Artificial Intelligence technology market is constantly flourishing. Beyond the heightened media attention and the hype itself, the internet giants and numerous startups are racing towards acquiring this technology. For this reason, there is a significant adoption and investment by these enterprises. Over 38 percent of startup enterprises, according to the recent Science Survey conducted in the United States, are all using artificial Intelligence. It is also expected to grow to over 68 percent by the end of 2018. According to another prediction by Forester Research, over 300 percent increase in artificial intelligence investment is expected by the end of 2017. The company also went ahead to estimate that the Artificial Intelligence market is supposed to grow from the current $8 billion investment to over $47 billion by the end of 2020.
Artificial Intelligence was coined in 1955 to describe the new sub-discipline in the computer. In the modern world, it includes a variety of new tools and technologies. The TechRadar report was published by the Forrester Research Foundation about the professional development applications of Artificial Intelligence. This is one of the most detailed analyses for the 13 technologies used to make human decisions.
Based on this analysis, let’s look at the list of the hottest Artificial Intelligence technologies.
1. Speech Recognition
this is one of the most advanced AI application. Transform and transcribe human speech into the most useful form of computer applications. It is also used in the mobile applications and the interactive voice systems. Artificial Intelligence vendors under this category include OpenText, Nuance Communications, NICE, and Verint Systems.
2. Natural Language Generation
You can use this technology to predict text from computer information. It is also employed in customer service summarizing the intelligence insights for businesses and report generation. The vendors under this category of Artificial Intelligence includes Digital Reasoning, Attivio, Cambridge Semantics, and Automated Insights.
3. Machine Learning Platforms
The machine learning platforms provide APIs, algorithms, training and development toolkits. For this reason, the computer will have the power to train, design, and deploy application models to process other machine language products. The company has a wide range of applications that involve classification and prediction.
4. Virtual agents
This is the latest technology employed by the media and television companies. This is the biggest network of social media platforms that allow you to chat and interact. The Artificial Intelligence platform is used in the customer support and service for the smart home managers.
5. Decision management
These are engines that insert logic and rules into the Artificial Intelligence systems. They are also used for initial ongoing and training setup. This mature technology is also utilized in a wide range of business applications. It is also used to assist in the ongoing tuning and maintenance of computers in a company. Artificial Intelligence, in this sector, is used for the performance of automated decision-making platforms.
6. Al-optimized Hardware
The Graphics Processing Unit Artificial Intelligence systems are used together with appliances to architect and design the AI-oriented job opportunities. They are also used in deep learning.
Artificial Intelligence has many business benefits. However, there are many obstacles affecting the adoption of Artificial Intelligence in companies.