Google acquired Api.ai to step ahead in natural language understanding

California: Google recently announced to acquire Api.ai, a start up with tools for speech recognition and natural language understanding. The acquisition will help Google to append its existing natural language understanding and speech recognition tool named Google Assistant available through text messaging interfaces and Google Home Speaker.

Api.ai offers a conversational assistant app to more than 20 million users in addition to its developer tools. The company pioneered in helping developers design, build and continuously improve the conversational interfaces. Over 60,000 developers are using Api.ai to build conversational experiences for Facebook messenger and kik to name a few.

The acquisition will help Api.ai to have Google’s knowledge infrastructure and support with access to best available technology and developments in AI and machine learning.          

TechSci Research depicts that with presence of many start-ups available in country, the market is expected to undergo consolidation in the coming years to bring in more advance natural language understanding tools. Growing application of speech recognition, image recognition and natural language interfaces is gaining traction in the country which represent high demand for these tools in future years.

According to a recent report published by TechSci Research, “United States Artificial Intelligence Market, By Application, By Region, By End User Competition Forecast & Opportunities, 2011-2021”, the market for artificial intelligence in the US is projected to grow at a CAGR of around 75% during 2016 - 2021. Growing trend of integration of video surveillance with artificial intelligence for video analysis, coupled with rising government spending on cyber security solutions integrated with real time analytics and artificial intelligence is expected to boost artificial intelligence market in the United States over the next five years.