Can machines think?
From Google and Amazon to Apple and Microsoft, every major technology company is dedicating resources to breakthroughs in artificial intelligence. Personal assistants like Siri and Alexa have made AI a part of our daily lives. Meanwhile, revolutionary breakthroughs like self-driving cars may not be the norm but are certainly within reach.
What is Artificial intelligence (AI)?
Artificial intelligence (AI) is intelligence programmed into machines or computers, which includes machine learning, deep learning, and other subsets. It refers to the computer science category that seeks to mimic functions of human intelligence within computer systems. To people outside the world of computer science, this may sound threatening, as if human intelligence could be replaced by machines. But this is far from what AI is truly used for. It is used to improve our daily lives by making certain processes more efficient by allowing a computer to do fairly complicated tasks automatically or using machine learning algorithms to make market research more efficient.
Use AI on a daily basis
- Automatic language translation apps that can translate speech in one language into text in another language
- Search engines like Google use AI (algorithms like Rankbrain) to determine the most appropriate result for a search.
- Automated marketing emails use AI to figure out what emails to send based on how you’ve interacted with a business or website.
- Various types of online ads use AI to determine who should see a specific ad, based on past behavior, interests, and search queries.
- Chatbots are becoming more common in online messengers so that larger brands can assist customers immediately and efficiently.
- Voice searches on smart speakers or even smartphones use AI to determine the best result for those long-tail keywords and conversational queries.
How AI Works?
Artificial intelligence works by using algorithms along with constraints and other elements that help gear models toward thinking, perception, and action. AI can be powered by deep learning or machine learning, or it can be powered by simpler processes of rules. The most basic artificial intelligence isn’t as complicated as it sounds. It can be a computer programmed to behave in a certain way or give certain outputs based on certain rules.
What technologies actually use AI?
- Smart Assistant likes Alexa, Siri…..
- Healthcare uses human eye detection anomalies in X-rays, MRIs, and other medical imaging.
- Recommendation Engines like Netflix and Spotify …..
- Search Engines, Image and Facial recognition, and so on.
What is Machine Learning (ML)?
Machine learning (ML) is a type of artificial intelligence (AI) that allows software applications to become more accurate at predicting outcomes without being explicitly programmed to do so. Machine learning algorithms use historical data as input to predict new output values.
Recommendation engines are a common use case for machine learning. Other popular uses include fraud detection, spam filtering, malware threat detection, business process automation (BPA), and predictive maintenance.
TOP ARTIFICIAL INTELLIGENCE (AI) COMPANIES WITH $100M+ FUNDING
- Sift Science
Industry: Productivity, Writing
Location: San Francisco
What it does: Grammarly is an AI-enabled writing assistant that helps writers and communicators all over the world with spelling, grammar, and conciseness. The browser plugin checks over content being written in real-time and alerts for everything from spelling mistakes to tone errors and even scans content for plagiarism. Grammarly works across multiple platforms, including Gmail, Slack, Jira, Medium, and many more.
Location: Pleasanton, California
What it does: AEye builds the vision algorithms, software, and hardware that ultimately become the eyes of autonomous vehicles. Its LiDAR technology focuses on the most important information in a vehicle’s sightline such as people, other cars, and animals while putting less emphasis on things like the sky, buildings, and surrounding vegetation.
How Top MNC Companies Use Artificial Intelligence?
All the world’s tech giants from Alibaba to Amazon are in a race to become the world’s leaders in artificial intelligence (AI).
“AI doesn’t have to be evil to destroy humanity — if AI has a goal and humanity just happens to come in the way, it will destroy humanity as a matter of course without even thinking about it, no hard feelings.” — Elon Musk.
Not only is Amazon in the artificial intelligence game with its digital voice assistant, Alexa, but artificial intelligence is also part of many aspects of its business. Another innovative way Amazon uses artificial intelligence is to ship things to you before you even think about buying it. They collect a lot of data about each person’s buying habits and have such confidence in how the data they collect helps them recommend items to its customers and now predict what they need even before they need it by using predictive analytics. The stores have artificial intelligence technology that tracks what items you pick up and then automatically charges you for those items through the Amazon Go app on your phone. Since there is no checkout, you bring your own bags to fill up with items, and there are cameras watching your every move to identify every item you put in your bag to ultimately charge you for it.
How AI transformed Amazon into an eCommerce powerhouse
Amazon is an eCommerce powerhouse. In 2019, the giant retailer is expected to hit a 52% market share in the US and almost 14% worldwide.
With more than 100 million Alexa devices having been sold, Amazon’s smart speaker maintains a 70% market share in the US. In a statement in the last quarter of fiscal 2018, Jeff Bezos said Echo Dot was the best-selling item across all products on Amazon globally, and customers purchased millions of more devices from the Echo family compared to last year (source).
In 2018, Amazon developers improved Alexa’s ability to understand requests and answer questions by more than 20% through advances in machine learning. Also, the number of research scientists working on Alexa has more than doubled in the past year, Bezos noted.
One of the primary ways Facebook uses artificial intelligence and deep learning is to add structure to its unstructured data. They use DeepText, a text understanding engine, to automatically understand and interpret the content and emotional sentiment of the thousands of posts (in multiple languages) that its users publish every second. With DeepFace, the social media giant can automatically identify you in a photo that is shared on its platform. In fact, this technology is so good, it’s better at facial recognition than humans.
At the sidelines of the summit, it announced that 100 scholarships will be awarded to students and developers to nurture their ideas for utilizing AI for social good, training through Facebook Hubs and exclusive AI hackathons for women will be organized to increase development in the field of AI and ML.
According to data compiled by CB Insights, there have been a total of 635 artificial intelligence acquisitions between 2010 and September 2019. Those purchases also increased six times over from 2013 to 2018, with 166 acquisitions in 2018 alone — a 38 percent increase year over year. For companies like Apple, Google, and the rest, these purchases can almost always be linked back to a new product or feature.
AI Will Change Everything About Market Research
The Martech sector has experienced massive growth in the past several years, but over the same period, the market research industry has been in decline. Global revenue was down from a 2014 high of $46.1 billion to $45.8 billion in 2017.
Future in Artificial Intelligence
How the pandemic changed enterprise AI and ML
The COVID-19 pandemic has affected companies of every size and in every industry, but how has it changed artificial intelligence and machine learning specifically? Like any previous economic change, the pandemic has caused leadership to revisit their bottom lines, adjust strategy, and cut costs as needed, including AI and ML. To better understand the state of enterprise AI/ML during the pandemic, we surveyed 100+ large enterprise IT directors (and above) on AI/ML trends in their organization. Survey respondents were all involved with their organization’s current AI/ML initiatives, and organizations selected all work with at least $1 billion in annual sales and have 5,000 or more employees.