Have you ever wondered what all the buzz is around AI and NLP? In this glossary blog we'll break down the essential terms and concepts used in these exciting technologies. From conversational AI and automation to generative AI and Chat GPT, we'll explain how these popular tools are changing the landscape across various industries, including automotive dealerships. So, buckle up, and get ready to learn!
- Generative AI: Generative AI intakes data to create new solutions for questions, problems, or situations. These solutions can be based on existing patterns or new approaches. This technology can generate answers unseen before.
- Chatbot: A chatbot is a computer program used to provide information and answer questions through messaging, such as SMS, MMS, online, and email, as if it were a qualified human being. This technology can be programmed to respond to a wide range of inquiries, from simple questions to more complex ones, and provide helpful and informative responses.
- Chat GPT: Chat GPT is part of the NLP tools designed in a dialogue format. Human AI developers trained ChatGPT and GPT-3.5 models on an Azure AI supercomputing infrastructure. Konect.ai uses ChatGPT in dealership messaging to send customers texts with more information that is simple and natural enough to understand. This deep learning architecture is now a household name synonymous with AI due to its adoption and impact on workforces. See how Konect.ai integrates with ChatGPT to enable two-way AI conversations for dealership audiences here.
- Conversational AI: Conversational AI is a technology that enables communication and conversation with real humans. It can answer questions, understand sentiments, mimic human gestures, moods, feelings, and cognition to perform tasks. With advanced algorithms, conversational AI can provide human-like responses and personalized interactions that enhance the user experience. It can spot keywords to empathize with customers, making a difference in the outcome of the whole process. Konect.ai created hundreds of conversations, and then dealer-focused campaigns using this same AI technology.
- Automation: processes that set systems to trigger automatically based on human-made decisions. It refers to machines automatically answering inquiries and providing information and assistance like human operators. This technology commonly provides recurring information, schedule appointments, and trigger phone calls and conversations at a specific time. Automation helps businesses save time and resources by streamlining processes and providing efficient customer service.
- Natural Language Processing: Natural Language Processing (NLP) is a branch of artificial intelligence that enables computers to understand text and speech at a human-like ability. It combines computational linguistics rule-based modeling of human language with statistical, machine learning, and deep learning models. NLP allows computers to understand and derive meaning from interactions with other systems and languages and to learn from every interaction. It involves using algorithms and machine learning techniques to interpret human language and generate appropriate answers, which can create confidence and trust in communication.
- Machine Learning: Machine Learning (ML) is a subset of AI that allows systems to learn about their world and patterns from examples rather than instructions. ML is categorized into supervised and unsupervised learning and reinforcement learning. The machine learning process enables systems to develop dynamic patterns of thought that become more complex and sophisticated over time. It involves algorithms that allow machines to learn from data, identify patterns, and make predictions or decisions based on that data. As the machine learns, it becomes more accurate and better equipped to perform increasingly difficult tasks with greater understanding and precision without human intervention. This ability to learn and improve over time makes ML a powerful tool for a range of applications and problem-solving in various domains, including auto dealerships.
- Voice AI: a feature of artificial intelligence that utilizes a device to analyze communications and generate text-to-speech capabilities that communicate in a human-like manner. This intelligent technology mimic human tones, gestures, feelings, and moods to create a more natural and intuitive user experience. With voice AI, users can easily interact with devices and systems efficiently, enabling greater access and convenience in a wide range of settings, videos, and messaging.
- Models: mathematical algorithms that are "trained" using data and human expert input to replicate decision processes, enabling automation and understanding. Konect.ai conversational models include sending SMS to set automotive customer appointments. AI models are everywhere in your daily life, playing a significant role in various apps and systems. They leverage data and machine learning techniques to make predictions and recommendations, and automate tasks, improving efficiency and convenience for users.
- AI apps: applications designed for a specific purpose that relies on artificial intelligence to benefit human life. These apps utilize advanced algorithms and machine learning techniques to perform tasks that would be difficult or impossible for humans to do alone. Examples of AI apps include virtual personal assistants and language and image-generative software. With the increasing use of AI in several industries, AI apps are becoming more prevalent and have a significant impact on the future of technology.
With that information, you're up to speed on the latest AI and NLP terms and concepts and now well-equipped to navigate around this ever-changing technology. Whether you're a professional in the automotive industry or a curious learner, we hope you found this glossary blog informative and helpful. So, get a head start on exploring the fascinating world of AI and NLP, and remember, the possibilities are endless!
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