Artificial intelligence was the buzzword of 2016. AI has left its footprint on a myriad of segment — be it top-notch ecommerce and OEMs players to grabbing the attention of investors, Artificial Intelligence has been a domineering force of the market, and it is just the beginning, 2017 will witness the AI energy in full bloom. Artificial intelligence is primarily used to look for patterns in the past to predict future behavior.
2016 had been just at the tip of the iceberg called AI, since this sector offers promising opportunities. The sector is moving on to its next phase in the commercial market, and top-notch performance is expected at a greater scale. The sector players in this specific domain are toiling hard to replace human intelligence — leading to more intuitive solutions, which are personalized and conceptualize in real-time.
AI has been a predominant force in the fashion ecommerce industry. However, with so many ready takers and an economy-wide need for smarter, intuitive and intelligent processes, Artificial Intelligence is going to make its presence felt across a majority of industry verticals.
Forrester, known for its survey of business and technology professionals, discovered that 58% of them are researching AI, but a mere 12% are using AI systems. The consequences are under the radar because applied AI applications are only now starting to be realized, but it’s also because right now AI is hard. AI systems demand specialized skills and a develop-it-yourself attitude.
Frameworks such as Facebook’s Wit.ai and Howdy’s Slack bot are in the competitive race to convert them into Visual Basic of AI, ensuring the point-and-click development of intelligent conversational interfaces to relatively unsophisticated developers. Tools like Bonsai, Keras, and TensorFlow helps in streamlining of deep learning models. Cloud platforms like Google’s APIs and Microsoft Azure enable the formation of intelligent apps without any glitches in setting up and maintaining accompanying infrastructure.
Up until today, we have observed maximum of its adoption in the Fashion Ecommerce domain. Since now there is a greater demand for a wholesome intelligent process, AI is going to be popular across major verticals.
The initial adoption process can begin with Financial Technology players and Healthcare sector. The FinTech sector is on its toes now, thanks to the demonetization drive by the Indian Government. The growing need to focus on e-KYC and convert the documentation process from real to virtual quick, AI is the way to go.
Healthcare is another sector that can tap the potential of AI. Medical Imaging, as a technology enabled by Artificial Intelligence open doors to a lot of healthcare innovations, simultaneously, it will also bridge the gaps of geographical distances, ensuring the best of healthcare services is made available to all and sundry.
Though there are concerns over the demerits of AI domination. It might lead to an outburst — taking manual jobs and more robotic experiences in future, but we fervently hope that the effect will be more deeper and nuanced.
The expectation on the large and grandiose AI systems is not sharp yet, but let us not forget the anticipation to explosion in specific, highly targeted AI systems, such as:
- Robotics: personal, industrial, and retail
- Autonomous vehicles (cars, drones, etc.)
- Bots: CRM, consumer (such as Amazon Echo), and personal assistants
- Industry-specific AI for finance, health, security, and retail
