How does artificial intelligence develop

Where is Artificial Intelligence developing?

Innovative technologies such as artificial intelligence open up new potential for companies. A study has examined important current trends and presents concrete starting points for business opportunities.

Technology has not only been an important factor for financial service providers since digitization. In the bank blog you will find studies on the most important trends and developments.

The term Artificial Intelligence (AI) is based on a multitude of advanced technologies that enable machines to capture and understand human intelligence and learn to imitate it and act accordingly.

These innovative technologies open up new potential, especially in connection with data, mobile computing via smartphone as well as the Internet of Things (IoT) and human machine interfaces. The possible future scenarios are diverse and highly relevant for banks and savings banks.

Three major trends in artificial intelligence

“We are in a time when AI is making its way into everyday life and the world of work at a rapid pace.” - Filippo Rizzante, Reply

A current study by the technology consulting provider Reply highlights current trends in this exciting area. Accordingly, three trends will determine the future of AI in particular:

  1. AI-Driven Analytics,
  2. AI-Infused Interfaces and
  3. Intelligent automation.

1. AI-Driven Analytics

In the digital transformation, data forms the basis for future decisions with the help of predictive analytics. Companies in various industries use KI-as-a-Service solutions from established providers or start-ups and are increasingly buying “ready-made” AI-based business tools in order to receive Amazon-like personalization, Google-like search mechanisms and IBM Watson-like forecasting functions.

2. AI-infused interfaces

Human-machine interfaces are becoming more and more natural and could even replace smartphones and tablets. Tech giants and newcomers compete for the “next platform” and use AI to improve interfaces. Consumers are now accepting conversational user interfaces - especially voice-activated solutions - due to better natural language processing (NLP). And there is also progress in the field of emotionally intelligent and sensitive AI: the number of home robots is increasing, which adapt to each user individually with their own "personality".

3. Intelligent automation

Artificial intelligence is increasingly automating cognitive tasks in a wide variety of areas. Advanced AI-based systems drive preventive maintenance of plants and the optimization and automation of supply chain processes. Robotic Process Automation automation tools help automate day-to-day rule-based business processes so that companies have more time for more important work processes.

Infographic: Current trends in the field of artificial intelligence

The following infographic gives an overview of important results of the analysis:

  1. Growing media presence of artificial intelligence.
  2. Important trends in the field of artificial intelligence.
  3. Key technologies of artificial intelligence.
  4. Data Analytics and Artificial Intelligence.
  5. Intelligent automation.
  6. Intelligent communication between man and machine.
  7. New business opportunities through AI.
  8. KI: A definition approach.

Current trends in the field of artificial intelligence.

Applying AI at the beginning

Although artificial intelligence and its different facets are currently being discussed intensively, the development in many fields of application is still at the beginning. However, progress is currently being made at a breathtaking pace.

  • Predictive analytics will have a massive influence on the condition of machines and systems in the coming years through the combination of sensors, IoT platforms and AI-controlled analysis tools.
  • Further developed interfaces will increasingly close the gap in artificial intelligence between IQ-intensive interactions and EQ-controlled experiences and allow brands to deal with customers on a deep, personalized level.
  • Chatbots in customer service allow more time for value-adding tasks.
  • AI process automation and AI-driven decision-making reduce the effort required for everyday cognitive tasks.

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