These days, Artificial Intelligence (AI) and Machine Learning (ML) are buzzwords. Even people who are unfamiliar with them, however, come into contact with these new technologies daily. According to research, AI integrates into 77 percent of the gadgets we now use. AI is the driving force behind many modern technology conveniences that are now part of our daily lives, from a slew of “smart” devices to Netflix suggestions to products like Amazon’s Alexa and Google Home.
Aside from that, artificial intelligence and machine learning have a plethora of novel applications. Consider IBM’s Chef Watson, who can make a quintillion different combinations out of only four components. Furthermore, AI-powered virtual nurses like “Molly” and “Angel” are already saving lives and lowering expenses, and robots are aiding with anything from minor operations to open-heart surgery.
Many new AI and ML trends are emerging in this sector due to the increased demand and interest in these technologies. It’s fascinating to see what’s next in the realms of AI and machine learning, whether you’re a tech professional or connected with technology in any way. So, let’s have a look at the latest AI and ML developments.
AI and ML Trends
● Using AI & ML
As per Gartner’s 2019 CIO Agenda study, the number of companies using AI increased from 4% to 14% between 2018 and 2019. AI adoption will continue to grow in 2020 because of the advantages AI/ML provides in business analysis, risk assessment, R&D, and cost reductions.
Many businesses that use AI and machine learning, on the other hand, do not adequately comprehend these technologies. Indeed, according to Forbes, 40% of European firms claiming to be “AI startups” do not employ the technology.
While the advantages of artificial intelligence and machine learning are becoming more apparent, companies will need to step up and recruit individuals with the necessary abilities to put these technologies into practice. According to a recent KPMG survey of Global 500 businesses, most of those polled plan to raise their investment in AI-related skills by 50-100 percent over the next three years.
● AI Transparency Trends
Despite its pervasiveness, AI suffers from a lack of trust. Businesses will seek to employ AI systems more confidently as they aim to expand their usage. After all, no one wants to put their confidence in a system they don’t fully comprehend.
As a result, in 2021, there will be a stronger push for AI deployment that is transparent and well-defined. While businesses will try to grasp how AI models and algorithms operate, AI/ML software suppliers will make complex ML solutions more understandable.
The responsibilities of experts who work in the trenches of programming and algorithm development will become increasingly essential as transparency becomes a prominent discussion in the AI sector.
● Importance Of Data Security And Regulations
The future currency is data. In other words, it is the most critical resource that businesses must safeguard. With AI and machine learning put into the mix, the quantity of data they manage and the risks connected with it will only grow. Today’s businesses, for example, backup vast archive volumes of sensitive personal data, which is expected to become a significant privacy concern for 70% of companies by 2020.
GDPR and, more recently, the California Consumer Privacy Act — both of which went into force in 2020 — have made privacy infractions extremely costly. The Information Commissioner’s Office (ICO) fined British Airways and Marriott International approximately $300 million in 2019 for GDPR violations. Companies will need data scientists and analysts to be compliant as the demand to fulfill these standards grows.
● The Intersection Of AI And IoT
The distinctions between AI and IoT are becoming increasingly hazy. While each technology has its own merits, they provide more effective and more unique options when combined. In reality, we have intelligent voice assistants like Alexa and Siri because of the convergence of artificial intelligence and IoT.
So, why do these two technologies complement each other so well? IoT may be compared to the digital nervous system and AI to the decision-making brain. IoT systems have become increasingly sophisticated because of AI’s capacity to extract insights from data quickly. According to Gartner, by 2022, more than 80% of commercial IoT projects will use AI in some form, up from only 10% now.
This development provides another motivation for software developers and embedded engineers to include AI/ML skills in their resumes.
We’re excited to watch how these AI and ML trends play out and what innovations they bring to the table in 2021, which is only a few months away. Even though they have been around for a long time, these technologies are still in their infancy. If you’re an IT professional who wants to keep up with the newest technological developments, now is the time to start learning. Our comprehensive AI Courses will teach you all you need to know about how artificial intelligence can help you succeed in your profession.