Trends in Artificial Intelligence to Look Out For in 2023
Artificial Intelligence or AI is present in our lives and has more significant applications than you may imagine.
With constant innovations in AI technology and quick adaptation in human life through different means, it would not be wrong to say that Artificial Intelligence is shaping our lives.
For better or worse, that is a discussion for another time.
From computer software, social media, autonomous vehicles and navigation, digital home assistants, food ordering sites, banking, and video games, to Google algorithms, almost everything you see, touch, or comprehend has AI.
You are likely to find AI helping improve your life on each step, shaping our current trends.
Therefore, it may be helpful to learn about the AI trends that will likely improve your life.
Read on to find out some interesting trends in Artificial Intelligence accessible to the public.
Different Types of Artificial Intelligence
Did you know AI is distinguished into data-centric, model-centric, application-centric, and human-centric?
· Data-centric AI focuses on enhancing and enriching the data used to train the algorithms.
· Model-centric AI keeps the data fixed and iterates over the model and its parameters to improve performance.
· Application-centric AI involves AI engineering, decision intelligence, ModelOps, smart robots, and natural language processing.
· Human-centric AI –An AI model designed to make decisions on behalf of humans.
The involvement of each AI type will depend on the type of industry, product, and requirement.
A developer is likelier to adopt data-centric AI, such as synthetic data and knowledge graphs. In contrast, a householder is likelier to use applications-centric AI, such as smart-home applications.
Some usage may imply one or more artificial intelligence, such as an application or model based on filtering and analyzing data.
Best Usages of Artificial Intelligence in Everyday Life
You may have seen artificial intelligence in the movies taking over technology and destroying humanity.
Although it sounds alarming, you need not worry about the AI taking over the world yet, but you cannot deny its existence in our everyday life, especially its daily usage.
Here are some everyday usages of AI and how it improves our life.
1. Social Media
Although social media is a social networking website, its function is mainly determined by algorithms and AI.
What you see in the feed, the new friend recommendations, sponsored ads, and user experience are monitored by AI.
For example, all major social sites like Facebook, Instagram, and Twitter use big data and artificial intelligence to target advertising.
It assists with providing only the relevant ads and news to your feed.
Similarly, AI scans thousands of posts to find recommended topics for you to include in your posts.
2. Autonomous Vehicles
You cannot imagine an autonomous vehicle or auto-pilot without AI.
All autonomous vehicles are fitted with neural networks and algorithms based on AI and machine learning technology to detect objects on the road.
The Autonomous Vehicle AI will collect and analyze data and make accurate decisions on the road, so you do not have to.
Tesla claims that it uses artificial intelligence to develop and deploy autonomy at scale in vehicles and robots.
Similarly, drones or unmanned aerial vehicles are designed with AI to conduct remote surveillance or deliver essentials like medicine and food.
3. Digital Assistants
Virtual assistants like Siri, Cortana, and Google Assistant are the best examples of AI usage in digital assistants.
An extensive database powers these virtual assistants with millions of answers to resolve your queries.
Moreover, the software can recognize your speech pattern and pronunciations using Natural Language Processing to generate relevant results with fewer or no mistakes.
In fact, the AI running the software will archive each of your responses to produce more accurate results next time.
4. Music and Media Streaming
If you are wondering, most music platforms employ AI to filter, sort, and preview the music of your choice!
AI runs music platforms like Spotify, Netflix, or YouTube to make suggestions based on your preferences.
Spotify leverages user data, from playlist creation to listening history, to predict what you want to listen to.
You would find similar Netflix and YouTube AI making predictions based on your search history to provide more relevant results.
Implementing AI in music and media streaming helps to customize the result based on a particular user’s preference.
5. Plagiarism
Detecting plagiarism is probably the most significant achievement of artificial intelligence because comparing and contrasting millions of copies to find similar phrases, sentences, or paragraphs is an enormous task.
Thanks to data analyzing AI technology, comparing a copy for plagiarism is easy and quick.
You can paste the text into the box and hit “run,” The AI will retrieve plagiarized text within a few seconds.
Moreover, it is easier to determine whether someone has copied your text and made theirs by rephrasing it.
6. Banking
Banking is one of the busiest sectors, with thousands of people crowding daily to inquire, make deposits, withdraw checks, and conduct other financial tasks.
With AI, most of these tasks are cut by one-third because machine learning and AI have taken over most menial jobs.
Now, you do not need to wait long to solve your query; making money transfers is quicker, and verifying details is even simpler.
The machine learning software can read your signature and compare it for errors to conduct critical financial transactions.
5 AI Trends to Look Out For in 2023
According to McKinsey’s The State of AI in 2020 report, more businesses are now turning to AI to increase value in their companies, where 50% of survey respondents claim that their businesses have adopted AI in at least one business function.
Well, enough talking about artificial intelligence’s involvement in our daily life; let us check out some of the latest AI trends for 2023.
1. Predictive Analysis for Improved Operations
Predictive analysis has been around for a while now, but the significant usage came only after the introduction of machine learning and AI to predict accurate results.
Predictive analytics uses data, statistical algorithms, and machine learning to assess historical data for predicting future outcomes.
The advent of predictive analytics for business has helped develop tools to detect fraud, optimize marketing campaigns, improve daily operations, and reduce risk.
For example, Google Adwords, Amazon, and major e-commerce sites apply predictive analysis to determine customer responses to promote cross-sell opportunities.
In fact, AI can help recommend relevant products to customers according to their interests, purchase history, and other specifications so they buy more.
Similarly, it helps detects frauds for cyber security, forecast inventory, manage resources, and reduce risk by assessing buyers’ credit history.
2. Large Language Models to Generate Human Languages
Large Language Models (LLM) are artificial intelligence tools based on machine learning principles to read, analyze, recognize, predict, and generate texts similar to how humans talk and write.
If you are wondering about its usage, LLM helps create more powerful digital assistants, generates accurate search results, and provides product recommendations.
LLM models primarily rely on these models to give better results.
· Statistical Language Models
· Neural Language Models
· Speech Recognition
· Machine Translation
· Sentiment Analysis
· Text Suggestions
Almost every central search platform like Google, iOS, and Amazon uses LLM to improve user trends, ad-targeting, and content-based filtering.
Remember, parsing language is a challenging task for AI due in part to the contextual and individual interpretation of words or phrases.
Therefore, AI and machine learning have gone through major improvements to analyze text and provide relevant user results.
3. AI Chatbots
Chatbots have been around for a while and are here to evolve!
In fact, chatbots have been integrating AI and machine learning to make the chatbot experience more engaging and helpful.
Next-generation AI chatbots heavily rely on Natural Language Processing to generate visual, auditory, and text-based data.
Moreover, most chatbots are automated to interact with customers, provide product-centric information, conduct booking or sales, and manage inventory or databases.
You can say that the AI-run chatbot is an all-in-one business operator.
You can expect to see advanced features with the AI chatbots shortly, which would take in appointments, organize meetings, send out reminders through email or SMS, and assist with Human Resources.
4. Automated Business Process
More and more businesses use automated business models daily to run day-to-day operations.
Thanks to an AI-run business model, you can conduct many menial and complex jobs on the go, including solving business problems, maintaining databases, analyzing Big Data, automating production, generating reports, etc.
Implementing intelligent process automation (IPA) has helped reduce human intervention to create business process automation.
IPS is the application of artificial intelligence, computer vision, cognitive automation, and machine learning to robotic process automation.
It helps improve workload outcomes by optimizing resources, building robust workflows, and using learning abilities to anticipate customer needs.
As automated business process tools are becoming easily accessible, more organizations will adopt them in the future.
5. AI Ethics
Did you know embedded software engineering is more in demand worldwide, with a 21% expected career growth rate in 10 years?
Although Embedded Application (EA) has been around for decades, the technology has seen significant advancements and improvements each year.
Auto-timer in the microwave, motion detection systems, fly-by-wire control system, and traffic light management all uses EA technology.
However, EA has seen its heydays with new gadgets and tools, such as fitness trackers and electric automobiles.
More investments are pouring into building embedded applications to run micro and macro operations required for the smooth running of any device.
For example, EA in automobiles helps to increase efficiency and decrease pollution, anti-lock braking system, electronic stability, and traction control. On the other hand, EA in fitness tracker runs tools that monitor heart rate, footsteps, calories burnt, body temperature, etc.
EA will see its glory days as more new gadgets and tools are introduced in the market!
FAQs About Artificial Intelligence
Here are answers to a few frequently asked questions about artificial intelligence.
Is Artificial Intelligence and Machine Learning (ML) the same?
Not really! Although these two terms are frequently interchangeably used, they are different.
AI represents simulated intelligence in a machine, whereas ML indicates training machines to make independent decisions.
Moreover, ML is a subset of AI and data science.
How big will the AI market become in the future?
AI market is supposed to be implemented in almost every organization, including home security, home assistance, and everyday applications.
According to Tractica, the market for enterprise AI will increase from $202.5 million in 2015 to $11.1 billion by 2024.
Therefore, it will become one of the most promising technology fields with significant applications in the future.
What are Intelligent Agents in AI?
Intelligence agents in AI are autonomous entities with sensors to determine the environment and act upon it using actuators to perform different tasks and goals.
The application of intelligence agents can be simple or complex based on their configuration and end goal.
Both autonomous vehicles and Siri virtual assistant are parts of intelligence agents.
Conclusion
AI is here to stay and evolve, for better or worse, mostly better.
Therefore, you should be proactive about learning about different AI applications and adopting them in your organization.
Look out for future trends in AI, as they will soon make headlines! Most of them will become a part of your life!
