Three Primary Elements Highlighted During the Summit:
- The number of active AI startups found since 2000 has increased 14X times.
- Jobs that require AI skills have scaled up to 4.5X since 2013.
- The number of venture capitalists pitching for investments in AI startups has increased up to 6X since 2000.
Interestingly, there were 5 important AI technology growths in startups to watch out. These hold the power to change the global trends.
Cyber Defense:
In 2017 alone, close to 2 billion records were breached according to the breach level index. 76% of data records were accidentally lost while 69% were identity thefts. A combination of AI and ML, Cyber defense is a supervised learning technology. The technology receives a sequence of inputs from neural networks. These inputs form the basis of the process of behavioral analytics. The AI algorithms used here can detect 85% of cyber-attacks, stop malware and uncover suspicious activities.
Knowledge Worker Aid:
The fear that AI will replace workers in any typical environment is palpable and is a growing cause for concern. However, Knowledge Worker Aid: I is a living proof that AI has a potential to help the employees in knowledge-based work such as hospitals, the legal profession, and share market. Today’s AI platforms come equipped with diagnosis and analysis tools where there is a heavy reliance on critical thinking. These techniques are not IT tools per se. They are wholly designed to improve the efficiency to process the vast amounts of information.
Automated Marketing:
AI and New technology growth have fuelled advancements in the marketing industry, and there is a great investment of faith now. Marketing automation enables the companies to increase the engagement with users, resulting in faster revenue. It creates 55% higher impact than social media, which is no surprise. AI empowers marketers to super optimize their campaigns and manage multiple platforms in a pocket-friendly budget. The latest AI trend in marketing involves 480 daily adjustments made for 20 different demographic groups per ad.
Compliance Regulations:
Compliance is a certification or authorization offered for a person or an organization which meets the demands of legislation, regulations, standard contracts, accepted practices and other in-house rules to follow. AI here applies deep learning technology to uphold the significance of the industry. The compliance solution focuses on comprehensive automation such as identifying keywords, customizing based on the company information provided and so on. This technology also enables the determination of risk coverage on compliance using predictive analysis while scanning patents, finding fraudulent transactions and tracking volume of transactions.
Emotion Recognition:
Reading human emotions is now possible with AI new technology growth. The machine has an advanced algorithm to process images and audio. It even captures micro-expression, vocal intonation, and body language. This technique is being widely leveraged by marketers. Based on linguistic analysis and/or video input, AI helps understand the level of excitement people have in using a given product and gain real feedback. This application is also popular with law enforcers who can detect more information during the interrogations.
Wrap Up:
The AI index of Stanford University concludes that we’re essentially “flying blind” in our conversations and decision-making related to Artificial Intelligence.
