Artificial Intelligence came into existence with the availability of Big Data. When Big data Mining became possible the analytics played a major role in taking the right decisions which could be predicted on set parameters defined by the analytics. With the help of Analytics, the machines started learning new techniques to optimise a certain process and make it more feasible for different industries to apply innovative ideas to get the juice out of what was available.
Artificial Intelligence came into the picture when Machine learning combined with decisions taken over the period of time turned into a success. With machine learning storing the right decisions AI has become the next sensation which is going to be the future of the world.
Artificial Intelligence (AI) is no longer the subject of science fiction and is profoundly transforming our daily lives. While computers have already been mimicking human intelligence for some decades now using logic and if-then kind of rules, massive increases in computational power are now facilitating the creation of ‘deep learning’ machines i.e. algorithms that permit software to train itself to recognise patterns and perform tasks, like speech and image recognition, through exposure to vast amounts of data.
There is an urgent need to expand the AI epistemic community beyond the specific geographies in which it is currently clustered. The present trajectory of AI advancement indicates that future economies and national security will be defined by it, making it among a handful of technologies that will shape global politics.
History of Artificial Intelligence
The term artificial intelligence (AI) was coined in the mid 1950's. Today it is defined as the "subfield of computer science concerned with the concepts and methods of symbolic inference by computer." The first project utilizing AI is traced back to 1955 when Carnegie Mellon University researchers developed a computer program to work through proofs resulting in theorems. In the late 50's, McCarthy developed a computer language known as LIS Processing (LISP). This is the language used for most artificial intelligence projects. Decades later artificial intelligence is still only a small progression from its birth. Perhaps in the surge of AI optimism was at its best and humanity was oversimplified and underestimated.
Current AI work
Companies like Microsoft use A.I. technology already as part of their help system. Other companies like IBM and Dragon System are researching A.I. in speech recognition.
Artificial intelligence is used to help pilots fly planes. Robotics incorporating artificial intelligence interaction with laser, ultrasound, MRI scanning, are performing delicate brain surgery more accurately than by traditional surgical approaches. AI was used in the investigation of Mars in July 1997. Another important use of A.I. is in Hazardous Duty Robots which are used in areas of dangerous chemicals or radioactivity. AI is streamlining recruitment processes such as resume approval, interview scheduling, and gathering candidate information. This technology isn’t replacing HR employees but improving the hiring process.
Future of AI
AI is becoming the new user interface, underpinning the way we transact and interact with systems. AI is expected to make an impact on all kind of industries and businesses. It’s being implemented in most industries by leading organisations spanning finance & banking, law, healthcare, manufacturing, transport, tourism, telecom, energy, education, IT, e-commerce, retail, oil & gas and many more. Twenty percent of companies are expected to employ workers in 2020 for the monitoring of neural networks.
Innovating customer experience is essential to a client-based and consumer-oriented business. Customer experience is the key competitive differentiator for 85% of senior executives, Salesforce reports. AI solutions are beginning to transform customer experiences in significant ways, paving way for widespread adoption of AI-based solutions. Global revenue is expected to grow by $1.1 trillion in 2021, thanks to AI-based efficiencies. By 2018, 40 percent of companies are likely to adapt AI.
Twenty percent of companies are expected to employ workers in 2020 for the monitoring of neural networks. CIOs are recommended to consider departments that require large data sets yet don’t have the proper platforms for analytics.
Leveraging AI capabilities, companies are looking forward to taking customer relationship and customer service to a different level altogether. Artificial intelligence and its constituent technologies such as machine learning, deep learning, and NLP are making a powerful impact; they are disrupting businesses to increase brand loyalty, revenue, and duly improve customer service.
AI is streamlining recruitment processes such as resume approval, interview scheduling, and gathering candidate information. This technology isn’t replacing HR employees but improving the hiring process. Using AI, recruitment companies can provide better-selected candidates without going through the time-consuming processes.
Even service delivery can expect better efficiencies, as technologies strive to limit waiting times and increase human agent availability. With AI to aid, sales teams, marketing managers, and other customer relation related employees can provide targeted and strategic services. Top managers can focus on building strategy based on most current and relevant data.
Going further, businesses are going to be even bigger, more complex, and more competitive. And AI is unleashing capabilities to help companies build a robust, agile, intelligent CRM and customer service platforms to power ahead of the competition.
The possibilities of artificial intelligence are endless.
AI for marketing, sales & customer service:
Taking Relationship Between Companies and Customers to the Next Level
AI and its subfields such as machine learning and deep learning are emerging as key technologies to power next-generation CRM platforms. AI can sift through volumes of data from the web, social media, mobile phones, and Internet of Things (IoT) devices.
Smart, sustainable, and profitable customer service isn’t just about speed and seven-figure sales. Research supports that future-proof customer service is also consistent, personalized, real-time, and omnichannel. AI technologies can ensure all these qualities and more with its predictive capabilities, data volume capacities and analysis, as well as through its automation and recommendation engines.
Enterprises are also looking to utilize AI in CRM functions such as lead generation, targeted marketing campaigns, and increasing sales cycles. Amazon was among the first in using technology-driven data, with 35% of sales coming from data-generated recommendations given to consumers.
Companies can also enable higher skill growth among employees by transferring automated tasks and direct customer engagement to AI chatbots. Customer support can spend more time on complex issues and serve more customers while chatbots deal with answering simple questions. The chatbot has a 55 percent success rate and addresses this need by providing answers based on previous interactions. If the bot is unable to answer or identifies a hostile customer, it immediately transfers the concern to an individual.
The only thing to look out for is whether it out smarts us and takes over the companies...
- Big Data
- Data Mining
- Machine Learning
- Effective Decision making
- Decision learning
- Artificial Intelligence
- Future of Manufacturing with effectiveness
- Speech recognition
How does this help businesses?
Virtual assistance: Imagine the logistics for a major international airline like Emirates. They’re interacting with literally hundreds of thousands of people every day – across social media and the real time market. Sheer volume makes customer relationship management critical to their business model.
And that’s where artificial intelligence can step in. Chatbots and intelligent systems can be Emirates’ always on connection to their markets. Should a customer’s flight be delayed, there can be systems in place that connect with said customer, keeping them updated on schedules, and referring them to new information as it happens, with personalized notifications. Chatbots can respond to customer queries, regardless of what time it is. This can only have a positive impact on the overall brand momentum.
Generating business and market insights: Data can be considered ‘the new oil’, as it’s the raw material of the digital economy. But much like oil remains useless without specialized machinery to extract and process it, so data remains useless, trapped in vast cloud databases.
Artificial intelligence can help businesses mine for the unique ‘gems’ found in these databases, processing billions of data points in a matter of minutes. And the best part is that AI isn’t static. It learns and adapts. These insights can be fed back to the business to better its processes.
Here are several reasons why:
- Maximum efficiency
- A more affordable CRM option
- Advances are getting better, faster
Systems automation: Since the industrial revolution, the rise of technology has gone hand in hand with the automation of work. From tractors, to automated hotel bookings and advanced robots working in manufacturing factories, the theme remains constant. As far as the introduction of artificial intelligence is concerned, the only difference is where it works. There’s a growing trend towards the automation of routine work. Artificial intelligence is quickly automating routine processes, the same way industrial era machines automated physical labor. Not only are these technologies extremely capable, they also don’t require coffee, lunch or smoke breaks.
Clickatell Touch: Clickatell has harnessed the power of artificial intelligence chatbots to create Clickatell Touch – the next evolution chat-based solution for business to consumer communications. Clickatell Touch combines online chat and bot-driven interactions (including the benefits of machine learning), with workflow automation, through its proprietary Touch-card technology.
AI as new USER INTERFACE
AI is the new UI—demonstrates where this new human-centred user interface is heading. From intelligent autonomous driving vehicles that use computer vision, to live translations made possible by artificial neural networks, AI is making every interface both simple and smart. This trend is embodied in the growing use of conversation-based digital assistants like Amazon Echo’s Alexa. More than three million people chat with Alexa, asking it to do things like give the weather forecast, set a timer, request a car service pickup, or order paper towels.
- Increased production and indirectly lowered costs have already been witnessed in factories and production lines.
- Jobs better suited for computers have decreased errors and increased efficiency. One example of this is with detecting credit card fraud. American Express has developed an "Authorization Assistant" that uses artificial intelligence to determine whether a purchase is out of character for a card member.
- Possibilities exist for using artificial intelligence to increase efficiency.
- AI is also being pursued to replace humans in dangerous situations. Not only can they withstand radioactive elements but they also work better in places where there is confined space and little oxygen to breathe. This replacement will eliminate unwarranted deaths due to potential accidents and unsafe conditions.
- AI is projected to improve concerns the lives of the elderly as the numbers needing nursing care has risen. Artificially intelligent robots can oversee the individual and help with tasks too difficult for the person on their own.
- AI will be more accurate then ever, thereby increasing the level of trust in making certain decisions.
Scope of AI in India
India has traditionally been two steps behind other major powers when it comes to acknowledging the strategic importance of emerging technologies. India should develop their own workforce in AI and robotics research and development as its AI capabilities are far inferior to those of the US and China. The Indian government must provide the necessary policy framework and incentives, including direct funding to select companies, start-ups and research institutions, to ensure targeted capacity development. This becomes especially expedient because India does not have tech giants like Google or Baidu that can provide the investments and resources necessary for developing advanced AI capabilities.
The need for India to appreciate and develop the strategic potential of AI cannot be overstated. Delaying the initial push will only widen the technology gap between India and other countries. AI will also become central to economic growth, revolutionising everything from manufacturing to innovation and labour market productivity, and potentially doubling the growth rates of the most advanced economies. Given this increasingly pervasive influence, the lack of an indigenous AI capacity will severely compromise India’s future.
India and the Artificial Intelligence Revolution
Well over half—58%—of the companies that are using AI in India are working with the technology at scale, i.e., they are going beyond pilot and test projects and adopting the technology at a larger scale, says a Capgemini report released this month. India was the second-largest global site for new centres, after the US.
Recent advances in artificial intelligence (AI) are a wake-up call to policymakers in India, with every one of Prime Minister Narendra Modi’s flagship programs (Make in India, Skill India, and Digital India) likely to be directly affected within the next few years. The Indian government’s Digital India initiative, too, has created a favourable regulatory environment for increased use of AI.
The, then Commerce and Industry Minister Smt. Nirmala Sitharaman, constituted a Task Force chaired by Mr. V. Kamakoti of IIT Madras to explore possibilities to leverage Artificial Intelligence (AI) for development across various fields. The ‘task force on AI for India’s Economic Transformation’ will submit concrete and implementable recommendations for government, industry and research institutions.
In addition to regular members, it will have official participation from NITI Aayog, Ministry of Electronics and Information Technology, Department of Science & Technology, UIDAI and DRDO.
The panel comprises experts, academics, researchers and industry leaders. With the rapid development in the fields of information technology and hardware, the world is about to witness a fourth industrial revolution. Driven by the power of big data, high computing capacity, artificial intelligence and analytics, Industry 4.0 aims to digitise the manufacturing sector. The move comes in the backdrop of the government reviewing the manufacturing and industrial policies.
The task force members include Anuj Kapuria, High Tech RoboticSystemz Ltd., Anurag Agarwal, Institute of Genomics & Integrative Biology, CSIR; Ashish Dutta, IIT Kanpur; Ashwini Asokan, Mad Street Den, Chennai; Gautam Shroff, Vice President & Chief Scientist, TCS Innovation Labs, Tata Consultancy Services, Gurgaon; G. H. Rao, HCL Technology; G. Madhusudan, IIT Madras; G.V.N. Apparao, Ex-Chief Technology Officer, Cognizant; Komal Sharma Talwar, Founder, XLPAT; Kunal Nandwani, Founder & CEO, uTrade Solutions; Shantanu Chaudhary, IIT Delhi, Department of Electrical Engineering; Vijay Kumar Sankarapu, Founder & CEO, Arya.in; Ajay Kumar, additional secretary, Ministry of Electronics & IT; Amandeep Gill, Ambassador/PR to CD, Geneva; K. Nagaraj Naidu, Joint Secretary (ITPO), Department of Economic Affairs, Ministry of Finance; and Aloke Mukherjee, DRDO. Ravinder, Joint Secretary, DIPP, Ministry of Commerce & Industry is the convenor of the panel.
This need for artificial intelligence by so many industries has created an environment for startups to flourish in the areas of artificial intelligence. Also, the world’s largest tech companies are funding start-ups in this space fuelling their growth.