The application of AI into consumer electronics opens up many growth avenues and opportunities.
by Karan Bedi
After taking healthcare, education, and telecommunication sectors by storm, Artificial Intelligence (AI) is now ready to revolutionise the consumer electronics industry within the next five years. As per IBEF’s industry analysis report, the Indian consumer electronics market is expected to grow at 41% CAGR during 2017-20 to reach $400 billion. Evidently, the combination of AI and IoT into consumer electronic products is further going to fuel the exponential growth. Though some of the product segments, including smartphones, alarm clocks, watches, etc., have evolved into smart ones, many are going through a rapid AI transformation phase. The application of AI in this field opens up many growth avenues and opportunities.
AI adoption by industry
Household electronics and appliance manufacturers are leveraging AI to offer smart products to customers redefining their interaction and experience. As per the findings of Gartner, some of the largest companies will be switching to intelligent technologies and Big Data analytics for tailoring their services and products to enhance customer experience. Though the wave has just started, consumer goods integrated with AI capabilities aim to provide world-class customer experience without any need for human intervention. In fact, consumer goods firms are heavily investing in cutting-edge emerging technologies like AI, Deep Learning, and IoT to specifically target advertising and marketing as many shoppers have gone digital and use mobile devices during shopping.
Building smart homes
The completely automated home is a nascent concept in the market today, but steadily we are moving towards the true realisation of it. Many household appliance manufacturers integrate IoT and AI in products enabling the consumers to connect intuitively with their living spaces, equipped with many such AI-powered capabilities ensuring the convenience, comfort and affordability for customers.
From OTT to Smart TVs
The era of Smart TVs commenced with many brands launching their AI-powered smart TVs. As per the report of IHS Technology, global unit-share of Smart TVs increased from 45% to 64% in 2017, reaching 70% by end of 2018. With next-gen intelligent Smart TVs, the users can connect their Smart TVs to the internet without using any wire and access streaming services like Netflix and Amazon Prime. Such OTT content providers make use of AI and its predictive nature for suggesting movies, TV shows, and web series on the basis of the viewing habits of the customers. In the next few years, we can see Smart TVs enabling us to browse Facebook, stream live videos, and check emails. Quite recently, Netflix has integrated AI-powered dynamic optimiser into its system, which compresses online video uniformly according to the internet connection speed. The future of Smart TVs holds such AI-powered dynamic optimiser integration, which will allow the TVs to deliver better quality pictures using less bandwidth.
(The writer is COO, Blaupunkt Televisions India)