Applications of AI Across Different Verticals

The term ‘artificial intelligence’ was formed in 1956 at a conference in New Hampshire, and since then, the world has seen a number of milestones with different adoptions of AI. From virtual assistants such as Alexa to self-driving cars, AI technology is helping consumers improve their lives and make everyday operations easier. But what about businesses? How will they be using AI to attract customers, manage their business, and save time? It turns out, different verticals have their own applications of AI to scale their business and overall growth. 

Artificial Intelligence Software Market Growth

As the world continues to adopt AI practices, the software market is growing, as expected. According to Statista, the market is expected to reach $126 billion by 2025. Applications will include natural language processing, robotic process automation, and machine learning. 

COVID-19 Propelling the AI Movement

A major question to address is: Has COVID-19 propelled the AI movement? The answer is yes. 

In a survey by RELX, more than a thousand senior executives were surveyed on the topic of AI adoption during the pandemic. The majority of respondents (68%) increased their investment in AI technologies during the COVID-19 pandemic, 48% invested in new AI technologies while 46% invested further in AI technologies already in use at their companies. Similarly, 63% of business leaders polled reported having a positive experience with applications of AI technologies, as it helped their business stay resilient during rough times.  

However, it is crucial to note that the companies are using AI to increase worker productivity, not necessarily replace labor. That is not to say that AI is not being used to replace labor at all, it just means that those were not the results that were yielded from this survey. 

How AI is Being Used in Different Industries

Healthcare: As healthcare is rapidly transforming, especially during the pandemic, AI is increasing its presence in the vertical through various ways. Check out 5 Ways AI is Transforming the Healthcare Industry. Some other advanced healthcare methods that involve AI and ML are applying it to reduce diagnose errors, improving patient convenience, and assisting in delivering telehealth services.

Agriculture: The terms ‘smart farm’ and ‘farming 4.0’ are spreading fast within the agriculture sector. Both terms are synonyms for automation in farms which involve the application of AI. Robots are ready to take over farms and carry out various processes involved in the food chain including detecting weeds and packing. This will likely take over human jobs as mundane tasks will be handled by advanced technology. 

Manufacturing: Another sector which requires mundane processes to be handled, manufacturers are constantly looking for several tasks to be automated. Luckily, AI is here to save the day again. Common applications of AI include product development, price forecasting for raw materials, and customizing the look and feel of the products as well. 

Retail: Artificial intelligence is changing the way stores operate, both in-store and online. The main goal here is to improve customer service. Whether that is through helping customers find a product in a store, reduce long lines during checkout, or even robots that recognize customers by face and determine their likes and dislikes. The possibilities are endless.

Real Estate: You may have heard of various technology disrupting the real estate scene before, such as augmented reality (AR) and virtual reality (VR) online tours. Well, AI is also transforming the way realtors do business in various ways. Realtors can take advantage of this technological shift by incorporating a chatbot to their site, examining Big Data to have more targeting marketing campaigns, and better manage their properties. 

I want to Incorporate AI Technology to My Business, Where Do I Start?

Artificial intelligence can get complex, so you need to partner with a reputable software development company that has decades of experience to examine your business properly and craft the perfect AI solution to scale your business. From AI strategy consulting to development, we got you covered every step of the way. 

Sunvera is one of the top AI companies in Orange County, and can help you implement the right software solution for your business while helping you reduce costs and improve operational efficiency. Contact us for a FREE 2-hour consultation.  

Augmented Reality App Development: Process, Features, Cost etc

Augmented reality app development is experiencing a greater demand, considering that current equipment is capable of reproducing images, colors and sound to a degree where it is possible for people to interact with everyday objects.

Augmented reality technology was first created by Ivan Sutherland, a computer scientist at Harvard, in 1968. He developed the head-mounted display that is now used to manipulate our environment. Due to limited knowledge and a lack of resources at that time, he could achieve this only to a certain degree. Since then, augmented reality has quickly transformed into a viable solution in the marketplace, with other scientists making their own discoveries which have eventually led to what we have today as AR technology. 

How Augmented Reality Works

Much like a hologram, augmented reality (AR) overlays graphics on top of the real world, so that the real world seems to change to resemble a video game. Users can have the ultimate experience with augmented reality apps by simply pointing their smartphone at a real-world environment and selecting the relevant features through the device’s touch-screen. Headsets are also being widely used along with smartphone apps. The user’s video-game mindset also takes over, causing their hands to shift in the direction they are looking and manipulate objects. 

Augmented Reality Trends

The future of AR has been something of a sci-fi fantasy for some time now, with a first mover like Google Glass yet to become mainstream. However, with a surge in interest in consumer virtual reality in recent years, as well as companies like Apple and Microsoft investing in related technologies, the days of glasses may well be numbered.

Tools For iOS and Android

ARKit for Apple is one of the leading augmented reality SDKs (Software Development Kits) for iOS. Thanks to ARKit, you can build augmented reality experiences for iPhone and iPad, including games, education, travel, and more. ARKit also offers a path to bringing augmented reality to millions of existing iOS devices by enabling developers to bring augmented reality to any device with Apple’s A9 chip or later. Apple’s commitment to the iOS developer community goes beyond just ARKit. Its platform and ecosystem are highly optimized for developers to build the future of apps and games for iOS and macOS. ARKit can only be used for iOS development.

However, there are many other SDKs for Android development as well, one of the leading ones being Vuforia. Vuforia is a simulator with a native API that lets you create amazing 3D visuals by using an iPad or Android phone as a sighted device. This is great for developing both AR and VR applications.

Before you start using any of these SDKs, you need to add the correct permissions, know the API, add appropriate labels for buttons and media, etc. 

You also want to make sure that the SDK being used to develop your AR app allows for the following:

  • 3D recognition and tracking
  • Smart glasses integration
  • Image recognition and tracking
  • Location-based services

Cost of Building an AR App

The cost of developing an AR app ranges between $25K and $200K depending on the complexity of the technology used. So it is likely that a tech company will have multiple solutions with different price ranges and development times, but with the same ultimate goal to improve the customer experience.

Aside from the usual development cost (software development costs), security and battery life also have to be considered when discussing the topic of AR app costs. 

The Future of AR Technology

Augmented reality has yet to be defined in terms of a mass appeal for consumers. But for developers and researchers, it presents a huge opportunity to reach and test out applications that are in-demand in the market. For the longest time, consumers related AR technology to games such as Pokemon Go. Now, when we think of this technology, we can easily recall coming across it in our everyday lives whether it is online shopping or television broadcasting. Digi-Capital projects 3.5 billion mobile augmented reality users by 2022, and this will not be limited to games only. AR technology will soon take over various aspects of our lives along with other emerging technologies such as artificial intelligence and machine learning. 


Contact us to discuss ways to scale your business with augmented reality app development while improving operations and costs.

US falling behind in AI, ML

According to Forbes magazine 80% of enterprises already have some form of AI (artificial intelligence, machine learning, data analytics) initiatives with Asia Pac leading the field. Product Innovation and Research & Development, Data engineering, Intelligent workflow and decisioning automation, and analytic operations at scale being main areas for AI.

In many of the areas, US is behind both AsiaPac and Europe which is concerning given that traditionally US has lead the way in emerging technologies.

 

State of Affairs

The three main points from Forbes article https://www.forbes.com/sites/louiscolumbus/2017/10/16/80-of-enterprises-are-investing-in-ai-today/ are:

• 80% of enterprises already have some form of AI (machine learning, deep learning) in production today.
• 30% of enterprises are planning on expanding their AI investments over the next 36 months.
• 62% expect to hire a Chief AI Officer in the future.

An interesting insight from the article is that enterprises are starting to benefit from AI like never before. More enterprises benefiting would mean more and widespread application of AI techniques.

What can we do?

However, the fundamental question (like always) – is it vaporware? And when is the right time to jump in? And what can we do to establish US dominance in such emerging fields.

We at Sunvera started working on AI (machine learning/data-analytics) three years ago when we developed a product for a client in the financial sector. The AI web portal was designed to accurately forecast macro-economic metrics for application in financial investments to maximize returns and minimize losses. The system uses historic macro economic indicators to derive near future and long-term forecasts.

The mean error between actual and forecast values was less than 0.25% indicating a high confidence factor in results.

Our experience developing the product has helped us understand the nuances not only from a software development point of view but also from client’s application of AI to their businesses.

For example: in any application involving Artificial Intelligence, Machine learning or data analytics, it is important to start with good and sufficient data. It is also important to have wider datasets – factors not directly affecting outcome – to ensure good results. Finally, determining how to present results – web portal, mobile apps – is important ensure clients are able to benefit from the application.

At Sunvera Software we we can help you navigate and benefit from AI, ML and data-analytics. We know to separate vaporware from real when it comes to your specific solutions and help increase revenues and reduce losses.