AI & ML to shape the future of our lives

Technology is evolving at a rapid rate and a new group of technologies is set to revolutionize the way people live and work. The best thing about technology is that it never stops evolving. We’ve seen various technologies that have impacted not only businesses but also personal lives. For example, AI and the internet collectively has led to the evolution of chatbots, and thanks to virtual assistants, they’ve become an inseparable part of our lives. AI can help understand how humans interact with software and proactively recommend ways to improve the user experience, with actions that can be taken immediately.

It’s a win for businesses, who can glean valuable data regarding technology usage and understand where the end-users are having issues. And it’s a win for the employee, who can quickly navigate the company’s tech stack, and not have to struggle with onboarding or training - especially remotely. Everything is done automatically, powered by AI and machine learning to extract data. Every year, AI surprises the world with new applications that change the way we lead our daily lives. It isn’t surprising that the global AI market is projected to reach $190 billion by 2025.

Machine learning and AI on the other hand are going to shape the future of our lives since they are being used in the 21st century global economy. Data scientists will have more opportunities to focus their attention on creating ML artificial intelligence systems. We've already seen "Sophia", an Artificial Intelligence Robot that responds intelligently to people’s questions. This will become the norm as machine learning develops in the coming years. One of the latest applications of AI and Machine Learning (a subset of AI) is chatbots.

As people continue to ditch live support agents for self-service, chatbots and intelligent assistants are booming, take Google Assistant, Siri, and Alexa, for example. Back in the day, the use of chatbots was limited to business endeavors only, but now they’ve become a part of personal and household tasks. Another significant application of AI is Big Data Analytics. In this customer-centric landscape, companies are doing whatever they can to understand their customers better. This has increased the importance of Big Data Analytics and Business Intelligence, which AI powers.

Deepak Sahu, President & CEO, VARINDIA