Year-Ender 2023- AI applications to look out for, now and beyond

Year-Ender 2023: AI applications to look out for, now and beyond

2023 seems to be the year when artificial intelligence (AI) applications started receiving the mainstream touch. Starting from chatbots all the way to Generative AI, it is believed to be the year when talks around the technology have increased amongst global authorities. Information supplied in the annual global survey by McKinsey & Company, a management consulting firm, showed that one-third of the survey’s participants mentioned their companies making Generative AI’s usage in roughly one business operation. The survey also mentioned that 40% of the respondents spoke on increasing AI-based investments on account of Generative AI developments. According to data provided by Statista, a global data and business intelligence platform, the market size of the AI industry is expected to clock $241.8 billion in 2023 and is anticipated to reach $738.8 billion by 2030, at a 17.3% compound annual growth rate (CAGR) between 2023-30. With the year coming to an end, here’s a look at the top six AI applications that left their mark in 2023 and are expected to increase their market presence in 2024:Sign Up to get access to the Financial Express Exclusive and Premium Stories.Register NowAlready have a account? Sign in

ChatGPT:

Bard:

With regards to the set of Generative AI innovations in 2023, Google’s Bard is believed to have been anticipated for a long time. From what it’s understood, Bard is a conversational AI feature that carries similar characteristics as ChatGPT. Reportedly, the Bard is backed by Google’s advanced large language model (LLM) called PaLM 2, which was launched at Google I/O 2023. Media reports have shown that Google’s Bard is available in as many as 43 languages, along with roughly having a user count of one billion users, as per Meetanshi, a Magneto development company. The company also mentioned that the United States constitutes 37.24% traffic on Google Bard, followed by India at 9.56%. Information provided by SemiAnalysis showed that Bard would have cost Google as much as three billion dollars in usage.

Google Assistant:

From an average user’s perspective, it’s believed that the most used AI application is Google Assistant. Developed by Google, Google Assistant is a virtual assistant software application which is present for home automation and home appliances. Google Assistant has built-in controls that enables one to select their appropriate privacy settings. Furthermore, it enables users to provide voice commands to conduct voice searching for completion of different tasks. Data provided by Yaguara, a market data platform, has shown that Google Assistant is responsible for supporting over 50,000 smart home assistants. In terms of costs, it’s free for usage by users, except for costs incurred at the developmental phase.

Alexa:

Created by Amazon, Alexa is a cloud-oriented virtual assistant technology which enables users to use voice commands to conduct daily tasks. Using NLU, Alexa permits users to complete their needs such as playing music, ordering food, booking a cab, among others. Media reports have shown that over 100 different products have Alexa built-in. Being closely related to Amazon Echo and Dot smart speakers, the technology can be supported on iOS, Android, Linux, Cortana, and Fire OS, and is used by roughly 41 countries. When it comes to expenses, there are no additional costs related to Alexa, except for the Echo Dot speaker which costs approximately $50. Apart from that, older models round up to $30, while newer models can exceed $200.

Siri:

Apple’s Siri is a virtual assistant technology that is compatible with devices of iOS, watchOS, tvOS and macOS. Through utilisation of AI-enabled voice recognition, Siri is capable of responding to users’ questions and supplying required data to them, using applications such as Calendar or Web Search. The feature can also be used to go through mails and text messages and provide replies to them, along with facilitating other functions. Numbers provided by Insider Intelligence, a market research company, has predicted that Siri will have 84.2 million users by 2024. Siri’s cost structure can range from thousands to millions of dollars. The cost of buying Apple’s Siri speaker, called HomePod, especially of the second generation, is close to $300.

Bing:

Established by Microsoft, Microsoft Bing is a search engine that helps integrate the abilities of Microsoft Search and Bing web search. Catered to the needs of family search experiences, Microsoft Bing helps find required outcomes and ensures privacy, through signing in on Bing prior to receiving their results. Users already having an account on Microsoft can get direct access to Bing. Data provided by Meetanshi stated that the Bing search engine is used by over 1.1 per month, with FY22 recording $11.59 billion worth revenue for Microsoft from search advertisements. Going by Microsoft’s official blog, the Bing feature’s pricing structure starts from the S1 Offering, which starts from $25 per 1,000 transactions, $25 per 25,000 transactions for Bing Spell Check, and $10 per 1,000 transactions for Optional Bing Statistics Add-In, and goes all the way to the S9 Offering, which starts from $15 per 1,000 transactions for Bing Visual Search to $10 per 1,000 transactions for Optional Bing Statistics Add-In.

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