Artificial Intelligence Trends And How They Impact The Corporate World

  • By Levy Martínez
  • 23-05-2023
  • Artificial Intelligence
artificial intelligence trends and how they impact the corporate world
Many people believe that artificial intelligence is one of the most recent technological trends, however this is not the case. Robots, machines, and software that replicate human behavior have been prevalent in our daily lives for some years without our knowledge.
 
This presence has become more noticeable in recent months, particularly on social networks where users have used artificial intelligence for entertainment: from filters that change the appearance of the face or modify it to make it appear to be of different races, to tools for virtual assistance.
 
We can turn to TechTarget for a more technical explanation of artificial intelligence: "Artificial intelligence is the simulation of human intelligence processes by machines, particularly computer systems." Expert systems, natural language processing, speech recognition, and computer vision are examples of specific AI applications.

How Does Artificial Intelligence Function?

To put it simply, the ultimate goal of artificial intelligence is to mimic human thought. Giving a machine or software the ability to "think" like a person and hence be of great assistance to its users.
 
AI functions by analyzing vast volumes of data with algorithms and complex mathematical models. AI systems are taught with data sets that may or may not be labeled in order for them to spot patterns and make accurate predictions.
 
AI can be approached in a variety of ways, including supervised learning, unsupervised learning, and reinforcement learning. The system is trained using labeled data in supervised learning, whereas the system is trained to discover patterns in unlabeled data in unsupervised learning. In reinforcement learning, the system learns by receiving feedback from its surroundings and rewarding or punishing specific behaviours.
 
Speech and image recognition, machine translation, fraud detection, process optimization, and real-time decision making are all applications of AI.
 
It is crucial to highlight that AI is not a perfect replacement for human intelligence and has considerable limitations. AI systems are susceptible to bias and inaccuracy, and many tasks, like as interpreting spoken language and making ethical and moral judgements, remain difficult for AI.

Trends In Artificial Intelligence To Keep An Eye On

Artificial intelligence, like any other technology, has been evolving since its inception. There are currently various AI-based products and trends that are extensively used by both ordinary people and enterprises to aid in their regular job operations.
 
Let's look at some of the most prominent AI trends:

Machine Learning From Start To Finish

This machine learning technique employs a single model that has been trained to complete a specified task from start to end. This reduces the need for many intermediate models, resulting in a faster training procedure. It is one of the most commonly employed by businesses in their processes, automating repetitive tasks and freeing up human resources to focus on other areas.

Learning Through Deep Reinforcement

Deep neural networks are used in this reinforcement learning technique to learn independently through contact with an external environment. This is employed in applications such as robot control systems and strategy games, resulting in a more human-like experience.

AI Comprehensibility And Transparency

There is a growing desire for explainability and transparency in how AI works, as there are growing worries about bias and a lack of transparency in AI models. New methods are being developed to explain how AI models make judgments and to ensure that they are used fairly. This has helped to alleviate users' ongoing fear about unauthorized data theft.

Artificial Intelligence in The Cloud

With the increasing amount of data and complexity of AI models, an increasing number of enterprises are opting for cloud-based AI services rather than constructing their own systems. This facilitates access and increases scalability.

Integration of AI With Other Technologies

AI is progressively being combined with other technologies including the Internet of Things (IoT), robotics, and augmented reality. This creates new potential in areas such as manufacturing automation and healthcare.
 
These are just some of the emerging trends in the field of AI. As technology continues to evolve, exciting new trends and applications are likely to emerge and become a part of people's daily lives.
 

Growing interest in industries and artificial intelligence

 
Companies all across the world strive to stay current, utilizing the most recent technologies to increase productivity and thus be effective in their sector. One of the most popular in recent years is artificial intelligence.
 
According to a study conducted by Statista, a recognized research and survey service, about 60% of firms worldwide will utilize an artificial intelligence tool in their everyday workflow by 2022.
 
“While artificial intelligence (AI) experienced staggering growth in adoption rates from 2017 to 2018, it has leveled off significantly since 2019. It grew nearly 2.5x in 2022 compared to its adoption rate in 2017. Much of this can be attributed to the fact that AI is more understood as an inherent tool to optimize business and operations in 2022. It is less surprisingly novel and more of an understood value-added factor in business” they explained.

Primary uses of artificial intelligence in the business world

Artificial intelligence trends are no stranger to businesses and corporations. They have reinterpreted them in a way that helps them improve their productivity, stay competitive in the market, and make a profit.
 
Business uses of artificial intelligence range from automating common tasks to rapidly developing or planning new products and services. Let's see the most popular:

Task automation: AI is being used to automate repetitive and routine tasks, such as email sorting, customer service, and inventory management. This allows employees to focus on more creative and higher value tasks.
 
Data analysis: AI can analyze large amounts of data and extract valuable information for business decision making. This is used in applications such as financial risk analysis, customer experience personalization, and manufacturing process optimization.
 
Improved efficiency: AI can identify and solve problems in business processes, improving efficiency and reducing costs. For example, it can be used to optimize the supply chain, reduce equipment downtime, and improve energy efficiency.
 
Innovation: AI is being used to develop new products and services, and to create new ways to interact with customers. For example, AI-powered chatbots are being used to improve customer service and virtual assistants are being developed to help employees perform tasks more efficiently.
 
Changes in the job market: AI is having an impact on the job market, as some tasks are being automated and other jobs are being created in the field of AI. This is changing the skills required for jobs and is leading to new job opportunities.
 
One of the departments that can benefit the most is marketing, since AI algorithms can process and analyze large volumes of data more accurately and faster than humans, reducing the risk of errors. Additionally, it can be used to customize products and services based on individual preferences, leading to a better customer experience.

ChatGPT: The Artificial Intelligence Tool That Is Changing Everything

In addition to the uses that we have already seen of artificial intelligence by companies, there is a tool that has positioned itself as the most popular and with no competition in sight: ChatGPT.
 
Created by the OpenAI company, ChatGPT is powered by GPT technology and is basically a chatbot that uses natural language to imitate a person and thus "converse" with users, providing answers to their various questions or simply engaging in a friendly conversation. .
 
People have given it multiple uses, including legal and historical questions, solving mathematical problems, writing programming codes or solving bug problems, they have asked it to write articles on beauty and daily care, they have even made letters. resignation or love using ChatGPT.
 
For companies, regardless of the industry, ChatGPT has been an ally in terms of customer service. The tool can be used to quickly respond to customer doubts and concerns, filtering the most serious ones to human attention, all this saving valuable time for staff.
 
In addition to ChatGPT, there are already other chatbots or similar tools on the market that are making a huge impact in the daily workflows of millions of people. Microsoft, for example, launched its new Bing chat included in its search engine.
 
On their official website they explain how it works “The new Bing is like having a research assistant, a personal planner, and a creative partner at your side every time you search the web. With this set of AI-powered features, you can ask your real question. When you ask complex questions, Bing gives you detailed answers. You can also get a real answer. Bing analyzes web search results to provide you with a summary answer. Be creative. When you need inspiration, Bing can help you write poems, stories, or even create a new image.

The Advantages of Artificial Intelligence

Artificial intelligence, like any technological trend, offers various advantages for its users that go beyond simple filters on social media that can modify the appearance of a face or show dynamic backgrounds.
 
Artificial intelligence (AI) has extensive applications in a variety of sectors and facets of society. Here are some of the most important benefits of artificial intelligence:
 
Automation: Artificial intelligence (AI) can automate repetitive and mundane processes, freeing up human resources to focus on more difficult and creative jobs. As a result, production, efficiency, and cost savings increase.
 
Decision making: AI systems can quickly and accurately evaluate vast amounts of data, allowing enterprises to make data-driven decisions. AI systems may detect patterns, trends, and insights that humans may miss, resulting in superior decision-making and outcomes.
 
Improved efficiency: AI-powered tools and systems can streamline operations, allocate resources more efficiently, and reduce errors. As a result, operational efficiency improves, waste decreases, and productivity rises.
 
Personalization: AI algorithms can analyze user data and preferences to deliver personalized experiences and recommendations. This is particularly valuable in industries like marketing, e-commerce, and entertainment, where tailoring products and services to individual needs can significantly improve customer satisfaction.
 
Enhanced customer service: chatbots and virtual assistants can handle customer inquiries, provide support, and offer personalized recommendations. These systems are available 24/7, can handle multiple customer interactions simultaneously, and can learn from each interaction to improve over time, leading to better customer service experiences.
 
Advances in healthcare: AI has the potential to revolutionize healthcare by enabling early detection and diagnosis of disease, aiding in the analysis of medical images, and facilitating precision medicine. AI algorithms can analyze medical data, identify patterns, and help healthcare professionals make more accurate diagnoses and treatment plans.
 
Enhanced Safety and Security: AI technologies can be used for monitoring and surveillance, detecting anomalies or potential threats, and improving overall safety and security. For example, AI-powered video analytics can help identify suspicious activity in public spaces or monitor traffic for better accident prevention.
 
Research and development: AI systems can help researchers process and analyze large volumes of data, identify trends, and discover new insights. This can accelerate scientific discoveries and advances in various fields.
 
Predictive Analytics: AI algorithms can analyze historical data to make predictions and forecasts about future trends, behaviors, and outcomes. This can be valuable in areas like financial forecasting, supply chain management, and demand planning.
 
Creativity and Art: AI algorithms can generate music, paintings, and other forms of art, pushing the boundaries of human creativity and inspiring new artistic expressions. AI can also help artists by automating certain tasks, providing inspiration, or assisting in the creation process.
 
While these benefits of AI are exciting, it is important to consider and address the potential ethical, social, and privacy implications as AI continues to advance.

Final Words

Artificial intelligence exists to assist workers, not to replace them. Companies must view this technology as a tool that will boost the productivity and efficiency of their employees while also providing several benefits to the firm as a whole.
 
One of the most significant advantages of using artificial intelligence tools in businesses is the automation and optimization of processes, which allows collaborators and workers to focus on other activities.
 
As the leader of a small, medium, or large firm, you must first attend to the workers, the human team that makes all work processes possible, therefore implementing an artificial intelligence solution is ideal to assist them.

Last Updated in June 2024

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Author

Levy Martínez

My name is Levy Martnez, and I'm a journalist and copywriter with three years of experience writing technology and software articles. I currently write for Rootstack, a software agency with over ten years of expertise and over 200 clients globally.