Until a little time back, China was way behind America in this rat race of leading the Artificial intelligence market, but in the recent times, it has managed to come neck to neck with the nation. A recent report by MIT listed the Chinese AI giant Baidu as the world’s no.2 in this sector ranking after Amazon.

Below listed are some reasons for this advancement-

Major Reasons: -

  1. Investment: -

The Chinese government has recently pledged to invest a massive sum of 2.1 billion dollars in the AI sector and launch one of its kind AI industrial park in this year. It aims at locating four-hundred AI firms in the 55-hectare industrial park which is to generate an estimated income of 50 billion yuan annually.

Whereas there is no provision for an increase in the funding for research developments in AI in the United States budget.

This is a graph representing the number of robotic patents files by different countries, China can be easily noticed leading the way with over 3000+ patent applications which have surpassed the U.S. by a vast difference of over 1500 applications.

       2.Talent and Development: -

The Chinese AI companies have been very successful in managing and acquiring talented personnel for their hi-tech companies. Plus, their top quality of training and developments that are provided by them really makes an impact on the productiveness and quality of work.

  1. Competitive nature: -

The country’s never give up nature really helped it find its flow which has led to an incomparable research that the companies are able to do to provide useful innovations in the technology to lead the market.

  1. A huge supply of Data: -

Because of the weak state of the country’s privacy laws, many big giants are able to track down customer data fairly easily and add them to their database of millions which helps them in having an almost endless supply of citizen information which is very useful for the research of AI as innovations and inventions only matter to the people when they are of any use and this use can be figured out from the collected data.

  1. Larger audience: -

The Chinese innovations and inventions have a larger audience to cater to which gives them a more detailed review and feedback which helps in better developments and provides a direction for research which lacks in America as their population is way less.

  1. Upcoming firms: -

Beijing being the head of all the AI activity in China is witnessing and promoting the upcoming of new AI-based firms by various methods such as grants, data, intelligent personnel, external help etc. Their help has significantly raised the number of AI firms in China.

With the nation’s continuous endeavour in becoming the tech superpower by the year 2030, it is safe to say that China’s copying days were a past now and they are paving their path to lead the industry by an example really soon.

 

Link: - https://www.nature.com/articles/d41586-018-00604-6

https://www.ft.com/content/856753d6-8d31-11e7-a352-e46f43c5825d

http://www.digitaljournal.com/tech-and-science/technology/start-up-says-china-leads-many-areas-of-ai-development/article/511658

https://www.nytimes.com/2017/05/27/technology/china-us-ai-artificial-intelligence.html

https://www.weforum.org/agenda/2017/11/the-us-is-losing-to-china-in-the-ai-race

Artificial intelligence

In simple terms, artificial intelligence is the intelligence showcased by machines. It focusses on developing machines and bots that work and act like humans but are far more efficient and productive than them. This industry has seen some massive developments in the recent years which has resulted in the spread of word of this technology and it being adopted by tons of people and companies.

Levels of Artificial Intelligence

For easy understanding, Artificial intelligence is normally divided into 2 groups which are quite easy to understand by their names itself

  • Strong And Weak Artificial Intelligence

The basic difference between The Strong A.I and The Weak A.I is the explanation of the intelligence reports. A strong A.I not only thinks and provides the results but can also provide the proofs of the thinking but a Weak A.I could only provide results.

  • Narrow And General Artificial intelligence

As the name suggests, Narrow AI is specially set up to perform a certain kind of tasks whereas General AI has no specific objectives.

A.I in the current time is a need but a threat too, as said “A coin has 2 faces” A.I if used for good purpose may land you up in levels but would also cause threat if in dangerous hands.

Advantages of A.I

A.I have numerous Advantages but some of the basic and most important ones are mentioned below: -

  • Personalized Learning – The students are the future and this future nowadays is gadget-filled, For which A.I is a basic need for their better understanding of the work. A.I help the People to learn by themselves and become their own master.
  • Faster Decision- As A.I is a computer in layman’s term, it provides you with the results of any of your problem faster than any human.
  • Avoiding Error- NO human can Guarantee NO Error but yes Here is another Advantage of A.I which gives you an Error Free Report.
  • Increases Productivity- the work here is done by programs which are way faster than a human who helps it to complete more work in less time which will eventually increase productivity and will help to submit faster with more effective and efficient results.

 

Disadvantages of A.I

The coin is turned and here is the time for some disadvantages in comparison to the above positives: -

  • Cost- The programs are usually of high valor and not in reach of everyone’s friendly pocket.
  • Addiction- Daily use and dependency on A.I leads to its Addiction which pulls you from working and takes you to Technology Addiction.

 

As we can see the Percentage of Advantage is way more than disadvantage which makes a mark of creating new opportunities and ways of jobs in the market rather than slowing down the market. As the rate of Pro’s are taking over the Con’s, the personnel practicing A.I will be in high demand. A.I have already been asking attention and if people grab the opportunity at this very right time there is more success on their way ahead waiting for them.

Links-

https://en.wikipedia.org/wiki/Artificial_intelligence

https://www.arrkgroup.com/thought-leadership/artificial-intelligence-the-advantages-and-disadvantages/

https://www.livetiles.nyc/blog/pros-cons-artificial-intelligence-classroom/

Artificial Intelligence has taken over the market in the past year of 2017 and is all set to continue the hype in 2018 as well. As new industries continue to adopt this technology, this year will mark a milestone as efficiency increases which will result in increased sales and revenue.

Below listed are the top 20 trends to keep a look for in 2018.

 

  1. Logistics: -

Many big giants like Amazon and Kiva systems are setting an example for other companies in Logistics by managing massive warehouses with a combination of human as well as Artificial intelligence.

This has led to an increase in the efficiency of the process which leads to better customer satisfaction and increased brand loyalty.

  1. Self-driving cars: -

 The end of 2017 has seen a ton of concept electronic self-driving cars by various companies like BMW, Audi, Mercedes, Nissan and many others. This is a new trend that will change the automotive industry and will lead to a cleaner and lower pollution levels.

More and more companies are predicted to follow this move and keep up with this new technology.

  1. Healthcare: -

There have been some major developments in the healthcare industry since the onset of artificial intelligence which is expected to be on a rise in 2018 too. Development of Chabot applications which advices the medicines and the treatment to be received, better analysing and faster treatment of the diseases have saved tons of lives, all thanks to AI.

  1. Increase in customer-care bots: -

Replacement of human beings with bots in the customer care segment for providing round the clock and better assistance to the customers has been a very common phenomenon in the previous years. Not only this has increased the customer satisfaction but has also helped the companies to save money.

This trend is predicted to be on a rise in the New Year and the companies continue to add more and more bots in their operations for increased efficiency.

  1. The rise in the demand for data scientists: -

As more and more of this technology continue to conquer the market, more will be the demand for the people who are expert in the development, programming and operation of this technology that is data scientists. The New Year will mark a rise in the need for data scientists in all the companies who adopt this new technology.

  1. Machine Learning: -

Machine Learning focusses on providing the ability to learn to the machines without any human intervention. At present, there are various such platforms open to help businesses and companies.

 The year 2018 will mark a huge boom in this sector and more and more companies are getting interested in it and the continuous developments like the Cloud learning etc. are on a rise.

  1. Natural Language Recognition: -

Understanding and interpreting the natural language that we humans speak is the biggest challenge of artificial intelligence which has seen some serious developments in the past year.

The developers are on the move to continuously improve this technology and make it as simple as possible for everyone to use.

  1. Data Analysis: -

With the impressive capability of artificial intelligence of analysing vast volumes of data in literally no time as compared to the humans is what sets it apart. As new methods of data collection and analysing are developed, this industry is expected to witness an increase in the efficiency and productiveness of work yielding to quicker and error-less results. 

  1. Machine Vision: -

One of the most exciting segments of artificial intelligence is Machine vision. Providing the machines ability to see and learn from their experience just like humans will be probably the biggest development of humans in AI.

Those will lead to better image recognition and less time and cost for trading models.

  1. Cloud Integration: -

From the start of the New Year i.e. 2018, cloud providers will be majorly focussed on integrating the artificial intelligence into their operations for services like data management and analysis etc. There is a speculation in the market that after this integration, the cloud will be able to provide more storage space as well as be more efficient and quicker in the processing.

  1. Improvement in online security: -

As more and more businesses strive to get their presence online, the risk of cyber attacks has been on a rise. Attacks like Ransomware attack which shook the whole nation etc. With the linkage of AI for an additional layer of security, the internet will surely didge maximum of such attacks as AI is omnipresent on the net and monitors each and every aspect.

 Plus with the help of deep learning, it will familiarize itself with new risks and immunize itself from them.  

  1. Personalized experience: -

With the use of smart AI-based personal assistants like Siri, Cortana etc. every person is able to manage their work more efficiently and productively. The integration of machine learning through an update in these assistants will lead to customer behaviour understanding and analysis which will help in better service.

  1. A boom in the Robotics sector: -

Even before the upcoming of AI, the robotics industry was still able to develop and manufacture robots. But, with the development of AI into the manufactured robots, there will be a ton of new changes like they will become smarter, efficient, easy to use and interact with etc.

The robotics industry will see a boom in terms of both quality and quantity in the New Year.

  1. Social responsibility and ethics: -

From the past year, there has been continuous statements and discussions about integration stoical and ethical values n AI so that it will be able to combat certain data like fake news etc.

There has been developments and demos on how it can be integrated and this year is the year of expected results.

So this concludes the top trends to look out for in the year 2018. If you think we have missed something, do comment them in the comment section below.

LINKS: -

https://www.entrepreneur.com/article/307589

https://www.oreilly.com/ideas/5-ai-trends-to-watch-in-2018

https://www.lanner-america.com/blog/top-10-artificial-intelligence-trends-2018/

https://www.inc.com/james-paine/5-ai-trends-to-know-in-2018.html

 

The marketing and advertisement industry has been the fastest to adopt artificial intelligence and use it in their operation. This has resulted in the first mover advantage of many such firms whose businesses have now sky-rocketed.

Below, we present you the advantages or benefits of using AI chatbots for marketing: -

 

  1. Personalized Experience: -

Chatbots help create a personalized feeling in chats with customers and clients as they are ready with the solution and respond almost immediately. Plus they have custom answers for each and every person.

This helps to increase the satisfaction of the customers which leads to better service and better brand loyalty, ultimately leading to better revenues.

 

  1. Analysis of customer data: -

 Chatbots specialize in deep learning technology and hence are experts in interpreting and analysing the customer’s data for leads. It can easily detect the products that the customer was searching for online, or the news etc. and provide similar recommendations.

Plus, this also helps them in analysing the future demand of the customers leading to potential sales.

  1. Ease the payments: -

Nowadays, Chatbots have updated their software’s to be able to accept payments for orders and services etc. from the customers. This revolutionizing step has really helped the companies to grow their revenues and have eased the hectic online payment method which the customers refrained from.

Now people are more open to online payments directly through such chatbot applications than the traditional manner.

For eg.- Now, whenever you chat with your mobile service provider for packages and offers, they have a special arrangements for instant payment and instant recharge through the chat box itself. You need not go to their site anymore.

  1. Social Presence: -

With the growing presence of brands on social media platforms, the customers now feel more connected and updated with all the information. With the help of a chatbot marketing assistant, brands are now getting a strong social presence in the market which attracts more customers, potentially leading to increased sales.

  1. Higher Conversion rates: -

With the help of the information that the chatbots collect about the customer through applications and data search patterns, the companies can properly design personalized marketing strategies which may persuade the buyer in the right directions, leading to better conversion rates.

This also helps in restricting the annoying marketing and promotional emails that the customer receives.

  1. Feedback: -

The most important thing for a company to grow is ‘Feedback’ from the people, from its customers on way to improve the service or the product.

This can be achieved with the help of chatbot messaging applications. The bot can be designed to ask the customers a few simple questions that will help the developers provide an insight on how to optimize the site to provide a better customer experience.

  1. Economical: -

Employing chatbots for various platforms is far economical than hiring customer service people and making them answer each and every query. The companies can save a ton of money that can be put into better operations.

Plus, with the use of Chabot’s, they can be present online round the clock ready to answer the customer doubts and problems as and when they arise.

With the above stated benefits, many companies have reached new heights and are continuously exploring new opportunities for growth.

 

LINKS: -

https://chatbotslife.com/10-benefits-of-adopting-chatbot-marketing-to-your-business-6b4f3da1b042

https://www.entrepreneur.com/article/286079

https://theappsolutions.com/blog/marketing/benefits-of-chatbots-for-business/

https://www.exastax.com/artificial-intelligence/top-7-benefits-of-chatbots/

Artificial intelligence is the new market trend that every business and industry is trying to adopt and explore benefits that it has to offer. Many sectors have already accepted this new technology and are reaping the benefits of their investments in the form of increased sales, more profits etc.

Today, we are going to talk about the top ten consultancy and business solution firms that have taken a step in the AI sector.

  1. AVISO: -

As stated by the companies CEO “with Aviso, sales executives and sales operation leaders take control of sales performance and make informed decisions that accelerate sales growth”. Aviso is an AI based consultancy firm that provides their service of sales forecasting, prediction of changes in tastes and preferences based on market trends etc. to other companies helping them to dodge every bullet that comes their way.

Their service helps the sales managers to make informed decisions leading to minimal losses and accelerated sales.

Link: - https://www.cioapplications.com/vendor/aviso-forecasting-and-sales-visibility-accelerating-sales-growth-through-ai-cid-464-mid-36.html

  1. JASK: -

With the increase in the use of technologies like cloud, it has become really insecure for the companies to use the online services as there is always a risk of cyber-attacks on the information. Seeing this as an opportunity, Greg Martin the CEO, along with some other friends founded Jask which is an AI-based cybersecurity company.

The software learns in the form of Machine and deep learning and familiarizes itself with every new update and virus that comes into existence.

Link: - https://www.cioapplications.com/vendor/jask-cyber-security-operations-amplified-by-machine-learning-ai-cid-467-mid-36.html

  1. ZOOMI: -

Founded in 2012, Zoomi is a one-of-a-kind AI and machine learning based company that helps in better and more efficient learning and training of the students. The software alerts the instructor when and where the students get disinterested and work in that direction to make it more interesting in order to improve their learning.

Further, it is capable of recording the users learning style and providing solutions to improve them.

Link: - http://zoomiinc.com/

 

  1. MATCHBOX.IO: -

As innovative as the name sounds, matchbox.io is an artificial intelligence based company that helps various other brands in marketing and forecasting the demand and trends of the customer with the use of deep learning and analysing the customer’s purchases and needs.

Further, the brands are now able to personalize messages for each and every customer which leads to increased loyalty and rise in the revenue.

Link: - http://matchbox.io/

  1. CRUX.IQ

Justifying its name, CruxIQ is a company that helps the customers by analysing their legal contracts and terms and conditions and provide them with the crux or the important details of the matter that they need to keep in mind.

This software has a perfect application on platforms where there is tons of information available and the person only wants to find and read the crucial facts.

Link: - http://www.cruxiq.com/

  1. SWIFTIQ: -

Founded by Jason Lobelin Chicago, SwiftIQ provides data management and analysis services to big retailers to help them improve efficiency and performance. Artificial Intelligence helps the company to analyse the customer data and form various strategies like pricing, promotions and discounts etc.

Link: - http://www.swiftiq.com/

  1. LOCUS.SH: -

Locus.sh has transformed the logistics management sector for the companies by using their one-of-a-kind AI based technology that enables the companies to fulfil their delivery promises to the customers in less than the promised time.

Features like on map tracking of the package, intelligent dispatch solutions as well as insights are some other features.

Link: - https://locus.sh/

  1. FILLR: -

 Although mobile has emerged out to be the largest used device for the e-commerce and product browsing purposes, it marks a conversion rate of a mere 15 percent of the total operations. A major reason is the time constraint as well as typing on the virtual keyboard which is quite small in size.

The AI based company, Fillr provides services like auto-filling the forms with already-recorded customer data which saves a ton of time and effort and enables the companies to have a higher conversion rate leading to higher sales and better revenues.

Link: - https://artificial-intelligence.cioadvisorapac.com/vendor/fillr-driving-conversions-with-autofill-as-a-service-cid-102-mid-15.html

  1. LODGIQ: -

Being a one-of-a-kind in the industry, lodgIQ provides useful insights into the hospitality industry and revenue management which enables the companies to predict the market trends, set the right prices and recognize opportunities and threats and take respective actions.

In other words, LodgIQ helps the hotel management by providing them with the market insights.

Link: - https://artificial-intelligence.cioadvisorapac.com/vendor/lodgiq-simplifying-revenue-management-for-hoteliers-through-machine-learning-cid-113-mid-15.html

  1. BRIN:-

With over 50 million businesses failing each year, Dale found Brin which is an artificial intelligence based application that provides advice and solutions to millions of businesses at the same time and at minimal costs.

This saves a lot of time as well as finances of the start-ups giving them a better guidance on how to get your businesses off the ground.

Link: - https://artificial-intelligence.cioadvisorapac.com/vendor/brin-bringing-the-world-of-artificial-intelligence-to-small-business-owners-cid-93-mid-15.html

Hope we have covered some good ones,If you need any AI Consulting and Solutions from Best in the world,You can reach us for best quotes and quality services on our platform.

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