As we are approaching the year’s end, people are talking about various trends that organizations and businesses are likely to adopt. And how can we not mention AI or artificial intelligence? Technology is shifting, and we have already seen giants talking about AI like Meta, Twitter, and Amazon. Meta has announced the launch of its meta world soon, and many are wondering if the name shift was one of the reasons.
“The U.S. is knee-deep in a recession, but despite the economic uncertainties that consumers and companies are facing, I predict AI will remain not only resilient but recession-proof,”Scott Stephenson, CEO at Deepgram
Many people are talking about how AI will take away jobs by completely automating functions. But, on the contrary, the leaders suggest that it will automate mundane tasks, maintaining the tasks and jobs at the place more efficiently.
“AI won’t—and shouldn’t—replace humans in the near term,”Vishal Sikka, founder, and CEO of a human-centered AI platform
AI today is powerful, but it is nowhere near human intelligence, and there is no question of replacing it with human jobs. It is used to make human tasks easier and faster.
More human-centric functions!
With the current trends in AI, we can expect it to be more human-centric and ease the daily tasks that are needed to be carried out. There is an expected advancement in language reading as well, which will help simplify daily tasks.
Many language programs will also become cheaper in the coming year. Organizations are working on how these technologies will interact with humans, how they will understand their requirements, and how they will react accordingly. Moreover, it can help organizations understand their customers better and know their behavior to sell the product/service better.
AI will work more on quality data
AI works on quality data. The better the data, the better the results. Now, collecting data is not enough, companies need to acquire data strategically that will help them take better decisions.
Generative Artificial Intelligence will be at roar!
Generative AI uses unsupervised algorithms to create images, texts, videos, or codes. It will be a game changer in 2023, and Gartner has already predicted how it will help businesses evolve. These are the following predictions that Gartner has made:
- By 2025, 10% of the data will be produced with the help of generative AI.
- By 2025, 50% of drug discovery and development initiatives will be held by generative AI.
- 30% of the manufacturers will be using Generative AI to improve their product productivity by 2027.
Investing in AI!
The AI industry will reach a trillion dollars by 2029, and there is no reason why you should not invest in AI. The market will grow 50% faster than other software on the market.
If you are planning to adopt AI for your business, it is the right time to invest.
What are current trends in Artificial Intelligence?
1. Language modeling
Natural Language Processing is a part of the software used to create, analyze and interpret human language. You can write business letters, codes on the computer, and creative writing like fiction. The tools just require some input to produce the type of content you require for your organization.
2. Meta verse and AI
Meta verse refers to a virtual world wherein people interact with each other. People will be able to produce and consume content in this virtual world. Meta is aiming to create a metaverse where people can interact with each other and content sharing will be more engaging.
3. Cybersecurity and AI
As AI will be more in use, there are higher chances of cyber-attacks. Therefore, organizations should prepare themselves for such situations. The greater the number of devices attached to the internet, the more vulnerable you become to cyberattacks. Along with the easier and less time-consuming methods of AI, it is also important that you protect yourself from cyber-attacks.
4. Low or no code
Now you can make codes within no time with the help of AI. The lack of coders will not be a problem going forward. This will save time and effort for many organizations. It may not work for complicated codes, but it will help when you have an urgent need to complete any task.
5. Creative AI
AI is capable of creating dramas, videos, and games too! Now we can see AI used for producing headlines for newspapers and articles, and it is the beginning of creative AI. Now, artificial intelligence will also have the capability to think creatively, and it will bring a massive change to the current market scenario. This will save time and money for the new businesses and encourage people to start businesses easily.
What should I do?
“98 percent of survey respondents agree that in 2023 and beyond, AI-powered autonomous, collaborative software and mobile robots will automate processes and tasks, including data analysis, allowing humans to be more efficient and effective,”IEEE news release on the survey.
This indicates how important AI will be in fulfilling the increasing business requirements. You can still see the use of Artificial Intelligence here and there, for instance, in the pop-ups you have or chatbots; these are examples of AI that are triggered by your actions. Though not for complicated tasks, AI is still getting used right now, and it has a vast capability to grow shortly.
Learning management systems are also adopting and utilizing AI to make their services more agile. You can embed various AI-based third-party tools to enhance the user’s experience.
So, if you are planning to revamp your marketing strategy or implement new ones, AI will be the right choice, and 2023 will be the right year to implement it! It does not depend on which industry you are in; you can deploy AI for various purposes to help your business grow.