“According to Global Market Insights, the Consumer Electronics market will generate USD 1.5 trillion in sales by 2024”.
Artificial Intelligence (AI) & Consumer Electronics (CE) Industry
The consumer electronics industry is leading the charge by incorporating emerging innovative technology such as AI & Machine Learning Solutions into their offerings. For enterprises who wish to improve their customer service, combining AI and machine learning into their operations opens up multiple growth opportunities.
To remain competitive and active in the coming years, the Consumer Electronics market, as one of the largest and unavoidable markets, is accepting AI. These tech-powered breakthrough innovations are being adopted around the board of consumer electronics. Smart devices range from traditional consumer electronics such as smartphones, TVs, laptops, cameras, and speakers to voice-activated appliances gaining maximum traction. By adopting and leveraging AI Solutions, the consumer electronics industry is getting a reboot and seeing stellar growth like never before.
Why is AI being adopted at such a rapid pace in the CE industry?
The consumer electronics market is booming, thanks to the growing proliferation of smart electronic devices. Companies are going to great lengths to create AI-driven consumer electronic devices that will make our lives even easier. Companies are actively invested in breakthrough technology such as IoT, deep learning, and AI as the internet and urbanization develop.
Consumer behavior is changing.
Consumer lifestyles are evolving due to increased urbanization and internet use, resulting in a shift in expectations. Their – preference for smart and intelligent gadgets has resulted in a rapid expansion of the consumer electronics industry. AI Solutions is increasingly being used in all sectors to save time and effort.
Abundance of data
Data access in the CE industry can be seen in audio, video, images, directories, and other formats on different online platforms. Companies have been required to adopt numerous cutting-edge innovations such as AI & Machine Learning Solutions, Deep learning, and IoT to make the most use of these results. These data are being used to consider their consumers’ needs better and desires and identify ways to engage them. For example, when watching Netflix, it makes video suggestions based on our content preferences. It aids show creators in making decisions about project expenditure and content selection.
To remain competitive
Companies must now integrate AI Solutions into their operations to stay ahead of their rivals. Improving consumer service is now a top priority for them. Customers are choosing products that will provide them with a more customized connectivity and comfort experience.
Availability of affordable AI-chipsets
Companies didn’t use AI chipsets a decade ago because they were either unavailable or very expensive. The CE industry has now taken off, with low-cost AI chipsets readily available on the market. Companies are widely adopting these AI-optimized low-cost, stable, and high-performance AI chipsets.
Applications of AI in the Consumer electronics industry
It’s no longer science fiction to be able to monitor and manage your home’s activities secretly. With just a hint of your voice order, AI has made it possible.
These smart home systems are doing everything they can to make our lives simpler than ever before, from controlling our home appliances to monitoring our homes to making them safer to be a partner at times.
Smart Security Systems
AI Solutions in home appliances not only provide convenience but also makes our homes cleaner. Face recognition and voice assistants, all of which use machine learning technology, are used in AI-powered security systems.
Intruders are identified using facial recognition technology in AI-integrated cameras, and voice recognition technology is used for human-to-machine interaction and domestic chore automation.
Digital Personal Assistants
AI-powered personal assistants use speech recognition technology, but what you need is a smidgeon of your voice instruction. Imagine leaving the house without having to care about your work schedules, appointments, locking your car, turning off mobile gadgets, and then returning home and relaxing without having to worry about food, groceries, or something else.
Every year, companies like Google, Amazon, and Apple spend billions of dollars to make these computers smarter and have a more customized experience for consumers.
Enhanced Entertainment System
If the film industry grows, AI Solutions reveals its ability to transform the media and entertainment landscape. Media organizations use machine learning, artificial learning, and computer vision to promote content and expose it to many audiences.
Companies will deliver the right content to the right person, understand their consumer needs, and support the content by incorporating AI into the entertainment business.
Wearables/ Fitness products
Smart wearables are rapidly expanding due to their user-friendly features. Smart wearables are used for in-the-moment control, such as exercise tracking, analysis, and improvement.
It also stretches the envelope with devices that include wearables for elderly treatment, monitors remotely, diagnoses illnesses remotely, and advises consumers on how to take care of their wellbeing depending on the findings.
Challenges faced by the CE industry
The consumer electronics industry’s image isn’t enthralling. Obsolete innovations, skyrocketing costs, and emerging technological penetration all hampered the sector’s ability to get its goods approved by consumers.
Customers want modern functionalities and cutting-edge technology, but they want them to be available. Customers, for example, expect their home theatres to be able to connect to other devices such as TVs, phones, and other entertainment devices without having to pay extra.
When products or innovations refuse to follow business law, they struggle. The consumer electronics industry must incorporate the emerging technology revolution into its goods. Companies that fail to do so would have a very slight risk of surviving. Standard cell phones, for example, are no longer in use, and AI-enabled smartphones are in high demand.
CE organizations must consider the dangers associated with emerging technologies before incorporating them into their operations. The secret to success is striking the right balance between creativity and risk. These dangers may be linked to computer security, funding, adoption, and a shorter time-to-market.
Utilize AI’s full capacity in the CE market
The age of artificial intelligence has arrived, and it is already changing our lives. By incorporating AI Solutions into the consumer electronics market, computers can become more autonomous and capable of assisting consumers. The consumer electronics market is undergoing technological disruption, and customers are getting more competitive over time.
Consumers would eventually demand that cameras use machine-learning algorithms to take the ideal shot with the correct focus and perspective without any human interference and post it to social media sites. AI-powered shopping devices that can help customers find their preferred brands based on their preferences. There are a plethora of options available.
When we look past AI Solutions capabilities, safety will be the most pressing issue. The most difficult question is how much knowledge we can exchange with these machines to obtain a valuable customized experience. However, if we tread carefully, we can see a massive AI eruption in the coming years.
Let’s get going.
With its rich experience designing and developing embedded multimedia applications for AI-enabled smart devices, Teksun Inc will help you get the next-generation products to market faster. Please email us if you have any questions about Teksun or looking for AI & Machine Learning Solutions. Alternatively, why not schedule a call with us?