Top 4 Trends in AI – What To Expect in 2019

    The concept of artificial intelligence or AI technology has
    been around for a while. However, in more recent years, it has seen significant
    advancements and has contributed notably towards developing solutions for both
    the business and consumer markets. The ability of AI to process large amounts
    of data and data points makes it useful for a number of tasks that require
    elaborate data analysis. Various applications of AI have made it into our lives
    including personal assistants, smart homes, personalised news feeds and smart
    gadgets. Some of the trends that are expected to dominate the year are;

    Increased Personalisation

    In an age where businesses are ruled by the extent of customisation they can provide to customers, AI has come in unbelievably useful. According to reports, almost 56% of shoppers come back to a website if it recommends related products and displays personalised ads. By collecting and processing customer data, AI can provide useful insights. They can also suggest relevant, personalised products for users. E-commerce businesses can make use of this technology more effectively as their practices revolve around customer shopping habits.

    An excellent example of personalisation through AI are
    fitness apps, that collect data from a user’s daily eating, sleeping and
    physical activity and then suggests appropriate diets, workout plans and other
    useful insights regarding a person’s health. Social media website also tend to
    use similar algorithms to personalise news feeds and ads for their users.

    Visual Searches

    The first company to explore the tech behind image-based
    searches was Google. Ever since then other platforms have rolled out similar
    features including Microsoft and Pinterest. The Pinterest Lens is commonly
    dubbed as “a Shazam for objects” and is able to find related images to a
    certain picture. This technology also works around the concept of AI and is
    increasingly trending. Visual searches allow for a better and precise search
    for users with better and more refined results.

    AI Chatbots

    Chatbots have been the most popular application of AI, ever
    since its applications have become more widespread. Chat assistants allow
    businesses to carry out more personalised and effective customer services.
    Answering simple queries and carrying out mundane repetitive tasks has never
    been easier. The trend for implementing chatbots is expected to grow with time.
    Businesses are saving a lot on customer service as they have to hire fewer
    representatives and can address queries instantly. It saves time for both the user
    as well as a company as any complaint or question is dealt with immediately.
    They can also help people navigate a business’s services or products more

    Predictive Analytics

    Predictive analytics is another useful way for businesses to analyse customer data. It is being used to analyse consumer behaviour from their purchasing habits and is enabling effective fraud detection. The predictive analytics technology is enabling businesses to implement their Know Your Customer (KYC) requirements more effectively. KYC requirements for businesses obligate retailers to verify their customers’ identities and monitor transactions for suspicious activities.

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