AI is one of the most desired technology for almost every business. The applications of AI are tremendous and are the key to the solutions to many problems of almost every sector.
$390.9 billion is the expected market size of AI by 2025.
AI technology is a pool of numerous opportunities, infinite applications and worth mentioning, an ocean of innovations and life-changing devices and technologies that are waiting for us in the future.
To date, revolutionary milestones have been achieved in the field of AI, which is overwhelmingly accepted across the continents.
Numerous fascinating AI-derived technologies are in the latest demands. The hottest 5 of them are:
1. Speech Recognition
How brilliant it would be if all our devices could talk to us!
Communicating to an AI device using speech or voice, is what we are talking about.
Speech recognition is the technology that converts human voice into a language that is understandable by the computer.
The latest statistics expects that half of all the searches across the world will be voice searches, by the year 2020. On the other hand, the industry of speech recognition is expected to grow into a massive giant of $601 million by 2019.
The technology is the direct link-road between humans and the computer. This is why 41% of voice-activated speaker owners consider talking to their devices as communicating with their friends.
There is much more to unveil in this domain in the future.
2. Robotic Process Automation:
The manual operation of robots is not possible every time. Beneficial it could be if the robots could operate on their own, in these cases.
This is where Robotic Process Automation is introduced.
Robotic process automation is implemented in large industries where humans cannot be employed for operational purposes.
The industry of robotic process automation is estimated to grow by $2.9 billion by 2021.
3. Machine Learning
The training of machines to think and learn by itself comes under Machine Learning, a remarkable AI technology.
The machine learning is used for machines to access certain data, analyze it and use the reference in the future, that is, performing case studies.
4. Deep Learning
Deep learning is a function of AI, that replicates how the brain processes images, produces patterns and makes decisions.
Generative adversarial networks can be cited as a perfect application for deep learning. This revolutionary technique has the potential to close the doors for playback singers by replicating closely the voices and songs artificially if developed full-fledged.
The deep learning industry would expand its wings by $1 billion by the year 2025.
5. Decision Management Systems
The AI technology is utilized in analyzing data, and then developing a strategy out of it that can be used in the future to make better and fail-proof decisions.
Formerly used in the finance sector only, the benefits of decision management systems are well-understood by every other sector and is thus, warmly welcomed into their businesses as well.