As a result of the pandemic, current trends in artificial intelligence in many businesses have increased. The IDC forecasts that by 2023, the amount invested in AI technology will have risen to $97.9 billion. Artificial intelligence’s potential worth has only increased after the global pandemic. Innovators have put into practice AI-related functionality in at least half of organisations, according to a McKinsey report released in November 2020. AI will become more crucial as companies continue to automate day-to-day operations and better analyse pandemic-affected datasets. Since the lockdown and work-from-home policies were implemented, businesses are more technologically linked than ever before.
Current Trends in Artificial Intelligence
Adopting AI with the objective of improving operations efficiency or effectiveness. Additionally, it may be used to enhance stakeholder experiences.
Let’s take a look at the 10 Current Trends in Artificial Intelligence
1. Current Trends in Artificial Intelligence: Increased collaboration between the cloud and AI
Artificial Intelligence, according to Rico Burnett, director of client innovation at legal services provider Exigent, will play a crucial role in the wider adoption of Cloud Solutions in 2021. Artificial intelligence will make it easy to monitor and manage cloud resources as well as the large quantity of data accessible.
2. Current Trends in Artificial Intelligence: AI-based IT solutions
It is anticipated that the number of AI solutions being developed for IT will increase in 2021. A growing number of AI solutions are expected to expand in the coming years, according to Capgemini’s Simion, which is able to identify typical IT problems automatically and self-correct any minor faults or errors. The process will decrease downtime and allow teams to focus on other things while working on complex projects.
3. Current Trends in Artificial Intelligence: AIOps grows in popularity
Over the past few years, IT systems have become increasingly complex. In Forrester’s study, suppliers wanted platform solutions that integrated many monitoring disciplines, such as application, infrastructure, and networking. With AIOps solutions and greater analysis of the quantities of data coming their way, IT operations and other teams may improve their core processes, decision-making, and activities. Forrester urged IT executives to seek for AIOps suppliers who can enable cross-team collaboration through end-to-end digital experiences, data correlation, and toolchain integration.
4. Current Trends in Artificial Intelligence: AI will assist with data organisation
Natural language processing and machine learning will be used to organise more unstructured data in the future. Organisations will make use of these technologies and generate data that can be used by RPA (Robotic Process Automation) technology to automate transactional operations. One of the fastest-growing segments of the software industry is RPA. Moreover, it is only able to handle organised data. A computer program can convert unstructured data into structured data with AI, resulting in a particular output.
5. Current Trends in Artificial Intelligence: AI talent will continue to be scarce
According to current forecasts, artificial intelligence adoption will be problematic in 2021 due to the scarcity of talent. Business leaders have finally realised AI’s promise after years of skills vacuums. This gap needs to be closed by teaching artificial intelligence to a broader range of people. In 2021, it will be critical to ensure that a wider range of users has access to artificial intelligence to focus on technology, learning methodologies, and enabling a shift in the workplace.
6. Current Trends in Artificial Intelligence: AI use on a large scale in the IT business
Over the past few years, artificial intelligence has been used more frequently in the IT industry. Simon, meanwhile, believes that businesses are likely to begin employing AI in manufacturing on a massive scale. Utilising artificial intelligence can help an organisation receive real-time ROI. This implies the organisation will benefit from its efforts.
7. Current Trends in Artificial Intelligence: The focus is on AI ethics
Natalie Cartwright, co-founder, and CEO of Finn AI, an AI banking platform, predicts that organisations will demonstrate expertise in how to use artificial intelligence to address global issues, and foster innovation and economic growth while increasing inclusiveness and diversity. The increasing relevance of AI ethics to businesses has made transparency of data and algorithm fairness among the top challenges.
8. Current Trends in Artificial Intelligence: Augmented processes are becoming more prevalent
Increasingly, Augmented Processes are the norm in artificial intelligence. A data ecosystem provides data on time to multiple sources, is scalable, and lean. However, a foundation must be established to adapt and stimulate innovation. Globant’s Ana Maloberti, an engineer for big data at the company, says companies will gain a step forward in their augmented business and development processes. Using Artificial Intelligence, software development processes can be optimised, and we can look forward to a broader collective intelligence and more effective cooperation. To develop a sustainable delivery model, we need to build a data-driven culture and grow out of the experimental stages.
9. Current Trends in Artificial Intelligence: AI will become easier to understand
As Dave Lucas, senior director of product at Tealium, points out, a greater focus will be placed on explaining a system’s capabilities. AI’s trustworthiness becomes more and more crucial as more data restrictions are implemented. To effectively grasp and describe how each attribute contributes to the machine learning model’s final prediction or result.
10. Current Trends in Artificial Intelligence: Intelligence based on voice and language
It has become increasingly possible to implement NLP/ASR (automated speech recognition) in customer service centres with the rise in remote working. According to ISG’s Butterfield, only around 5% of all client contacts are consistently evaluated for quality feedback. Because one-on-one tutoring isn’t available, businesses may employ artificial intelligence to do frequent quality checks on customer knowledge and intent to assure continuing compliance.
AI’s evolution and future
As AI solutions are becoming more popular, the future of Artificial Intelligence appears to be bright. Autonomous vehicles, robots and sensors for predictive analysis in manufacturing, virtual assistants in healthcare, natural language processing for media reports, virtual educational tutors, AI assistants, and chatbots that can replace humans in customer service — all of these AI-powered solutions are making huge strides forward.