Best AI Future in business 2021

Best AI Future in business 2021

 

  1. What is the future of AI?

Artificial intelligence is virtually impacting the future of every industry and human being. In the recent years, it has emerged as the main driver of technologies such as robotics and IoT, big data, and so many others. It will continue to act in this way in the near future.

Future activities also believe that the research areas will be hybrid systems that combine the advantages of systems. They are capable of reasoning based on memory and knowledge with those that require AI based on the analysis of massive amounts of data I.e. deep learning.

  1. What is IBM doing to support the future of Artificial Intelligence?

IBM is using AI to scale deep learning as it sees the massive explosion of unstructured data as the catalyst behind ML. It takes place as a subset of data and then they use it to extract value from the rest of the data.

  1. Will AI take over humanity?

No, AI will not and cannot take over humanity. This is because while narrow AI is capable of outperforming humans in many tasks, thereislittle evidence thatgeneral AI can emulate humans’ ability to respond in different situations.

  1. Can AI be trusted?

AI learns with the help of machine learning algorithms. Therefore, what you feed is what you earn. Like a human being, a machine can be both good and bad based in the algorithms it feeds on.

AI Future in business 2021

 

Introduction:

In the past few years, we have seen artificial intelligence and machine learning take the center stage for many industries. With its increasing role, companies jumping on the opportunities to harness its benefits with a wide range of use cases.

AI’s rapid advances and ethical implications are severely impacting humans which have given rise to conversation such as domination on humans in the years to come and how will the development of AI in future?

People working in the tech world know the possibilities of growth and development are endless and there are no answers to the ever-rising questions.

For instance, it is estimated that by 2025, AI will reach over $190.6 billion in value and will remain as the core of future technologies. To stay ahead in the game, tech giants like Microsoft, IBM, and Dell are already deploying AI in the future IT industry.

Ai future grow in business
Ai future grow in business

 

So, in this blog series, we have covered some crucial business insights from industry experts as they share their thoughts and AI future predictions.

Expert 1:

KartikHosanagar, a professor of marketing at the Wharton School of the University of Pennsylvania and the John C. Hower Professor of Technology and Digital Business. He is also a co-founder of four different ventures.

 

Prediction:

Prediction:Kartik says that the changes he sees happening with AI in the business landscape in light of the pandemic if the immediate pressures for both practical and financial. It might make it difficult for companies to think more strategically about using AI.

But they will now start thinking more about how to properly use AI to help employees, especially those who are working from home be more productive. This will involve automating scheduling and I.T. support. Also, companies will also look for ways to save money by utilizing AI.

According to him, in future, AI will be used for efficiency and cost-cutting. He specially predicts that in future factory automation and robotics will accelerate rapidly.

However, the most successful companies will be those that are able to take a big step back and think about how they can use AI for something strategic.

Expert 2:

BjörnBrinne, Chief AI Officer at Peltarion

Prediction:

  • Artificial intelligence voice technologies will infiltrate the office in the future.
  • BjörnBrinne says that voice assistants have already established themselves in our personal lives. But in the future, we will be seeing a rapid change in the role of AI in the future with the increase in the number of businesses that are turning to them for improved customer experience and personalization.
  • This is attributed to the rapid advances in AI-driven technology such as natural language processing which are enabling voice interactions to be translated into data.
  • This data can then be structured into a conversation that can be analyzed for crucial business insights. By next year, it is highly likely that organizations will begin to embrace conversational analytics to improve their voice and chatbots in the future applications of AI. Ultimately, result in data-driven decisions and better business performance. Always use Data visualization tools to present the data in easy to understand format and in customizable graphs.

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Expert 3:

Philipp H. F. Wallner, Industry Manager at MathWorks.

Prediction:AI for Flexible Production

  • There are many problems that slowdowns the production process for instance long changeover-times or other inefficiencies. For the past several years, the automation industry has discussed a vision of sample size one with the changing role of AI in the future.
  • In this vision, they see how production lines can produce one-of-a-kind goods without encountering such issues. To meet the requirement of full individualization in production this vision must come true.
  • Meaning that machines cannot be set up on the shop floor in a fixed and inflexible manner i.e. parameterized, commissioned, and tuned for one specific product.
  • Today, industrialist demands these production lines to be flexible. Hence, they need to be built from multiple mechatronic modules that can easily be rearranged.

Expert 4:

JasmitSagoo, Senior Director and Head of Technology UK&I at Veritas Technologies

Prediction:

  • Ethics of AI in the business world
  • In 2020, we have seen research and investment growth in the field of AI ethics and bias significantly. This is because even today, business insights are generated by AI and machine learning algorithms in companies.
  • Bias usually creeps in from training algorithms as these algorithms are built using models and databases. This ultimately results in racial or gender bias, which might affect people in cases like mortgage applications or forecasting health problems.
  • But now, business leaders will demand to know how AI reaches the recommendations with increased awareness of bias in data. They can take steps to avoid making biased decisions as a business in the future.

Expert 5:

Marcus Vass, Partner Osborne Clarke

Prediction:Future applications of AI to emerge in businesses

  • Marcus Vass says that artificial intelligence isn’t just something debated. Today, it’s increasingly taking a center stage in our collective cultural consciousness.
  • “I’m excited by the possibilities we’ll see AI open up in the next couple of years and the societal challenges it will inevitably help us to overcome. And it’s happening already.”
  • As we know, applications for AI are driving operational efficiencies while it might not sound as interesting, but it’s where technology is having the biggest impact.
  • For instance, using the future of AI software to synchronize traffic lights will impact the traffic flow while also reducing the number of time cars spend idling. This means that it will make inner city travel less of a headache for drivers which will have a tangible impact on emissions.
  • That is just one example. In the next few years, we will see AI in a new light; we will see creative ways of it solving the biggest problems we are facing right now.

 

Conclusion:

In this blog post, we have to share 5 AI future predictions by industrial experts on the business landscape. I hope you enjoyed it and hope to hear more from you in the comments below.

 

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