Rewind 2020-Artificial Intelligence and What to Expect in 2021?
Artificial Intelligence (AI) has been around since 1950. But the growth it has experienced in the one decade makes it a technology trend that every enterprise is looking forward to. Within a brief period, we have seen AI in solving real-world challenges and emerging as an option for IT operations to automate internal business processes. In the year 2020, the hype of artificial intelligence made many enterprises rethink their architectures and state-of-art strategies to build technological operations that focus on problems. In 2021, the largest of the research organizations across the world predicts the hype of AI continues to increase and change as a reality.
The Year 2020 and Artificial Intelligence.
If we look back to 2020, it is a disruption. COVID-19 break out and subsequent lockdowns, thrown the global economy off-the-line. Irrespective of the niche they serve, most businesses speeded up their digital adoption goals to build re-articulated strategies to keep pace with time. The pandemic effect increased the hype for indulging in artificial intelligence around the world. Even though this year organizations vent virtually in operation, the expected growth of AI project deliverables has seen a drastic increase. And undoubtedly, Artificial Intelligence will be the nucleus of many use cases that we will experience in the future.
TOP AI Trends In 2020.
Whether it would be artificial intelligence, machine learning, deep learning, or NLP, sophisticated computer technology is becoming widely used to understand and improve an organization’s ability and enhance customer experiences. The below listed are a few areas where AI is explored in 2020 to build a sustainable operations architecture.
With time, chatbots are becoming more reliable applications to serve a large group audience with customer service. Integrating AI is making the chatbots more intelligent than ever. An AI-powered chatbot can recall some parts of client conversations and make them more personalized to enhance customer experience.
Data is the fuel that makes AI more powerful and versatile. Data Access Enabling Ubiquity is one of the most recent advancements in AI. Reliable, and accurate information helps businesses to shift to AI-powered automated decision-making. Which reduces human errors and operational costs.
Artificial Intelligence in customer support and assistance is automating many internal business processes to provide high CSI. AI is mitigating the challenges with customer service representatives. Also, helping businesses in building a brand reputation to cut-down the customer churn ratio.
The wave of data disruption has canalized the raw data to drive incisive insights. AI, NLP, and machine learning to process these insights help businesses in building predictive decision-making models. The data-driven decision models can optimize operations from customer service to product marketing for driving high ROI.
AI-powered personalized recommendations are driving the attraction of consumers towards a product or a service based on their recent activities on a web page. Recommendation assistance is enhancing real-time marketing and increasing sales. For instance, during the pandemic, the usage of OTT and video streaming platforms has increased massively. Using recommendations based advertising on the OTT platforms is driving new users and retaining the existing customers.
What can we expect from AI in 2021?
Dr. Arash Rahnama, Head of Applied AI Research at Modzy: 2021 will be the year of explainability. As organizations integrate AI, explainability will become a major part of ML pipelines to establish trust for the users. Understanding how machine learning reasons against real-world data helps build trust between people and models. Without understanding outputs and decision processes, there will never be true confidence in AI-enabled decision-making. Explainability will be critical in moving forward into the next phase of AI adoption.
As discussed earlier, the impact of AI is unstoppable. Even after the global pandemic stuck in 2020, the wave of AI is disrupting every industry. AI helps businesses in exploring new opportunities to scale their outcomes and build sustainable solutions. The branches of AI mainly, machine learning, deep learning, computer vision, NLP, remains a key trend. And when these technologies are incorporated with big data and data analytics, undoubtedly structuring the dynamics of the year 2021, to rethink business strategies and priorities to seamlessly scale operations and improve CSI. As the research and development in AI continue to grow, we can expect more innovations that reduce manual efforts, human errors, and ease human tasks in the upcoming future.
Originally published at https://soulpageit.com on December 31, 2020.
