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From face recognition applications to the tracking of the work tools

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The role of artificial intelligence (AI) is becoming increasingly important in our lives. Its market is set to grow by 40 percent a year in the coming years, with the European Union alone: it is predicted to be spent €20 billion a year.

From healthcare to transport and industrial production, AI is transforming the way many sectors work - yes, it can already write articles on its own or filter out false information on the internet.

"Fourth-generation technologies also offer companies a wealth of opportunities for business development, from facial recognition applications to work tool tracking,"

states Péter Borzák, CEO of INSPYRE Informatics.

According to ABI Research, a New York-based tech consultancy, the market for services based on the most advanced technologies within the IoT field, such as AI and machine learning, will grow by 40 percent annually in the coming years, with sales in the field reaching $3.6 billion by 2026.

The importance of the role of artificial intelligence is illustrated by the European Union's ambition to invest more than €20 billion a year in this area.

Europe wants to lead the way in AI projects and make the period up to 2030 a "digital decade".

Algorithms run our lives

What developments are currently shaping our lives?

"Many people still think of AI and machine learning as an immature, future technology that won't affect our daily lives in years - but they are wrong.

At this moment, even while reading these lines, the reader is still being influenced by AI and machine learning:

the social media or Google's search algorithm has been analyzing the user for a long time, and it is precisely on the basis of this that it landed in front of the reader suggesting that he or she would find this topic, this article, interesting", added Péter Borzák, CEO of INSPYRE.

He mentioned another example from the realm of social media:

when we take a photo with our smartphone, artificial intelligence in the background analyses and corrects the picture we take in a split second to ensure the best possible quality of the final result.

Fourth-generation technologies for business

Fourth-generation technologies in business also offer companies a wealth of opportunities for improvement, stating INSPYRE Informatics, which has significant domestic and international experience in the application of such technologies in business.

For example, a company recently developed a tracking and administration application where they used image recognition and image processing (both AI-powered solutions) in an assembly plant in Hungary. The application tracks the location of products and work tools in the tens of hectares of the plant and the work phase they are involved in.

Not only are these technologies ahead in analysis, they are also ahead in inference - and this opens up a number of opportunities for application in the creative industries.

WeVerify, for example, a fact-checking and fact-finding tool, offers plug-ins online that help fact-checkers, journalists, human rights activists and citizens to verify the veracity of published videos and images and where necessary, debunk false information.


Writing applications have also started to be used, which first "find out" about a freely given topic by means of Google searches, then draw their own(!) conclusions from the results and write an article.

Moreover, so-called Fluency AIs interpret sentences written in English and make them more "native" in terms of vocabulary and word order.

We need to regulate the field

What can we expect in the future?

"Reliable AI can bring benefits in a number of areas: it can improve healthcare, make transport safer and more environmentally friendly, increase the efficiency of industrial production, and make energy production - and use - cheaper and more sustainable,"

says Péter Borzák.

He points out, however, that as technology develops, the issue of regulating artificial intelligence is becoming increasingly important.

The European Union has already issued a draft regulatory code that seeks to define the concept of AI with legal precision, which it defines in three elements: AI must use specific technologies, be able to (autonomously) pursue human-assigned goals, and produce outputs (recommendation, decision, prediction) that "influence" the environment.