In recent years, Munich has become a hotspot for the start-up scene around app development, AI and other technologies. The reasons for this are various developments towards becoming a startup-friendly city. We took a closer look which 5 aspects played an important role for this.
AI Chatbots: Artificial Intelligence generates curiosity like nothing else. The mix of reality and assumptions make it an instant buzz. But, in the last two years, AI has been creating hype for a reason. It has entered into mainstream business in the true sense of the word. And you’ll be surprised to know that global funding for AI has jumped by 60%. Isn’t it interesting? Also, the investors are no more willing to invest in projects that don’t involve AI. This is the sign of the impact of this innovative technology.
The European Commission spread the word that a strong AI ecosystem will be one of the decisive factors for overall competitiveness in the upcoming years. While currently the dominant global player is still the USA, that laid the foundations for current supremacy decades ago. China and the European Union are trying to catch up in the field of artificial intelligence with varying degrees of commitment and success. The strategies are quite different, not only because of the cultural reasons.
With a an estimated worth of $3 trillion, the Fashion Industry is one of the most valued sectors worldwide. The potential of using AI in this industry is actually bigger than we all can imagine. Artificial Intelligence chatbots is only a first small step, as the Fashion Industry is more complicated than it looks.
With the emergence of AI, industries are booming today by leveraging Artificial Intelligence. So it is not just a buzzword anymore but has become an integral part of the industries. Most of these industries have undergone a transformation with the applications of AI. By the way, statistics say that by 2035, AI will boost the economic growth by 1.7% across 16 industrial domains.
Artificial Intelligence in the Beauty Industry is the next revolution that all women around the world would be very excited about. AI can not miss the industry that is worth now 445$ billion. Great number, right? From cosmetic stores, beauty corners to supermarkets, beauty products are everywhere.
Artificial Intelligence is no longer futuristic fiction. It has become reality. A reality that is slowly changing every dimension of our lives. And it is time that AI becomes available for smaller companies as well.
Emotion detection – Understanding and predicting human emotions has never been easy. We often cannot explain our emotions and why we feel what we feel. This is where AI comes into play. AI can provide new insights into this topic and be a viable method to automatically and accurately detect human emotions.
Human-like AI is the next big step in the development process of Artificial Intelligence. The question now is: Do we really want that to happen? Do we really need human-like AI?