Top 5 AI Trends to Watch Out For in 2023
AI is being adapted by businesses large and small at an increasing rate. It has made lives easier, made process efficient and even bridged the skills gap. According to an IBM report, 35% of companies are currently using AI and 42% reported that they are exploring the same.
The global artificial intelligence market reached a value of approximately USD 1.2 trillion in 2020. The market is further expected to grow at a CAGR of around 23% in the forecast period of 2023-2028 to reach a value of around USD 6 trillion by 2026.
Here are the top 5 AI trends to watch out for in 2023:
AI in autonomous vehicles
AI will play a very important role in the coming year in all autonomous vehicles that include cars, boats and planes. Baidu plans to establish the world’s largest fully driverless ride-hailing service area in 2023.
UK-based start-up dRISK plans to make a tool for training autonomous vehicles. It uses AI and multiple datasets such as semantic segmentation data, object segmentation data, depth maps, training images and videos.
The launch facilitates driverless cars to quickly recognize high-risk edge cases and better touch-edge conditions. This improves the autonomous capability and safety of driverless vehicles.
German startup Arctictern also offers an AI-based driver monitoring system (DMS). It deploys deep learning algorithms to continuously analyze the driver’s eye, face and head movements. It protects the vehicle and its passengers from accidents due to human error, while ensuring the safety of other vehicles on the road.
The efficiency of already existing AI in vehicles like Tesla will greatly improve and the likelihood for full automation is also highly anticipated.
Competitors to Tesla that include Waymo, Apple, GM and Ford are bringing in alternatives and therefore increasing choice for the customer and thereby reducing reliance on public transport.
No code AI platforms
No-code AI is being created to help regulate the use of AI, making it more accessible to a wider range of companies. The need for AI has grown by 270% according to a survey, but only 37% of companies surveyed have adopted AI in the workplace.
No-code AI can be implemented across businesses for its growth by easily integrating with the help of platforms and integrable modules, no-code AI can be customized to meet a company’s specific needs.
No code AI can be used to automate repetitive processes such as invoicing, contact validation and form filling that can increase business productivity. It also empowers business intelligence solutions by delivering valuable insights that enable smarter business decisions.
AI for Metaverse
The Metaverse uses AI technology to enhance digital worlds we interact with day to day. AI will be a mainstay in the Metaverse. It will create an immersive experience by creating online environments where people can foster their creative impulses. It could also be an environmental hub that we share with fellow humans and AI beings.
Global technology professionals surveyed said 5G and ubiquitous connectivity (71 percent), virtual reality headsets (58 percent), and augmented reality glasses (58 percent) will be very important to the development of the Metaverse in 2023. Metaverse technology will be used to bring employees for corporate training and hybrid meetings.
AI for cybersecurity
Cyber terrorism is much of a potential risk than terrorism in this day and age. As our dependence on technology has increased exponentially in these times, hacking and cybercrime have also increased greatly. An average data breach can cost a company $4.24 million in losses, according to an IBM report.
One of the ways AI can help with cybersecurity is by automating threat monitoring. Monitoring threats requires sifting through reams of unstructured data. An AI not only speeds up the process but avoids human errors which increases the productivity.
A connected device could be a potential device that a terrorist could use. Identifying these points of failure became difficult as systems became more complex.
This is where predictive AI comes into play, as it can be used to examine the network traffic and recognize and identify patterns that suggest criminal behavior. Smart algorithms play an increasing role in keeping us safe from cyber attacks.
AI for enhanced work
More and more machines will incorporate AI technology and turn into smart devices that will not only help people with their daily lives and tasks, but also completely take over the menial daily activities.
This phenomenon will increase accuracy in workspaces and improve overall security. For example, in engineering roles, AI tools will help us by providing predictive maintenance by letting us know when a machine needs service or repair.
AI has come a long way since its inception. From being seen as something complex and dangerous in its application, AI is now being streamlined in many business processes. Although it seems to make the business process smoother, AI should also be used with caution and judgment.
So, in 2023 and beyond, AI will be used to simplify complex work, but businesses need to be responsible while implementing it.
