Artificial Intelligence AI – For the last few years companies have been introducing AI technology into their products. Integration of AI technologies is a major comparison factor for differentiation in products and services, with the consumer not comparing AI ability, but rather the consumer experience given from seamless AI integration.
All major manufacturers are already taking a mixed approach of cloud-based and local AI capabilities for their products.
AI drives technologies such as machine learning (ML), natural language processing, computer vision, and virtual private assistants used with a collaborative holistic effect they deliver an opportunity to create new areas of consumer demand.
Vendors are moving away from cloud based AI for common core capabilities and placing the AI or ML technology, and resulting computer load, on the device.
In a very short space of time vendors will copy the algorithms used in premium products to deliver the same AI embedded functionality on all products in fact AI is set to be so ubiquitous that it will be seen as an indispensable capability for providers to be able to compete.
Once hardware is empowered with AI technology one creates new product segments and opportunities for portfolio growth such as intelligent items in the home, think Amazon Alexa, and personal robots.
The opportunity for the manufacturer, lies in not viewing a product as an item consumers use, but rather an item, that provides consumers a service. Once you add a service layer, you identify the AI capability required to be added to the product.