Welcome to our Discover the Possible Whitepaper exploring emerging technology trends from 2019
The latest edition to the Discover the possible series is ‘The Advantage of Emerging Technology’ White Paper which looks across the emerging technology trends so far in 2019. We also assess multiple types of emerging technology including Blockchain, AI, Machine Learning and IoT.
Advances in Natural Language Processing (NLP) are being used in solutions across AI, Machine Learning and Voice Technology.
A 2018 Capgemini Research study, involving 250 retailers, revealed that 74% of AI use cases in retail are consumer-facing. An example of AI-driven, customer-facing technology is chatbot platforms. Many retailers have integrated chatbots into their Facebook messenger channels, creating a personalised and conversational experience for their customers.
Similarly, UK-based retailer Ted Baker has deployed a chatbot that helps customers track orders, answer queries and drive purchases. These functions are achieved with the introduction of Natural Language Processing (NLP). NLP enables chatbots to simulate human interaction – understanding the message and responding accordingly. Retail is a customer-facing industry, meaning NLP is a particularly pertinent development, it can transform customer interaction, extract key insights and collate vast amounts of data.
Learn more about how emerging technologies have developed over the last few years.
Emerging Technology FAQs
How is IoT transforming quality of life in a domestic setting?
Smart home products and services can take over annoying chores and to recognise individual wishes immediately thus leaving consumers with more convenience. From heating systems to water leak detection from intelligent fridges to smart security cameras, from lighting to entertainment, consumers can track and control devices via apps on their phones not to mention wearable tech like smart watches and glasses as well as sensors for pets – location trackers and interactive cameras.
How is Blockchain changing the face of Identity Management?
The complexity and cost of identity management has grown as the number of people, devices, services and operations grow; from digital identity to device registration, provisioning, synchronisation and reconciliation. Distributed Ledger Technologies provides a unique way to solve this problem. It offers a seamless, secure way of passing identity credentials between different unconnected services from different organisations. The technology is being adopted to solve out the complex ‘Know Your Client’ (KYC), and Know Your Device’ (KYD) workflows.
How is AI and Machine Learning speaking to Retail customers?
Introduction of Natural Language Processing (NLP) enables chatbots to simulate human interaction – understanding the message and responding accordingly. Retail is a customer-facing industry, meaning NLP is a particularly pertinent development, it can transform customer interaction, extract key insights and collate vast amounts of data.
Our “Discover the Possible” series explores the challenges and opportunities of across the emerging technology landscape. “Discover the Possible” separates the fact from the fiction, translating the buzz words and jargon into simple plain language, and analysing real business use cases. The Invenica team collaborate with clients, partners and subject matter experts to produce White Papers, Webinars and Industry Articles to spark discussion and debate across the markets.
