Artificial Intelligence (AI) has become a whole industry of its own. AI technology has impacted many industries in the economy’s healthcare, gaming, automobile, and financial/eCommerce sectors.
The moment you access your favorite online store for shopping for apparel or groceries, you are directed to a variety of automated suggested lists that are curated singularly based on your preferences.
The race to AI supremacy has led nations across the globe to explore vast opportunities for professional growth. Pandemic or no pandemic, AI professionals have shown exemplary skill application in varied industries.
A recent study shows an estimated USD 42 billion for AI worth by 2023. This indicates that more AI aspirants are invited to the stream to make it big in their careers. Given everything in mind, we had previously covered machine learning and artificial intelligence revolutions in bits and pieces in our previous blogs.
Top New AI Trends in 2023
The Ongoing Democratization of AI
AI will only achieve its full potential if it’s available to everyone, and every company and organization can benefit. Thankfully in 2023, this will be easier than ever. An ever-growing number of apps put AI functionality at the fingers of anyone, regardless of their level of technical skill. It can be as simple as predictive text suggestions reducing the typing needed to search or write emails to apps that enable us to create sophisticated visualizations and reports with a mouse click.
If there isn’t an app that does what you need, it’s increasingly simple to create your own, even if you don’t know how to code, thanks to the growing number of no-code and low-code platforms. These enable anyone to develop, test and deploy AI-powered solutions using simple drag-and-drop or wizard-based interfaces. Examples include SwayAI, used to build enterprise AI applications, and Akkio, which can create a prediction and decision-making tools.
Ultimately, the democratization of Artificial Intelligence will enable businesses and organizations to overcome the challenges posed by the Artificial intelligence skills gap created by the shortage of skilled and trained data scientists and AI software engineers. By empowering anybody to become “armchair” data scientists and engineers, the power and utility of Artificial intelligence will become within reach for us all.
Generative AI
If you ask most people what they think AI is useful for, they will probably tell you that it’s mainly for automating routine, repetitive tasks. While this is often true, a growing branch of science is dedicated to building AI tools and applications that can mimic one of the most uniquely human skill sets – creativity.
Generative AI algorithms take existing data – video, images or sounds, or even computer code – and create new content that’s never lived in the non-digital world.
One of the most well-known generative AI models is GPT-3, developed by OpenAI and capable of creating text and prose that is indistinguishable from that produced by humans. A variant of GPT-3 known as DALL-E is used to create images.
The technology has achieved mainstream exposure thanks to experiments such as the famous deep-faked Tom Cruise videos and the Metaphysic act, which took America’s Got Talent by storm this year. But in 2023, we will see it used increasingly frequently to create synthetic data that businesses can use for all purposes. Synthetic audio and video data can remove the need to capture film and speech on video – type what you want the audience to see and hear into your generative tools, and the AI creates it for you.
Ethical and Explainable AI
Developing more ethical and explainable AI models is essential for several reasons. Most pressingly, though, it comes down to trust. AI requires data to learn, and often this means personal data. For many potentially most valuable and powerful Artificial Intelligence use cases, it might be sensitive data like health or financial information. If we, the general public, trust the technology change and understand how it makes decisions, we will feel safe handing over our information, and the whole thing will stay intact.
In 2023, there will be efforts to overcome AI’s “black box” problem. Those responsible for putting Artificial Intelligence systems in place will work harder to ensure that they can explain how decisions are made and what information was used to arrive at them. The role of Artificial Intelligence ethics will become increasingly prominent, too, as organizations get to grips with eliminating bias and unfairness from their automated decision-making systems. Partial data has been shown to lead to prejudice in automated outcomes that can potentially lead to discrimination and unfair treatment – which won’t be acceptable in a world where Artificial Intelligence plays a part in decisions involving employment and access to justice or healthcare.
Convergence of IoT and AI
The lines between Artificial Intelligence and IoT are increasingly blurred. While both technologies have independent qualities, they open up better and more unique opportunities. IoT devices create a lot of data that needs to be mined for actionable insights. On the other hand, Artificial Intelligence algorithms require the data before making any conclusions. So the data collected by IoT is being used by Artificial Intelligence algorithms to create valuable results that are further implemented by the IoT devices. Artificial Intelligence’s ability to rapidly glean insights from data makes IoT systems more intelligent. In upcoming years more than 80% of enterprise IoT projects will incorporate Artificial Intelligence in some form, up from just 10% today.
Way Ahead
Artificial Intelligence adoption will continue to grow as more business and research organizations implement new tools, techniques, and technologies to drive innovation. These intelligent systems are already being used to improve business strategies, customer service, market research, advertising, predictive maintenance, autonomous cars, video surveillance, medicine, and more.
If you want to know more about artificial intelligence, we have many other blogs about AI emergence in coding, Shopify, and blockchain.
