of variables and conditions.