In the past few years, AI, or Artificial Intelligence has grown and affected the business and other industries in what feels like a blink of an eye!. Systems powered by AI currently significantly improve and enhance efficiency in today’s daily activities. With the help of AI, organizations have built up a digital world extending beyond borders and combining several industries. At this point, artificial intelligence plays some kind of role in all industries globally.
AI is developing exponentially and is expected to change the ways we live even more and take things beyond our wildest dreams. A recent study by Deloitte showed that 82% of companies that invested in Artificial Intelligence had great positive returns. Out of the 82% of respondents, according to 35%, the business decisions due to AI are faster and more accurate.
This blog sees some of the AI trends that will impact not just the workplace but also our life in the future.
10 Artificial Intelligence Trends Worth Looking At
How AI changes the workplace for people is a debate going on for years, some say it will cause a decrease in jobs, and some predict that AI will offer more jobs than be a threat to losing them. The debate will carry on, however, there is no surprise that AI systems will be responsible to make decisions instead of humans, like approving loans, identifying corrupt customer services, and financial theft.
Huge companies like Amazon, one of the pioneers of innovative AI systems, are taking huge steps in this area. In 2018 they opened a high-tech grocery, a first of its kind. The store consists of no traditional checkouts and uses the same AI technology as in self-driving cars. Another giant, Walmart, is expected to introduce robots to its workforce. They are doing this to help manage inventory more effectively along with many other pros. More breakthroughs like automated payment, biometrics, robots, and many other AI-based technologies will change the way companies do their business.
Speech Recognition And NLP
Speech recognition and NLP are powering businesses by delivering information related to the business to the customer, delivering value. Nowadays, customers mostly prefer chatbots on websites or blogs, which has made them one of the most famous communication channels. They benefit companies by being available 24/7 and are easier and cheaper to manage.
Juniper Research predicts that chatbots will save companies up to 8 billion dollars per year by 2022. NLP has introduced new trends like virtual assistants. According to Deloitte, 64% of smartphone users globally communicate with their virtual assistants like Siri and Google Assistant, which is quite a huge market to exploit.
Computer Vision And Surveillance
AI is playing a great role in developing computer vision processing and surveillance networks. Developments in computer vision are making systems more aware of traffic flow and improving efficiency in operations of different industries. Computer vision smartly deploys people and enhances awareness in different situations.
The market for computer vision is expected to rise by 7.80% between 2018 and 2023. The market will mainly be driven by the increase in the use of computer vision devices like autonomous vehicles and image sensors.
Deep learning is an aspect of AI that is being talked about the most these days. It is a similar technology being used for voice control and driverless cars. Increasing numbers of voice-enabled applications like Alexa and Google home have enhanced the importance of deep learning.
The demand for such devices is rising along with the interest of researchers to find further algorithms. Deep learning will enable machines to solve some of the most complex problems and facilitate customer success.
People using voice assistants have increased by quite a bit. AI systems help perform tasks like calling and searching the problem and others. The National Public Media reports that 40 million people in the US use a smart speaker or voice search. People are becoming more used to interacting with voice-powered devices, which enables the sales of the smart speaker to continue to rise which increases the use of voice search in return. Hence, it has become very important for businesses to focus on voice search to keep up with the competition.
Blockchain Synergy Combined With AI
Blockchain and AI are facing several challenges separately like security and privacy issues. To cope with this combining both of these technologies can work wonders. The data will be decentralized and will be fueled by AI algorithms, becoming transparent as they analyze large amounts of data for solving the issues.
Increase In Accuracy
The accuracy of data is very important in the healthcare industry, which is why AI is used to enhance accuracy and can also be used to accomplish many healthcare functions. From providing medicines according to the prescriptions and many others, AI has a lot to offer to healthcare.
Content And Artificial Intelligence
There is a lot of competition for businesses to produce engaging content, as most of the work is done through online sources. Content creation and other business tasks take time and are exhausting. The advancement in artificial intelligence is a great solution as you can create content faster
AI and Quantum Computing
The effectiveness of Artificial intelligence can be increased by allowing it to access quantum computers. Deep learning is increased in this way by quantum computing which enables greater power and speed of the computers. This can allow solving difficult problems, like finding planets similar to Earth, changes in the climate, or cures for cancer.
GPUs that have parallel processing abilities can accelerate the deep learning of AI. It can provide greater power than CPUs which allows for processing terabytes of huge data in machine learning.
Artificial Intelligence, Freaky, But Problem Solving!
The advancements in AI mentioned above will offer great benefits that will change the way businesses of today work. AI has already been implemented in many companies across different industries. Moving forward, it is predicted that by 2020 AI will be a part of every country.