Real-Time AI-powered trends to businesses can’t live without in 2021. Although there are many good reasons to remember the year 2020, we have to accept the sad reality i.e. COVID-19 as well which is the major downside of the same year. The best parts are the automation and the enhancement of customer experience through ML and AI. Another learning which came out very strongly is “Work From Home”, it has taught us that we all can do a lot more from home than we used to think. In current times businesses are more focused on AI & ML and investing massive capital for the same.
Companies are getting advanced in many ways to provide tailored and elegant solutions. Technologies like 5G (6G and Quantum computing are a little far for now), cutting-edge medical diagnostics systems, real-time AI-powered e-commerce, consumer electronics, and smart personal assistants are a few examples.
AI’s bundle of joy (Machine learning and its advancement to deep learning and neural network) as horizontal scaling techniques have taken almost every other business and technology to the next level. No one feels surprised to hear Siri/Cortana/Alexa voices around them i.e. the applications which are now part of our daily life and they are everywhere.
The revenue from AI-based hardware, software, and services is to reach $215.7 billion worldwide in the next year. Blockchain is no longer a fashionable technology as well. According to Gartner, about 80% of the technological development in the year 2021, will have artificial intelligence techniques behind them.
AI is getting more and more prominent across industries which is a plus point to move away from hype. It was once over-hyped for marketers, but now it’s the most powerful tool to automate their day-to-day operations. According to McKinsey, the AI industry is expecting to have more than $2.6 trillion worth of business in sales and online marketing. As most companies will seek an enhanced customer experience for their end-users, there will be tough competition against each other for a more stable future. Here are the top 5 AI-powered tools that businesses can’t sustain without in 2021.
AI-Powered Enhanced Cybersecurity
AI-Powered enhanced cybersecurity will become the golden key to saving consumers and companies to fall victim to financial and data privacy frauds. Rise in frauds and data breaching are the most common problem we see on the market. A lot of people get caught in these kinds of traps and eventually lose significant amounts of money/data for their online activities like online purchases or looking for some free things.
As it’s said in the industry, “Fishers(breachers) are everywhere looking for a big fish (opportunity)”. Therefore, to prevent consumers (to fall victim) to all kinds, business is tightening their cyber-security and data collection strategy. These strategies are coming at a huge investment of money, time, and skilled resources. Gaining consumer trust is not easy and if this gets lost somehow then companies become reading material in history books. So essentially AI has the responsibility to improve cybersecurity for companies, home users, and every individual thus it’s in demand.
Some sources from the internet (reliable sources) claims that Facebook collects information like connected computers, phones, connected TVs, and other web-connected devices and internet service provider or mobile operator. This is to analyse your financial capacity & taste and segmentation to serve you ads.
Developers are always in the never-ending race to bring the best technology. That can save millions of customers from data breaches. Advanced coding in ML and AI helps to find threats, malware, ransomware, DDS attacks, and much more. Threat Intelligence to support fraud hunting is the need of today for almost every business.
Hyper Automation powered by Real-Time AI
Hyper Automations are on the rise with advanced AI models. According to Gartner, hyper-automation is the mega-trend that is identified through market research to automate all business processes.
This technique is a new trend and the most reliable one during the pandemic. In other words, you can say it as digital process automation.
Gartner predicts 55% of EA programs will be through artificial intelligence-enabled software, and it will create better enterprise models for internal and external management works by 2022.
ML and AI are the driving force of hyper-automation. To become a successful hyper-automation, you cannot solely rely on static packaged software. The automated business process needs to react according to the situation. And this coding needs to be smart to handle everything without humans. And this process is also called the intelligent automation process.
Real-Time AI – AI-Powered Intelligent Chips Are Always in High Demand.
High end & faster processing computing power was always the golden key to attract consumers but now this is getting smarter as well to increase demand even further.
AI-powered computing system are extremely powerful and smart enough to process data and make intelligent decisions. These processors understand natural language processing (NLP), speech recognition through smart personal assistants. According to Allied Market research, the AI chip industry will cross beyond $100 billion before 2025.
The rise of AI-enabled chips is due to the adoptable processing speed and making smart decisions that CPUs can’t. AI chips break the complex tasks into tiny segments and complete them in mere seconds with high accuracy. Plus, it consumes less energy and can handle predictive analytics and advanced calculations.
AI is going to evolve more and more in the future, and root-level research in this will require massive investments. Though when it will meet quantum computing to expand at horizontal space it would almost reach the nirvana stage.
Customers Are Going to Demand More Personalization.
Customers love when they get pampered, or you make them feel important. It’s where personalization plays a prime role in turning prospects into customers. Real-Time AI is the key here, for example, Siri/Cortana in the pocket.
With above 65% of consumers are expecting personalized messages for conversion. While it was tough to create these experiences with older marketing techniques, AI is door-opening opportunities for tailored and personalized messages for almost all situations.
If you think about the e-commerce industry, being more successful. The prime focuses are more on personalization, and already in the notice. Many other domains are starting to implement it. This way, they get recommendations and personalized emails; that will make them more likely to act. In the present date, all industries are data-driven, and making decisions is a difficult task. Artificial intelligence helps businesses and industries to forecast and make smart decisions through AI-driven technologies.
IPA and the RPA are The New Future of Tomorrow.
Automation is the biggest blessing in the present date; it has over human-made errors through smart coding. Real-Time AI or corrective AI both play a big role here.
Thus, Intelligent Process Automation (IPA) and Robotic Process Automation (RPA) are the new future of tomorrow. According to Forrester, more than 25% of fortune 500 firms are looking forward to investing in RPAs and IPAs.
With RPAs and IPAs, it helps businesses to take information from the system and create visuals to analyze them in real time. To identify different outlines, pipelines, and future predictions for finding out where to invest more and get maximum returns.
Tracking of products and 100% contactless delivery during difficult times in all types of businesses is winning people’s hearts. And to provide them with the enhanced user experience; they have always wanted to have. So, their customers will get hooked on them and get better services.
Points to Note:
When to use artificial neural networks (mostly Real-Time AI) as opposed to traditional machine learning algorithms is a complex one to answer. Neural network architecture and its algorithms may look different to many people but in the end, there is nothing wrong to have them in your tool kit. It entirely depends upon the problem in hand to solve. One needs to be patient and experienced enough to know the correct answers. All credits if any remains on the original contributor only.
Feedback & Further Question
Do you have any questions about Quantum technologies, Artificial Intelligence and its subdomains like Deep Learning or Machine Learning? etc. Leave a comment or ask your question via email. Will try my best to answer it.
Conclusion – The scope of artificial intelligence is remarkably diverse, and it varies depending on business needs. These trends are driving Real-Time AI at a higher pace towards 2021, through more personalization, and analysis of real-time information. Providing more cybersecurity and smart AI chips, along with RPA and IPA, are the most looked out trends for 2021 and beyond. It’s an advanced technique powered by smart coding that has many applications worldwide across industries. Therefore, organizations must focus on these latest trends, build new strategies, and implement them to get the best results using advanced technology.
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Palak Airon – Governs the digital content to assemble good relationships for enterprises and individuals. Palak with over 8 years of professional experience in the IT industry. Competent in Data Science and Digital Marketing. Expertise in professionally researched technical content writing. Her efforts eventually enhance companies shape by delivering stupendous solutions to their business problems.
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