Artificial Intelligence are computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, etc. It is possible for machines to learn from experience, adjust to new inputs and perform human-like tasks.
Machine learning focuses on the development of computer programs that can access data and use it learn for themselves without human intervention or assistance and adjust actions accordingly.
The Internet of Things (IoT) is the network of devices, embedded with software, sensors, and connectivity which enables these objects to connect and exchange data.
AI, Machine Learning and IOT has measurable and proven value to any business whether it is in the area of e-commerce, manufacturing, retail, fintech, media, healthcare or marketing. Amazon uses robots extensively in its warehouses for inventory management. The value goes far beyond reducing cost and time.
Artificial intelligence (AI), despite so much of fuss, is still a young industry with thousands of start-ups and a very few companies reaching a stage of maturity. Majority AI companies are early stage start-ups drawing attention of investor community and entrepreneurs.
It will take a while for public acceptance to bring automated cars into widespread use. We are already seeing the beginning of self-driving cars. Tesla is the most trusted brand for self-driving cars. Both Tesla and Waymo are attempting to collect and process enough to create the car that can drive itself.
Some ambitious entrepreneurs are seeking to build an artificially intelligent assistant that's even better than Apple?s Siri. Jarvis Corp, a startup, which so far, is building a virtual assistant that can act as a control for all the connected devices in a house, and as an internet server.
There are already many start-ups in this area trying to develop smart chatbots which can understand the emotions and act on them.
This space is under the advanced research and presents ample opportunity for entrepreneurs and investors. IoT has enabled the advanced prediction, automation maintenance service, and parts delivery in cost efficient manner by avoiding human interaction. Nest is a smart home solution provider. Its device learns the regular temperature preferences of its users, and also adapts to the work schedule.
Specialization in AI is starting to take shape in the PE/VC world. According to them Artificial intelligence is the smartest investment around. Even the generalist fund has drawn their attention and starting to specialise in AI funding.
In the future we will be able to augment ourselves with computers and enhance many of our own natural abilities. AI will become useful for people with amputated limbs, as the brain will be able to communicate with a robotic limb to give the patient more control.
Robots are already taking over some of the most hazardous jobs available, including bomb defusing. As technology improves, we will likely see more AI integration to help these machines function. Welding well known for producing toxics intense heat and noise already being outsourced to robots.
Using big data, AI could one day identify trends and use that information to come up with solutions to the world?s biggest problems.
Companies are developing robots which can understand and feel human emotions. These are programmed to understand feelings, develop its own emotions and help its human friends.
The global market for Artificial Intelligence is valued at $190.61bn by 2025 as per Marketsandmarkets (A market research agency). AI presents huge opportunities for entrepreneurs innovating in AI space.
Understanding Big Data- There are immense opportunity in this space to analyse and interpret big data flowing in different formats and sizes to draw out the business proposition. There are many companies coming in thisspace where they specialises in analysing and interpreting data and provide users with written report.