AI is already making our lives better:
Easy Life. Artificial Intelligence has made our life easier. Some examples are the voice assistance services of Siri and Cortana, GPS, etc.
Better Customer Engagement. AI is being used to create chat-bots. These can handle more customer issues in less time and provide solutions in a timely manner. Customers can get instant solutions which trigger increased satisfaction.
Re-structuring Business Process. Artificial Intelligence (AI) plays a key role in business decision making. AI uses Big Data and other analytical tools to identify wastage and extra processing in the business.
Cost Saving. Artificial Intelligence has enabled digital avatars in place of human beings, saving the cost of employing human resources. Machines do not require breaks like human beings and hence offer better productivity.
Medical Applications. AI is used to provide in-depth diagnostics results in less time. This helps doctors start medication and treatment quickly. Robotics can even help mental patients come out of depression, perform critical surgeries and monitor neurological disorders.
Latest trends in IoT
So what does the future hold for IoT? Researchers are quite certain IoT is going to grow at a faster rate in 2018. Some of the insights regarding IoT in the coming year are:
- More than 24 billion electronic devices will be connected through IoT by 2020.
- Approximately $6 trillion will be spent on IoT in the next few years.
- Edge analytics and cloud analytics will play a vital role while deciding IoT investments.