13 July 2022
We often hear the terms “artificial intelligence” and “machine learning”. They are applied across sectors and businesses in many different ways. These technologies have become valuable tools for developing cutting-edge tools, systems, and software. And this is set to continue as we move into 2022.
AI (artificial intelligence) and ML (machine learning) are being used in many ways once thought impossible. Many businesses and individuals rely on these tools each day. For instance, individuals may ask voice assistants about the local weather, set their home’s thermostat, or even set a reminder. But there’s so much more these technology tools can do.
The result is that more businesses are looking to make investments in AI and ML for various applications. Some business sectors include the adoption of these technologies in gaming, e-learning, and more. The tools can also improve marketing efforts, increase audience experience and interaction, and much more.
Predictions are that AI voice assistants will number about 8 billion by 2023 and that AI will increase business productivity by 40%!
What is Artificial Intelligence?
Artificial intelligence (AI) is a part of computer science that makes it possible for our smart devices, machines, and more complete tasks that require human intelligence. In other words, AI is meant to mimic human intelligence. It’s used in machines, tools, and software.
Do you have an Amazon Alexa device in your home? If so, then you’re using AI! You can ask this voice assistant to research topics, make movie recommendations, and more. The AI device is able to provide these recommendations and offer assistance in real-time. It’s amazing!
There are four main types of AI, including:
- Self-Aware AI: robots with self-simulation
- Limited Memory AI: self-driving cars that have sensors used to identify traffic lights, people crossing the street, and even steep roads
- Reactive AI: examples include Netflix’s Recommendation Engine & IMBs Deep Blue
- Theory of Mind AI: a robot or system that understands the mind of another similar robot or system
What is Machine Learning?
Machine Learning (ML) is another branch of computer science and AI that imitates how humans learn and improves this capability by using data and algorithms. ML is a subset of AI and is based on the idea that smart systems are able to identify data patterns, acquire knowledge from data, and make decisions without very much human input.
ML is divided into four main types:
- Reinforcement: self-driving cars
- Supervised: linear regression for regression problems
- Semi-supervised: text document classifiers
- Unsupervised: hierarchical clustering
- Upcoming Trends for AI & ML in 2022
Now that you have a basic understanding of these technologies, let’s take a look at how they may be used in the future!
Broader Adoption of AI & ML
These tools are no longer seen as amusing and entertaining. AI & ML are now seen as serious tools that help many people across a broad range of businesses, sectors, and fields. It’s predicted that AI & ML will see broader adoption through 2022 and beyond.
Better Platform Support
With the broader adoption of AI and ML, there’s also a need for more advanced platforms to support higher demand for these technologies.
AI tools, such as smart assistants, social media monitoring systems, automated financial tools, and more will require platforms that are up to date and perform seamlessly with other tech and humans. These tools are more in demand and there’s a great need for supportive platforms for the devices that use this tech.
In the field of data analysis, AI & ML will continue to become more popular and necessary. In this area, too, there’s a need for more integration with other platforms. For this reason, platforms may be chosen based on how AI & ML are used. Currently, some of the most popular AI platforms include:
- Google AI
- Microsoft Azure
- Watson Studio
- Rainbird
- And more
When it comes to ML, these are some of the most popular platforms:
- Amazon SageMaker
- Microsoft Azure Machine Learning Studio
- TIBCO Software
- And more
Increasing Demand for Synthetic Data
Another area of growth for AI & ML is the increasing demand for synthetic data. Synthetic data is data that is artificially generated rather than being based on actual data. It is usually created with algorithms and can be used for a wide variety of activities, such as testing new products, tools, model validation, and more.
Such data is going to be ever more important in different branches and application of ML & AI to perform multiple tasks, including:
- Creating data repositories
- Validating mathematical models
- Optimising cost and privacy during training
- Training ML models
Improved Security
Artificial Intelligence and Machine Learning are used to access, analyse, and process many types of data. With the increase in cyber threats and other security issues, AI & ML are finding a way to help.
Businesses and organisations want to find ways to keep data secure. As a result, there will be increasingly more cybersecurity regulations, protocols, and compliance to ensure digital data and sensitive information is protected.
AI & ML can be used to detect anomalies and fraud, for instance. Fraud detection engines that use AI & ML can detect complex scam patterns. In addition, their analytics can offer detailed information that prevents cyber threats even before they happen. As we move into 2022, data security will become an increasingly important issue. AI & ML can assist in keeping data safe and secure for many types of threats.
Improved Internal AI Uses Cases
In addition, AI can also be used to improve use cases used within a business, IT domains, and across industrial sectors. Some areas where internal AI use cases will increase this year, include:
- Market analysis and personalisation
- Fraud detection
- Digital marketing
- Financial trading
- Email marketing
- Finance & accounting
- Pre-sales, sales, and analytics automation
- Human resources
- Robotic process automation (RPA) to improve productivity & efficiency
The Trend Will Continue
There’s no question that AI & ML are going to be trending way beyond 2022. With the advances and advantages of using these technologies, more businesses and organisations will adopt artificial intelligence and machine learning well into the future.
