ICT is serving as a big change agent in various aspects of business and society. It is highly capable of resolving economic and social issues. The emerging trends in ICT Business are artificial intelligence (AI) technologies and the internet of thing (IoT). They are shifting the ICT industry by enhancing the performance of communication, workflow, processes, and ROI. Artificial intelligence and machine learning create new business models. They are generating new opportunities for businesses. AI and Machine Learning are transforming the different aspects of ICT industry operations such as sales and marketing, supply chains, service, and product delivery, etc. ICT businesses are adapting emerging technologies to keep pace with digitization and to improve product accessibility. The CEO of Google Sundar Pichai once quoted that At its heart, AI is computer programming that learns and adapts. It can’t solve every problem, but its potential to improve our lives is profound.
What is Artificial Intelligence?
Artificial Intelligence (also known as AI) is a branch of computer science that is capable of performing tasks like humans such as text recognition, speech recognition, problem-solving, etc. By using artificial intelligence technologies, computers can accomplish complex tasks efficiently.
Different Technologies of Artificial Intelligence (AI)
The various technology segments of Artificial Intelligence are as follows:
|Machine Learning||Deep learning recommender systems data miningReinforcement learning unsupervised and supervised learning|
|Natural Language Generation||Sentiment analysis natural language UnderstandingMachine translation|
|Speech Synthesis||Natural language generation control of other systems through APIsSpeech synthesisRobotic process automation|
|Computer Vision and Hearing||Handwriting recognitionSpeech recognitionImage and video recognitionOptical character recognitionFacial recognition|
|Decision Making||Expert systems case-based reasoning|
Machine learning learns things automatically and enables system automation. No human assistance is required during the learning process. It uses different algorithms for learning from experiences and examples. With the two categories of machine learning: supervised and unsupervised, computers can process massive data. Deep learning in an organization helps in preventing money laundering and fraud. It is also called a deep neural network. It learns data from unlabelled and unstructured data without any supervision. Due to natural language generation, the internet is generating news and different stories. It generates spoken or written narratives from datasets. AI is Increasing Operational Awareness of ICT Networks and Systems for Communication Service Providers. Artificial intelligence can perform tasks more effectively and faster than any human being. They can work continuously without taking a rest. It is making the ICT industry smart and efficient. According to a study by Transparency Market Research (TMR), the global market for artificial intelligence is estimated to gain an impressive 36.1% CAGR by 2024.
Internet of Things (IoT)
The internet of things is also termed IoT in short. It is becoming one of the biggest trends of recent years. It connects all technological devices with each other over the internet. It establishes a relation between the digital and the physical world. It can provide huge information on customer engagement or user experience by tracking their interaction and behavior with the digital world. IoT is helping in the optimization of marketing campaigns. IoT is introducing different business models such as pay-per-use models.
Different Technologies of Internet of Thing (IoT)
The various technologies that make IoT are as follows:
- Sensor technology
- Cloud computing platforms
- Machine learning and analytics
- Natural Language Processing (NLP)
Some of the common uses for the internet of things in ICT businesses are connected logistics, smart manufacturing, smart digital supply chain, preventive, and predictive maintenance, etc. IoT helps in managing businesses in a better way by deriving data-driven insights. IoT is increasing the productivity and efficiency of ICT businesses. It offers quick time to value with its seamless connection between the digital and physical world.
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