Is Artificial Intelligence capitalized? | PISIQ Team

Artificial Intelligence (AI Technology) is a rapidly growing industry in today’s generation. It’s becoming one of the hottest tech concepts on the planet. Through enabling technologies like machine learning, neural linguistic processing (NLP), Industrial Internet of Things (IIoT) and Internet of Things (IoT), many of the top companies like Google, Amazon are adding and using AI functionality to everything from entertainment services to education, selling, communication, medicine, etc. to make their work easier and less complicated. PISIQ is a company that specializes in everything including research and development in artificial intelligence (AI), we have been asked this a lot, if artificial intelligence is capitalized perfectly or not?

Simple answer is, yes, Artificial Intelligence is capitalized by many companies such as IBM, Microsoft, Apple, Google, Facebook and Amazon. However, in order to dominate the current market, these companies will have to capitalize on artificial intelligence (AI) on a large scale. There are many companies yet to monetize artificial intelligence (AI). IBM, Google, Facebook and the other top tier companies are continuously putting up brand new, cutting edge technologies and there is no doubt that these companies will catch up segments of the AI space to future proof their business operations. From the statistics conducted, the global AI software market is expected to grow approximately 54 percent year-on-year, reaching a forecast size of  22.6 billion U.S. dollars.

How to capitalize on Artificial Intelligence and Machine learning?

If you’re a company thinking on if you must monetize AI, and don’t know what are the ways to do this, PISIQ has researched and got you the most valuable information for your company to succeed.

There are two ways, Indirect capitalizing and Direct capitalizing

• Indirect Capitalizing

• Through Indirect capitalization you use built-in AI technology to offer your value, but AI is not the sole source of that value. For example, the YouTube recommendation algorithm makes use of the machine learning technology to recommend videos to users and it is due to this people subscribe to channels and keep watching the channels videos because it gets recommended to them. Amazon also uses this by recommending products which are similar to which the user had viewed last. Whether you sell products or provide services to customers, adding AI into them has great potential to monetize by making whatever you sell useful and appealing to customers. This is just one of many factors that motivate the customer to subscribe to these services.

• Direct Capitalizing – AI as a service (AIaaS)

• This method of capitalization required providing AI itself as a service to the customers. This requires highly advanced capabilities with minimal investments. International Business Machines Corporation (IBM) and Watson are one of the most widely known companies among all AIaaS providers. Watson is a AI system that is capable of answering questions asked in natural language within a matter of seconds. Deep Learning is the AI function here that helps to read human language without human supervision. It’s developed by IBM’s DeepQA project and is named after the founder of IBM and the first CEO, Thomas J. Watson. IBM Watson Health is an organization created to help solve the most serious health challenges through Data, analytics and AI in the medical industry. It has helped doctors at Sloan Kettering Cancer Research Center and the Cleveland Clinic make better decisions about patient treatment from hundreds of thousands of variables. They created a tool which used neural-language processing (NLP) to summarize every patients' electronic health records, and then searched databases to provide the perfect treatment recommendations. Since getting your taxes done is a miserable, time-consuming work, even H & R Blocks, a large tax preparation company is taking the help of IBM Watson to make their work smoother. IBM Watson will use natural language processing to parse tax documents and relate statements back to the 74,000-page federal tax code. These are some of the examples of companies that follow Direct Capitalizing.

How do big companies capitalise on Artificial Intelligence?

The following are some examples of how the big companies capitalized AI this might give you an idea to the question is artificial intelligence capitalized?

Facebook

Facebook’s main investments include the messenger platform which is widely used by 1.3 billion people around the world, coming second to Whatsapp (which is now owned by Facebook) among the top most used messaging applications. Messenger’s strong user interface is a huge advantage Facebook can use to monetize AI Technologies. During the 2018 F8 conference, Facebook had mentioned they had over 300,000 chat bots. Chat bots come under Direct capitalizing, and is an amazing strategy to capitalize AI. Another AI investment by Facebook includes Wit.ai. Wit.ai helps Facebook by offering them voice control development tools along with its Parse development platform, aid with voice-to-text input for Messenger, improve Facebook’s understanding of the semantic meaning of voice, and create a Facebook application where you can navigate through speech

Amazon

One of the biggest investments of Amazon on AI Technology includes Alexa which became widely popular globally during 2014-2015. Other investments include consumer devices like Echo and Dot, as well as the Amazon Web Services (AWS) Machine Learning Platform. It offers over 175 fully featured services from data centres globally. Millions of customers all over the world – including the fastest growing start-up’s, largest enterprises, and leading government agencies – are using Amazon Web Services (AWS) to lower the costs, become more agile and innovative.

Google

Google has made serious investments in AI way earlier than most of the companies, which is good for them in the long run. Technologies like DeepMind, open A.I. platforms like TensorFlow, smart devices like Google Home, mobile apps like Google Assistant, hardware components like the TPU Chip and the Google Self-Driving Car which is ‘Waymo’ are some examples of Google’s commitment to A.I.

Apple

Apple’s main investment in AI was for Siri, and in 2018, Apple had invested $200 million on Seattle-based intelligence company xnor.ai, which specialises in edge-based AI. Even though Apple hasn’t reported on why they invested in Xnor.ai, we can speculate that they invested on Xnor.ai to improve the performance of Siri. Maybe to speed-up the processing of Siri. Whilst, Apple may seem like it’s behind Amazon or Google, it might have a different goal that we are yet to witness.

Importance of Capitalizing AI today

Almost all companies have a belief that, using better quality AI equals more money. But this is not true, what matters is how you use the given resources of AI and what strategies you adopt to monetize AI. The companies who understand how to monetize it perfectly will succeed. The earlier you monetize, the better it is and the reasons as to why you must capitalize now, is as follows: -

Reduces man power

Artificial Intelligence can single-handedly do tons of tasks and reduce the pressure on hiring workers. One such example can be a chat bot. A chat bot will help the customer service department of a company and handle many tasks without the requirement of a single worker. As a result, the workers can focus on other tasks and apply their creativity to improve other tasks where human presence is needed the most.

Analysing the Market

AI can collect all the information of a user and recommend advertisements of the products the user is most interested in. AI can know what the user is most interested in since it has literally every information of the user and can analyse the given information to determine what he/she is interested in. Just like, Amazon advertises only the products you have last viewed.

Data Security

Deep Learning helps to identify malpractices and fraud transactions. With the help of this, the company can ensure smooth cash flow in and out of the system. This is most essential for a company that deals with really high-security information.

AI is the future

According to a survey conducted by MIT, around 90% companies have invested in AI, but only less than 40% were able to figure out how to implement AI properly in their industry and succeed. As I said above, AI is just a tool that is supposed to be used properly in order to benefit from. Everything has its risk, and you won’t be able to grow unless you take a risk. Since the Internet of Things (IoT) is expected to grow exponentially within the next 5 years and there are 7 billion connected devices according to data from IoT, which will increase even more within a couple of years, it is safe to say that you must capitalize on AI. The earlier, the better it will be for you and your company.

So is artificial intelligence capitalized after all?

I would say the answer would be yes, but it has not been capitalized as much as it needs to be or up to its true potential as many companies are just getting into it and testing things with their research teams and open source artificial intelligence codes. We at PISIQ have released plenty of open source codes for AI integration while many other codes are designed for specific organizations and are confidential. Apart from Research and development companies like ourselves not many technology related companies have fully entered the scene of AI.