Artificial intelligence technologies are transforming business processes on a very large. What are the top AI trends in 2021 business enterprises should be paying attention to? Success stories tend to focus on the achievements and evolution of the algorithms.
The year 2020 was filled with multiple challenges. Despite the disruptions, the COVID-19 pandemic also served as a great opportunity for organizations to leverage technology. From ensuring the safety of employees while working remotely to improving business functions, the industry survived multiple digital touch points. As organizations continue to pivot and adopt new technologies, 2021 looks like a year filled with opportunities for technology trends.
Many emerging technologies have produced a dramatic effect that seems to far exceed the technology itself; cloud computing, for example, by offering a “rentable data center,” has enabled a generation of startups. But no emerging technology has the potential to so fundamentally alter human life itself as artificial intelligence. Driven by a single revolutionary idea – that software and systems can adapt and learn without human assistance – AI is in the process of influencing everything from banking to healthcare to entertainment to education.
It is very difficult to find out one industry that has not adopted smart machines and models, integrated with Artificial Intelligence across the world. The world has embraced the amazing functionalities of Artificial Intelligence and machine learning algorithms to boost productivity as well as ensure higher customer engagement. People are using these smart machines, even in their homes to adjust to this fast-paced life in the tech-driven era. Indeed, there is an immense scope of Artificial Intelligence in the upcoming years to enhance the standard of living.
Let’s talk about current & future trends of Artificial Intelligence:
AI helps in structuring data
In the future, we will see more unstructured data is structured with natural language processing and machine learning processes. Organisations will leverage these technologies and create data that RPA or robotic process automation technology can use when they want to automate transactional activity in an organisation. RPA is one of the fastest-growing areas in the software industry. The only limitation that it faces is that it can only use structured data. With the help of AI, unstructured data can easily be converted into structured data, which can provide a defined output.
Adoption of AI in IT industry on large scale
We have seen continuous growth in adoption of AI in the IT industry. However, organisations will use AI in production and start using them at a large scale. With the help of artificial intelligence, an organisation can get ROI in real-time. This means that organisations will see their efforts being paid off.
Popularity of Augmented functionality
Artificial intelligence and data science will prove to be a part of a bigger picture when it comes to innovation and automation in 2021. Data ecosystems are scalable, lean, and also provide data on time to heterogeneous sources. However, it is necessary to provide a foundation to adapt and foster innovation. Using Artificial Intelligence, software development processes can be optimised, and we can look for a wider collective intelligence and improved collaboration. We must foster a data-driven culture and grow out of the experimental stages to move into a sustainable delivery model.
Voice Driven intelligence
Particularly in customer care centres, the increase in remote working has driven a great opportunity to adopt NLP or ASR (automated speech recognition) capabilities. Less than 5% of all customer contacts are routinely checked for quality feedback, due to the lack of one-on-one coaching, organisations can use artificial intelligence to complete routine quality checks on customer understanding and intent to ensure continued compliance.
Popularity of AI oriented operations
Over the last few years, the complexity of IT systems has increased. Experts said that vendors would want platform solutions that combine more than one monitoring discipline such as application, infrastructure, and networking. IT operations and other teams can improve their key processes, decision making, and tasks with AI based solutions and improved analysis of the volumes of data coming its way.
Ethical AI
Some reputed organizations such as Google, Microsoft, Apple, Facebook and other tech giants are building ethical AI to follow an ethical framework with four essential principles for effective data governance fairness, accountability, transparency well to explain ability. This is currently the most popular Artificial Intelligence trend in 2021 for providing the inside look into its own system to stakeholders. These companies are initiating multiple programmes and research to encourage other companies to adopt ethical AI with personalised strategies as per the requirements of a business.
Explainable AI
Explainable AI is a part of ethical AI that provides a complete explanation of how the Artificial Intelligence models and machine learning algorithms are working inside to generate the appropriate meaningful business insights and predict the future. Companies leveraging disruptive technologies are required to maintain transparency to stakeholders with a full explanation.
Predictive Analytics
Predictive analytics enables all kinds of businesses to identify the trends of consumers for a better understanding of consumer behaviour in the current scenario. It predicts all potential responses from the target audience by employing personalised data that are collected over a long period of time. The advancement in Artificial Intelligence and machine learning algorithms are providing more accurate predictions and insights to maintain better customer engagement and gain higher ROI from the global market.
Emotional AI
Emotional AI, is one of the most popular Artificial Intelligence trends of 2021 because this technology can sense, learn and interact with multiple human emotions, that enhances human-robot communication to a whole new level. Emotional AI can understand consumer behaviour through verbal as well as non-verbal signals. Hi-tech cameras and Chatbots can easily detect various types of human emotions by studying the reactions to certain contents, products and services. This advancement in Artificial Intelligence has an immense scope in the retail industry in the nearby future.
Combination of AI – AR – VR
The combination of these three disruptive technologies- Artificial Intelligence, Augmented Reality and Virtual Reality has the potential to revolutionise the world with its amazing functionalities. The trio has already started to transform the relationship between customers and companies by providing extra personalisation and customisation of products and services to meet the needs of every customer.
AI in Robotics
Robotics is taking over industries with its useful functionalities in every possible way around the world. There is a common presence of Artificial Intelligence in Robotics solutions that makes robots smarter and intelligent like never before. It is, indeed, a powerful combination to enhance customer service cost-effectively. Robots can perform successful surgeries; protect employees from harmful environments and many more useful activities.
Use of AI in Cyber Security
The data-driven world has created a data explosion in these recent years that is difficult for organisations to protect the sets from malicious hackers. The integration of Artificial Intelligence in cyber security has created more advanced and powerful defence against harmful cyber attacks like phishing, ransom ware, and virus and so on. AI can instantly detect any unusual activity in the existing systems and alert the employees as soon as possible. It is making it more difficult for hackers and frauds to enter any system. Artificial Intelligence enhances cyber security through intelligent code analysis and configuration analysis with activity monitoring.
AI in Computer Vision
The integration of Artificial Intelligence, in Computer Vision, has transformed existing computer systems into smart computers with the following functionalities— analysing human posture and movements, tracking humans and vehicles for collecting data as well as for law enforcement officers, analysing videos with the help of hi-tech CCTVs, facial recognition of the needed person, detecting different levels of diseases as well as identifying objects for autonomous vehicles.
Use of AI in IoT Gadgets
Artificial Intelligence has a tremendous scope in IoT (Internet of Things) with the help of 5G network. The implementation of Artificial Intelligence into IoT can help smart devices such as wearable devices, virtual assistance, refrigerators, etc. to analyse data and make smart decisions efficiently based on the collected data without any human intervention. It is used to optimise a system and enhance performance to meet the needs and wants of the target audience.
As business organizations becoming more dependent on AI oriented systems, more businesses will be using artificial intelligence in the upsoming future. Considering these trends, it can be clearly said that AI is becoming a more popular functionality for all businesses.
