Well, the last decade has given us a fair idea of what Artificial Intelligence can do and how unknowingly we have made it an integral part of our everyday lives. From smartphones to computing systems and the various gadgets we use in our day-to-day lives, AI has given mankind technological comforts that were unknown before. Even during the ongoing pandemic and its challenges, AI plays an important role in the medical diagnostic systems with robots assisting in medical procedures.
As per the market researcher IDC, the revenue from AI hardware, software, and services was expected to reach $156.5 billion worldwide in 2020, hence in 2021, we can expect the numbers to surge even further. Well, this revenue growth is bound to happen, as more and more businesses are leveraging AI’s benefit to improve customer experience and increase productivity!
So, what does one expect that AI will bring to the table in the next half of the year? The last decade saw Artificial Intelligence being introduced in the industry at numerous segments at a rapid pace. In this article, we will discuss the emerging AI trends that will impact the market in 2021 and in the coming years. Let’s delve further into it –
While the pandemic has already accelerated the adoption of technology, AI tools are in place to help businesses understand their consumers better. With concepts such as behavioral analytics and personalization, the businesses will seek to establish themselves further. Tools providing organizations with self-service access to this technology will become increasingly prevalent throughout 2021, as small and medium-sized enterprises are seeking to establish their competitive edge.
Over the years, consumers are readily adapting to the IoT devices and now it has become a part of life along with increased use of 5G adoption. This will further give a push to edge computing and AI will be better utilized at the edge. The combination of AI, IoT along with edge computing, will bring further fruitful insights from a large amount of data that will help the enterprises to make learned decisions.
Organizations have come to know that developing the right AI engineering process is essential. Ai engineering consists of DataOps, ModelOps and DevOps. In it, ModelOps helps businesses to operationalize their AI models efficiently and deploy them via the Cloud. This year will see more organizations focusing on effectively moving their AI models up with ModelOps to strike that right balance.
Merging AI and Machine Learning with cybersecurity systems will be dominant in the coming times. With the increase in the number of internet users, upscaling the cybersecurity game is the need of the hour. AI and ML technology can help to identify current as well as future threats. The AI embedded cybersecurity tools can collect data from a company’s internal systems, as well as from external sources, and thereby identify threatening activities. Ai is also being largely used in home security systems nowadays.
As per Forrester’s predictions, more companies will look to AI to help with workplace disruption for employees working from home. This will also include applying AI for document extraction, customer service agent augmentation, etc. Organizations need to apply AI in both short-term and long-term goals in the years to come to leverage full benefits.
Researches say that AI-based chatbots provide communication that is similar to humans by using natural language processing (NLP) and Machine Learning. AI-powered chatbots are already being used, but this year will see huge upgrades and improvements in its responsiveness and personalization of the customer experience.
This year will see an increase in the availability of real-world simulations. As technology and mechanisms in the digital domain have improved, accurate data has become increasingly available. Simulations have leveled where huge data can be accessed in your system without any change in location. This leads to huge reductions in cost along with an increase in the quality of data that can be gathered.
This pandemic has created a sudden surge in the use of technology and further as reports suggest, AI will be one of the most important technology in 2021. It will also adjacently have a sound impact on automation, robotics, and machine learning. So when are you leveraging the benefits of AI? Consult our team at GoodWorkLabs for AI solutions. We will introduce AI into your business systems! Contact now, here.