AI GIVES MARKETERS AND BRANDS SUPERPOWERS, WHICH CAN BE USED FOR GOOD OR EVIL!
- CMOs most prioritize AI spending areas are Content personalization and predictive analytics- The CMO study discovered that the top user of AI for content personalization (62.2%) are B2B service providers whereas, B2B product companies prefer using AI for AR & VR, visual search, and facial recognition. Source: CMOs’ Top Uses For AI: Personalization and Predictive Analytics. Marketing Charts. March 14, 2019
- 82% of marketers are adopting AI to provide the best customer experience. The timely delivery of content, offers, and other relevant experiences stand second (67%), and performance metrics are third at 57%. Source: Leading reasons to use AI for market personalization as per industry professionals, 2018, Statista
- 81% of marketers believe in spending audience targeting using AI in upcoming years. 80% are already hanging on AI for audience segmentation. EConsultancy’s study found that most marketers are in favor to adopt AI as per its potential to boost marketing and track the growth of the business. Source: Dream vs. Reality: The State of Consumer First and Omnichannel Marketing. EConsultancy
In this astonishingly growing world of tech, it’s getting even more challenging to hold peeps’ attention. We’re on 24-hour news shelling, social media platforms trying to retain us anyway, and the barrage of email and messages that seem never-ending. With all this fanfare, it’s a near wonder that companies can get their words across and convincingly communicate their offerings to potential customers.
AI in my opinion is an 'IF THIS-THEN THIS' kind of scenario. It helps the world systems and its recruiters to become smart enough to recognize the preferences and choices people are going to make. Other than that it is only a 'machine learning- sequence of data you store in a computer or a machine to perform the task.
The Nuance of AI
No matter you like it or not, Artificial Intelligence calls for great business ventures!
AI tech or Human competitive machines are reshaping industries from finance to healthcare to retail. In such industries, AI tools are dramatically shifting the course of operating tasks, providing unprecedented revenue breaks, and significantly cutting costs.
Some common AI technologies are all ears such as machine learning, computer vision, natural language generation, deep learning, natural language processing, neural networks, and speech recognition. There are gobs of others, too.
That’s where AI tech beat the traditional software because of such architect design and variety in performing massive tasks.
Penumbra of AI in Advertisement & Graphics
In Advertisement Case:
- AI has influenced advertising and the surrounding landscape. Advertisers and marketers want to optimize the large data at their disposal to provide the best campaigns and drive more impact.
- Thus the importance of AI in advertising continues to lift a collar. Before the assistance of AI, it was tricky to gauge the effectiveness of campaigns and where to allocate capital.
- However, media spend is not the only sector of the advertising business being hit. AI affects planning, analytics, and creativity. Hence, other factors are also engaged in how advertising budgets are acquired and spent.
In Graphic Design Case:
- AI provided footholds for designers to create images that are impossible for them to create before. These images are invented by analyzing the users and then designed logos.
- AI even prepared complete layouts for a website via the relevance of different objects with the help of their cognitive abilities.
- The AI-powered systems also enhanced the categorization of the websites with the best color combinations, settings, font styles, and overall design.
Impact of AI on Advertising
AI can force a competitive edge to advertising campaigns through enriched user experiences and reduction in human error. The potential benefits are evident, and businesses are prevailing over this.
The best reasons why industries are increasing spending on AI in an advertisement are:
Break down of AI investments: Organizations invested on average more than $38 million in AI in 2019, which amounted to about 0.75% of revenue. About one-third of companies invested more than $50 million in 2019. AI could contribute up to $15.7 trillion to the global economy up to 2030, far above the current output of China and India combined.
1. Better ROI Effects
Advertisers and marketers have struggled before to determine the status of their campaigns and the actions needed to acquire their results. If we leverage analytics, the companies can establish what is most effective.
Besides, by targeting the best audiences with inch-perfect messaging, your team can bunk advertising waste and improve marketing ROI.
2. Hyper-Personalization Experience
As per Forrester.com, 80% of US customers like to trade with personal information for a hyper-personalized approach from retailers.
Personalization allows businesses to build relationships with consumers over touchpoints. Whether it be using conversational marketing or optimizing creative messaging to connect with audiences.
Your team can benefit from risen brand loyalty and best-fitted advertisements.
Automated tasks via AI that are ‘set-and-forget’ free fall investments and resources that marketers could use in strategic objectives. The entire unit can become more productive and dynamic.
Companies can dump trash that occurs naturally as the result of mass marketing by customizing any offer to the minimum amount to influence purchasing options.
Impact on the Other Twin- A Graphic Designing
The impact of Artificial Intelligence (AI) is like a hammer of a Thor for the design industry in recent years. Artificial Intelligence has been influencing almost every business worldwide, graphic designers fall into no different class.
From automated packaging of the products, conversion of Big Data into secret codes to perform, AI has the idiosyncratic potential to hit the system of graphic design in an unprecedented way, hitherto not experienced.
However, this machine intelligence is still often unknown in the field of graphic designing such as how it will perform and change the gears for expert designers.
AI serves the most powerful and robust design systems which include a blended flow of modules, patterns, and elements to build a brand’s design language. Thus, it’s also called a designer’s bosom buddy.
The inclusion of AI in the designing system helps us to:
1. Improve User Experience
Smart user experience is the least spotted angle but turning out to be a new norm for the graphic industry. Like Facebook, which uses AI to show the content of the photo to visually impaired readers and also reveal relevant advertising tactics.
Google Lens by Google, one of the revolutionize AI-powered systems is an optical search technology whose AI elements can detect and display the content in which your camera has been positioned.
2. Create Dynamic Visuals
AI embedded in tools like Prisma or Artisto helps to identify the images’ content efficiently and also applies smart face tech to evoke the best visual effects.
There’s an entire cluster of apps with procreative and dynamic visual styles to augment the designer’s capabilities. Let’s take Auto Draw– another automated visual component app. It helps the user to fine-tune their sketches into fresh and polished forms.
As per the AI experts, the more a designer adopts machine learning tools for drafting sketches, the more smartly AI knows what the users are trying to draw.
3. Build Modular Design Systems
AI set up more powerful and robust design systems for the designers. The system includes a flow of modules, patterns, and elements to sketch a brand’s design language.
Let’s now take one more e.g. of an app Tailor Brands. A spellbinding service that can create a logo and brand with 100% ease and speed. You can create a logo for your brand in seconds after going through a few quizzing.
Algorithm-built logos get on with diverse colors and elegant themes are also commonly used branding and AI trends.
Real-World Examples for Advertisement & Graphics
“The future of marketing is about the future of experiences.”
According to one of the world’s finest Futurists, Thomas Frey, over 2 billion jobs will disappear by 2030 (nearly half of all jobs on the planet) due to technological boost.
Graphic Designing case in point
The design industry experts predict that only 8% of graphic design jobs, can be overlaid by an automated system.
Here are some fresh cases of AI in Graphic Designing:
- Adobe’s Sensei software uses AI to accelerate methods like filtering through stock photos, editing facial features excluding distortion, and loosen jump cuts during video interviews.
- Websites like Squarespace, Wix, and The Grid capitalize AI to build sites inessential of graphic designers. Users can upload images and text, then follow a library of color combinations and design choices to create a unique, customized website in few easy steps.
- Netflix has adopted AI in its network to kill tedious tasks such as product localization with automated processes. AI eased the process for designers who only need to check the graphics and manually set them if required.
Advertising case in point
Artificial Intelligence makes the path fertile for marketers in recognizing sales cycles better, exchanging their strategies, and spending to sales results.
Marketing in new times is more analytics and quant-driven. It enables CMOs to know which metrics and KPIs to track and why they fluctuate.
Now read the most impressive AI usage in marketing & advertising:
- Magnolia Market, the brick-and-mortar shop “inspires you to own the space you’re settled in.” The space Magnolia has created is a real brand experience of food, games, shopping, and a garden. They’re blended with Shopify Plus to create a storefront and an augmented reality app that gives users the luxury to view products in 3D and “place” them in their homes. This unforeseen pleasure set Magnolia apart and grew its e-commerce arm, a vital driver for company growth.
- Chase Bank with the assistance of Persado, included machine learning experience in their copywriting, which actually helped the bank to achieve more humanity in their marketing. Like the one, a digital ad was written by humans: “Access cash from the equity in your home.” Persado’s version has turned the heat, which read: “It’s true—You can unlock cash from the equity in your home.” The latter version played better than the former with customers.
- Nike launched a system in 2017, provided customers with incredible fun to design their sneakers in-store. By using augmented reality and projection systems, the site then displays the design on the empty shoes. The customers are then able to view their custom designs on the sneakers in about 90 minutes. This user-engaging feature not only drove sales but more importantly, allowed the Nike brand to flock data about customer preferences.
Adopting AI in the Moment of Truth
We are going to recap the mentioned version into three core points:
- Rather than sensing AI as a threat to their livings, professionals should view this sensational technology as an opportunity to drive high ROI effects via creative and strategic means.
- No doubt, AI has nearly swept through every business across the world in the need to acquire productive results and to automate work efficiently with the help of its cognitive abilities.
- Due to its enthralling effects in almost every industry, such as customer engagement, copywriting, data conversion, designing of an image, facial recognition, augmented reality, creating dynamic visuals, or others we must now embrace AI in our businesses to take the lead against our competitors.
Brands of almost every mega-industry are heading towards the unusual conditions to cater to success volumes. These brands gadget AI in apps for improving customer satisfaction levels, boost business profits or provide new-level comfort, etc.
Companies find themselves in a tug-of-war competition when they access the mobile app market. This indoor situation prompts them to consider all emerging digital trends to stay valued.
Due to the rising impact of artificial intelligence on the market worldwide, big groups like Alibaba, Amazon, eBay, or Tinder value AI in their apps to the full extent to drive customized mobile U/X and gain momentum for their businesses.
According to our company’s research, the global market of AI is forecast to touch US$252.01 billion in 2025 from US$29.82 billion in 2019, at a CAGR of 42.7%.
The recipe is simple, invest in AI and leapfrog your rivals, or find your business in chaos.
To help you explore what AI can feed your souls. This article shows 7 best AI-powered apps for Android and iOS platforms to recapture your delight for business, education, entertainment, assistance, health, or gaming.
BEST AI APPS FOR IOS AND ANDROID
The best-of-the-lot apps in App Store and GooglePlay show how various industries get privilege via AI implementations. The list adds the AI apps created by eminent trend-setting groups as well as have won vast popularity and keep holding strong feet in the market.
1. Retail App: E-Bay
The eBay system injects artificial intelligence to provide users a fitting shopping experience. The AI eases the process to understand the intent of the customers’ search and present a full bucket of relevant products. It helps in shortening the search time and leaves a festive impact on its consumers. E-Bay uses superintelligence- Machine vision to help find the desired product by the image added by the customers. Besides, ML lets traders discover and compare the trendy costs of items to help them sell products quicker.
Key AI applications: natural language processing, machine learning, computer vision, & translation.
2. Media App: Pandora
Since Pandora’s music streaming service has been in the business field for 20 years, it has now earned 3rd place for radio streaming AI apps for iPhone recently. The fusion of musicology and data science facilitated the creation of the app that covers the listening tastes of users and provides them with the intended songs that exactly suit their minds at present. The “Music DNA” feature actually blends with the mood of a person; thus AI program breaks up every musical part into the smallest attributes to capture the spirit of the song.
Key AI applications: machine learning, voice and speech search, In-app Voice assistant.
3. Health Care App: Elomia
The fear of self-isolation due to COVID-19 led to a fellow in the UK die by suicide, which urged the co-founders to launch the app Elomia. It is an AI-powered therapy chatbot, which works via Facebook Messenger, and acts as a protector of the public fighting anxiety and loneliness. It has been made by psychologists to understand the mental thoughts of one and construct a discussion that can provide pleasant comfort to users using Cognitive Behavioral Therapy (CBT). The app can also serve as a medium for people who can’t go to a therapist or have to self-isolate, turn the situation a bit more relaxed.
Key AI applications: chatbots, health assistant, virtual assistance
4. Travel App: Hopper
Predictive aptitudes of the Hopper traveling app serve millions of users with accurate insights of hotel room costs, flights, and car hire up to 1 year in advance. As a customer reaches the desired location, the app delivers information on fares, suitable travel dates and can predict the upcoming shifts in prices for the trip in the future. The app also facilitates the users with smart notifications based on their previous search on varying prices for the viewed offers. These features made Hopper app vital for all travelers in finding cheap trips and live the in-time experience.
Key AI applications: machine learning.
5. Voice Assistant App: Amazon Alexa
A leading virtual assistant mobile app by Microsoft paid heed to the user’s infotainment, planning, making to-do lists, music playback & much more. With voice interaction, the app leads to manage other Alexa-driven devices such as wearables, smart home utilities, tablets, TVs, etc., via smartphones. Customers around the globe find their trust in Amazon Alexa’s personal assistant for routine tasks. Thus it makes the Amazon company a star performer in AI-driven apps.
Key AI applications: voice recognition, streaming podcasts, real-time information, etc.
6. Education App: ELSA Speak
ELSA Speak is a hot AI-powered app of how to learn or speak English. ELSA app serves as a digital English tutor, learns from speech data that enables users to speak English without much of a force using this application. It uses voice recognition technology with Machine Learning to hear to learners’ accents and analyze the quality of declared words with red, green, and yellow colors. Its impressive feature lets users interact with the basic American literary pronunciation in English. ELSA Speak has been downloaded over 4.4m times and claims to hold more than 3.6m users in 100+ countries.
Key AI applications: machine learning & speech recognition.
7. Gaming App: Minecraft
Minecraft- Game of the Year in 2012, is a sandbox game originally planned by developer Markus Persson and later treated by Mojang. Push off a conventional video game, Minecraft has no definite goals to win in the game. It let the players arrange 3D (blocks) to create a game world, turning it into an eternal videogame. That’s All. The game does offer many different modes like spectator mode, adventure mode, and so on.
The AI feature makes Minecraft more amazing to explore. It adapts to the gamers’ customization and allows the power of fabricating virtual environments. Although there are games like Minecraft, not a single one has an edge nearer to its creativity and the scope it gives to the gamers.
Key AI applications: Deep learning, artificial neural networks.
FREQUENTLY ASKED QUESTIONS
What is an AI app?
An AI app is energy that integrates machine intelligence into its functions and services. Any app can shift into an AI application provided the call is there. AI has served groups such as Netflix & Amazon to boost their customer experience and inspire many people to have a delight of them.
What are the top AI apps?
At the moment, chatbots are one of the leading fields of AI development. Apps such as Apple’s Siri, Microsoft’s Cortana, Amazon’s Alexa are the top in this domain. For the 7 best AI apps, read LaGrasigns. blog section for more details.
What could be the cost of an AI app to build?
The cost of building an AI app relies on the stature and complexity of the intelligence required. Since it requires developers who are able to build advanced algorithms, any group developing an AI app will need to pay more to hire the skilled developers. Generally, AI integration will increase the cost of an app by between 25% to 45%.
What Is Emerging Technology?
Emerging technology is generally used to represent new or rising technologies, but it may also refer to existing technology’s development. It can have a slightly altered meaning when used in other fields, such as media, marketing, business, science, or learning.
The term also commonly refers to technologies that tend to be modified or expected to be available within the next generation or are usually reserved for building, or are expected to build strong social or economic effects.
Which technologies will be driving the world’s tech industry in 2021? You’ll find out soon in this article. It has to be an exciting and prudent start to the year. The emerging Technology Community laid their eyes on new technologies with its top annual listings. The 2021 ranking varies a bit from the 2020 list.
By 2021, the leading most emerging tech, according to the CompTIA Emerging Technology Community, are AI (artificial intelligence), Cloud Native Tech, IoT (Internet of Things), AR (augmented reality)/VR (virtual reality), Blockchain & Cryptocurrencies.
1) Use of Ethical AI
In previous times, industries consuming AI or machine learning advancements paid little heed to their ethical impact. But in recent times, values-based customers and employees anticipate that organizations should embrace AI in a logical shape.
If we set our eyes on the traditional AI in the world, we would be familiar with the virtual assistants’ power technologies such as Apple’s Siri or Amazon’s Alexa, which precedes natural language processing (NLP) technology.
Automated facial recognition or big data analytics is another perfect example of AI, used for sharp business insights and decision-making.
AI Components- Machine Learning
Machine learning is the chronic form of artificial intelligence in development for business purposes now. ML are algorithms that appear to “learn” eventually, getting better always by practicing more often. One of the key examples is #Learning associations.
It is the method of acquiring insights between the products. Consider how independent products can be associated with one another. One core application of machine learning is studying the connections between the products that people purchase.
Deep Learning is an even more explicit version of machine learning and is responsible for performing more advanced functions, like fraud detection. These algorithms help self-driving cars contextualize information fetched by their sensors, like the object’s distance, travel speed, and a prediction to reach in the next 5-10 seconds. Deep learning must have a promising slam in businesses worldwide and is likely to perform tasks more often.
AI & Modern Businesses
In the business of today’s times, artificial intelligence holds a prominent place. Indeed, most of us interact with artificial intelligence in some form or another on a daily basis.
From the tedious to the exciting, artificial intelligence is already disrupting virtually every industry’s trading process. As artificial intelligence technologies increase, they are growing imperative for businesses that want to display a dominating move.
AI’s Diverse Impact:
This trait showcase artificial intelligence invaluable throughout many industries, whether it’s simply serving visitors or completing a complex task like monitoring a wind turbine and predict its early improvement.
AI’s versatility can also be observed within the financial sector. The Massachusetts Institute of Technology collaborated with TD Bank to integrate machine intelligence during regular banking operations, like mortgage loans. “Through this technology, you will get a personalized message from the bank for renewal while you are at the closest to the branch.
In the future years, businesses will deliberately decide to go with the allies that hold data ethics and implement data administration that mirror their own and customers’ values.
2) Cloud-Native Tech
For quite a while now, cloud-native has become one of the spicy topics for business management. Some developers call it a ‘hype’ that will lose friction in the coming times. For others, it may be the future of software development.
Cloud-native is all about reconceiving the entire business systems. The cloud-native systems are meant to adopt rapid change, large scale, and resilience.
Cloud-native tech holds speed and agility. The world’s business systems evolve from enabling skills to strategic conversion weapons that boost business velocity and growth.
The Success Story of Alibaba’s Cloud-Native Technology
Since 2011, Alibaba had been supporting containers through a cloud-native technology system. Being a pioneer in this industry, Alibaba has now developed a containerized infrastructure architecture among leading technology companies. This architecture is now the technological spine of the entire Alibaba Group.
Alibaba support containers to develop cheap virtualization and planning technologies. They are able to provide flexible deployment units and shift the resource planning mode from static to dynamic and as required.
The tech giant has also adopted Kubernetes as its container arrangement program to enhance automation and ease the application deployment. By then, Alibaba has been on the way to improve the production and accessibility of Kubernetes. The platform also enables Alibaba to refine its R&D and deployment methods.
To thrive resource and efficiency, Alibaba’s entire infrastructure has become more clear and connected to many open-source ecosystems. Alibaba also integrates and gives beneficial concepts, technologies, and ideas with open-source groups. Now, Alibaba Cloud runs China’s biggest cloud-native application – the 11.11 global shopping festival.
3) Internet of Things (IoT)
The Internet of Things (IoT) is connected with the use of well-combined devices and systems to support data, grouped by sensors and actuators in machines or other physical objects.
LaGrasigns Vision of IoT Services
In the wider sense, IoT surrounds everything connected to the internet, but it is frequently defining objects that “talk” to each other. “Simply, the Internet of Things is made of devices such as easy sensors to smartphones and wearables – connected all together,”
The next future rule is going to be, “Each device that can be connected will be connected.” But why would you eager to have connected devices talk to each other? Let’s think you are on your way to a conference; your car could possess navigation and already know the best route to get.
Imagine heavy traffic; your car might send a message and notify the other party that you will be late. What if the wearable device at your workplace could analyze your activity and productivity and share that data with other devices you used while working?
IoT can be applied to an extent like transportation networks- “smart cities projects,” which can improve environmental inefficiency. The smart use of energy resources through IoT also helps upgrade the living standards of our everyday life.
What Next for IoT?
The IoT will hugely strike the economy by transforming many companies into digital businesses, suggesting new business models, improving ability, and boosting employee and client engagement.
This particular tech is anticipated to travel with extreme speed in the next years. This convergence will unleash new areas of services that will unlock futuristic opportunities for individuals and businesses.
4) Augmented & Virtual Reality
2019 should be counted as a successful year for virtual and augmented reality (VR/AR)– mutually known as Extended Reality (XR).
Virtual reality – where users wear a headset and are fully occupied in cyber environments – has been developed to push design, marketing, education, and retail needs.
Augmented reality – where computer images are projected onto the user’s view of the physical world through a screen or headset – is a more complex action. It expects the software to “view” what is afore.
It is a burgeoning trend, especially suited to mobile computing and business applications among companies. It’s finding its way to get even bigger as AR-built smartphones and other gadgets become handier worldwide.
AR is readily open and used in many ways, like Snapchat lenses, in apps that help you locate cars in a crowded parking lot, or in many e-commerce apps that let you shop for clothes without even leaving home.
How Is XR Affecting the Future Strategies of Brands?
Retailers and innovative brands are looking to adopt immersive digital methods due to the increasing super intelligence impact in offline shopping.
To boost revenue, drive consumer action, and enhance brand awareness and loyalty, AR plays an influential role.
How do they do it? Augmented reality (AR) is a key shift enabler for offline user engagement that brands and retailers apply to digitalize the consumer experience. This digital revolution is already changing trends for retail businesses.
XR’s User Experience
Although AR is still a newbie in terms of adoption, it’s already becoming an integral part of the shopping adventure. Multiple brands, such as Gucci, Lacoste, Tesco, Toyota, and IKEA, utilize AR to embed lively interactive content into their products and engage consumers in a physically virtual world.
What if you could see your medication packing at home and place an online order directly from the box without reaching the pharmacy or online portal?
Creating AR content can uplift brands and retailers’ businesses from scratch and understand consumer behaviors. Brands that have learned and integrated AR technology into their companies see doubled revenues, spontaneous brand awareness, and a leap in customer loyalty.
XR- The Next Big Thing
As we showed earlier, there are many AR/VR devices globally, including smartphones, headsets, wearables, tablets, and consoles. Each AR/VR gear provides an exciting user experience across the reality spectrum but with definite limitations.
Take a deep breath and think, what is the future of our devices? How are they beginning to evolve with XR? What if we could have see-through screens we are beset by every day?
Pokémon Go provided the public with a taste of mobile AR. But that was just the glance of what is possible. The XR devices of the future will provide customized, accessible, and well-designed experiences. As these factors take hold, a platform shift is expected.
From the compact view, we may be using augmented reality tech to look over text messages and smart-glasses to scroll through Facebook.
5) Blockchain Technology
Blockchain is a mechanism for forming a shared ledger OR an immutable ledger that helps record transactions and track assets in a business system. An asset can be physical (a house, car, land) or virtual (intellectual property, patents, trademarks, branding).
Blockchain Beyond the Crypto Circle
The term “ledger” appears straight from the cryptocurrency world, containing a record of financial transactions. More commonly, this ledger can be a store of series of data.
Once we move beyond the digital currency’s record of transactions, new industries reveal. Consider, real estate businesses, smart contracts, and content delivery are all potential evidence for the Blockchain technology.
Blockchain is ideal for delivering the information because it affords quick, shared, and utterly transparent data saved on an immutable ledger that can be accessed only by authorized network members.
The network allows you to track orders, cash, accounts, stock, and much more. And because members share a single view of the record, all transaction details are fully reachable, provides huge confidence, as well as new powers and opportunities.
The Future of Blockchain
Blockchain is an emerging technology, so finger crossed predictions are there at its potential. In a Tech Republic Research study, 70% of professionals who responded are non-techy of Blockchain. 64% insisted that Blockchain affect the world industries somehow in the coming times and predict a positive impact.
The latest Trend Insight Report from Gartner made the following prediction:
- By 2022, just 10% of businesses will achieve drastic transformation through Blockchain
- Also, by 2022, at least one innovative company stood on Blockchain tech will be worth $10 billion
- By 2026, the industry value added by Blockchain will reach just over $360 billion, and by 2030, it can win more than $3.1 trillion
- Cybersecurity is among the most promising areas of predicted growth for Blockchain technology.
Data tampering is an exclusive challenge for every diversified business in the world. Through Blockchain tech, industries can prevent tampering, secure data, and enable members to verify a file’s authenticity.
A cryptocurrency (or “crypto”) is a decentralized digital currency based on blockchain technology used to buy goods and services. It holds an online ledger with strong cryptography to guard online transactions.
These crypto’s work through a technology called a blockchain. You may be familiar with the most demanded versions, Bitcoin and Ethereum, but there are more than 5,000 types of cryptocurrencies in the market, according to CoinLore.
Cryptocurrency- Area of Performance
A cryptocurrency is a symbol of exchange that is digital, coded, and decentralized. Unlike the U.S. Dollar or the Euro, cryptocurrency doesn’t hold any central authority to maintain its value. Instead, these tasks are usually distributed among currency users by the internet.
Bitcoin was the beginning of a cryptosystem, first outlined in principle by the inventor Satoshi Nakamoto in a 2008 article named “Bitcoin: A Peer-to-Peer Electronic Cash System.” Nakamoto briefed the project as “an electronic money system based on cryptographic proof instead of loyalty.” The cryptographic proof is a verified and marked transaction or a program called a blockchain.
Prediction About It’s Future
Cryptocurrency has been a global phenomenon since it launched in 2009, but there is still much space to learn about this developing technology. Many chit chats or concerns are swirling around and its potential to disrupt conventional financial systems.
This past year has already been a turbulent one for economic systems, but against a pandemic backdrop, the digital currency sectors continued to evolve, prevail, and grow.
Whether in the form of extended regulatory attention, broader interest in bitcoin and other cryptocurrencies as an exchanging medium, or blockchain tech’s general use in contrasting organizations, the aim is void and clear.
Shady Existence in the Current System
Cryptocurrency is tricky to regulate money within mainstream industries. Besides, a general consumer also has nothing to do with digital money.
However, to become relevant against a normal currency, it surely needs an increase in control and consumer protection, which surge the Bitcoins transaction costs and reduce the secrecy, the two most appealing factors.
The cryptocurrency also doesn’t leverage enough applications for the corporate world. Decentralization raises the chance of bankruptcy, and so does the unpredictability in its value.
The Promising Upcomings
As cryptocurrencies have been highly volatile and component over the years, especially Bitcoin. However, these are impressive forecasts about cryptocurrencies coming times:
- Crypto users predict that by 2024, almost 90% of other types of Bitcoin will be released.
- Jeremy Liew, Snapchat’s first investor, proclaims that Bitcoin will hit a tremendous $500,000 by 2030.
- The demand for cryptocurrency is expected to grow, as it is decentralized and safe.
- The tech-savvy individuals and companies are favoring encrypted currencies indicate the promising future.
But let’s not forget that it is still in its early stages. Hence, it is clumsy to find if a cryptocurrency will be the fate of money or run-of-the-mill in the future.
What do you think is the ultimate challenge for our planet against superintelligence or advance technologies? Will humans remain superior, or machines nexus take the upper hand?
It is inevitably proved that these technologies are providing comfort to us. Hence, the limitations of men got extensions in terms of various tasks like manufacturing, production, fraud detection, data storage, and boosting business gains.
These existing technologies are undoubtedly very useful for mankind, but high-end up-grading will indeed cross our concerns and be safely negotiated in the future.
Check out our blogging section for more enthralling topics & about the latest tech with comprehensive research and analysis.
An Intelligent Overview
Artificial intelligence (AI) is a wonder produced by science, which is built for machines and is different from human beings’ and animals’ minds. It is a radical branch of computer science & studied as “intelligent agents” means any device that senses its surroundings and drives actions to maximize the chances of success by reaching its goals.
In the 1950s, Minsky and McCarthy, the twin founders, have described Artificial Intelligence as, “If humans needed to carry out tasks like machines, they should apply the minds of artificial intelligence.”
Artificial Intelligence can be used in the latest machines for various services, like perceiving information, contesting in top-level strategic or arcade games (e.g., chess), automatic cars, smart navigating, and military exercising.
It has become almost easy for machines to learn from experience, work like humans, and progress throughArtificial Intelligence.
Most of the AI’s working today are massively reliant on deep learning and are connected with human intelligence – from E-Payments to self-driven cars from Google Maps to Digital Assistants. We can also command the devices to achieve significant tasks by integrating a vast amount of data and identify patterns in the data using AI tech.
Artificial Intelligence Impact in Various Fields
The importance of Artificial Intelligence in our personal and commercial lives can be seen by its existence throughout, from route navigating, detecting human errors, data integrating, or much more. It has now become the facet of your lives to live beside the machine intelligence. These artificial devices are proving to be a better option in improving human powers and augmenting social skills.
Have a look at some of the most aspired AI factors in modern times:
1. Analyzes More In-depth Data
Human-made intelligence has made it remarkably simple to analyze data through neural networks, which consist of many hidden layers. Big data and intelligence power has made it possible for us to build a fraud detection system, which has revolutionized the entire model. It would be helpful to have a large amount of data to train deep learning models as they are dependent on the data. The accuracy of the model relies upon the massive input of data as well.
2. Upgrading Global Businesses
There is an ongoing race between business experts and marketers to deliver competitive outputs and services to their customers. AI is upgrading the scale of growth for industries and businesses with exceptional innovations. From benefiting global supply and demand chains to enhancing delivery routes, AI is helping enterprises of all sizes in achieving their optimal targets. Hence, through machine intelligence, we are indeed testifying to a better world than before.
3. Assisting Medical Industries
Artificial intelligence, where revolutionizing each department of life, also changed the medical industry’s obsolete model. It has saved many lives with its future predicting knowledge about the patients’ detrimental health issues and aided in diagnosing and preventing a severe ailment like cancer or tumor.
Machine intelligence is focused on creating a virtual care personal assistant to analyze patients’ health, track different cases, past healthcare cases, and outcomes.
The inclusion of healthcare bots is another hallmark of the medical industry, which is supposed to provide 24/7 help in medicines, regardless of the least critical task of managing appointments. All these leading-edge innovations were not possible without the intervention of AI-based devices.
4. Altered Auto Industries
Auto accidents are one of the significant dangers of the world. Only in America, thousands of people become victims of road accidents daily. The negligence of traffic rules and human errors causes an astonishing 95% of these accidents, showing that these events are preventable with ultimate care.
With the involvement of artificial intelligence, the ratio of these fatal events can be reduced to a certain degree. The auto industry’s innovation of self-driven cars will be much impactful in controlling accidents; also, AI will be useful to empower the outdated traffic conditions.
Many cities have adopted smart systems with the motive to examine traffic lights at the intersections. Keeping away from blockage helps more secure movements of vehicles, bikes, and people on foot.
5. Supports Logistics & Supply Chain
The right access to the added data allows brands to nourish the image of their worldwide logistics system. This point of transparency is crucial because it accepts how we think about supply chain control and logistics changes.
AI is appropriate to ramp up network planning and predictive demand competencies, allowing traders to be more proactive. Plus, AI provides access to adjust the number of vehicles and leads them to the most demanded places, ending in low running costs.
AI solutions pave the way for chatbots to reshape customer support. According to Accenture, the AI bots control almost 80 percent of all customer interactions. It can customize the bond between client and logistics suppliers to get a high degree of success.
Moreover, AI grants you the ease of smart warehouses, a fully automated tool where most work is done by self-regulation. In the process, tedious jobs are simplified, and services become more workable.
Classifications of AI
At a highly technical side, artificial intelligence can be described from various broader perspectives. There are seven most familiar forms of AI performing in significant fields of the world.
1) Reactive Machines
It is the earliest form of an AI system that had minimal capacity. These machines emulate human mental ability to react to different types of stimuli.
Reactive intelligence does not store memory functions, suggesting that such devices cannot gain experience in performing their actions. In other words, they are inapt to “learn.”
They are worthless to rely on as the memory of reactive machines is not competent for the users. The most common example of a reactive AI machine is IBM’s Deep Blue Chess Computer, a bot that had beaten Garry Kasparov -Chess Grandmaster in 1997.
2) Narrow Intelligence
Narrow intelligence includes all the existing AI’s, whether highly advanced or competitive, which are created till now. All the specific tasks with humanistic skills are performed under narrow intelligence.
These machines are inapt to display advanced level tasks but the programmed task only. Thus, these devices have a compact or low range of competencies.
Compare to the system above of forms, narrow intelligence resembles all the reactive or limited AI. It includes even the most complex AI that uses deep learning and machine learning to train itself.
3) Artificial General Intelligence (AGI)
General Intelligence covers many intellectual aspects like sense, learn, observe, and execute entirely like a human being. These systems are skilled to form many competencies on their side, build links and generalizations over domains, which results in a vast cut-down of time for training the bots.
This adaptable trait of AI makes it a super valuable system for the industries by replicating multi-skilled abilities at once.
4) Artificial Superintelligence
The formation of Artificial Superintelligence is probably the hallmark of AI research, as it brings the most competitive form of AI to the users.
The superintelligence system is remarkable at performing tasks due to its multi-skilled functionality, robust memory, rapid data feeding or study, and decision-making skills.
The development of different AI types will guide to a situation most commonly referred to as the manner. Besides, the potential of having such influential machines at our control looks appealing; they can also risk our existence and way of living.
To hold a gloomy outlook for the future of AI might be too soon to analyze and worry about its manner. There is much time now to ensure AI safety as we merely dig deep into AI development that will showcase the future even more enthralling.
5) Limited Memory
Limited memory machines have the capabilities of merely reactive devices and learn from past data to make decisions. Nearly all present applications that we know of fall under this category of AI.
The current AI systems, like those using deep learning, are led by high volumes of training data that they save in their memory to build a reference model for solving later problems.
Let’s take a case of image recognition, AI is guided by plenty of pictures and labels to train it to name objects it scans. After AI scan such images, it then uses the trained one’s as references to know the contents of the image given to it, and based on its “learning experience” it labels fresh pictures with extended accuracy.
Almost all modern AI applications, from AR and VR to automated vehicles, are all managed by limited memory AI.
6) Theory of Mind
Theory of Mind is the X factor of the AI system to which the researchers are now involved in innovating further. A theory of mind AI can understand better the entities it gets to associate by observing their wants, sensations, feelings, and mental process.
Artificial emotional intelligence is now a thriving industry and an area of concern for leading AI analysts; thus, the theory of mind requires progress in other branches of AI as well. The need for progress is to know human needs exactly.
7) Self-Aware Artificial Intelligence
Self-aware is a self-explanatory form of AI that has evolved as a model of the human brain and provided self-awareness. To develop Self-aware AI, which is a decade old if not a century, was the ultimate goal of AI analysts.
These applications have the insight and emotions to the one’s they are interacting with and grip the wants, beliefs, and potential motives of their own as well. Although the development of self-aware AI can probably boost our growth as a civilization at a quick-fire rate, it can also be responsible for the expected failure.
Once, the AI would have ideas like self-preservation that might direct or indirect pull the end to the world. Such an object could quickly excel the ability of any human being and plot complex schemes to society.
Brainstorming Case Studies
Read some of the blueprint cases of AI which are carried by the expert analysts and researchers. Follow the below-mentioned content:
The Blue River Technology
This world-class discovery is adhered to build the next generation of smart agriculture tools. To manage crops at a root-level is the go-to for blue river tech with machine learning algorithms, enabling robots to make choices and can detect through observed data (like humans) if the crop is pest-free or not.
With plenty of data and an increasing number of modern tools to achieve healthy crops, it’s no surprise that AI-driven tech is benefiting agriculture in the best means.
Luckily, the framework for collecting data that can be used to predict weather, climate shift, water availability, and human migration models is frequently available. E.g., visual data from automated aerial means, like the quadcopter drones, can be installed to maintain the growth of pests and spread through fields in real-time.
McDonald’s 4th Industrial Revolution
McDonald’s once lacked the plan to adopt artificial intelligence (AI) to improve services. Still, there are signs the Golden Arches are evolving and enhancing its profit in the process.
In the 2017 growth plan, the stakeholders claimed to increase digital skills and the use of technology to boost the customer experience, which highlights McDonald’s preference and commitment to technology.
The low costs and high efficiencies are vital to boost a brand’s productivity, which artificial intelligence and robots can achieve for them.
Let’s discover a few unorthodox projects launched by McDonald’s:
McDonald’s gets vital buyer data about their visits to the restaurants through its mobile app. They can display complementary deals and products to improve sales when customers use their apps. Customers are also sensible enough to share their buying data through the app in exchange for ease and regarded perks to avoid bursting at the drive-thru and the counters.
Digital Menus can also provide relief to the customers and can vary through real-time data analysis. For example, on a cold, breezy day, the menu might offer some cheesy hot soup or fresh beverages for a scorching day.
McDonald’s Kiosk bots let you place the orders on a digital screen. Many countries around the world are testing these bots to give delight to their users. The franchise in France is testing out kiosk bots, where the customers place orders themselves and receive an RFID card in exchange for their order numbers. Once the order is ready, the staff person will deliver the meal to the customers through their RFID card.
AI Breakthroughs in 2020:
I. Blue Brain Project
The École Polytechnique fédérale de Lausanne’s (EPFL) Blue Brain Project is a Swiss mind research led by Director Professor Henry Markram.
The blue brain is the world’s only virtual brain. There is an attempt to build an artificial brain that can think, react, make decisions, and memorize details like humans.
- The Project Features –Neocortical Microcircuit Alliance is the study to converge neurons and synapses together as a microcircuit, which was shown as the most organic realistic copy of a neocortical line till now – the “CPU” of the neocortex. It explains the degree and the accuracy to which we can predict lost data because it reveals the first sight of the cell-like and synaptic picture of the most obscure microcircuit in the mammalian brain. It also provides proof of ideas to create huge circuits such as all brain regions.
II. Sophia -Human-AI Project
Sophia is one of the most intelligent human-AI robot in today’s world. It personifies our ideas for the future of AI and seizes global audiences’ imagination at first sight.
At present, this human-AI machine is the world’s first and only robotic Ambassador for the UNDP. Sophia AI has gained a domestic place in a society with appearances on reality shows and by addressing hundreds of people in conferences worldwide.
- The Project Features –This hybrid human-AI bot holds pioneer work in typical AI, neural systems, expert network, machine study, native language processing, and cognitive structure. Sophia can also use a striking machine study that understands human faces, emotional expressions, and different hand gestures. She can happen human feelings and emotions through her intellect and find ways to achieve goals for you. Hanson’s Sophia incorporates data from former bots such as AAAI & the Synthetic Organism Unifying Language (SOUL). The machine even has a basic form of consciousness based on data processing and its situation. Hence, many of these machine’s thoughts are made with a little aid of a human.
III. Robosen T9 Project
The T9 Features more than 3,000 State-of-the-Art Elements and 20+ Proprietary Servo Motors. It is a fusion of both Vehicle and Robot, which transforms instantly through voice or app control.
On Jan. 9, 2020, a leading AI company, Robosen Robotics, launched the world’s most ultra-modern programmatic bot, which automatically turns into an auto vehicle with a sleek and smooth movement, at CES.
- Project Features – The project is made with unique robotic technology, which has 23 exclusive chips and 22 servo motors that make it one of the most active and flexible robots ever built. T9 bot consists of the following functions: convertible mechanical movement from auto to a robot, bipedal strolling ability, & race potential in vehicle form. And the large storage enables it to save millions of programs in its virtual mind. The machine can also perform the advanced customized dancing animation and rush around in auto mode with just a button press. T9 app (iOS and Android) helps to control the bot by simple means and with the voice as well.
What would you extract from the afore-mentioned blog of artificial intelligence in the domestic system? Undoubtedly, AI’s transition to each department of human life leaves a supernatural impact to sustain the world’s growth dramatically.
But, we have to be conscious in availing the super fast leisures of machine technology, not to degrade the human power and importance with superlative innovations.
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