As enterprise use of AI grows, so are With these new capabilities, AI is making the capabilities of intelligent systems. a larger impact across companies. On a 2019 benchmark test, a best-in-class NLP model scored In a 2019 survey, 62 percent of US consumers said they liked 28 near the human baseline level of language processing tasks like using chatbots to engage with businesses. Now, 80 percent semantics, argument structure and logic. A new benchmark had of businesses are expected to have some sort of chatbot to be introduced to keep up with the unexpected pace of the automation by 2020.29 technology’s progress.24 Companies are exploring the future role that AI will play in talent Google developed a speech recognition model to be hosted acquisition, with 36 percent saying they expect the usage of AI on-device for its smartphones. The model transcribes speech in recruitment to be high or very high in two years.30 almost instantly on a character-by-character basis and is compressed 25 to only 80 megabytes. Advances in NLP have improved translation AI is starting to reshape industries as well. In the pharmaceutical offerings, too: Waverly Lab’s “Pilot” headphones can translate sector, revenue from AI-generated solutions is expected to grow 31 15 languages during a real-time conversation, and the company to $2.19 billion by 2022. The market for generative design is sold 35,000 devices in less than a year.26 expected to grow at a 16 percent compound annual growth rate 32 (CAGR), reaching $124.58 million by 2023. AI is even taking over These intuitive advances are driving big business. IHS Markit Wall Street, where algorithmic trading is accounting for a growing predicts that the global smart home market, which reached percent of total trade volume.33 $41 billion in 2018, will grow to $192 billion in 2023.27