Artificial Intelligence (AI) is one of the fastest-growing fields in technology, with researchers and developers working tirelessly to create ever more advanced machines. One of the most exciting developments in recent years has been the rise of generative AI, which has quickly captured the imagination of tech enthusiasts and industry experts alike. This new technology promises to revolutionize the way we interact with computers and has the potential to change many aspects of our lives. One of the most significant areas of development in generative AI has been the creation of AI chatbots. These chatbots are capable of answering questions, completing tasks, and even engaging in conversation with humans.

Digital health startup Infermedica today nabbed $10.25 million to further develop its platform for symptom diagnosis. The company, which claims to have performed more than 6 million health checks to date, says it will put the proceeds toward R&D and international expansion in the U.S. and Germany. The demand for triaging solutions has risen substantially as the coronavirus pandemic rages on. Millions of patients wait at least two hours to see a provider, according to a study published by the U.S. Centers for Disease Control and Prevention (CDC). In response, tech giants including IBM, Facebook, and Microsoft have partnered with governments and private industry to roll out chatbot-based solutions, as have a number of startups.

In 2016, the enthusiasm for chatbots knew no limits. For example, according to a survey by Oracle, around 80 percent of all decision-makers in companies assumed that they would be using chatbots in sales, marketing, and customer service by 2020. And according to another prediction, more than two-thirds of all office workers should be interacting with chatbots on a daily basis by 2020. So where are we at right now and what can we expect after the chatbot hype? Download our free e-book to learn everything you need to know about chatbots for your business.

Front- and middle-office AI applications offer the greatest cost savings opportunity across banks. Banks are leveraging AI on the front end to smooth customer identification and authentication, mimic live employees through chatbots and voice assistants, deepen customer relationships, and provide personalized insights and recommendations. AI is also being implemented by banks within middle-office functions to detect and prevent payments fraud and to improve processes for anti-money laundering (AML) and know-your-customer (KYC) regulatory checks. The winning strategies employed by banks that are undergoing an AI-enabled transformation reveal how to best capture the opportunity. These strategies highlight the need for a holistic AI strategy that extends across banks' business lines, usable data, partnerships with external partners, and qualified employees.

Search engines are the core of the Internet. We've only interacted with computers since the 1970s; speech and language have been our primary learning mechanisms for up to 100,000 years. That's why the ascendance of smart chatbots and voice assistants (powered by AI) is so exciting. Now, we have a natural, user-friendly and almost'human' way to instantly interact with the Internet. All you need to do is ask your device a question, and it will read the best answer back to you.

This story was delivered to BI Intelligence Apps and Platforms Briefing subscribers hours before appearing on Business Insider. To be the first to know, please click here. AI-powered chatbots and voice assistants are still nascent technologies, but they're starting to gain traction in the workplace, according to a report from Spiceworks. The report, which included responses from 500 IT pros in organizations across North America and Europe, found that on average over 29% of organizations have either implemented one or more AI-powered chatbots or voice assistants for work-related tasks, or plan to do so in the year ahead. Adoption of the tech is skewed toward large organizations, with 40% of large businesses expecting to implement at least one AI-powered chatbot or voice assistant on corporate devices within the next 12 months, compared with 25% of mid-sized companies and 27% of small businesses.

Keeping up with all the news about new and improved chatbots is becoming close to impossible, and AI is still not there to summarize it all for us. Recent developments include Amazon bringing out in quick succession the Echo Look and the Echo Show, aiming to improve further its commanding 70% market share (for more on this, see below). Google showed off its AI prowess and raised the stakes by allowing up to six different voices to control Google Home and Microsoft teamed up with Harman Kardon to produce a voice-activated speaker featuring Cortana. But the rush to the new voice frontier is not limited to the battle for the smart home and established enterprises are on the voice wagon in full force. At a recent fintech conference, Bank of America executives talked about Erica, an AI assistant it will introduce later this year, allowing consumers using bank's mobile app to chat via voice or text message.