Virtual Private Assistant is coming, five industries will be affected
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[Netease Smart News November 29 news] In artificial intelligence services, India may still be difficult to catch up with the world level, but the role of virtual personal assistant technology (virtual personal assistant technology) will become extremely important. From shopping to dating, from interaction with friends to business dialogue, everything will move toward an era in which the algorithm will propose personal development advice to individuals and will advise the CEO on the development of the company.
Future Group, the largest retail company in India, has also taken a big bet in the era of digital retail 3.0. Future group chairman Kishore Bianni announced a new strategy to digitize 350 grocery stores. Integration. The group plans to fully implement virtual personal assistant technology in 10,000 stores within five years.
He said: "We will use everything from chat applications to machine learning to get a complete digital retail experience." This $4.4 billion company is not the only company betting on virtual private assistant (VPA) technology. There are many other companies as well. IT service companies such as Infosys, Mindtree and Wipro will create this service for large enterprises. These companies have obtained huge revenues in the U.S. market and will only focus on this market.
With Kishore Beaani's bets, startups also have the opportunity to establish such services for the Indian market. However, few start-up companies have established virtual private assistant services for large companies. Every company claims to have developed a chatbot, but chatbots are not virtual personal assistants. Companies using Basic Call Assistant include Yellow Messenger, Marvin.AI, Morph.AI, and Avysh.com.
Ideaagan Capital founder Naganand Doraswamy said: “Today, every startup and medium-sized company claims to be an artificial intelligence startup company and they all say that they have developed chatbots, but they don’t understand what deep learning, machine learning and artificial intelligence are. What they are. They need to figure out where they are in the technology industry and then study the business model.†He added that today, large product companies like Amazon and Apple understand the way consumers and technology work, and Virtual personal assistants have generated great interest. These virtual personal assistants are not robots in the Asimov Robotics series. They are only a stepping stone to the dynamic interaction between future machines and humans.
How does a virtual personal assistant work?
A virtual personal assistant is an algorithm that can track data and calculate your preferences, then answer questions on a chat or voice platform and make recommendations based on historical data. Today, engineers are busy finding customers using cloud computing (computing and storage), mobile applications, interactive web pages, and search modules.
Manthan's founder Artur Garland said: "In the future, due to the emergence of digital data, software will know more about individuals and predict the possibility of more accurate." He added that data is "the future of the world." Everyone shares data with Google, Facebook, and all apps installed on the phone.
All engineering students must be prepared for this artificial intelligence revolution by understanding data from companies. However, to achieve this, large-scale reforms in the industry and academia are needed. Karnataka has taken a step toward establishing an authoritative artificial intelligence center, but it still needs to make a unified effort nationwide to study the impact of these artificial intelligence-based algorithms.
With these clouds, technology companies can now help companies use data to tailor marketing campaigns for their customers. The era of ignoring the close relationship between customers and data is over. Today, the customer is an integral part of the company, and the company will focus on new tailor-made activities to increase business revenue and profits. This marketing campaign will be triggered by artificial intelligence-based virtual personal assistant software that can be used in financial services and insurance, retail, and customer relationship management in hospital information systems. Various industries including logistics, physical retailing, healthcare, banking and manufacturing are piloting virtual personal assistants.
Five industries using virtual private assistant soon:
Retail: In Bangalore, Mindtree Consulting and Manthan are creating retailers' own versions of their virtual assistants to help customers make informed shopping decisions. Our goal is to inform individuals about the product and influence his/her purchase. For example, if a person likes a "crunchy" milkshake, the virtual personal assistant engine will find out what can be bought in the store. And advise customers to buy "cookies" or even "freshly baked pizza in a delicious bakery." What the customer needs to do is go into the store, open the retailer's application, and use the voice or text assistant. These are advanced chat bots created using natural language processing technology. Mindtree’s Executive Vice President N.S.Parthasarvice stated: “Soon, customers will want technology to deliver results. We must build these artificial intelligence-based assistants.†These virtual assistants help retailers increase customer loyalty through tailor-made marketing campaigns. degree. They also help store managers make suggestions to passing shoppers.
Manufacturing: In Germany, the virtual personal assistant is part of the factory's chain, where each machine on the shop floor becomes an applied dashboard. Virtual Private Assistant tracks the performance of all machines, predicts failures, and specifies the type of maintenance required. The factory manager will ask questions to the virtual personal assistant or print out questions to determine the tasks of each machine and how to make breaks when the production cycle changes according to market demand. Recently, Tata Consultancy Services has worked with Rolls-Royce to create IoT modules using artificial intelligence, deep learning and machine learning. In this case, the virtual personal assistant will be provided to the plant manager and the customer (the company that owns the aircraft that runs the Rolls-Royce engine) to find out where the engine parts may be worn and how to repair it.
Rolls-Royce Strategic Marketing Director Ben Story said: "We use data to learn about the useful life of components and to reduce the cost of using them." The company and Tata Consulting will also work with startups and other companies. Study machine learning and artificial intelligence synergy to provide real-time data for the end user of the Rolls-Royce engine. The same application can also play a role in the automotive industry. Industry experts say that this technology will become part of the $7 billion technology upgrade opportunity for India's manufacturing industry by 2020.
Logistics: This $200 billion industry is technically a low-end industry and is waiting for technology to bring about disruptive change. In terms of storage, companies such as Amazon and Flipkart are making large investments. The simplest application available to truck drivers is a virtual personal assistant that can be used to understand contracts, find businesses, and determine delivery routes. The company's co-founder Jayaram Raju said: "Artificial intelligence will help truck drivers better manage their customers' goods by predicting, maintaining, and disrupting truck shipments." In warehouses, managers can perform virtual personal assistants. Schedule, while predicting the movement of boxes and crates.
Healthcare: Doctors can use virtual personal assistants to dynamically understand a patient’s disease history, and patients can use it to better connect with hospitals and insurance companies. For example, if the patient wants to consult a doctor, the entire appointment is done through a virtual personal assistant. But the software will record all your insurance details at the insurance company and the doctor. The doctor can use the virtual personal assistant to get treatment and appointment dashboards. The virtual personal assistant will tell the doctor that the next patient has already recorded in the application that they have severe indigestion or burns. The virtual personal assistant creates an event control panel and suggests treatment options over time. This information can be connected to the hospital's enterprise resource planning system (ERP) to better manage surgeons, specialists, and hospital beds. Professor S. Sadagopan, head of the company, said: "The future will be dialogue with real-time data, which is conducive to healthcare. Artificial intelligence can determine whether the case requires advanced surgeons on the operating table; in 95% of the cases, you There is no need for senior surgeons to perform surgery for you.â€
Banking: Banks need virtual personal assistants. There is a reason for this, because banks have a huge workforce, a lot of paperwork and repetitive work. Badrinath Rao, Chief Executive Officer of Cateria Technologies, said: "Banks are reducing the size of their branches and have opened several virtual banking networks. You can create accounts with virtual agents. You don't need people at all. Handle it in person." Catria is an Internet of Things company committed to automating the bank's business processes. Take the National Bank of India as an example, it spends 8 billion rupees a year to manage the Jan Dan account. Imagine that virtual personal assistants will reduce paperwork and improve the efficiency of bank employees. But to achieve this goal, banks must integrate their consumer-oriented technology into this kind of virtual personal assistant. The National Bank of India is investing in several new technologies to make the banking industry more digital. The challenge here is regulatory issues. But what if a conversation application helps users open an account or purchase a policy from a bank channel? This practice is less time-consuming, there is no place limit, and customers do not need to go to the bank in person.
It is understood that the global market for smart virtual personal assistants (SVPAs) or chatbots is growing exponentially. According to data from Transparency Market Research, the market was valued at $113 million in assets two years ago and is expected to reach nearly one billion dollars by 2024. In addition, users of popular virtual assistants such as Apple Siri, Amazon Alexa, Google Family and Microsoft Xiaona will soon reach 100 million. However, these products mainly appear in some simple activities in the consumer field, such as booking movie tickets, marking restaurants, providing sports events and weather forecasts, creating event reminders, texting and calling friends, or playing music.
In the next step, companies will enter this field and intelligent virtual personal assistants can schedule meetings, follow up on ongoing work, and perform daily tasks such as submitting timetables, providing staff guidance, and so on. This may significantly increase employee collaboration, satisfaction, and ultimately cost savings for the company. According to Kotech Technologies, smart virtual personal assistants are about to overturn companies.
(From: yourstory Compilation: NetEase See Compilation Robot Review: Xue Yaqin)
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