Introduction
Artificial Intelligence is one of the hottest buzzwords in business and industry. Artificial intelligence refers to a simulation of human intelligence in machines. These machines address the human brain by utilizing methods of comprehension, investigating, and learning from the data provided by the use of specially designed algorithms.AI is the idea of building machines which are capable of thinking like humans. Artificial intelligence helps the human industry reduce labor costs by automating tedious tasks that are sometimes too labor-intensive to manage by humans. Here are some examples of AI from real life: Siri – Apple’s Personal Assistant, Alexa – A Revolutionary Product, Tesla – The Smart Vehicle.
Although Covid-19 impacted ways of conducting business, it did not diminish the impact of Artificial Intelligence (AI) in our daily lives. Indeed, it has become clear that intelligent machines and self-teaching algorithms hold a central position in the fight against the pandemic as well as other pandemics that we anticipate facing in the future. AI remains a critical technological trend that will affect how we live, work, and play in the future. The impact of AI will be more significant than electricity or fire on the development of the human species. Although this might appear like an ambitious claim, the potential is clearly there since the technologies have already been applied to develop cancer treatments, tackle climate change, and explore space. In brief, AI and machine learning continually impact the manufacturing, retail, healthcare, digital marketing, real estate and accountancy sectors. This has generated trends in data that helps to orient data leaders in the changing landscape. The rapid growth and acceptance of current and new technologies will be unparalleled in the coming decade. Some of the Key trends in AI are:
Robotics Process Automation (RPA)
More Corporate Executives In-Charge of Information Technology (CIOs) are continually adopting RPA to minimize costs and streamline their business processes. RPA helps companies automate rule-based tedious business processes, enabling workers to pay attention on serving clients or performing valuable work. The technology is governed by organized inputs and logic. RPA solutions can range from easy tasks to more complex tasks such as deploying thousands of bots to automate rule-based tasks.
Conversational AI
Conversational AI (AI-powered Chatbots) transforms into improved automation of customer service. They enhance responsiveness, personalization, and Customer experience’s reach. The AI-basedChatbot utilizes machine learning and natural language processing (NLP) to generate a near-human-level and more natural interaction. As a result, it helps to better understand the needs of humans.
Ethical AI
Ethical AI is critical among the list of emerging technologies in 2021. But how do we define AI ethics and morals when it comes to robots and machines? AI ethics helps determine right and wrong, and it is basically a decision path for determining the behavior of AI. Ethical AI responds to digital change and proactively handles business continuity and uncertainties. Failure to operationalize AI ethics can be a threat to the future of business. The absence of ethical AI can elevatelegal and regulatory risks, resulting in product development inefficiency, wastage of resources, and inability to use data for training AI models.
The Fusion of AI and IoT (AIoT)
The intersection of AI and IoT allows organizations to make intelligent decisions, accurate predictions, identify cost savings, customer delight, and increase operational efficiency. Even though both technologies have unique characteristics, they generate new and better opportunities when fused. The confluence of IoT and AI is the birth of intelligent voice assistants, such as Siri and Alexa.
Quantum AI
Prominent organizations will begin using quantum supremacy to measure Qubits for use in supercomputers. Quantum computers use quantum bits to solve problems quickly than classic computers. In addition, quantum AI helps in data interpretation and forecasting several unique trends. Quantum AI will assist different organizations in identifying inaccessible issues and also establish meaningful decisions. Future computers will solve computational problems in different areas such as finance, cloud security, supply chain, drug discovery, and logistic.
AI in Cybersecurity
Organizations are betting on AI to identify threats. In the next decade, knowledge will be highly accessible, and digital data will be at increased risk of being compromised and exposed to phishing and hacking attacks. The cutting-edge technology will provide the security department with support against malicious activities. The AI-enabled framework will help detect fake digital activities to match criminal trends.
The Augmented Workforce
There has been increasing belief that robots or machines will replace the human workforce and even render certain roles irrelevant. Nonetheless, as businesses navigate the creation of data processes and AI-based cultures within employees, people will begin to work collaboratively with systems and tools that utilize cognitive and smart functionality to enhance their skills and abilities. Certain smart tools have already been applied indifferent fields, such as marketing to establish profitable leads and the value to anticipate from customers. In the field of engineering, AI tools are critical in establishing predictive maintenance, where we can predict when machines will require repair or servicing.
In information sectors, including law, these tools are helpful in finding patterns and information in enormous amounts of data to accomplish a particular task. Smart tools and services are emerging in nearly every field to help us perform our tasks effectively, and in the coming years, machines will become part our daily activities.
AI and the Metaverse
The metaverse is a collaborative virtual environment where users can play and work collaboratively. Just like the internet, the metaverse is a digital environment that emphasizes providing immersive experiences, usually generated by users. The idea became a reality after Mark Zuckerberg integrated virtual reality with social foundations on the Facebook platform. Without a doubt, AI will be the metaverse lynchpin. It helps create online environment where humans will feel comfortable by nurturing their creative impulses. In addition, individuals will share their virtual environments with AI beings that will help them perform their tasks or even collaborate for a game, such as chess or tennis, when they want to unwind and relax.
Autonomous Vehicles
Over the coming decades, AI will guide autonomous automobiles, such as aircraft, cars and aircraft set to revolutionize society and travel. This will help eliminate human errors that cause accidents every year. Out of 1.3 million annual traffic fatalities, 90% of the accidents are a result of human errors. Besides the increasing effectiveness of electric cars, Tesla claims that by 2022, the automobile will fully demonstrate self-driving capability. However, it is not certain that they will be ready for general use. Hopefully, 2022 might witness the first autonomous ships across the Atlantic Ocean, such as the Mayflower Autonomous Ship (MAS).
Creative AI
AI can be used in creating making video games, art, plays, poetry and music. New models, including Google’s Brain and GPT-4, will redefine boundaries of what is possible. Thus, more is expected from a seemingly natural and elaborate output from our significantly capable and imaginative electronic friends. Creative tasks, including designing logos, writing headlines for newsletters and articles, and infographics, will be witnessed in 2022. Creativity is usually a critical aspect of human skill; thus, the emerging capabilities in machines show that AI is undeniably coming close to humans in regard to the function and scope ofreal intelligence.
Low-code and no-code AI
The scarcity of AI engineers capable of creating necessary tools and algorithms is the main obstacle to the adoption of AI-driven efficiency. Low-code and no-code solutions help overcome the issue by providing simple interfaces for constructing complex AI systems. Similar to no-code and web design UI tools, no-code artificial intelligence enable people to build intelligent programs by integrating several pre-made modules and training them with their own domain-specific data. Technologies, including language modelling and natural language, imply that it will be possible to use written or voice instructions more. These tools play a crucial part in the increasing democratization of data technology and AI.
Intelligence and Hyper-Automated Business Processes
AI follows basic routines and tasks according to smart programming and algorithms, which make it possible to incorporate them in the ways organizations automate their business processes. The common tools used in AI and automation are MLops and AIOps; however, the depth and breadth of what can be automated by AI in enterprises is on an increasing trend. AI is believed to be advancing to a particular level of hyper-automation, which is partially in response to the unprecedented manual procedures and data caused by the outbreak. Industries such as the automotive and finance industries are adopting hyper-automation that integrates robotic process automation with machine learning to make them address surges or unplanned incidences in the future. These technologies will be applied to automate knowledge, but the complexity emerges because there is a higher degree of variability in knowledge work. For instance, organizations will receive feedback on their services or products in different ways and languages. Thus, AI will be expected to ingest, understand and modify processes in real-times prior to automating the knowledge work.
Conclusion
More businesses will be using artificial intelligence in the foreseeable future as organizations are becoming more dependent on AI systems. Looking at the trends, it can be deduced that AI is becoming a critical aspect of all businesses. AI has the potential to be the biggest technology inthe world, and businesses are already utilizing it across various sectors or cases, from personalizing customer service to streamlining sophisticated supply chains. AI changes extremely faster; therefore, organizations need to stay updated in order to keep with the current trends and stay informed. In summary, looking ahead and beyond 2022, the world will be smarter, more fact-driven and powered by data analytics.
References
Marr, B. (2021). The 7 Biggest Artificial Intelligence (AI) Trends In 2022.https://www.forbes.com/sites/bernardmarr/2021/09/24/the-7-biggest-artificial-intelligence-ai-trends-in-2022/?sh=7e46612f2015
Hiter, S. (2021). Key Artificial Intelligence (AI) Trends 2022. https://www.datamation.com/artificial-intelligence/artificial-intelligence-trends/
MSIT Student, Wilmington University, the USA.