Artificial Intelligence (AI) has seen a huge boom over the last few years – especially in technology-centric continents like Asia, America and Oceania, whilst Europe has fallen behind. But this luck might be starting to change. Let’s take a look at the future of European developments and the ways Asia, the US, and Oceania are dominating in AI innovations.
AI Live Stream Hosts
Traditionally, live streams are hosted by real people, who lead the experience and interact with the attendees. Take something like online casinos, for example – when players join live blackjack online games the host will act as a dealer at a physical card table in a studio. The game is then streamed in real-time to real people who are playing through their digital devices. The host provides a relatable contact, helping to develop immersive and authentic gameplay. Whilst human hosts have their benefits in applications like this, for some scenarios alternatives have been developed.
Over the past few years, Asia has also made leaps and bounds in the development of AI livestream hosts, particularly in countries like China and Japan. AI hosts can either take the form of a human-like avatar or a chatbot and are trained to converse with viewers and provide customer service. These hosts are not limited by human behavior, meaning they can stream 24/7 without a break or the need to sleep. AI hosts are often used in e-commerce and retail as they can answer potential customers’ questions all day and all night, increasing the chance of conversion.
Generative AI
As Asia sits at the top of the game in AI live stream hosts, the US holds the top spot in investment, innovation, and the implementation of generative AI around the world. Put simply, generative AI has the ability to generate text, images, designs, and wider content based on deep-learning models. This may not come as a surprise when you consider that the US is home to some of the biggest players in the industry, such as Microsoft, Apple, Amazon, Google, and Meta.
Although this is a huge achievement, generative AI comes with some considerable nuances. Generative models can essentially learn how to do the job of copywriters, graphic designers, coders, painters, and even engineering designers. The question that remains is then the extent to which generative AI should be employed in the place of their human counterparts.
AI-Based Investment Advice
Oceania is home to some of the world’s most thriving financial technology (fintech) companies. Australia in particular has a thriving fintech ecosystem, especially in hubs like Melbourne. With this in mind, India’s leading AI-based investment tool, JARVIS, announced last year that it would open an Oceania headquarters within the flourishing fintech hub.
Hailed as the technology capital of Australia, Melbourne and Victoria are known to have leading technology infrastructure, a skilled bank of talent, and a burgeoning culture for innovation. This AI-based investment tool uses a risk management system that can monitor investments and provide advice in real-time to investors, managing the lifecycle of the investment from start to finish. The move to such a prosperous fintech ecosystem spells the first big move into AI for this hub – a trend that will likely pick up speed and make for many economic opportunities in the future.
Renewed Hope for Start-Ups
Thanks to a plan unveiled by the European Commission, there is hope yet for start-ups and SMEs across the bloc. Namely, the commission has proposed to provide European AI start-ups access to supercomputers, which means that they would be able to build their own AI models rather than having to use ones built in the US.
This comes after research identified that a key barrier to entry was the expense of purchasing or even accessing the necessary computing infrastructure. It is hoped that partnering with EuroHPC will allow for the development of so-called ‘AI factories’ throughout Europe, where access will be free to those who are undertaking publicly funded research or innovation.
As you can see, Asia and the US currently dominate when it comes to global AI innovations, with Australia seeing a recent injection of investment to take their fintech expertise to the next level. Whilst Europe may not be leading just yet, this new injection of capital and the production of AI factories will hopefully renew hope for European AI innovations in the future.
