3 Artificial Intelligence Trends to Watch for in 2017
Using deep learning technology, Manindra Majumdar is creating an artificial intelligence (AI) enabled image search engine called Go Find that fashionistas can use to locate a clothing item with just the touch of a photo upload to their cellphones.
“If you see a red dress or pair of shoes on Instagram and don’t know the brand, you can search it with images on GoFind and the app will give you a list of nearby stores where you can buy it,” Majumdar told Newsmax.
Within the world of contextual search and e-Commerce, Go Find allows anyone to find products across thousands of stores using advanced image and natural language search.
“It’s affiliated information basically where we have contracts with retailers that pay us when people buy their clothing items,” said Majumdar. “We get dollars for the clicks or the purchase and other brands play a role by advertising a similar product at the point where some one is searching by image for a specific clothing item.”
Go Find falls under the category of both reactive and limited memory AI machinery where when a human makes a move the technology calculates the best response to make in return. The engine remembers the brands and types of products a user selects and retrieves better search results in future searches.
“This is just the tip of the iceberg as to what’s possible with AI technology,” said Zac Carman, CEO of ConsumerAffairs. “The next wave is self aware AI and Sentient AI that recognizes human emotion and responds as well as ambient intelligence machines that can sense the human presence and respond according to programming.”
According to a Bank of America research report, AI will lead to cost reduction and new forms of growth that could amount to up to $33 trillion annually. That’s enough to make you wonder what’s on the horizon. Below are three emerging trends to be aware of as AI swoops in.
1. AI will fuel a rise in subscription based revenue
Open source technology will facilitate the rise of the subscription revenue model among brands on social media as artificial intelligence enables devices such as washing machines and dishwashers to be aware enough to know when refills of dishwashing liquid need to be activated and purchased.
“Because of AI, devices will lock in a purchasing relationship that normally wouldn’t be there, which is profitable for manufacturers and convenient for consumers,” said Glenn Platt, professor of marketing and interactive media at Miami University in Ohio.
As more companies move away from one-time purchasing and towards subscription business models, the network effect creates more value for products and services that are enabled to talk to devices.
“In collaboration, Internet of things products and services have greater value than they would individually,” Carman told Newsmax Finance.
Once social media is integrated, consumers will receive tweets on Twitter or posts on Facebook that will announce on a family’s tablet, iPad or individual’s smart phone that a car has arrived at their destination or that the station wagon needs an oil change, for example.
“The AI that automatically connects to Amazon and makes a purchase when the oil in a car or laundry detergent in a washing machine has lowered to a certain point isn’t complicated at all,” said Carman. “It’s one of the simpler forms of AI.”
2. Messaging apps featuring chatbot customer service
Although Twitter is already being used by companies, such as Sprint, Hyatt and Hertz, to address customer service complaints via direct messaging, what’s new in 2017 is the emergence of automated responses by bots, an early form of artificial intelligence technology that allows social media users to ask customer service questions from messaging platforms such as Facebook Messenger and Slack.
“While Bots and their automated responses help customers with an order or to solve a challenge, it saves companies time and money,” said Ruth Arber, vice president of strategic accounts with Adaptly, a marketing technology and services company.
Once customer service by conversational interface picks up traction, it will shift entirely from Twitter to messenger apps more permanently. According Gartner, that’s only about four years away. AI bots will power 85% of all customer service interactions by the year 2020.
“Automated responses on Facebook Messenger would eliminate the need for a team of social media monitoring on Twitter,” Carman said.
3. Sentient AI entities will emerge
Sentient AI is a robot that sees tears on a customer’s face and tailors its response to that emotion. Although sentient AI is not quite self aware, the closest to that is already somewhat in existence are 3-D hologram-like virtual assistants.
A 3-D hologram is a silhouette of a human armed with programmed artificial intelligence, mood detection analysis and voice recognition.
“These hologram-like entities embody a combination of template, reactive and limited memory AI similar to the Roomba, which is a small vacuum cleaning robot that can remember where in the room it has already cleaned up,” said Christopher Martinez, an associate professor in the Department of Electrical and Computer Engineering at the University of New Haven.
For example, Gatebox, a Japanese company, introduced a 3-D character called Azumi Hikari complete with a chatbot to act as a virtual assistant much like the fairy named Wendy who buzzed around Peter Pan.
“It will be a few more years before holograms become mainstream, but once they are launched we can expect these AI-armed silhouettes to replace counter clerks at hotels, airports, rental car companies, fast food restaurants and any other industry that employs customer service representatives,” said Carman.
The use of holograms and artificial intelligence is expected to lower the cost of customer service over time since companies will earn more money from higher levels of customer satisfaction and the increased ability to cross sell.
The original article can be found on Newsmax.