Artificial Intelligence

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Artificial Intelligence

Artificial Intelligence (AI) is undoubtedly, one of the biggest buzzword in technology space. It may be surprising to know that it is not really a new technology and has been around for pretty much same time as computers. However, with recent improvements on computing and more and more open technologies in AI space, the adoption and application of AI is pacing by leaps and bounds. There are already many proven business use cases where AI has delivered impeccable results:

– Voice recognition enabling digital assistants such as Alexa, Siri and Google to provide effortless customer experience
– Image recognition enabling use cases such as mobile check deposits, fully automated Amazon Go,
– Machine Learning allowing various credit card companies with improved fraud detection capabilities, insurance companies with better underwriting and hospitals with robotic assistants

Commercial Application Areas

Chatbots
Be it a customer service chatbot to handle common requests or internal company assistant for better employee service delivery. AI based chatbots can help in digitizing processes and provide new capabilities, while saving time and money.
Anomaly Detection
Helps in identifying common trends and outliers, which can help predict product failures, preempt service needs. In addition, it can also be utilized in risk assessment and fraud detection.
Reommendation Engines
Recommendation engines help in predicting recommendations based on past usage data and help enhance customer offerings. Be it retail based product recommendations, or movie recommendations like Netflix, Recommendation engines can help carve out individual suggested plan.