Artificial intelligence has this unique ability to simultaneously intimidate, enthrall, and amaze. The potential of this impressive technology is both vast and hard to imagine, as there are simply too many possibilities to take into consideration.
AI has helped usher in the era of industrial revolution, digital transformation, automation, and connected mobility. It powers everything from robotics, aerospace, and construction, to logistics, agriculture, decision-making, and the most advanced data analytics.
By 2025, the global AI market will reach $118.6 billion. The world’s most developed countries are already looking for their place in this fast momentum-gaining environment. With all this in mind, let’s see what the latest AI trends are in 2020.
Evolution of Robotics
The moment AI emerged and took its place in a wide range of industries, humans began fearing that they might be replaced. The notion of having programmed robots replacing workers at certain positions was unappealing, to say at least.
However, things became a lot clearer when they realized that AI wasn’t there to replace them per se, but to assist them by removing repetition from everyday tasks. That’s how robotization was brought about.
Robots are very popular in the business world today simply because there is so much they can do. They can do all those tedious and manual tasks that require constant repetition. This sort of complete automation is the future of the industrial world. The reasons are quite clear too.
Robots can significantly increase efficiency while saving time, effort, manpower, and resources, allowing their human counterparts to focus on core missions that require human intelligence.
Data Enabling Ubiquity
In the world of the internet, data is the new currency. Experts predict that data will be more precious than gold or oil. Data is the main building element of fortifying the power and potential of AI. It is the information that makes AI more versatile.
The biggest reason that often hampers the transition to automated decision-making, powered by AI, is the lack of reliable, relevant, and accurate data. However, the ongoing digitalization is helping to overcome such a challenge.
Digitization has helped gain more accurate information and data, improved research capabilities, reduced costs, and streamlined processes. Aside from digitalization, AI technology like deep machine learning is in charge of making everything digital smarter and more intuitive.
There are chatbots, virtual and voice assistants, various assisting software, and more. Data led to a drastic increase in the use of AI. All industries are now fully aware of how helpful AI and machine learning can be in terms of widespread availability and cost-effectiveness.
From healthcare, medicine, and science to manufacturing, banking, IT, and education, AI is present in everything we do daily. Even the news industry is relying on AI to come up with up-to-date coverage of news articles.
Companies like Webhose rely on the latest intuitive technology to provide direct access to live web data from the best online news sites around the world. AI and web data are slowly but surely introducing the concept of interconnected devices that can learn on their own and process massive amounts of data by relying on AI-powered machine learning.
The realm of business is in the phase of hyper transformation. Businesses of all sorts and sizes are making huge efforts to gain knowledge in real-time, get ahead of the competition, and embrace the benefits of digital transformation.
More importantly, enterprises are doing everything in their power to find out all about consumers, their spending habits and buying preferences, and deliver the most personalized service and user experience, every step of the customer journey.
AI-powered location intelligence and real-time big data analytics have given businesses the much-needed leverage of customized and mainstreamed services across all verticals, from online marketplaces to urban mobility.
With ever-increasing customer demands and expectations, businesses have to provide value, relevant services, and more personalized customer experience to remain competitive and relevant, and retain their customer base.
That’s where AI is simply unprecedented. The increasing adoption of AI-powered applications in every area, along with advances in location intelligence, will enhance and augment the capacity for providing more personalized and sophisticated services.
Security breaches and data privacy are among the top concerns of modern internet users. The age of IoT and AI has brought many fantastic advantages and the risks of security preparedness. There are currently over 24 billion devices connected to the internet, and it will only increase by 2022.
Traditional cybersecurity is too outdated to adequately address the latest cyber threats, and it has become increasingly hard to detect cyber attacks like phishing and hacking. However, thanks to deep machine learning and AI, there are modern AI-powered cybersecurity solutions that can safeguard businesses and individuals from the most advanced malicious attacks.
The future is AI is more than bright. This technology will continue to benefit our society. Real-time data analytics offer such abundant potential that can be harnessed and applied across all industry verticals. The more it evolves, the more it can help the world evolve with it.