Thursday, Dec 14 2017 | Updated at 11:33 PM EST

Stay Connected With Us F T R

Jan 02, 2017 10:54 AM EST

Profiting from AI Chatbots, Big Data And Virtual Reality [Video]

Close
Drone race: Nasa's AI-backed drone takes on human-controlled one

Future interactions with online customer services will make a drastic change as these communications may no longer involve humans but by chatbots powered by artificial intelligence (AI). Businesses are looking toward the best use of AI to process vast amounts of data.

According to CNBC Technology, 2017 will be a year where investors will be looking towards AI-powered chatbots. Equity strategist Beijia Ma at BofA Merrill Lynch stated that big data is the input for things that AI is making people smarter about what to do with vast amounts of data and how it can improve goods and services. Amazon, dominates in this field as of the moment.

Coming into the scene in 2011, chatbots was used as business intelligence combined with artificial intelligence and messaging platforms produced new forms of responsive technology. The need to interact with customers in new ways that provide customer support that is aligned and evolves based on changes in customer preference and on communication habits and details, according to Forbes.

Mattel, Apple, and Facebook have one thing in common in exploiting the latest AI trend in employing weak AI chatbots into cutting-edge conversation-based interfaces. Mattel employs, Hello, Barbie! Apple has Siri, Facebook now has Facebook M integrated into Messenger turning it into a complete platform that is being used as avenues for partnering companies that create support for chatbots.

Google is also reportedly developing a chatbot messaging service that can offer assistant-like support via a messaging platform. This is now evident in one of its products, Google Home. Though revolutionary, Amazon's Echo still dominates over Google's Home assistant as per expert reviews.

The point in all these is to develop a seamless app that will use conversation as a way to relaying commands or requests as a platform wherein a virtual entity will be able to communicate with a real person in real-time. Accordingly, the potential already here needs to be explored and developed further.

As an added example, Techworld reported various viable uses for chatbots that have to deal with processing large amounts of data. They say some of the practical uses include; a lawyer, a personal stylist, food orders, personal concierge or butler that extend the use of Siri or Cortana, and more.

According to active chatbot investor, Verizon Ventures, chatbots are a representation of new upcoming trends in how people access information, make decisions, and communicate. For a clearer picture, watch the video below.

© 2017 University Herald, All rights reserved. Do not reproduce without permission.

Get Our FREE Newsletters

Stay Connected With Us F T R

Real Time Analytics