Top AI Trends for 2020

Considering the impact of AI on business operations, identifying the right trends to follow and implementing them is even more important.

Artificial Intelligence (AI) has the peculiar ability to amaze. The possibilities of AI are infinite and beyond the scope of imagination. AI would be the bedrock of the age of connected mobility, automation, and Industry 4.0, fuelling everything from analytics to decision-making to robotics. The global AI market is expected to touch $ 118.6 billion by 2025, and the innovation in the arena of AI is gaining momentum. Here are some artificial intelligence trends to look out for in 2020.

• Enhanced Customization

For staying ahead of competitors and preparing for the hyper-transforming realm of business, enterprises are relying on AI to gain insights in real-time, know about customer preferences, and deliver services accordingly. Real-time data and pervasive location intelligence has mainstreamed customized services in almost every business verticals. With rising customer expectations, companies need to provide more personalized services to retain customers and remain relevant. This is where AI steps in. The increasing use of AI, coupled with advances in location intelligence, will augment the capacity for offering customized services.

• Boosted Cybersecurity

Mounting challenges about data privacy and security breach have to lead to questions being raised about the security preparedness in the age of AI. It is a fact that expert AI-bolstered cybersecurity mechanisms are safeguarding firms from malicious attacks. Without using AI, legacy systems will not be able to detect and monitor malware that is created at an unprecedented pace. Cybersecurity firms have started using AI for pattern recognition to identify viruses and malware. AI systems can spot even the smallest aberration even before the malware intrudes into the system.

• AI-Powered Chatbots

Businesses today use chatbots to market products and make payments. They are efficient in delivering extraordinary customer service. Chatbots use data from vast databases. But, they might not comprehend particular phrases. These systems will match human conversations too. For instance, AI-driven chatbots can recall parts of a conversation with a client and make a customized conversation using them.

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Impact of AI on Top HR Trends
 

With AI appearing currently, large organizations have restructuring issues. Many global organizations believe that their organizational designs are less than ideal, but only a few know how to bring about a change. The answer lies in making sure global workforce “upskills” are qualified to handle new positions.

Artificial Intelligence and HR Trends:

While AI-related technological developments can cause sluggish growth in few areas of hiring, it creates jobs too. Below are some of the HR trends that we will gain prominence in 2018, in which artificial intelligence will play a crucial role:

A Strategic Business Partner: HR has to work closely with the top management to become a strategic partner as the management makes strategies. Today, numerous CHRO’s have started to implement this. HR has to focus on understanding what employees require as this is essential for becoming a great employer brand.

Emphasis on Employee Productivity: Emphasizing on quality and productivity while hiring increases the benefits for organizations and employees. HR can be supported by people analytics in gathering data that determines characteristics and habits of people and teams performing well. This can help for future talent development and recruitment.

Emphasis on People Analytics: Once a technical discipline, owned by data experts, People Analytics has carved its niche as a managerial and business discipline. Numerous organizations in 2018 will see an increase in a stand-alone people analytics function. Amidst other tasks, People Analytics teams will create measures to link senior management and team leaders.

Learning in Real-time: As micro learning is slowly gaining popularity, learning modules are increasingly breaking up, providing employees with access to learning material when needed. An L&D approach can be adopted through gamification as well, as new virtual and augmented reality offerings making it more fun. The challenge will be to measure and track the performance of human capital of an organization to create or find appropriate learning solutions.

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AI And ML-Based Deployments In Healthcare: Trends

The medical industry is today filled with Artificial intelligence (AI), Machine learning, and deep learning solutions. They have become tools that can help companies to healthcare providers to improve their service and the standard of care, generate higher income, and reduce risks. Artificial intelligence robots are increasingly helping microsurgical procedures to reduce surgical variations, which could affect patient recovery.

The healthcare industry already benefits from Artificial intelligence (AI), machine learning and deep learning. For instance, AI systems will generate $6.7 billion in global health industry revenue by 2021, according to research firm Frost & Sullivan. Their annual growth rate in 2014 was only 634 million dollars, which is a 40 percent compound. AI-driven chatbots can influence healthcare worlds. The Juniper Research report indicates that chatbots are responsible for saving retail, electronic trade, banking, and healthcare $8 trillion per annum by 2022.This is just the beginning. Healthcare industry is ready for AI transformation and is driven by a wide range of information sources-electronic mobile devices, health records, embedded sensors, genome sequences, and even billing documents. The principal material is required to implement Artificial intelligence (AI) and machine learning solutions, is the data. Data is an essential ingredient in improving efficiency and results for providers.

While the requirements of patients to be treated and new therapies develop are often relegated to a healthcare backburner by collection and analysis, new tools enable developers to easily incorporate ML and other capabilities into the routine development and delivery process. Artificial intelligence (AI) and machine learning have now been made available to everybody, not an exclusive province of researchers and technology companies.

The cloud provides the capacity to provide flexibility, security, and analytical capabilities required for the implementation of Artificial intelligence (AI) and ML to drive innovations. Cloud computing platforms make data, whether structured, unstructured or streamed, easier to inject and process. These tools simplify the development, training, and deployment of machine-based learning models. Healthcare organizations that use the data to improve their efficiency and effectiveness will be the most successful in the next few years, as they move forward to value-based care in conjunction with Artificial intelligence (AI).