Businesses generate huge volumes of data which become valuable only if you are able to gain sufficient insight from them to make informed decisions. Data accuracy becomes increasingly important as the ability of companies to collect and analyze huge amounts of data from different sources increases. Today, many businesses are adopting Artificial Intelligence (AI) and Machine Learning (ML). Artificial Intelligence is the future of value-added chain operations in a business and it helps to optimize work processes. Machine learning, on the other hand, is a part of Artificial Intelligence that analyzes data to change the way businesses operate and use their data to make decisions that keep an organization competitive. To make the right business decisions, ensure data accuracy with the help of data entry services.
Artificial intelligence and machine learning helps business enterprises to pull out actionable insights from large and complex datasets and deliver business recommendations that can be understood by any business user. With every year, AI and ML are expanding their capabilities to improve customer support, increase sales, and remain competitive. By next year we are likely to see a surge in demand for these technologies. According to CRN Magazine, the following are the AI and ML trends for 2021.
New Trends for Next Year
- Role of AI and ML in Hyperautomation: AI and ML are the main drivers of hyper-automation. For successful hyper-automation, businesses should be able to automate business processes in order to adapt to dynamic circumstances and respond to unexpected situations. Businesses need AI and ML models and deep technology along with valuable data generated by automated systems to allow the system to automatically improve over time and react quickly to the changing business processes and requirements.
- Cybersecurity application with rising use of AI: To ensure cyber security in both corporate system and home security, AI and ML technologies are increasing their capabilities. Developers of cyber security are continuously updating their technology to keep up with the ever-evolving cyber threats. Using AI and ML, technology threats and variants of earlier threats can be identified. AI enables cyber security tools to gather data from a company’s transactional system, websites, digital activity, communication networks and external public sources. These data are analyzed, and AI algorithm is used to recognize patterns and identify threatening activities like data breach, suspicious IP addresses etc.
- Intersection of AI/ML and IoT: According to Transforma Insights, the global IoT market will grow to 24.1 billion devices in 2030, generating $1.5 trillion in revenue. AI and ML are closely linked with IoT. AI, ML and deep learning are already used to make IoT devices and services smarter.
- Disciplined AI Development with AI engineering: As per Gartner’s research, only 53 percent of projects make it to full time production from prototype. When businesses use new AI systems and ML models, they often face difficulties in system maintainability, scalability and governance, and AI initiatives often fail to generate the hoped-for returns. Therefore, having a robust AI and engineering strategy enhances the performance, scalability, interpretability and reliability of AI models and provides the full value of AI investments.
- Continuous ethical questions about AI technology: According to a Washington Post story, several IT vendors like Amazon, IBM etc said that they would limit the use of AI-based facial recognition technology by police departments until there are federal laws regulating the technology’s use. This has led to several ethical questions about the rising use of artificial intelligence technology which includes the obvious misuse of AI for “deepfake” misinformation efforts and for cyberattacks. However, it also includes use of AI by government and law enforcements for surveillance and related activities.
Artificial intelligence (AI) and Machine Learning (ML) are capturing greater business value with powerful algorithms and functionalities. AI and ML can transform the existing enterprises using machine data and analyzing it to gain insights to enhance their operations. The insights from analytics can be used to identify areas of improvement and improve the flow of business operations. To gain accurate insights using AI and ML, it is important to ensure data accuracy. Therefore, businesses can consider associating with a reliable data entry company to convert all important data into digital format with utmost accuracy.