If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
In today's so-called smart era when everything is getting virtual, the implementation of Artificial Intelligence in e-Commerce is a remarkable movement towards progress. By adopting the AI technology, e-commerce businesses are creating a boom in the market. Artificial Intelligence is somewhat a challenge to the creative power of a human being. It aims to achieve something which at times becomes tedious for human employees. With the right coding, it learns faster and better than compared to humans. The absence of emotional issues and health-related restrictions allow it to think logically and perform better. It has the power to detect any fraudulent activity which might be overlooked by humans. For a strong understanding of the behavior of human users and to provide the customers with a satisfactory experience, the e-commerce companies are reportedly adopting the new AI technology. Artificial Intelligence in eCommerce has now emerged as an individual business solution and is dominating the market. Now the question lies in the part that how are the business companies improvising this unique and innovative technology? Many a time, the sales team fails to keep track of the leading products and services in the market and hence could not impress potential buyers who might have an interest in the item.
It is fair to say that technology has had an impact on our everyday lives. Whether for personal or professional use, we seem to use new technologies every day to communicate with our friends and co-workers, shop for groceries and get things done at work. New technologies like artificial intelligence (AI), the internet of things and others have gained popularity and momentum in the last couple of years as more and more people have access to the internet, mobile devices and applications. Among these technologies are chatbots. Having been around since the late 1960s, chatbots are in no way a new technology.
Conversations with customers have become the need of the hour for businesses. Now we are witnessing a paradigm shift from mass-centered to granular, account-based approach. Banks and other financial institutions, who work closely with customers and rely heavily on customer relationships, have always leveraged technology to assist them. First, it was internet banking in the late 90s, then mobile banking when the smartphone revolution took over the world. Now, with the advent of AI and machine cognizance, conversational banking is on the rise. Conversational banking is nothing but communication between a bank and its customer through text, voice or visual interface. It adds that extra touch of personalization in customer relationships. Conversational banking, though highly effective, comes with the hardship of effective implementation given the sheer volume of customers banks serve (or any B2C business for that matter). That is why AI becomes extremely important in conversational banking.
Today we want to go a step further and implement product recommendation as well. Product recommendation are widely used and are implemented using so called Recommender Systems. There are different ways of implementing recommendations like those we can see on Amazon or Netflix for example. In our case, we will use a multi-class classifier that depending on the answer provided by the user, it will select the product with the highest probability. Using a classifier allows us to avoid having to store past customer behaviour to train the model.
Virtual Assistants have a huge potential in transforming business processes, like cutting down costs, training employees etc. However, it brings some challenges, along with its benefits. Will the CIOs able to overcome it? FREMONT, CA: A virtual wireless assistant is basically an engineered entity embedded in software that communicates with humans in the natural human language. This technology embodies components of communicative voice response, and other advanced artificial intelligence (AI) projects to offer skillful "virtual identities" that interact with users.
We cannot deny that this technology has made its place in many people's heart. But still, we will tell you a brief introduction to machine learning. Machine learning or ML usually defines as an application of Artificial Intelligence. It has the ability to make computers predict something automatically. There are two major types of machine learning algorithms.
The core technologies that have enabled the rapid progress and swift adoption of smart virtual assistants include NLP text mining, Voice Analytics and Machine Learning. NLP text mining analyzes and derives insights from the written word, enabling virtual assistants to understand whether the customer's feedback is positive, negative or neutral. Voice Analytics utilizes speech recognition software to extract useful data or detect stress in a customer's voice, enabling the virtual assistant to engage proactively and appropriately. Machine Learning, meanwhile, enables the virtual assistant to perform the cognitive functions typically associated with the human mind, such as understanding, reasoning, problem solving, learning, and even interacting with the surrounding environment.
Chatbot applications AI chatbot: Which chatbot application is right for you? Recently, new tools designed to simplify the interaction between humans and computers have hit the market: Chatbots or Virtual Assistants. In banking, chatbots and virtual assistants are some of the industry's newest tools designed to simplify the interaction between humans and computers. A chatbot is an artificial intelligence (AI) software that can simulate a conversation (or a chat) with a user in natural language through messaging applications, websites, mobile apps or through the telephone. A chatbot is often described as one of the most advanced and promising expressions of interaction between humans and machines.
Artificial intelligence is a trending technology from quite a few years now. You must have heard a lot about it in tech news and blogs. There are various predictions about the future of Artificial intelligence but have you ever been keen to about its initial stages? In contemporary times, AI along with its subsets machine learning and deep learning are ruling the innovations in the software industry market. In fact, the magic of AI is such that 41 percent of consumers are expecting that their life will change with AI in the future.
Artificial Intelligence (AI) has been a key topic in the technology industry and continues to trend in the media with the adoption from a variety of sectors and disciplines. From banking and financial services to healthcare and life services, the implementation of AI continues to prosper as AI assists in increasing efficiency, improving customer experience and growing revenue. With this in mind, it is interesting to consider how methods of data analysis can further increase opportunities and lower risks for all industries on a global scale. The composition of AI is incredibly detailed and so for this particular blog post, we will be focusing on one specific subset of AI - machine learning (ML). Machine learning is a method of data analysis that essentially trains a machine how to solve a problem.