We were thrilled when science fiction and Hollywood movies painted a rosy picture of a futuristic utopia-like planet where AI makes everything possible. However, that initial excitement and hopes about AI and its attendant technologies were crushed when the AI bubble burst. Recent significant breakthroughs, developments and innovations in the field of AI have renewed public interest and excitement about AI possibilities.
AI encompasses several interlinked technologies including robotics, computer vision, neural networks, cognitive computing, machine learning, NLP (Natural Language Processing) and NLG (Natural Language Generation). These technologies have found several use cases in virtually every industry in today's globalized marketplace.
With the continuous evolution of technology in the Industry 4.0 space, many enterprises are joining the trend to develop new functionalities and solutions around AI and its interlinked technologies. Let's take a look at some of the most exciting AI trends to watch for in the latter part of 2018.
NLP, one of the fastest evolving branches of AI, focuses on understanding, analyzing and translating human languages into machine-readable form. NLP-based applications enable simplified human-machine interactions by helping machines understand the finer nuances of speech such as pronunciations, dialects and context.
Furthermore, NLP helps computers develop reading and comprehension capabilities that rival and even surpass those of humans. In January, a deep neural, NLP-based AI machine - Alibaba Cloud - scored better than humans in a Stanford University reading and comprehension test that had more than 100,000 questions. This was the first time an AI model scored better than humans on such a test. The next day, Microsoft's AI machine also bettered the human score.
Most urban cities are ill-equipped to deal with the demands of their exploding populations. City administrators are finding it much harder to provide clean air, water, electricity and easy transportation. Other rising concerns are access to public services and adequate health care. Government organizations also strain to maintain law and order using limited resources.
Most urban cities are ill-equipped to deal with the demands of their exploding populations. City administrators are finding it much harder to provide clean air, water, electricity and easy transportation. Other rising concerns are access to public services and adequate health care. Government organizations also strain to maintain law and order using limited resources.
Resolving these urban population challenges will involve the creation of smart cities. Such cities leverage a mix of "internet of things," big data and AI technologies to better analyze image and video feeds from CCTV footage in real-time to help detect traffic congestion, accidents, crimes and disasters. These technologies also facilitate automatic control of traffic signals to prioritize the passage of law enforcement agencies, emergency response teams and VIPs.
In addition, AI can facilitate the construction of better and environmentally sustainable buildings. Leveraging AI in design and construction activities will help in the management of construction assets, performance diagnostics, the design of customized construction material using nanotechnology and improved selection of vertical framework systems.
With Tesla setting the pace by launching its self-driving vehicle, other automakers are set to follow suit. In 2018 we will see a lot of traditional automakers launching automobiles with advanced self-driving technology. The Audi A8 featuring AI-based self-driving technology will make a debut appearance this year with Volvo and Cadillac set to launch similarly-equipped vehicles soon after.
DARPA, the Defense Advanced Research Project Agency, is pioneering several technological breakthroughs in the field of AI. Tasked with developing new technologies for the U.S. military, DARPA was instrumental in the development of GPS navigation and the internet. Together with Boston Dynamics, the research agency is setting its sights on developing innovative robots for disaster relief. The robots could also be used in military applications. The infamous Atlas robot made its debut in 2013 and is one of the AI-powered robotics technologies still in development.
Brands like Heart, CBS and USA Today are leveraging AI-based solutions and tech to create various content. Wibbitz now offers a SaaS platform where publishers can use AI video production to convert written text into video content.
Most publishers spend days on end creating content for fans, followers and subscribers on social media and their websites. With services like Wibbitz, publishers can create engaging video content in minutes.
The Associated Press is also using Wordsmith, a tool designed by Automated Insights, to apply NLG in the creation of news stories from earnings data. 2018 will see more media companies using AI-based video generation and content creating technologies.
Fintech startups are challenging the incumbents in the financial industry in the provision and distribution of advisory and standardized financial products. They leverage products like AI-based Automated Advisory to offer better financial advisory services to clients.
Further, machine learning models are rapidly replacing traditional methods of predictive analysis to provide faster and more accurate prediction of market trends. These models also help financial companies detect and prevent financial frauds through the identification and prediction of anomalous and fraudulent activity based on historical data.
With Alphabet investing over $30 billion in the development of innovative AI technologies, AI has become the new technological frontier in the Industry 4.0 economy. More and more companies (and even governments) will continue to invest time, money and energy into the advancement of AI and its interlinked technologies.
