Introduction
Lately, the term ‘Artificial Intelligence’ has been making headlines and rightly so. Artificial Intelligence (AI trends), that was previously thought to be the stuff science fiction was made of, is now a living, breathing reality of the present-day world. Even though AI is at its infancy, the marvels that it has helped in creating today is helping to make our lives much more convenient and comfortable. Think about smart homes, smart personal assistants, online recommendation engines, self-driving cars, and so much more – all of this has been made possible through AI.
As AI technology continues to develop and progress, it is giving rise to numerous possibilities and innovations that were, in the past, beyond our imagination. Furthermore, with AI we’re witnessing the rise of many interlinked technologies such as Machine Learning (ML), Cognitive Computing, Natural Language Processing (NLP), Neural Network, and Robotics, to name a few. Coupled with these technologies, AI is transforming the face of every major industry today, from business and technology to education and healthcare. In fact, Statista maintains that between 2017-22, the global revenue of the AI market is estimated to increase by ten times.
Seeing as AI is here to stay, here are four AI trends to look out for in 2018!
Machine Learning: AI trends
Machine Learning is all about enabling computers to learn from data and improve specific functions without relying on human commands or assistance. One of the greatest contributions of ML has been automation. For instance, smart homes and virtual assistants are the best examples of home automation. The smart devices, such as a smart thermostat or a smart TV, learn from your behavior and preference patterns and adjust the home temperature or play your favorite movies based on those patterns.
However, automation is not just confined to the boundaries of your home. The financial sector is now heavily relying on automation to automate the redundant and mechanical tasks, thereby freeing up the valuable time of employees. Also, ML plays a big role in helping companies in the banking and finance sector to detect and prevent fraud. These advanced ML models are designed to learn from historical data and trace and identify any anomalies, thereby alerting both companies and customers of potentially fraudulent activities.
AI and ML are also creating a huge wave of change in the healthcare sector. Smart machines that function on advanced algorithms are helping improve the overall workflow and data management in hospitals. Innovative ML applications are helping in the accurate prediction of life-threatening diseases, drug discovery, personalized treatment (remote monitoring and wearables), gene-sequencing, and much more. Moreover, Robotic Surgery is making it possible for doctors to perform even critical operations without causing much wear and tear to the patient.
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