Machine learning and artificial intelligence are dominating the tech industry. They help businesses achieve their goals, make critical decisions and create new products and services.
In 2022, companies are predicted to possess a mean of 35 AI projects in their organizations.
In fact, the AI and ML market is probably going to grow $9 billion by 2022, at a CAGR of 44%.
Recent advancements in AI and ML technology have seen many successes. Let’s take a look at the top trends in AI/ML for 2022 to get some ideas about how you can control your market.
1. The Increased Role of AI, Data Science, and ML in Hyper Automation
Hyper Automation refers to the use of advanced technologies to automate tasks. Hyper Automation refers to the use of advanced technologies to automate tasks. This is also known as Digital Process Automation or Intelligent Process Automation.
Companies are now working with a lot of data, and automation is required to extract it. There are many data science and analysis tools available. Data science tools have become more readily available, which has led to a new era in data science generation.
There are many careers in high demand, including Data Scientist, Enterprise Architect, and Machine Learning Scientist. Data science is used in many industries, including finance, manufacturing, insurance agencies, marketing, and others.
Organizations use intelligent automation to increase their bottom line.
Hyper automation is a common use of advanced technologies.
- Robotic Process Automation (RPA)
- Artificial Intelligence (AI).
- Machine Learning (ML).
- Cognitive process automation.
- Intelligent Business Process Management Software (iBPMS).
Instead of using script-based tools and limited use cases, the idea is to combine the best technologies to simplify, design, and automate processes across an organization.
These are some ways you can apply hyper-automation to your organization.
- Better customer support: Customer support can be improved by answering customers’ emails, questions, and queries. To automatically respond to customer questions, companies can use RPA and conversational AI to combine RPA and AI. Improve their CSAT score.
- Increase employee productivity: Automating tedious tasks can help you reduce manual labor and increase productivity.
- Systems Integration: Hyper automation allows organizations to seamlessly integrate digital technologies into their processes.
2. Use of AI and Machine Learning for Cybersecurity Applications
Information security is becoming increasingly important due to the use of AI and ML technologies. Organizations are using AI and ML to develop new methods for cybersecurity that are more automated and less risky. AI helps organizations improve their cloud migration strategies and the performance of big-data technologies.
The use of AI/ML in cybersecurity will likely reach USD 38.2 Billion by 2026.
How AI and ML can improve cybersecurity
Cybersecurity requires a lot of data points. AI can be used to secure data by classifying, clustering, processing, filtering, and classifying.
ML, on the other hand, can analyze past data to present the best solutions for the future and present them to the present. The system will use the past data to provide guidance on how to detect malware and threats. AI and ML can thus disrupt the essence of anyone trying to hack into the system.
This is how AI and ML can help you analyze large volumes of data.
- AI and ML can be used to organize data according to a particular pattern. This will allow you to correlate different data sets and scan for threats.
- Audit your data protection procedures to determine if they are effective. This will allow you to protect your users and others.
- AL and ML can be used to detect malware and other threats.
3. The Intersection of AI and ML With loT
AI and Ml are being increasingly used to make IoT devices, services, and products smarter and safer.
Gartner predicts that more than 80% of IoT projects within organizations will include AI and ML by 2022.
The Internet of things aims to connect all devices to the internet and allow them to respond to different situations based upon the data they collect.
This is where AI and ML are crucial. They allow you to quickly get insights from data. Smart sensors and devices automatically detect patterns in data and identify anomalies. Information can include temperature, humidity, sound quality, air quality, voice recognition, and computer vision.
These are the main segments that you will see AI and ML intersecting:
- Wearables: Wearables can be used for fitness, health tracking, heart rate monitoring, and AR/VR devices using AIoT such as smartwatches and wireless earbuds.
- Smart home: These devices can be lights, thermostats, or smart speakers. They learn from the user’s habits and provide support at home.
- Smart city: The AIoT helps make cities safer and more convenient to live in. Smart energy grids, smart street lighting, and smart public transport are just a few examples.
- Smart industry: AIoT can be used to analyze real-time data in order to optimize logistics, operations, and supply chains.
4. Business Forecasting and Analysis
Implementing AI and ML has made business forecasting and analysis much easier than ever before.
AI and ML allow you to consider thousands of matrices in order to make better predictions and forecasts.
Fintech companies use AI to predict demand for different currencies based on market conditions and consumer behavior. It helps Fintech companies have enough supply to meet demand.
5. Rise of Augmented Intelligence
Augmented intelligence refers to the combination of humans and machines in order to improve cognitive performance.
Gartner predicts 40% of infrastructure and operational staff will use AI-augmented automation by 2023 to improve IT productivity. The contribution of digital workers to the economy will increase by 50% by 2022.
Augmented intelligence platforms can collect any sort of data, structured or unstructured, from many sources and present it to customers to supply a 360-degree view.
Financial services, healthcare, and retail are just a few examples of industries where augmented intelligence is being used more frequently.
These are the top five trends expected to dominate the next year. Machine learning in voice assistance, regulation of digital data, and other functions might also be included.
Advanced AI and ML solutions allow companies and trades to predict stress and make fast decisions. Business success is dependent on the ability to manage complex tasks and maintain accuracy. AI and L can do this flawlessly. Artificial intelligence and machine learning trends are further important due to the dynamic nature of ever-growing industries.