Artificial Intelligence and Machine Learning: 5 Trends to Watch Out for in 2021
In 2021, these trends will play a major role in transforming our lives by bringing more innovations to the table and opening a new door of opportunities.
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Artificial intelligence and machine learning are the buzzing technologies of the market. Their significance peaked in 2020, and we are excepting much more of them in the upcoming year. Both have already found their space in everything; from e-commerce to advanced quantum computing systems, to medical diagnostic systems to consumer electronics and especially the popular smart assistants.
The revenue generated with AI is around $156.5 worldwide, according to market researcher IDC, up 12.3 % from the last year 2019.
Besides, there are huge innovative uses for AI and ML. Think of IBM's Chef Watson, which can create unlimited possible combinations from just four components. Also, AI-powered virtual nurses, such as Angel and Molly are already in use and saving both lives and costs. Some robots are assisting in the medical space, from a few invasive systems to open-heart surgery.
After knowing these breakthrough figures, many of us are also thinking of the upcoming AI and ML trends for 2021. Here, I have summarized the top 5 AI and ML trends shared by the experts.
1. The Growing Role of AI and ML on Hyperautomation
Hyperautomation is an emerging technological trend identified by Gartner. However, it’s popular with other names as Forrester calls it “Digital Process Automation” and “Intelligent Process Automation” by IDC. It combines the right technologies for automating, simplifying, discovering, designing, measuring, and managing workflows and processing across the organization.
The coronavirus pandemic has accelerated the adoption of this advanced concept where AI and ML are key components and its major drivers. Though it also includes other technologies like robotic automation tools, successful initiatives can’t rely on static packaged software. The automated business processes should adapt to changing circumstances and respond proactively to unexpected situations.
That’s where the role of AI, ML models, and deep learning comes into play. By adopting these algorithms and models, along with the automated system’s data for allowing it to make improvements from time to time and respond to the changing process and requirements of the business.
2. Overlap Between AI and IoT
The gaps between artificial intelligence and the Internet of Things are blurring increasingly. Both technologies have their independent qualities, and when brought together, the door is open for new opportunities. If you know that, their confluence is the reason we are using smart voice assistants like Alexa and Siri.
According to Gartner, 80% of enterprise IoT projects will include AI in some form by the year 2022.
So, how these two advanced technologies are working so well together? You can call IoT the digital nervous system and AI its brain that makes informed decisions. AI can gather insights quickly from data that makes IoT systems smarter.
3. More Use Of AI for Cybersecurity Applications
Machine learning and artificial intelligence already hold a strong place in cybersecurity systems for both home security and corporate systems. Cybersecurity developers are constantly working on updating their technologies to keep up with the continuously evolving threats DDS attacks, malware, ransomware, and more. The buzzing two technologies can help in identifying these threats, including the earlier variants of threats.
AI-powered cybersecurity tools can also gather data from the company’s communication networks, transactional systems, digital activity, and websites, plus external public sources, and use AI algorithms for recognizing patterns and identifying the threatening activity — such as finding out suspicious IP addresses and possible data breaches.
According to research firm IHS Markit, the use of AI in home security systems today is mainly limited to systems integrated with user's video cameras and intruder alarm systems integrated with a voice assistant. But IHS believes that the use of AI will expand to develop smart homes where the system knows the habits and choices of occupants – advancing its ability to identify intruders.
4. The Rise of Augmented Intelligence
This is especially for those who are worried that AI will cannibalize human jobs.
The rise of augmented intelligence should be a delightful trend for them. It brings the best capabilities of both technology and humans together by enabling the organizations to improve their workforce’s efficiency and performance.
By 2023, Gartner predicts that around 40% of infrastructure and operations teams in large enterprises will adopt AI-augmented automation for increased productivity.
5. Conversational AI
The technology on which the automated messaging and speech-based apple work is called conversational AI. AI Developers are deploying this technology in applications and websites today to allow them to like humans. It’s done by acknowledging the speech and text, understanding customer’s intent, deciphering the various languages, and responding like humans.
Amazon Echo and Google Homes are the best examples of conversational AI today.
However, there are still many areas of improvement on which developers are working. Speech recognition and automated text recognition are the two challenges that need excellent command over NLP (natural language processing). Developers can overcome these challenges in various ways; one would be the classification/segmentation of different words.
Today, companies are using conversational AI chatbots to schedule meetings, carry out airline transactions, and cross-sell products thus providing a better customer experience
Wrapping up the AI and ML Trends of 2021
The scope of artificial intelligence and machine learning is beyond our thinking but our experts tried their best to share its few glimpses for giving us an idea of what we can expect in 2021. Though its role varies on your business needs.
In 2021, these trends will play a major role in transforming our lives. They will bring more innovations to the table and open the new door of opportunities.
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