Artificial Intelligence which is also known as AI, has been acclaimed as a revolutionary technology globally. It has been a favorite technology trend among technology enthusiasts and continues to gain popularity among various industrial sectors. Artificial Intelligence and Computer Vision have enabled computers to see and make meaningful conclusions from digital images and videos. Thus, automate tasks that the human visual system can do and make their lives easier.
Various smart utilities like Inspection tools, bots and their corresponding AI-based analytical systems have played a key role in shaping the backbone of Artificial Intelligence over the past couple of years. But the recent boost in AI and Computer vision has been made possible by the recent advancements brought in by the evolution of deep learning and GPU. It has led to a significant rise in AI applications across multiple industrial sectors. Not only such applications have made AI trending among people but also will keep on playing a fundamental role in human lives.
Most modern devices or services that we see and use in our daily lives have some form of AI baked into them. Popular examples of such devices and services include Google Home, Amazon Alexa, Netflix recommendations, Google lens, and many more. Apart from improvising basic human-computer interactions around us; Artificial intelligence and computer vision have also played a crucial role in the development of fields like automotive, healthcare, eCommerce, finance, and mobility.
All these sectors have greatly benefitted with improvised accuracy gained after implementing smart AI and machine vision solutions. It is predicted that computer vision will have a projected market estimation of 22 Billion dollars by 2026. As of today, various innovations have contributed to the rise of Computer vision.
These include novel revolutions like:
- Modernization of photography by combining existing technologies like mobile phones and cameras.
- Buying a powerful computing technology has become cheaper and easier significantly.
- Equipment used to implement technologies related to computer vision-based analytics is widely accessible.
- Smart algorithms-based utilities like convolutional neural networks can greatly benefit from advanced software and hardware capabilities.
Computer vision has significantly progressed as of these innovations. Part of this progress is witnessed inefficiency of object classification and identification applications. Their accuracy has boosted from 50% to an astounding amount of 99% in a time period of less than a decade. These advancements have benefitted computers to enact quickly to visual inputs.
With that said, here are some Hot trends in AI and machine vision that one should be on the lookout for in various sectors:
As most banks serve to hundreds of customers on a daily basis, they need to ensure that all kinds of quality and security standards are widely distributed across all kinds of servicing platforms. Banks often face challenges like seamless and wider adoption of regulatory processes, Short lasting impact of expensive audits from sample data and physical monitoring implementation across all destinations.
A vision bot-based AI inspection security system can greatly help banks in addressing all these challenges. Such systems not only automate mundane processes across all branches but also allow banks to analyze camera feed data for multiple use-cases. Real-time anomaly alerts from this system enable banks to comply with security, workplace, safety and hygiene compliances at the same time. All of this made possible with around the clock monitoring and proactive security that helps prevents banks from any kind of unusual activity.
Banks have also started to implement identification systems like KYC using technical solutions. Computer vision solutions enable banks to assess various factors like customer emotions and facial signs. This data is then processed by an AI inspection utility to deliver a personalized banking experience across multiple channels uniquely; helping banks to improvise their revenues.
Enterprise businesses like manufacturing companies deal with a multitude of entities like clients, assets, and projects at the same time. Dealing with a lot of activities related to these entities at the same time often leads businesses to stray their focus away from important manufacturing duties and get invested in repetitive and mundane tasks.
To evade wasting time and resources, modern manufacturing companies make use of AI-based automation solutions. These solutions help the industry in various manufacturing-related aspects. Such platforms allow businesses to collaborate unique deep learning solutions with AI to evade manual labor inspections. The platform makes use of a computer vision to real time analyze data gathered from a camera feed. This data is then utilized by to generate automated inspection reports and makes use of insights showcased in the reports to promote a visual process improvement. Processes benefitting from this include defect detection, product assembly, predictive maintenance, and packing analysis.
3. Retail experiences:
Various technologies have emerged to cope with the needs of ever-growing retail spaces. However, most retail businesses have been suffering from bad customer reviews. These reviews are largely concerned with the lack of proper security provisions at stores. AI powered inspection automation thankfully has changed things around in such spaces with their diverse profile of applications.
Deploying computer vision-based solution can help shop retailers improve customer experience in multiple ways. It allows shop owners to monitor various operations like inventory tracking and social distancing practices alongside complying with multiple security, safety, and workplace standards. The insights gathered by AI based analytics can then be utilized to deliver a better customer experience and improvise store productivity.
Machine vision and AI Inspection have been playing a crucial role in the implementation of essential applications in healthcare. Some of such popular applications include Cell segmentation, COVID diagnosis, and cancer detection. AI vision bots help machine vision detect patterns and help reduce the bodily effects of various diseases.
Apart from that, machine vision is also used for evaluating the performance of learning medical practitioners. The quality assessment offered with AI powered inspection automation technology enables specialists to quickly analyze a learner’s performance from simulation software.
Most healthcare organizations make use of standard video surveillance equipment to monitor their facilities. However, this equipment limits its application to monitoring purposes. If such institutions make use of video data capturing techniques, they could greatly benefit themselves with better security privileges and improvise operational efficiency of monitoring by collaborating AI visual inspection automation platform. This platform takes advantage of computer vision to offer a better proposition.
Applications of this system allow for easier detection of events and incidents captured in the video feed. Once captured, this data can also be used for applications related to business intelligence. For example, insights gathered from data collected over a certain period of time can be used by hospitals to understands patterns related to patients and visitors visiting a facility, inspect unauthorized access of restricted sections, continuous monitoring, service frequency and more.
5. Highway safety:
Most smart cars come preinstalled with smart accident prevention systems. These systems rely on computer vision-based AI inspection process different aspects like speed, lanes, and type of road as a car moves on the road. Continuous monitoring allows the car to inform of potential accidents to the car drivers and stop the car in some cases. People are prone to sleep while driving on the highway for longer periods. An interior facial recognition system helps evade accidents by sending sleep prevention alarms to drivers.
Moreover, road traffic has been significantly rising for several years. This has made it extremely difficult for authorities to keep monitoring at all locations. Making use of smart AI and computer vision-based platforms can remove the requirement of having to look over roads again and again. The monitoring service offered by such a system can help detect traffic jams, fallen objects and other incidents effectively. Such systems are often installed with CCTV equipment on highways and country roads, allowing authorities to continuously monitor the feed for actionable insights.
6. Traffic safety:
Thousands of vehicles move on roads every day. While traffic safety was a minor concern during earlier days, it has become a chore to manage these days due to the increasing volume of vehicles on road. Moreover, most inexperienced drivers tend to break basic driving rules by violating red light, helmet and seat belt regulations. Modern Artificial intelligence addresses these problems by implementing accident prediction models and regulation inspection systems. They help improvise road safety analysis by comparing factors like unsafe driving styles and crash prediction.
These are some of the hot tech trends in AI and Machine vision everyone should be on the lookout for. From just being a mere concept to being a revolutionary in every possible tech space, Artificial intelligence and Machine vision continue to turn people’s heads and often spark curiosity about the future of different technologies.