Artificial Intelligence is one of the most obsessed technological advancements adopted by sectors in their digital transformation. Though such has been invented decades ago, the essence has been realized in the current association with businesses due to the COVID uncertainty laggering growth stimulus.

Enhanced customer service facilities and augmentation of AI in automating various tasks provides such technological advancements. However the most impacted sectors with digital advancements are Finance & Medical, as Information Technology continued its contribution in rebuilding corporate behaviour, stepping out of the old ways. The chaos of year 2020 has lead to the emergence of remote work facilities and cloud technologies, countering forth in reckoning for an accelerated growth in technology. As per the survey by Deloitte,

In the coming year, companies will likely also increasingly implement AI for managing customer interactions, developing and testing products, personalizing products and services, delivering connected equipment, and enabling deeper involvement of personal assistants in consumers' day-to-day activities.

TECHNOLOGICAL ADVANCEMENTS In 2020

Automation of Services

Services provided have experienced a major change in 2020 as they are automated for real-time response and customer satisfaction. Major modifications to the industry have been driven by the integration of Internet of Things and fast availability of services in mobile devices. Services ranging from AI powered assistants, Personalized e-commerce, Navigation and other Healthcare facilities are remodelling the outlook of world economic growth in facilitating shift to Digitalization.

As reported by Statista in their woldwide forecast of 2019-2025,

AI in the technology, media and telecommunications industry is forecast to increase global GDP in 2030 by 12.5 percent - 5.5 percent from gains associated with productivity, and 7 percent from gains associated with product enhancements.

AWS cloud service provider is one of the mostly used game changing technology in transforming automation of services with the use of pre-trained intelligence for various applications and workflows. Holding stead with personalized recommendations, improved security and safety and increased customer engagements, AWS provides real-time APIs which enhances such service facilities. Amplifying human potential, Artificial Intelligence serves a major decision making process, as stated in research reports by Infosys,

AI is perceived as a long-term strategic priority for innovation, with 76 percent of the respondents citing AI as fundamental to the success of their organization's strategy, and 64% believing that their organization's future growth is dependent on large-scale AI adoption.

Chatbots

Use of Chatbots has become common in meeting out the requirements of customers by automated responses to the queries raised. Such a service has eased out the tasks of customer service executives wherein their presence was mandatory 24/7 in case new issue rises. In the current Fouth Industrial Revolution, AI powered chatbots serves a major role in digital services while utilizing the potential power of data in processing requirements to better resolve issues.

Restricted not only to the Frequently Asked Questions (FAQs), chatbots even utilize Natural Language Processing with advanced AI to recognize different needs of the customers in providing a 360 degree service facility, anytime.

Set aside these facilities as 24/7 customer services, resolving issues faster and efficiently and boosting the business productivity, chatbots serves a crucial role in digital marketing of products or services to an effective growth in sales. In a statement on the potential of assistive technologies, Google CEO, Sudar Pichai said,

In the long run, we're evolving in computing from a 'mobile-first' to an 'AI-first' world

Natural Language Processing (NLP)

Natural Language Processing is one of the most interesting machine learning aspect which enable computers to process human languages and have intelligence to act accordingly. The accuracy with which the NLP enables a machine to understand human speech, ranges forth wide opportunities in personalizing abilities for a better experience.

The most commonly known use of Natural Language Processing is with the latest releases of voice assistant devices as - Amazon Echo Dot, Google Mini Home. NLP goes beyond just understanding human languages, to a cognitive approach in resolving matters with self generated well formed human language on its own. It evaluates experience with unstructured data collection leading to an unsupervised or supervised learning in developing analytical depth for a better predictive and sentiment analysis.

Chatbot, one of the common integrations in modern business websites, forms the major portion of the utility of NLP and AI for more enhanced consumer experience. As predicted on the market growth,

The chatbot market size is projected to grow from $2.6 billion in 2019 to $9.4 billion by 2024 at a compound annual grwoth rate (CAGR) of 29.7%.

Deepfakes

Deepfakes are the most advanced technology in facial detection and modification with AI. Though controversial, such technology has potential in transforming the media industry to a new level wherein the celebrities are not required to be physically present, however, with their consent, their presence can be modelled for a certain promotional activity. In one of the old posts in Twitter, back in 2019, Katie Baron of Forbes noted,

Back on my Forbes beat with Digital Doubles: The Deepfake Tech Nourishing New Wave Retail via @forbes https://t.co/Y92aOvZ7b5 #deepfake #futureofretail #brandfutures #retailtrends #avatars #digitalidentities
— Katie Baron (@katiebarontweet) July 29, 2019

Use of such technology enhances customer experience as video advertisings are increasingly adopted to reach out creative content promotion. With elevated use of Deepfakes in social media, concerns rises on the privacy, however counter to such, it is only possible through AI to detect such fake uploads. In a recent Deepfake Detection Challenge by Kaggle, researchers are provided the stimulus to innovate new technologies that can detect such deepfake, which are otherwise undetectable to human eyes.

Cropping images for detecting minute changes in frames to monitor the exact noise patterns helps to enhance such deepfake detection. At the latest release of Microsoft's Video Authenticator, the company has raised concerns to address such disinformation strategies followed through social media.

Video Authenticator can analyze a still photo or video to provide a percentage chance, or confidence score, that the media is artificially manipulated. In the case of a video, it can provide this percentage in real-time on each frame as the video plays...

Autonomous Technology

Due to the COVID pandemic there has been major hit in many sectors including the Automobile and Manufacturing Sectors. Buying new vehicles has plunged as also stated by Globe Newswire,

By the end of 2020, the global passenger vehicle demand is predicted to plunge by 11% due to Covid-19 pandemic and commercial vehicle industry is expected to witness a fall in the demand for the first time in the decade.

However, innovations related in transforming the automobile industry has surged its impetus with latest breakthroughs in AI and Deep Learning techniques. The latest enhancements to ADAS technology has thrilled startups and venture capitalists in spurring advancements while operating distinct autonomous development programs. Apart from the well known Tesla, BMW, Mercedes, other companies as Amazon, Apple, NVIDIA, Uber and many others are working on such technology with enhancements in redefining autonomous technology.

As per an Amazon spokesperson, on their investments in such,

Autonomous technology has the potential to help make the jobs of our employees and partners safer and more productive, whether it's in a fulfillment center or on the road, and we're excited about the possibilities.