AI and ML are rapidly transforming businesses across industries. It’s essential to stay aware of the latest disruptive technology trends and how they can help you achieve business growth.
Artificial intelligence has piloted pint-sized drones, helped Ukraine fight Russia, and predicted when Air Force jets need maintenance. But these tools also require massive energy for training and ongoing use.
Generative AI is a powerful emerging trend that’s changing the face of artificial intelligence. It allows businesses to take advantage of the technology without building and training their specialized AI models. This technology is transforming how companies create content and deliver value to customers.
The technology can create text, images, music, and other assets based on existing data. For example, marketers use it to create ad copy based on customer preferences.
As the capabilities of this type of AI grow, more and more industries will likely use it to drive business processes. It was estimated that AI productivity increases could add up to $4.4 trillion annually to the global economy. This is mainly because generative AI can narrow the time and skills barriers to insights, which can help business leaders make better decisions.
While generative AI news today is making headlines, the technology has already found widespread use in many businesses. For instance, Google enables retailers to use its software to create virtual agents to provide personalized shopping experiences and help customers find what they want. It allows brands to stay competitive and offer a better customer experience. Other companies are deploying generative AI to help improve employee productivity. For example, one company is leveraging generative AI to help train new employees and identify skill gaps for career progression.
Multimodal AI is an advanced type of artificial intelligence designed to process more than one data type at a time, much like humans do. While traditional unimodal AI models focus on a single data type, multimodal AI models can analyze information from multiple data sources (text, images, audio, and video) to create a fuller picture of the world around them.
The technology’s ability to use a range of inputs makes it a powerful tool that can be used across industries to improve productivity, optimize operational and customer service processes, implement strategic differentiation, and significantly enhance client experiences. Progressive businesses and institutions are integrating innovative multimodal AI tools, solutions, and platforms to realize these benefits and transform their business operations.
Multimodal AI helps personalize the customer experience by analyzing online shopping behavior, in-store purchases, and social media interactions to develop a detailed profile of each customer. This information allows retailers to offer personalized product recommendations and targeted advertising campaigns that drive customer engagement.
Multimodal AI improves modern vehicles’ human-machine interface by enabling drivers to control their cars using voice commands and detecting driver fatigue or inattention signs. The system can then warn or even take control of the vehicle if necessary to avoid accidents and ensure passenger safety.
Multimodal AI can help optimize manufacturing operations by analyzing sensor and quality control data to identify potential problems, such as equipment failure, so companies can fix issues before they become costly repairs or shutdowns. It also enables manufacturers to reduce waste and provide higher-quality products to customers.
Digital Twins are designed to mimic real-world objects and processes, helping businesses streamline their operations in multiple ways. Digital twins are changing how companies build and operate their products, from aerospace to automobiles. In construction, for instance, digital twins transform how structures like skyscrapers and bridges take shape. They allow engineers to test and design their creations in the digital realm before a single brick is laid, meaning that any potential issues can be spotted and rectified early on.
In addition, Digital Twins can help predict future events and improve situational awareness of a given asset or environment. AI algorithms can quickly sift through the vast amounts of digital twins’ data, making it easier to spot abnormal patterns and trends that could lead to an incident. For example, a digital twin of a factory might alert an operator instantly if a machine is about to overheat.
However, the increased usage of AI has raised concerns about ethical use and safety concerns. With chatter about an existential threat to humans becoming more common, the tech community must keep its eye on the ball. This is why transparency, fairness, and ethics should be top of mind as we continue exploring the limits of this incredible technology.
AI is propelling video security into a new realm of unparalleled sophistication, from behavior analysis to resolution enhancement. However, the technology also raises issues of privacy and accountability that need to be addressed. The physical security industry needs to be at the forefront of developing AI applications that are transparent, accountable, and fair.
With increased focus on securing cities and infrastructure, AI-enabled video surveillance systems are becoming more popular. AI-powered surveillance enables operators to understand better what is happening, prioritize activities, and react faster to potential threats. For example, a system trained to identify humans and vehicles can sift through hundreds of cameras, quickly finding the person or vehicle of interest. It saves hours and helps to improve incident response times.
In addition, some worry that China is exporting its advanced surveillance technology to authoritarian regimes, particularly in Africa and the Middle East. However, research interviews conducted in Thailand did not reveal any evidence of Chinese companies pushing a concerted agenda to peddle surveillance equipment and encourage governments to build sophisticated monitoring systems. Such technologies are likely being sold to countries with the money to pay for them. But it is also worth noting that several companies based in liberal democracies, including the United States, Germany, France, Israel, and Japan, are selling advanced surveillance tech to unsavory regimes.