Technology has become an indispensable part of our world today. Nowhere is this more apparent than in the business world. Technology is evolving every day and this affects the business world as well, by extension. Artificial Intelligence (AI) – which is intelligence displayed by computers – is one such example that has come to the forefront in transforming the business world.
From software development to analyzing data, AI has a vast range of applications in today’s market. Engineers who develop AI as well as engineers who know how to utilize AI are both in high demand in the current status quo. As with most cutting edge technologies, you need to be aware of the latest developments in the field if you want your business to stay ahead of the curve and remain competitive in today’s increasingly competitive market.
This article will discuss the top 6 trends in the AI field for the past year that all businesses and their owners need to know about.
1. Computer Vision:
Computer vision is the digital equivalent of human sight. In other words, it is a sub-field within AI in which machines can be taught to interpret information from visual media like pictures and videos. It has a wide range of applications today e.g. law enforcement, healthcare, transportation etc. This is a rising trend with many computer vision startups popping up the year before and this year as well. You can expect this sub-field of AI to become increasingly prominent in the coming years.
2. Language Modelling:
Another major field within AI is natural language processing which includes machine understanding and language generation. This technology enables computers to recognize speech, answer questions and translate. After OpenAI released GPT-3, it rose to become the most powerful language processor market in the world. This can even write creative fiction with specific instructions. This field is trending this year and can be expected to become even more prominent in the coming years with more and more businesses using this technology and innovating.
This will always remain an undying trend whenever it comes to computers and technology. AI can help ward off or even fight against cyber-attacks. It can be taught to monitory network security, strengthen it and fend off attackers from hacking into networks. Businesses and governments, both consider cybersecurity as one of the most important considerations in today’s world as we become increasingly reliant on computers.
4. Extended Reality (XR):
XR is becoming increasingly combined with AI (even though both differ in origin) and are being applied in a range of industries. Automotive and robotics industries, for example, combine both for not only product quality and performance but also for new products like self-driving cars. It is also relevant in our everyday lives e.g. healthcare and smart homes. This combination of two technologies is trending this year, as it has been for the past few, and seems to promise more in the coming years.
5. Codeless AI:
AI platforms are increasingly offering less code intensive alternatives for AI generation and applications in a range of fields. This means good things for small companies just getting off the ground and looking to cut their costs but also leverage cutting edge technology to remain relevant and competitive in the market. They can use this cheap but equally good solution for their businesses. This is also a rising trend and we shall see more of it in the next few years.
6. Internet of Things (IoT):
IoT is a term used to describe the increasing number of pre-programmed devices, for the purpose of gathering, processing, storing and distributing across different networks, connected to the internet. There is a mega-level amount of data being exchanged and businesses can use AI to analyze and interpret the relevant data for useful insights regarding patterns and trends to make smarter business decision. This is yet another rising trend and we can expect to see a lot more of this in the coming years.