Artificial Intelligence (AI) Trends for 2020
Digital disruption and transformation is inevitable in every company, irrespective of the industry type, these companies deal with ongoing changes especially the ones that happen at their core level.
In the last decade, technology and innovation was the forefront in driving some major changes in how the industries tend to operate and function. Artificial Intelligence (AI) is one major differentiating factor and certainly the most talked about technology.
The hype of AI is real but still in 2019, a lot of ambiguities surrounds related to its usability. News on how AI is going to transform many of the industries, and how it can cause disruption in some important sectors of education, health care, finance, manufacturing, automobile is everywhere.
Google in particular is emphasizing on being an Artificial Intelligence/Machine Learning company by doubling down on research publications and investing in development of more AI research centers around the world.
Latest Artificial Intelligence Trends for 2020
Let’s delve a little deeper to find out what to expect from AI and the AI trends for 2020, as the global AI market is estimated to rise to almost $60 billion, by 2025.
Businesses want to gain an increased understanding of the basics of AI while some are still questioning its effectiveness in various fields. Will AI bring the desired changes in the concerned industry, and what new to expect in 2020? How effective AI will be in different industries in 2020?
To ponder more on these questions, let’s have a look on some AI trends and the presumed effect that AI will cause in different industries in 2020.
Technologies Where AI Has Shown Its Appearance
The latest developments in AI is speech recognition, virtual agents, deep learning, machine learning, natural language generation.
l Augmented Reality, Internet of Things and Blockchain
AI with its deep neural networks can infer real-time 3D positions of things. AI is useful in providing amazing AR experiences.
With the increasing use of IOT there’s an issue to manage huge data flow and issues of data storage, delay, channel limitation and network congestion are always there. These problems can be sorted by the use of AI.
When Blockchain, and AI are combined, both technologies can give benefits like improved transactions, decentralized intelligence, greater transparency, lower market entry barriers and with further advancement in these technologies you can expect more remarkable tech at your disposal.
Health care is one sector that can be most benefited by using AI technology
AI is emerging as a differentiating factor in health care industry and with that Google has positioned themselves well by investing much more among the Five big tech giants (Amazon, Microsoft, Facebook, Google, Apple). AI is useful in health care for data generation, disease detection, lifestyle and disease management.
l Medical Imaging and diagnostics
AI can successfully and more accurately detect cancer in early stages. Imaging and diagnostics of diseases will be better aided by the AI technology. On an average, the CNN machine is able to accurately detect skin cancer in 95% cases, whereas in comparison to that the human dermatologists were able to detect accurately in 86% cases only.
l Drug discovery and clinical trials
The process of clinical trials will be aided by AI and the process of drug discovery can be made less tedious. AI has the ability to redraw the health landscape. AI is already here and is fundamentally changing medicine. These are the words of David B. Agus, M.D. and a professor of Medicine and Engineering at the University of Southern California Keck School of Medicine and Viterbi School of Engineering.
AI can assist doctors in accessing vast data sets of potentially life-saving information. This will increase chances of easy and accurate disease diagnosis and understanding innumerable interconnected health conditions.
AI promises a lot in medical research and health care. The scope of this advanced technology is great and we can expect to see further advancement in 2020.
E-commerce And AI
Use of AI in e-commerce will further unlock the opportunities for the retailers. Chat bots, image search, customer data handling, inventory management, better decision-making, CRM, after sales service, sales improvement, face recognition, logistics for warehouse, search technology, free checkout, these are the areas that can be improved by the use of AI in the field of e-commerce.
E-commerce has already improved selling and buying with great easy from the comfort of home. AI is only going to enhance the ease and comfort that comes with online shopping.
AI In Transport
Development of self-driving cars with the use of AI is happening. AI can significantly be used in the prediction and detection of traffic conditions and accidents. AI can be successfully used to collect traffic data and regulating the traffic flow by properly scheduling the public transport. We can have streamlined traffic patterns with the use of AI.
Self-driving cars will be the most advanced use of AI in transport. It is supposed to allow more diverse transportation and reduction in emissions. Machine learning can easily predict traffic jams, improve public safety, safety of citizens travelling in urban areas can also be ensured by tracking real-time data.
AI In Manufacturing
Manufacturing is one industry where the impact of AI is maximum. Andrew Ng, an Adjunct professor of computer science at Stanford University and creator of deep-learning Google Brain Project says, while AI will radically change many industries, it’s well suited to manufacturing. He further explains that “AI will perform manufacturing, shorten design time, quality control, improve production reuse, reduce waste material, can do predictive maintenance and many more.”
l Predictive maintenance and computer vision for defect detection
AI can help to better predict manufacturing machine failures. In the similar manner, computer vision will help in surveillance and manufacturing industries will be able to supervise their production. Computer vision can precisely detect product defects.
Humans and Robots collaboration might become a reality in 2020. The AI-powered robots are expected to take over manufacturing tasks alongside with humans. While humans will take the high-position roles related to design, programming and maintenance, robots can help in manufacturing tasks.
Gaming And AI
AI can provide improved VR experience. But there’s a lot of hesitations in using AI in developing video games as it can result in unbeatable entity for players to struggle against and video game developers don’t want this. Use of advanced AI can result in losing control of the overall player experience but to some extent it can be used to maximize player participation.
Though visual quality of the games can be improved with the use of AI. Deep learning and huge data can be used to improve how players move and express. Voice assistants can give real-world experience and the game can be personalized for each player.
AI Can Help Business’ To Improve Customer Experience, Hiring Process And Business Model Transformation
l Better customer experience
For any business process it is extremely important to serve their customers and AI is used to achieve this. Though the chat bots, virtual assistant, self-help VR systems, customer support and language processing are some fields where enhancement and better use of AI can be expected.
l Advanced hiring process
AI can assist recruiters in identifying ideal and suitable candidates for hiring all while not making the process too mechanical with incorporating human traits like empathy, etc.
l Business model transformation
Complete and vital transformation of businesses can be done by using AI. A lot can be expected to happen in this area with data analysis, computer vision and performance prediction.
AI Has Good Usability In Finance Sector
l Credit Risk Assessment and fraud detection
Machine learning and AI can replace human analyst in identifying the customer’s ability to pay their credits by evaluating all the customer data available. In this way credit risk assessment can be done with more accuracy. This will be helpful in finance industry in determining the potential risks and deliver solutions.
AI will be able to detect fraudulent activities in credit card transactions which are otherwise hard to detect.
l Safe trading with predictions
AI enabled data analysis will prove to be vital in safe trading of the stocks and shares.
l Auto claims processing
To tackle the fraud prevalent in insurance claims AI use can prove to be beneficial. AI can be more used in detecting and sensing customer’s behaviour specifically in the insurance claims related to vehicle accidents. Here AI can re-imagine the accident and predict if the claim is fraud.
Social Media and AI
l Empowering marketers
AI plays an important role in helping marketers develop their campaign strategy based on your client base and do the effective audience targeting.
l Improving content designing
With the help of AI it will be easier to predict the in-demand content and content optimization will be easily attained.
l AI powered chips
AI technology integrated chips are already manufactured to keep up with the growing demand of AI. These chips can be used after enabling AI tools in them.
The plans and aspirations are big when it comes to AI and its successful implementation in various industries. Success of the outcomes is entirely dependant on the process and learning involved but it can be assumed that AI will continue to deeply ingrain in the processes of various industries.
Just like electricity transformed every business, the advancement of deep learning and AI has the potential to transform every industry.