AI to take over various sectors in 2020
Have you ever thought that programming (computer software) can learn and make decisions? It is significant that we should be aware that the processes are growing exponentially over time. Because of these two factors, AI systems can now fulfill many tasks that are performed by humans.
For the past few years, the growth of Artificial Intelligence has been increasing exponentially. AI-based systems are now being used in day to day activities to help humans. Increased efficiency and significant improvements in AI technology continue to grow. Now, let’s find out the areas that AI is going to impact in 2020.
AI in Retail to enhance customer experience
In recent years, AI has been playing a crucial role in the retail business, right from small, local stores to e-commerce solutions have been developed. With the help of effective online strategies only it is possible. Now Amazon is a strong player in the online retail market. It has also begun incorporating new technologies like artificial intelligence to venture physical retail stores.
In January of 2018, Amazon started its first high-tech grocery store that does not require a traditional checkout. This has been possible because of some AI technologies similar to sensor fusion, self-driving cars, computer monitoring.
Digital IQ or Deep learning processes tools are the technologies used to run robots. These robots are infused within the store, to detect which product is removed from the shelf, and what items are added to the individual’s Amazon account. This model has helped the store in managing inventory, product shelves in order, and scrub floors. By this customers started experiencing a unique shopping procedure which is easy, efficient, and fast.
Over the next few years, we’ll get to see many of these grocery stores running automated technologies. The other new edition of automated payment systems is biometrics. AI is truly transforming the way in operation retail stores. Currently, biometric systems are being used in airports to scan fingerprints and to unlock mobile phones.
However, facial recognition has gained popularity in the market and is likely to get implemented in the future. With the help of analyzing sensors’ observation, your facial expressions are examined to create personalized promotions.
AI to be an addition to Robotic Process Automation
Based on the recent survey study by the McKinsey Global Institute, it is anticipated that nearly half of the office work or computer tasks will be performed by robots in the next few years. AI integrated automation bots will automate all kinds of repetitive routine tasks.
Al bots are going to increase productivity immensely thereby saving a huge amount of money. COIN (Contract Intelligence), is the latest AI bot used to interpret and review commercial loan agreements in just a few seconds. This is a replacement for performing the kinds of analyses that would take a few hours to complete. By this robots integrated with AI technologies are going to replace the majority of white-collar workers.
Several experts in this field state that robotic automation will be a part of the organization where analysis of data and trends is required. The sector includes Finance, healthcare and retail, and other sectors that rely on analytics and trends.
AI is now being a part of every industry right from the small, medium, and large. It is going to impact a larger portion of business in the coming years. AI-enabled bots will be the first front liners. AI will continue to trend as it has a lot of dimensions to explore.