Innovation is never-ending and technologies like Artificial Intelligence (AI) are revolutionizing the world. AI has shown promising trends over the years and it's impacting virtually every industry.
The COVID-19 Pandemic has triggered changes in consumer and business trends but even before the pandemic, the world was slowly starting to adopt AI. Be it automation strategy or privacy needs, AI has emerged as a pioneer.
As we move into a new year, we bring you the top 10 AI innovation trends of 2021.
Artificial intelligence innovation was begun long back. Many companies are turning toward RPA to enhance their workflows. RPA can handle and automate repetitive tasks. Integrating AI with RPA however, can take automation and task-handling to the next level. For example, RPA is commonly used in the insurance industry but by adding AI to common insurance RPA processes, the automation process can use image recognition to access and process claims with minimal human interference.
The collaboration of these two technologies has the potential to address many real-time problems. In 2021, we will see more groundbreaking advancements in the automation sector with AI and RPA.
Intelligent Process Automation (IPA) is another use case of AI to automate specific tasks in applications. With IPA, companies can automate processes of unstructured content.
This technology can also collaborate with other technologies like Cognitive Automation, Machine Learning, RPA, and Computer Vision to render strong results. IPA is serving industries like retail, banking, finance, etc. Investment bankers use IPA to identify inconsistencies in research data, which is nearly impossible for humans to identify. In 2021, we will see more industries looking into adopting IPA.
As technologies grow, so too are cybersecurity threats. In 2021 and beyond, data risk and phishing will remain a problem. This year, AI will become more prominent to provide security and support against malicious activities.
With enhanced cybersecurity measures, AI will prevent cybercrimes by spotting fake digital transactions and activities by following patterns to detect criminal activities. In 2021, more organizations will implement AI to handle their cybersecurity tasks.
Artificial intelligence is an impeccable technology and coupled with the power of the Internet of Things (IoT), we get a powerful solution for business. In 2021, the collaboration of these two technologies will bring distinct changes in the automation industry.
In the future, smart home devices such as Google Nest, Smart Plugs, Smart locks, etc will predict and serve human needs. Presently, the devices only work on command, but pairing with AI technology, these devices can automatically predict human needs and start appliances and processes without human intervention. AIoT-infused tools will lead the way to more smart homes in 2021 by bringing efficiency and security to the next level.
Many industries and organizations are are interested in adopting Machine Learning (ML). In 2021, we will see a rise in the number of data scientists. Automated Machine Learning will allow non-experts to understand and utilize ML algorithms.
Tools like Google Cloud AutoML will become more popular in the future. These tools help enterprises add customization without needing to know the complex development process of ML. Businesses will rely on cloud service providers like Amazon Web Services (AWS) and Azure which offer easy-to-use ML templates.
The world has already been using facial recognition techniques, be it social media platforms or cell phones but in the workplace, this technology isn't as common. However, due to COVID-19, many companies have required their employees to wear masks and other PPE in the workplace. Computer Vision can monitor if these safety procedures are being met to ensure safety at workplace.
This technique helps companies keep track of their employees, identify them, etc. Many sectors like healthcare, aviation, retail, and finance will increase the use of Computer Vision. In 2021, we will see a more precise and sensitive Computer Vision systems with more widespread adoption.
In the previous year, many industries and businesses have implemented AI-powered chatbots. AI chatbots are capable of providing better customer service automation. In 2021, these conversational AI chatbots will continue to learn and improve in terms of understanding and communicating with customers.
These chatbots use ML and Natural Language Processing (NLP) to understand natural commands. These chatbots provide natural communication by mimicking human conversation with users.
Before the pandemic hit, there were limited or no organizational tools implemented by companies to foster agile and efficient business processes.
However, in 2021, organizations will use tools like Microsoft Teams, Google Meet, Zoom, etc. to manage employees and enhance customer experience. Automation tools are thriving and the trend of digital workflow automation will accelerate in 2021 and beyond.
AI-enabled processors or chips will be used to enhance all business processes. These AI-infused chips speed up application process requests like object detection, facial recognition, etc.
These chips process NLP faster. Many companies like AMD, NVIDIA, Qualcomm, etc. are creating these AI-infused processors. These chips will improve user experience and boost the performance of all AI applications.
The modern workplace is shifting to a hybrid workforce, where the human workforce will collaborate and work with bots to get their work done more efficiently. In the past few years, we have noticed the emergence of digital assistants like Siri, Alexa and VERA. This trend of human/bot collaboration will continue to grow.
AI is an outstanding technology that has been playing a key role in helping industries and offices enhance their workflows. With the upcoming innovative trends in 2021, AI will remain an integral part of business and industry.