Technological evolution has been overwhelming, even frightening in the last couple of years. Among the most notable results of this evolution was the advent of artificial intelligence technology. It affects big and small businesses all over the world, whether old schools like it or not. However, what industries have received most benefits from AI during this notorious 2020? Our article describing the AI latest trends provides some answers.
Heraclitus once said ‘Change is the only constant thing in the world’. However, for the modern world, it is no longer just a well-known expression but rather a motto. Technological advancement is rapidly transforming all the industries: from IT to education, manufacturing, construction, etc.
No doubt, artificial intelligence is by far one of the most dominant technologies that enable drastic changes today. Thousands of companies are looking for ways to effectively implement artificial intelligence technologies into the workflow and, therefore, drive value for their business.
MMC VENTURES released The State of AI 2019: Divergence report, which states that demand for AI talents exceeds the supply and doubled in the last two years.
The extremely high demand for the technology that enhances business processes and customer experience is also confirmed by Grand View Research, Inc. Report, which predicts that the global artificial intelligence market size will reach USD 733.7 billion by 2027.
Sure thing, today AI industry trends are no longer associated only with drones and robotics. It has become an integral part of almost everything that modern citizens use, be it modern communications devices, home appliances, or smart cars. So, exactly what AI technology trends can people expect in the nearest future? Which industries are going to benefit most?
We are ready with the answers and here are the Qulix Systems’ insights on AI trends in 2020.
Get used to the idea that in the not so distant future you will need to collaborate not only with human teammates but with automated ones as well who will be trained to carry out business processes efficiently and without mistakes.
Digital workforce (alongside with robotic process automation, chatbots, natural language processing, and other cognitive technologies) has long ceased to be an intriguing novelty in manufacturing, retail, banking, and insurance sectors.
We expect the number of businesses that have digital employees to increase significantly by the end of 2020. For instance, office workplaces are going to be revolutionized soon. By implementing bots to automate simple processes and digital workers to perform complete business functions from start to finish, enterprises will ensure flawless and stable work processes with no human intervention.
AI Customer Support and Assistance
Advanced systems powered by automated solutions have facilitated user’s regular tasks like food ordering, hotel booking, movie ticket booking, and many more. AI technologies provide an even more exceptional and convenient customer experience.
Due to AI technologies, it is becoming possible to offer 24/7 customer support with the help of smart chatbots. They can help your clients study different self-service options to save their (and your) time.
By now AI chatbots have become an essential part of customer support for most enterprises, as smart chatbots are one of the easiest ways to solve consumer problems at any time of the day and night. IBM states that smart bots won’t lose their value in 2020; rather they are going to gain even more momentum.
However, immediate support is not the only item on the wish list of today’s demanding customer. Walker predicts that by 2020 customers will expect personalized conversations and demand from the companies to anticipate their needs proactively. This fact is likely to give rise to AI-based platforms that collect customer data from multiple sources and thus assist businesses in creating consumer profiles.
AI-Powered Cybersecurity Solutions
Almost each day we see news about victims of hacking and phishing scams. Unfortunately, cybersecurity is an urgent concern in 2020 as hundreds of thousands of individuals suffer a data breach, while the number of potential victims is way more.
The battle between cybercriminals and defenders never ends.
Emotet Botnet, the TrickBot Trojan, and Ryuk Ransomware are some of the biggest malware threats today, but what threats to data confidentiality will come to light tomorrow? Worry not! Artificial intelligence tools help businesses to fight the cybercrime methods which are already known today and even get ready for cyberattacks of tomorrow.
By using properly tuned AI-based solutions, security analysts can stay ahead of threats and protect users from breaches and compromises to confidential data in time. Properly adjusted AI models can detect anomalies and react accordingly. They analyze information from thousands of available sources, ensure instant insight, and reduce considerably the response time when a phishing attack occurs. Moreover, by training smart technologies, companies can end up with intelligent and self-healing networks that can identify wrongful behaviors and fight back proactively.
Given the importance of cybersecurity nowadays, AI-powered cybersecurity solutions are definitely our favorites among 2020 AI trends.
AI in Media and Entertainment
The media and entertainment industry is flourishing now. Filmmakers, advertising professionals, and game developers attract the multimillion audience by creating a unique user experience. At the same time, such tech and entertainment giants like Google, Microsoft, Blizzard Entertainment, Walt Disney World, Intel do even more. They apply AI new trends actively to offer personalized content and services which improves customer satisfaction.
For example, the popular entertainment platform Netflix has adopted AI technology to study the viewers’ TV-watching behaviors. Thanks to AI they can offer personalized TV and movie recommendations so users stay engaged and prolong their membership.
What’s more, AI algorithms also assist in creating exciting movie trailers, like the horror movie titled ‘Morgan’ by the IBM. The algorithms analyzed over 100 typical horror movies selecting the most exciting visual and audio elements to make a great movie trailer.
Last but not least, smart AI algorithms made a revolution in advertising and marketing, allowing for more effective promotional strategies and customer solutions for media and entertainment players. Take for example ‘Alibaba Luban’ — an excellent AI-based graphic design tool, which can create 8000(!) banners in just a second.
Autonomous Vehicles on Roads
Autonomous driving is one of the main application areas of artificial intelligence.
But why everyone is looking forward to the moment when driverless cars show up on the roads?
The thing is, the forecasts regarding their advent are the most promising ones. For example, the United States Department of Transportation (USDOT) predicts that the rise of driverless cars will reduce roadway crashes, fatalities, and injuries.
Another potential benefit of such cars is featured in Ohio University’s Future of Driving report. The report states that harmful emissions will be reduced by 60% after the manufacturing of ‘driverless’ cars becomes a new norm.
100% increase in lane capacity, lower energy usage, and improved supply chain management are among many other intriguing predictions on the advent of self-driving cars.
Elon Musk is sure that we have to wait just a little bit more to see smart cars on our roads. Already by the end of 2020, Tesla is going to have their fully autonomous cars ready.
“There are no fundamental challenges remaining,” Tesla’s visionary said recently.
Well, few more months and smart cars will start navigating road lanes all over the world!
What’s the Conclusion?
We have listed five major AI trends that are dominant in 2020. As you can see, artificial intelligence is reshaping and redefining the way we live and work, especially in customer servicing, media, cybersecurity, and automotive industries.
If your business belongs to the above list, hurry up to reap the benefits! The more AI you use in your day-to-day business activities, the more competitive advantages you gain.
In modern business AI tools allow reducing human errors, help in repetitive jobs, offer digital assistants to interact with users, provide round-the-clock user servicing, and personalize their experience. Moreover, AI is one of the proven ways to build successful and valuable marketing campaigns in customer service. As you can see, media is actively using the power of smart techs, too! In other words, the potential of AI technologies is almost unlimited.
Thus, if you are still considering whether to try out AI technologies or not, the answer is obvious – for sure! Why deprive your business of the competitive advantage?!
At the same time, to achieve real intelligent and cognitive automation you should keep in mind one more important thing: the implementation of any AI solution requires deep business analysis, proper development, and constant support and monitoring. Only in this case, your business will fully benefit from not so cheap customized smart advantages that intelligent technologies provide.
In our company, we have the whole department – R&D and Innovations – where engineers solve AI/ML challenges and elaborate sophisticated solutions run by smart technologies. Our talents will eagerly share with you their valuable insights and deliver the most demanding AI endeavors for you.
Need assistance finding out how AI-powered solutions can add more value to your business? Or maybe your business requires some help implementing them into your systems? Feel free to contact us or visit our website to find more about our AI competencies.