Innovations keep booming in every industry with advanced technologies like Artificial Intelligence(AI). It is hard to find one field that has not adopted AI today. Hands down, AI has revolutionized multiple industries including, information technology, the health care sector, automotive, manufacturing, finance, and more.
Businesses worldwide have embraced AI and machine learning algorithms to improve productivity and ensure good customer engagement. Even people are using these smart machines in their homes to accelerate their work in their hectic schedules. Thus, AI is an innovative trend that can drive massive breakthroughs in multiple industries and bring intelligent solutions for people’s daily hassles.
Furthermore, the boom of AI innovation trends has created a plethora of job opportunities for individuals in numerous sectors. Knowing about the impact of AI in your industry can help you to update yourself with relevant skills.
So, now let’s take a glimpse of the top 10 Artificial Intelligence trends in 2021 and know what innovations are waiting for us in the future.
1. Robotic Process Automation (RPA)
Robotic process automation (RPA) can help businesses to streamline their processes and reduce costs. Organizations can automate rule-based tedious business processes by implementing RPA. Thus, they can improve the productivity of their workforce by allowing them to devote time to other crucial tasks.
Businesses can leverage RPA to automate something as simple as an automated email response to deploy numerous bots. You can program these bots in an Enterprise Resource Planning (ERP) system to automate rule-based tasks. Several industries, including manufacturing, knowledge process outsourcing (KPO), Human Resources (HR), and finance, implement RPA for seamless processes.
2. Natural Language Processing (NLP)
Natural language processing(NLP) is becoming increasingly popular with the arrival of voice search and applications like Amazon, Alexa, and Google Home.
NLP solutions employ machine learning models to understand the user’s queries and render the most appropriate answers. Businesses can leverage NLP to automate repetitive tasks, like machine translation, summarization, spell check, etc.
Natural language processing is crucial to businesses as they can analyze large volumes of data, social media comments, customer support tickets, online reviews, reports, and more. All these data can act as valuable insights to improve your business/marketing strategies, thus driving sales.
3. Conversational AI
Today, conversational AI or AI-powered chatbots are crucial for understanding customer behavior. Thus, businesses can enhance the customer experience by offering personalized services matching their expectations. An AI-powered chatbot uses natural language processing (NLP) and machine learning to deliver a more natural and human-like interaction. Forrester’s research says that conversational AI solutions can act as better automation of customer service.
4. Ethical AI
Ethical AI is one such area that tops the list of emerging developments in technology. In the coming years, businesses have to indulge in the ethical use of AI for their business continuity and handle uncertainty.
With the evolving trends, today’s value-based customers expect trustworthy businesses to handle AI more responsibly. So, organizations have to actively choose their business partner committed to data ethics in the coming years.
Giants like Google, Microsoft, Apple, and Facebook are into building ethical AI already. They follow an ethical framework with four essential principles like fairness, accountability, transparency, and explainability.
Ethical AI is the current trend in 2021, and these companies are initiating multiple programs and research, encouraging other companies to adopt ethical AI with personalized strategies.
5. AI in Healthcare
Healthcare is one of the industries that get significant benefits from AI and automation solutions. AI solutions are helping the medical industry, right from administrative tasks to diagnosing complex health issues. Besides, researchers have developed thermal cameras and mobile applications to monitor individual temperatures and collect data for healthcare industries.
AI can help healthcare organizations to gain better insights on healthcare trends with data analysis and predictive analytics. Thus, they can recommend preventive measures to stop the spread of specific diseases. Lastly, AI solutions enable doctors to remotely track the health of their patients, enabling teleconsultation and remote care.
6. AI in Cybersecurity
When the whole world of businesses is already on the internet, digital data will be at higher risk in the future. Hackers will attempt to breach data, and organizations can’t compromise data at any cost. AI-powered cybersecurity solutions can track user behaviors and information exchange patterns to foresee any irregularities and prevent data breaches.
With advanced prediction algorithms, the cybersecurity software can identify potential risks, loopholes and find appropriate solutions to enhance cybersecurity. The AI-enabled framework will detect fake digital activity or transactions that match criminal records precisely.
7. Reinforcement Learning
Reinforced learning (RL) will play a vital role in transforming the customer experience in the coming years. It utilizes several deep learning technologies to make the most out of the collected data depending on the specific task. Businesses can use the gathered data to help chatbots respond to user queries and lead the customers to take the desired action.
Some use cases of RL are robotics in planning business strategies, optimizing advertisement content, automating industries, controlling aircraft, and constructing motion control robots.
8. Facial Recognition
AI-powered facial recognition technology is already in use in many applications, like unlocking smartphones to allowing access to authorized places. However, its usage will rise eventually in the next few years as more and more organizations are digitalizing their operations. In the banking and finance sector, AI-enabled facial recognition will enable users to perform secure digital transactions.
9. Edge Computing
Edge computing enables businesses to transform their day-to-day data into actionable insights. It provides servers and data storage solutions for devices and applications to ensure a seamless operation while facilitating real-time data processing, which is way more effective than cloud computing solutions. Moreover, as you can conduct edge computing on nodes, it will even enhance the capabilities of cloud servers.
10. Quantum AI
As many organizations are on the path to adopt the technology in supercomputers, quantum AI will be on the rise with qubits. Quantum computers can resolve any potential problems way faster than classic computers with the help of quantum bits.
Plus, quantum computers come in handy to interpret large sets of data in real-time and predict unique patterns faster. Thus, they can help multiple organizations identify inaccessible issues and predict meaningful solutions. In short, quantum AI can bring advancements in several industries like healthcare, finance, and chemistry in the coming years.
Artificial Intelligence (AI) will have a significant impact in every industry in the coming years. With unlimited innovations, AI will leave no stones unturned. Right from helping businesses and organizations to enhance their workflows, improve their business processes to elevate customer experience, AI can bring innovative solutions to the business sector.
Nevertheless, AI will also bring an immense impact in other crucial fields like healthcare and banking. Yes, we have already seen many technological advancements in the medical field like faster diagnosis, improving life quality, remote healthcare, etc. The same goes with the finance sector too. With AI, secure digital transactions are made possible with face recognition.
Business owners should stay aware of the recent technologies and trends. So, they can implement them for their businesses quickly and stay ahead of their competitors. Even if you are a working professional or general public, knowing the current trends will help you stay updated in your field or live a better lifestyle.