Five Major AI Trends to Watch in the Years Ahead [Infographic]
Artificial intelligence (AI) has so far sustained its status as the key driver of digital innovation because a number of eye-catching projects have come to fruition. Artificial intelligence is changing the basic structure of every industry in areas ranging from decision-making and computing, to robotics, agriculture, retail and even cosmetics. The founder of Microsoft, Bill Gates, recently stated in an interview that ‘AI can be our friend and AI is just the latest in technologies that allows us to produce a lot more goods and services with less labor.”
We hear substantial Artificial Intelligence (AI) news every day, from its quantum leap breakthrough performance to dire forewarnings. While the businesses potentially stand to benefit the most from AI, there is a need of protection against any unintended consequences of the technology. 2018 is the time for AI to see significant advancements in the space. A research report by Forrester, Predictions 2018: The Honeymoon For AI Is Over, forecasts that the next phase of AI is all about transformation, reality, planning, liability and substance over flash
Our trends for 2018 on Big Data, Digital Transformation and Internet of Things have been widely received on all social networks. To move beyond the hype and look to the immediate future, we have come up with key trends for AI in the years ahead.
Less Hype More Action:
While the total market size for AI will almost have a twofold increase on a yearly basis, AI will still outgrow the phase of inflated expectations. In 2018, 70% of the enterprises expect to implement AI over the next 12 months, up from 40% in 2016 and 51% in 2017. 20% of enterprises will deploy AI to make decisions and provide real-time instructions. As machine learning and neural network technology take on more routine tasks, real progress towards augmenting human productivity and driving value from tedious tasks will be seen in 2018. AI will erase the boundaries between structured and unstructured data-based insights. Counselor-chatbots with the ability to recognize human emotions will be developed in 2018.
In a recent Forbes article, contributor Daniel Newman states, “Humans simply can’t keep up with the speed at which technology—and customer demands—are moving. That’s why more and more businesses are moving toward harnessing the power of conversational AI chatbots and other virtual assistants to manage the day-to-day flow of work.”
As we move deeper into a customer-empowered marketplace, this trend is not all that surprising. In fact, Gartner predicts that in the next two years, 85% of customer interactions will be managed without a human.
Explainable, Provable and Transparent AI
According to PWC, there are scores of machine learning algorithms in use that sense, think, and act in a variety of different applications. Yet many of these algorithms are considered “black boxes,” offering little if any insight into how they reached their outcome. Explainable AI is a movement to develop machine learning techniques that produce more explainable models while maintaining prediction accuracy. AI that is explainable, provable, and transparent will be critical to establishing trust in the technology and will encourage wider adoption of machine learning techniques.
Prescriptive Analytics for Businesses
This emerging solution category goes beyond insights provided by typical, descriptive analytics that study past events or predictive analytics that forecast future events. Instead, prescriptive analytics goes so far as to the answer the question, “What should be done?” by taking into account a myriad of different factors to optimize the objective or the desired outcome. Businesses will incorporate more prescriptive analytics tools that will recommend actions to optimize business processes, marketing effectiveness, ad targeting, and more.
AI in Medicine:
Artificial intelligence can help make medicine more efficient and safer. By the end of 2019, half of the leading healthcare systems will have employed some level of AI within their diagnostic groups with solutions for population health, hospital operations and an extensive range of clinical specialties.
At SSI, we are among those early adopters, keeping track of all the major novelties that emerge on the tech horizon. For over 25 years, we have been working as a software development partner to Fortune 100 companies, large enterprises and technology challengers. Our team of 200+ engineers and data scientists offers a wide range of software engineering and consultancy services. Here is a list of real-world success stories featuring advanced analytics solutions to deliver a smarter and more personalized experience for our customers. Let us build your AI solution and help you get noticed.
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