Artificial Intelligence Trends for 2018

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With so much going on around the world in Artificial Intelligence, it is safe to predict that AI will continue to be at the top the hype cycle in 2018. It means many industries will be undergoing massive disruption, few of them will need to quickly transform themselves by adopting AI-based systems. During last few months we have seen many governments realizing the importance of technological transformation and announcing a digital strategy for their countries.  One of such biggest news was from Dubai where UAE government appointed first ever minister for artificial intelligence.  While governments supporting digital economy and investing in technologies like AI we will see its effects everywhere.

Let`s have a look how Artificial Intelligence will change our lives in next few years.

Data-Driven Machine Learning will benefit almost all sectors.

We all know due to digital transformation, there is steady growth in amount and types of data that businesses need to process and store on daily basis. Therefore machine learning to process, trend and analyze information will soon be the must-have capability for businesses. Don’t worry if you have not yet implemented AI data strategy, most of the organizations will be using “insight as a service” during 2018.

According Marc Edgar, senior information scientist at GE Research

“2018 will be the year deep learning starts a revolution in almost every sector. Over the next three to five years, deep learning will accelerate product development from years to months and weeks to days to create a new paradigm of rapid innovation in product features, performance, and cost.”

Let’s have a look how different sectors will benefit from it.

  1. Businesses of all types will use it for simplified product marketing and getting accurate sales forecasts.

  2. There is too much going on in the healthcare sector that is increasingly benefited from artificial intelligence and machine learning capabilities. From earlier diagnosis of diseases to accurate and more effective treatment, every area of healthcare will be revolutionized. We will start seeing some major breakthroughs in these areas soon. Current trends in AI-based medical technology revolve around developing intelligent medical devices, the digital transformation of healthcare facilities and intelligent drugs and therapies etc. it is expected that at least half of healthcare systems will adopt some form of the Artificial intelligence based system within next 12 months.

  3. The digital transformation of the financial sector is already underway; the machine learning will help the financial organizations to reduce their risks with increased accuracy in financial decision making and management. AI-based tools will not only reduce the chances of errors but will also help financial sector with predictive modeling. We may expect AI based insurance quotations, AI-based credit scoring and direct lending, AI-based fraud detection, abnormal financial behavior and use of AI to improve regularity compliance, AI-based chatbots for personal financial assistance and much more.

Smart Automation Will Continue.

You may not have noticed many well-known businesses has already started using AI-based tools for their business process automation, for example, Amazon`s subscription order service when you regularly purchase day to day products it automatically starts populating your order and schedules them for regular delivery. Such trends will continue and many others will follow by automating their different services so they can provide better and more personalized customer service experience.

Technology Adoption of AI will be on rise.

As technology refines itself, businesses will start looking into different ways to integrate AI-based tools and techniques into their business operations. We will see in next 12 months and beyond it will help the organizations to gain a competitive advantage over competitors. According to Nicola Morini Bianzino, managing director of Artificial Intelligence and growth & strategy lead of Technology at Accenture “AI is going to affect 25 percent of technology spend going forward. The key topic is how organizations and the human workforce will cope with the changes that AI technologies will bring.”

AI Personal Assistants Will Continue to Get Smarter.

You may have already heard about Chatbots and personal assistance. With the help of AI-based tools, these will get better and smarter. We can expect an increased use of this technology to provide personalized help to the customers.  If we see beyond then this then we can imagine robots doing the entire household work like cooking, cleaning, and washing etc. According to Alejandro Troccoli, senior research scientist, NVIDIA “Personal assistant AIs will keep getting smarter. As our personal assistants learn more about our daily routines, I can imagine the day I need not to worry about preparing dinner. My AI knows what I like, what I have in my pantry, which days of the week I like to cook at home, and makes sure that when I get back from work all my groceries are waiting at my doorstep, ready for me to prepare that delicious meal I had been craving.”

AI Will be more Integrated into Our Social and Business Life.

We have seen human-like robot Sophie in 2017, we can expect better and smarter robots in future who will be able to perform complex tasks that we humans still take for granted. With growing capabilities and progress in artificial intelligence, we will see more objects and business tools with AI capabilities. Our enterprise IT infrastructure will become efficient due to the quick and easy diagnosis of problems by managed IT service provider with help of AI-based tools embedded into the systems.We can expect AI finally entering into our social and business lives within next few years.

Let`s have a look some of the developments in AI during last few months.

  1. Dubai startup raises $1.5m to use AI to reduce vehicle accidents. The company is developing advanced technology aims to reduce vehicle accidents by improving the way vehicle infrastructure talk to each other.

  2. Dubai police launch AI that can spot crimes BEFORE they happen. This AI-based system identifies crime hotspots and predicts future crimes.

  3. Dubai Police Adopts Strategic AI Plan. AI will be used 100% in all areas including security, crime forecasting, accidents by 2030.

  4. UAE prepares to harness AI as it sets out a roadmap for future.  The artificial Intelligence ministry for AI is working on the roadmap for future.

According to Chris Nicholson, CEO and Co-founder, “Robots are going to get better at complex tasks that humans still take for granted, like walking around a room and over objects. They’ll get better at mastering boring, normal things. I’m looking forward to seeing progress in NLP tasks as well since right now we’ve got a ways to go. We’re going to see more and more products that contain some form of AI enter our lives. Waymo’s level 4 autonomous vehicles are deployed on the road now. So all this stuff that’s been tested in the lab will become more common and available. It will touch more lives.”

Interested in learning more about What is Artificial Intelligence and how it is shaping up our future? click here.

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