Already in our shortlist of tech buzzwords 2018, Artificial Intelligence is on the front scene for next year again. Scientists have been working on AI for years and in 2019 we will see some more new applications.
AI refers to the autonomous intelligent behavior of software or machines that have a human-like ability to make decisions and to improve over time by learning from experience. Currently, popular approaches include statistical methods, computational intelligence, and traditional symbolic AI. There are a large number of tools used in AI, including versions of search and mathematical optimization, logic, methods based on probability and economics, and many others. In business intelligence, we are evolving from static reports on what has already happened to proactive analytics with real-time dashboards assisting businesses with more accurate reporting. They indeed enable you to see what is happening at every moment and send alerts when something is off-trend. An important part of artificial intelligence comprises machine learning, and more specifically deep learning – that trend promises more powerful and fast machine learning. An exemplary application of this trend would be artificial Neural Networks (ANN) – the predictive analytics method of analyzing data. Neural networks create a system of interconnected layers with each subsequent layer acting as a filter for more and more complex features that combine those of the previous layer. This feature hierarchy and the filters which model significance in the data, make it possible for the layers to learn from experience. Thus, deep nets can crunch unstructured data that was previously not available for unsupervised analysis.
You can see an application in business intelligence with the datapine solution, that comprises an AI algorithm based on the most advanced neural networks for its alerts. That way, any anomaly is identified with a high accuracy, as it learns from historical trends and patterns: every unexpected event will be notified, and an alert sent.
Some more examples of AI application can be found in various domains: in 2019 we will experience more AI in combination with big data in healthcare. Heart monitors, health monitors, and EEG signal processing algorithms are already on the research frontline. Likewise, major advances have been made in the field of self-driving cars, as major companies, like Tesla and Volvo, are competing to take over the market. Volvo has announced that their autonomous car drivers will have the option to “eat,sleep,works,watch,movie,relax,do whatever.” Another direction in which AI is heading is the introduction of a truly smart smartphone which would be able to make stuff for us. For example, you could tell your phone about the trip you plan and it would book the most convenient flight, hotel and rental car for you. Likewise, 2018 was the year of virtual assistants: Alexa, Cortana, all of them have taken the consumers’ market by storm. It is not going to stop in 2019, as their development is never-ending; Google Now and Siri have become ubiquitous, thanks in large part to the voice recognition software becoming much more powerful over the past year. Siri, Cortana, and Alexa all share similar roles – enabling us to live one step closer to the futuristic notions of having AI virtual assistants that can do anything we need on a whim. Who knows, maybe AI will even have the potential to make or at least help us with our strategic business decisions in the near future.
Regarding the future growth of AI, it is undeniable. The research firm Markets & Markest, for instance, estimates that the AI market will grow from $16.06 billion in 2017 to $190.61 billion by 2025.
AI is undoubtedly one of the most prominent 2019 buzzwords to look out for. Gartner has stated that “artificial intelligence in the form of automated things and augmented intelligence is being used together with IoT, edge computing and digital twins.” We will probably talk about AI as the megatrend of the future. They also predict that by the year 2022, 40% of new application development will have AI co-developers on their team. That being said, it is evident that artificial intelligence won’t leave the IT buzzwords lists any time soon.
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