Top AI Initiatives In 2020 – Wonders of Artificial Intelligence

Artificial Intelligence, commonly known as AI, has become a buzzword in the world of technology today.

The nature of the industry is such that it grows by leaps and bounds within no time. Thus, AI is no different.

From 1955, when the term artificial intelligence was coined, till today, the branch of technology has seen immense growth.

However, as the data processing capabilities were not so advanced in the previous century, the growth rate was relatively not impressive.

Post-2000s, when the high-level facilities to store and process data arrived, AI started seeing unprecedented growth.

How has the year 2020 been for AI? Let us take a look at the top initiatives in AI in 2020.

1. Revolutionary shopping experience

With online shopping becoming the norm, we have already seen a massive change in the way we shop. However, online shopping has its disadvantages.

For instance, one cannot try a piece of clothing before buying it. Also, sometimes, there are just too many options to choose from.

Intending to give customers a hassle-free shopping experience, a team from Facebook has developed a model – ‘GrokNet.’

It is an AI-based assistant that would learn the customer’s preferences and simplify their shopping experience.

Image recognition models are employed to recommend products to customers. Moreover, it displays a virtual model of the item.

Glasses, clothes, etc…, can be visualized before buying. Currently, it is deployed in Facebook Marketplace.

2. Brainbox AI’s fight against climate change

Some companies invest in solutions that help in solving or controlling concurrent issues.

Today, climate change has emerged as a burning problem. It poses a real risk to low-lying areas in the world.

Brainbox AI has developed a unique model which predicts a building’s thermal conditions and enables the autonomous functioning of a building’s HVAC system.

Apart from reducing the building’s carbon footprint and energy conservation, it is expected to provide increased comforts to the inhabitants.

3. TinyAI for faster devices

Cloud storage and migration to the cloud has become yet another trend. However, data privacy and security in the cloud remains a concern.

Tech-giants Google, Amazon, Apple and IBM have developed TinyAI – a technology through which AI algorithms can run on devices without connecting to cloud services.

The benefits of TinyAI are twofold:

• It reduces latency to almost zero as there is no interaction with the cloud
• Security concerns are addressed.

4. Human Support Robot

A discussion on AI initiatives would be incomplete without the mention of Japan. The country has always been at the forefront of disruptive innovative technology.

Human Support Robot is an AI-based assistant that can help humans by offering basic care and performing trivial tasks.

The solution was born from the collaboration of Toyota and Preferred Networks. The robot has been built such that it is not capable of accidentally hurting the user.

5. AI in entertainment

Humans are creative beings. When equipped with powerful AI tools, one can see the creativity increase manifold.

AI is increasingly being used in film technology.

In the movie The Irishman, instead of casting two separate actors for the young and old versions of a character, the moviemakers with the assistance of AI de-aged Robert De Niro’s face to create a much younger looking one.

AI has already forayed into the gaming scene. In the coming years, it is expected that AI will make an impact in the music industry as well.

6. RPA for increased productivity

RPA stands for Robotic Process Automation.

It is a branch of AI that helps automate repetitive tasks so that human employees can focus on tasks with higher priority.

For instance, JP Morgan Chase & Co has implemented COIN – Contract Intelligence, a tool that significantly reduces the lawyers’ workload.

Going by the statistics of the number of hours saved and the sharp increase in productivity, it is expected that several other companies will follow suit.

7. Breakthroughs in Healthcare

AI wave has left no industry untouched. Thus, there are wide applications of AI in the medical industry as well.

Considering the onset of the global pandemic and its repercussions, the use of AI in this field is only bound to grow.

Amazon Alexa formed a dedicated team for health and wellness in 2020. Alexa-powered apps have brought several benefits to people suffering from various conditions.

Consider Sugarpod – a plan to help diabetic patients to incorporate new activities in their routine for a healthier lifestyle.

Summary

As more companies gear up to invest in AI-based solutions, the AI wave shows no signs of slowing down.

From automating minor tasks to helping detect deadly diseases, AI is capable of doing it all.

Some experts predict that the future may see a situation where incorporating AI in an organization’s operations may no more be a choice.