Software Engineering Insights

The ever growing interest of businesses and the market hype for Artificial Intelligence (AI) is making it one of the predominant element of tech-industry. AI, essentially is a broad term that defines the ability of machines to exhibit human intelligence. While real-AI is a near future, the current AI technologies are still offering a level playing field to almost every industry today, including healthcare, manufacturing, transportation, and many others.

Artificial Intelligence (AI) remained the driving force of various industries in 2017. With so many tech giants and startups already delving into the AI ecosystem, it is expected to grow with better use cases in the year 2018. Considering the acceptance, development, and applications of AI, here we are with significant opportunities and perils that this ingenious technology will put forth in 2018.

“People-to-people conversations, people-to-digital assistants, people-to-bots and even digital assistants-to-bots. That’s the world you’re going to get to see in the years to come.” -Satya Nadella

Bots have become an imperative part of businesses. From rendering anytime support to augmenting human productivity, chatbots are giving businesses some sure reasons to have them as a part of customer service management.

Artificial Intelligence (AI), is a discipline which dates back to 1956. During a workshop held at Dartmouth College campus (USA), the MIT cognitive scientist, Marvin Minsky, said, "Within a generation... the problem of creating "artificial intelligence" will substantially be solved."

AI is a term that’s now, to some extent, in everyone’s thoughts and on everyone’s lips. Some see its evolution as a benefit – perhaps in terms of analyzing enormous amounts of data to help medical science develop cures for cancer. Others see AI as a threat – to their jobs, their lifestyle, their communities and way of life.

Mentioned below are some thoughts from acclaimed tech giants about AI and how it's shaping our future AI application development.

Can you imagine a mobile app automating and controlling a number of tasks for the users, without being explicitly programmed for it. Well, that might sound fanatic, but it’s a practicable model today. Thanks to Machine Learning!

Machine Learning (ML) is subset of Artificial Intelligence (AI) that analyses a set of data, builds an analytical model, and then predicts accordingly. By implementing ML to mobile apps, businesses can ensure better experience to the existing and anticipated users.

Machine Learning (ML) has turned out to be one of the profound applications of Artificial Intelligence (AI). From Virtual Assistants to traffic predictions, ML is refining the way some of the conventional tasks are performed. With ML holding its strength in pattern recognition and cognitive learning, it has found its significance in intelligent application development.

By 2020, 85% of the consumer interactions will be supported without human interaction, predicts Gartner.

Today, chatbots are smartly handling the biggest problem of every industry, i.e. providing 100% customer assistance. Healthcare, finance, insurance, e-Commerce, logistics, sports, entertainment, leisure, travel, and almost every other industry is leveraging the pros of chatbot. While a lot of companies are already reaping the benefits of automated convo system, many are still contemplating over its adoption.

Healthcare is one of the world’s largest industries. Collectively, the size of the healthcare market is estimated to be between five trillion to six trillion dollars. As one of the examples for how large the healthcare industry is at global level, consider this: All spending on products and services concerning the heart (pharmaceuticals such as beta-blockers, cardiovascular surgery procedures etc) is greater than the entire automotive industry. Therefore, there is nothing to be surprised with the fact that both entrepreneurs and investors have traditionally looked at healthcare as a lucrative industry to invest in.