Smart machines are embedded with cognitive computing ability, which uses artificial intelligence and machine learning algorithms to sense, learn, reason, and interact with people in different ways.
These machines can think and problem solve accurately and precisely, in order to provide the desired output.
Evolution of Smart Machines
It’s this ability to problem solve that is helping the Global Smart Machines Market to grow significantly, with a CAGR of 19.78 percent from 2014-2018. But before you go picturing some Skynet-esque dystopian future where robots rule humans as their slaves, take a deep breath and consider that you’ve probably encountered more than one of these smart machine recently.
Top Three Smart Machine Segments
In 2013, the expert systems segment accounted for the bulk of the market, with more than a 57 percent market share. Autonomous robots took second place, with a share of more than 21 percent, and intelligent virtual assistants (IVAs) brought up the rear, although this segment is expected to see major growth through to 2018 thanks to increasing implementation of IVAs in the service sector.
While all three segments might sound like they’re straight out of sci-fi, they actually have some incredibly down-to-earth applications:
Expert Systems
An expert system is designed to emulate the decision-making capabilities of a human. They are enabled with human knowledge to solve problems that would typically require expert input, and are typically used in sectors such as automotive, consumer electronics, healthcare, and industrial.
Similar to how a person would go through the steps of problem solving, an expert system also goes through a series of stages to identify the problem, collect information related to solving it, and implement and validate the solution.
Autonomous Robots
Autonomous robots can perform tasks without human intervention. The characteristics of an autonomous robot are:
- Self-maintenance
- Ability to sense the environment
- Ability to perform physical tasks
- Ability to navigate point to point
These robots are primarily used in manufacturing, in order to automate assembly processes. Effective deployment of autonomous robots in manufacturing enables companies to improve their overall efficiency and reduce their time-to-market. More recently, autonomous robots have been put to work outside the factory (think self-driving cars), as vendors look to expand their capabilities, and obtain more solid footing in the market.
Intelligent Virtual Assistants
An intelligent virtual assistant is a customized automated digital character, such as an avatar or a 3D animated persona that provides information and service assistance to customers.
Intelligent virtual assistants are taking over customer contact centers, as these assistants possess large volumes of knowledge and combine natural language processing and artificial intelligence to solve almost all user queries with more than a 90 percent accuracy rate.
Intelligent virtual assistants are classified into five generations:
First Generation
- Based on text format with no involvement of cartoon images or pictures
- Back-end enterprise knowledge base varied in its ability to deliver a single correct answer
- Not widely accepted by end-users as it had very low-quality user interface
Second Generation
- Interactive moving and cartoon-type characters
- Interaction was in text-to-text format with little speech.
- Back-end knowledge base was more sophisticated compared to the first generation
Third Generation
- Contained moving and animated characters humans
- Responded to speech
- Back-end knowledge base was more sophisticated with the functionality to measure response accuracy
- Interaction was mostly text-to-text, text-to-speech, and speech-to-text
Fourth Generation
- Improved quality of the cartoon and animated characters
- Responds to the tone and content of the interaction
- Back-end knowledge base delivers a high level of accuracy in queries and measures search result accuracy
- Built-in dashboarding and analytics platforms
- Contains mobile solutions
- Interaction is primarily text-to-text, speech-to-text, and speech-to-speech
Fifth Generation
- 3D images
- Responds accurately to the tone and content of the interaction
- Knowledge base delivers extraordinary accuracy in queries and has the ability to request feedback from the user
- Interaction is primarily mostly text-to-text, text-to-speech, speech-to-text, and speech-to-speech
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