Artificial Intelligence (AI) will be the next big thing in the world of technology. True to the buzz, AI started delivering high-end tech solutions. But as far as business solutions considered, its potential remained unfulfilled by and large. Then came the COIVD-19, AI manifestations offered a variety of business solutions for organizations to tackle the disruptive times of the Coronavirus. For example, AI-driven chatbots are used across the industries to direct the customers to the correct source. Chatbots are used to convey a variety of Corona-related updates. Likewise, Computer Vision, an AI technology, made it easy to follow social distancing norms. Finally, AI started to live up to the potential it offered for businesses and enterprises.
According to the Gartner poll, the Coronavirus has little impact on the AI investments compared to the pre-COVID levels. About 30% of organizations have actually planned to increase investments during the period. Investment confidence indicates how AI is on a sweet spot to becoming the next big thing. In fact, the demand to automate many routine processes due to the COVID-19 may likely work in favor of AI growth.
The future trends of AI in terms of delivering business solutions are as follows.
Democratization of Artificial Intelligence
The trend we would like to witness in the coming days is the democratization of AI. By democratization, we mean, it will not be the exclusive domain of a few experts. Many organizations intended to develop next-level solutions for their business management look to develop AI tools. It leads to multiple players working on the expansion of AI Platforms.
As better solutions develop with the AI, it also requires a set of a market mechanism to take it forward to the audience across the globe. It requires many new roles, including developers, data scientists, and marketers. As the new solutions emerge, the audience grows, and new roles arise, the democratization of AI marches forward.
Industrial-scale AI Platforms
AI platforms are likely to witness industrialization, leading to many new adoptions for smart AI solutions. It also increases the scalability, reusability of AI platforms, which in turn will accelerate the growth further. Industrialization also improves the safety of AI tools.
In the technology-driven fast-paced world, businesses want to make informed and intelligent decisions faster, on a real-time basis if possible. AI will enable this decision making with generative AI.
In the process of producing AI Platform on an industrialization scale, AI governance and responsible AI will get established to look at AI-related business decisions.
The challenges of industrialization include improving the trustworthiness of AI, addressing concerns related to privacy, bias, and compliance. AI security and Deep fakes also become a challenge.