5 Jan
2016
Artificial intelligence (AI) is the current hot talk of technical town. Tested and trained by humans, AI all about tag cognition and evaluating best estimations. Why are we talking about AI, again? Of course, because it is the key to intelligent virtual assistance market. Machine learning techniques when infused with AI improved net cognition accuracy of human language input in the form of text or speech. Amy, Cortana, Nina, Siri, and a whole lot of other names could be the ones helping users sort their files, book dates, find stuff, and help locate addresses among other tasks. Engaging users in human conversations to process their instructions and additively follow up with results and suggestions is what these ‘chat bots’ do.
If well processed results are what users needed, then machine talkback would not be the trend. It is the human neediness of being in company with ‘someone’ that has fed opportunities for intelligent virtual market. That, and the luxury having your own personal assistance for service at any time of the day favors growth of user population. Leading platforms in market were quick to realize the potential in this trend, and soon enough we had a number of automated chatter bots for consumer service. Smart devices at arm length of the consumers were equipped with the same for quick assessment of queries and performance of complex tasks at initiation. Convenience and speed of processing has not only benefitted the consumers but has also reduced query load on enterprises’ service systems. They keep the customers engaged on enterprise’s platform for a better part of the time, rendering the satisfaction of being attended to at short notice.
In-built programs in smart software could crawl over vast expanse of data for users and save the scroll time. They could aid smart recognition of surroundings, activities, biological conditions, and critical signals. At the same time, the relevant output would fall under the training sets received by the virtual system and maybe eventually develop a pattern of input-output scenario. Yet, they shall be exclusive of special case requirements and may not be entirely equipped for the diverse natural language inconsistencies. Moreover, self-development of language database from varied inputs could set the assistants out of their designed way.
Human language shapes future of machine learning. As users get comfortable in their nests being able to schedule all their work with smart talk- or text-back software on their devices, the market for intelligent virtual assistance is growth bound. With existing business strategies building upon relevant technology, global population would find such interaction unavoidable in near future. So much so, end-consumers exhibit addictiveness for constant connection with these virtual assistants, even asking them out for dates.
According to a recent report published by Allied Market Research on “World Intelligent Virtual Assistant Market Opportunities and Forecasts, 2014 – 2020”, Asia-Pacific regions would lead regional markets with estimated CAGR of 38.97% during 2014 to 2020. The report is a keen insight of existing and future market trends, with regard to key motivating factors and opportunities for its stakeholders. It also elucidates global business strategies for outlining profit building pockets of the market.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
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