Artificial Intelligence has created a lot of buzz in recent times. Without any doubt, it is one of the most popular technologies that millennials know about. This technology and its innovation have come a long way in the past few years.
Today, the amount of data generated by humans and machines takes away humans’ ability to interpret and make complex decisions based on that data. Artificial intelligence forms the basis of all computer learning and is the future of all complex decision making.
AI will enable people to use their time efficiently, which increases their productivity manifold. Nowadays, businesses are utilizing AI for competitive advantage as well as cost and time savings.
Artificial intelligence is already disrupting the business process in almost every industry. As artificial intelligence technology is proliferating, they are becoming an imperative for businesses that want to maintain a competitive edge.
And to your surprise, a recent developer stats forecasted that 80% of emerging technologies will have an AI foundation by 2021. Now, many top companies such as Google, Facebook, Microsoft, Amazon, etc. are working on all the possible AI applications in many fields.
With the increase in demand and interest in AI, many new trends are rising during this space. If you are curious to know what lies ahead in the field of Artificial Intelligence. Then, here is the right blog for you.
Through this piece of article, I will discuss the latest AI trends that will be prevailing in 2021. I hope it will help you in surging ahead with their AI Development. So, without wasting any more time, let’s start!
Best Five AI Trends That You Can’t Lose Your Sight Off
From tech startups to global giants, organizations continually seek to incorporate trending technologies to expand their business. Artificial intelligence (AI) is an advanced technology that has the potential to offer a variety of cutting-edge solutions to businesses.
Moving on to a new year in a few months, here are the top 5 Artificial Intelligence (AI) trends to watch in 2021. Let’s dive in!
#1 AI-enabled Chips Will Rule the World
Despite the latest artificial intelligence trend, AI-enabled chips are expected to reach revenues of $ 91,185 million in 2025, compared to $ 6,638 million in 2018.
AI-enabled chips will help create tasks requiring AI, such as facial recognition, natural language processing, object detection, computer vision, and move much faster than ever before.
Top companies such as NVIDIA, Qualcomm, and AMD are making AI-enabled chips that will enhance AI applications’ performance.
In fact, Qualcomm has launched its new AI-enabled Snapdragon processor this year that can perform 15 trillion operations per second with efficiency.
It will enhance all the AI-based services of the phone such as AI translation, photography, virtual assistants, etc using very little power.
Benefits of using AI chips in smartphones
Smartphones have benefited from AI for some time recently. However, processing has been done through an offloaded cloud platform or main GPU or CPU chipset.
The new generation of chips has an obvious advantage, as it enables onboard processing. It will reduce the reaction time and make processing more effective. In the process, this will promote lower power consumption, significantly increasing battery life.
#2 Making Way for IPA (Intelligent Process Automation)
According to Forrester, 25% of Fortune 500 companies want to implement and invest in IPAs. The technology is much like RPA, but it adds Artificial Intelligence. The OCR technique is an example of AI working with traditional RPA to lead unstructured data stored in scanned documents.
IPA allows businesses to use the information within their systems to create visual models of their processes, analyze them in real-time to identify outliers and bottlenecks, and predict future outcomes to facilitate technology investments.
AI implementations include specific automated robotic functions. Companies use machine learning and text analysis to process documents. Due to the implementation of automated responses and chatbots, the programs are designed to persuade customers under a human’s guise.
Conversational agent programs help save time, especially for technology and human resources teams. The previously created algorithms allow the computer to sort the data.
The more algorithms sort the data, the more AI will be able to identify data that is considered normal and able to find data that testify to abnormal behavior.
#3 The Emergence of a Hybrid workforce
Post Covid-19 pandemic has been curbed, and organizations will jump into the RPA bandwagon, which means implementing faster cognitive AI and RPA to handle high-volume, repetitive tasks.
Demand for AI talent has doubled in the last two years. Technology and financial services companies are currently absorbing 60% of AI talent.
As more and more use cases emerge, the modern workplace will transform into a hybrid workforce environment. The human workforce will collaborate with automated bots, a start already made with Alexa, Siri, and other digital assistants.
Business leaders need to be open with employees by giving clarity on how AI’s power will be harnessed and what its lasting impact will be on current human workers and their daily work lives.
In the coming time, people will be working alongside AI-powered devices, digital workers, and bots. On the other hand, the generality of AI technology in the workspace will also be why more significant human interaction with AI is seen.
With improved technology capacity, increased regulation permits, and social acceptance, more AI will be deployed in uncontrolled public spaces. In 2021 and beyond, this trend would mean more collaborative interaction with AI, perhaps without even knowing it.
#4 AI Helps To Monitor Business Processes
Hyper automation and intelligent, cognitive automation projects help integrate AI-enabled tools to re-organize and redefine how business processes perform in real-time. Enabling cognitive automation will require new tools built for the task.
AI-enabled process and content intelligence technology will give digital workers the skills to tackle natural language, logic, judgment, context-setting, and data-driven insights.
Time series analysis has been famous for the last few years and is still a hot trend for the current year. With this technique, analysts gather and monitor a set of data over a period of time that is then analyzed and used to make smart business decisions.
AI tools and platforms are already guiding businesses to understand the way their customers are adopting a new reality. In 2021 and beyond, we can expect organizations to incorporate recurrent neural networks for high-fidelity forecasting.
#5 AI for Cybersecurity and Data Breaches
As hacking, phishing, and social engineering attacks become ever more sophisticated, AI and advanced prediction algorithms will play a key role in cyber security.
AI can improve the analysis, understanding and prevention of cybercrime and also enhance the cyber security measures of companies so that they remain safe and secure.
This technique can be used to find digital activity or transactions that follow a faul pattern and raise alarms before defences can be breached and sensitive data compromised.
According to a study by the Capgemini Research Institute, AI is essential for cybersecurity, as hackers are already using it for cyber attack. About 75% of the officers polled also believe that AI allows rapid response to security breaches.
Therefore, companies can start with AI cyber security by implementing AI in their existing security protocols. It can be done by using predictive analytics to detect threats and malicious activity, use natural language processing for security, and enhance biometric-based login techniques.
The scope of AI is diverse and varies depending on business needs. Using these trends appropriately, firms can obtain real-time information, perform predictive maintenance, take advantage of accurate forecasting, and more.
To get the most from AI incorporation, organizations must focus on the latest trends and research to develop and implement the next best solution for their business.
Therefore, to incorporate the latest AI trends into your organization, you should consult a good software development company in India. They will surely help your organization become a trendsetter in enabling successful and sustainable digitization powered by AI.