Artificial Intelligence & Machine Learning — Top 6 Trends to Watch
From science fiction, Artificial Intelligence and Machine Learning have become a fact of life and in recent years the use of AI and ML is rising dramatically.
We are constantly generating more and more data with connected technology, smart gadgets and machine communication.
It is easy to see the advantages of using AI and ML and they constantly evolve. Here are the latest up-and-coming trends:
1. Proactive Market Research
The days of reactive market research are over. AI tools can be used to give powerful insights into likely future behaviors. By combining AI and ML, a company will be able to constantly look at new developments and predict customer needs. AI and ML are not all about reducing costs, it is also about its ability to help companies innovate become more agile.
2. Health Care — Disease Prevention & Smart Prostheses
The Healthcare sector is already taking advantage of AI and ML and is on the cutting edge of this new trend. Using AI and big data has now become a weapon in the fight against cancer and by using historical patient data it could shed light on even more diseases. Smart prosthetics are also on the rise and it is predicted that AI and ML will work to help people with permanent disabilities lead fuller lives. This is seen as the next major leap in medical development and AI and ML is center stage.
AI, with its ability to process data, is leading more and more into the sphere of robotics. Bots can help prevent hazards and analyze and act on data input. Their use has a wide range from chat bots to driver-less cars and virtual nurses.
4. Fewer Fluctuations in Financial Markets with AI Predictions
AI, big data and prediction mean should mean less volatility in financial markets, a greater ability to predict fraud, corruption and maintain greater vigilance. AI and ML lend well to the prediction of risk which can save money and time in multiple financial sectors.
5. Personalized Customer Experience
Intelligent AI has meant an increase in cloud-based virtual assistants that can help improve, enhance and personalize user experience, working with data to ascertain every user’s unique preferences. Business can design marketing campaigns and solutions specific to their customer base leading to leaner operations and better performance.
6. AI-based Image Recognition Tools
Image sharing is already popular and the smartest businesses are using AI to look at these images, identify those that have gone viral and establish why. Visual media is key to social engagement and AI can sift through huge amounts of imagery in short periods allowing businesses to capitalize rapidly on the brand-building potential.
It seems that AI and ML is the future for business in the coming years and while the debate around reliability and cybersecurity continue many businesses are looking to AI and ML to increase growth with less risk.