Future of Artificial Intelligence and Machine Learning
Artificial Intelligence (AI) and Machine Learning (ML) have become some of the most talked-about emerging technologies, fueling discussions and driving innovation across industries. As global giants like Amazon, Google, and Microsoft continue to invest heavily in research and development, these fields are set to remain at the forefront of technological advancements. Notably, Google is even offering free online courses to help individuals expand their knowledge and build skills in AI and ML, ensuring more people can join this rapidly evolving space.
Analysts believe that 2019 will be a pivotal year for businesses eager to embrace new advancements. Next year, we can expect major technology disruptions, including new and innovative uses for machine learning across different industries. Artificial intelligence will significantly impact education, and human-machine interactions will continue to evolve. Additionally, AI-powered assistants will become more common. This is just the beginning of the digital revolution, so it’s important to stay informed about what experts in Artificial Intelligence and Machine Learning are predicting for the months ahead.
New and Innovative Uses for Machine Learning Across Industries
Speaking of technology as advanced as machine learning, seldom would you be able to trace out an industry that would not benefit from it. I mean, is it even possible for a business to not take advantage of a technology that would make it more profitable or successful? The next year is expected to witness multiple new ways of machine learning implementation, few of which are already undergoing a trial run across industries.
Food and Beverages
The Food and Beverages industry is experimenting with machine learning by using the technology to predict which items will run out of stock within a specified timeframe. This timely prediction has a huge cost-benefit, which helps to keep a balance between the high demand for commodities like milk, mineral water, salt and supply of the same.
Military
The US Army is currently using machine learning to predict when fighter vehicles need maintenance or repair. With millions of pieces of equipment in use, the Army needs an efficient way to manage the data. To address this, they are deploying an AI assistant. In the initial phase, several armored infantry vehicles will be equipped with sensors in their engines to monitor temperature and RPM (revolutions per minute). This data is sent to software that uses machine learning to identify patterns that indicate potential engine failures.
Imagine if your car had this capability. If your car could alert you before the transmission fails, AAA services might become a thing of the past. If the Army is already benefiting from this technology, it’s likely that it will soon be available in civilian vehicles. Self-driving cars are a prime example of how artificial intelligence is being used effectively.
Sciences and Healthcare
Life Sciences and Healthcare industry are also unraveling potential new uses for this technology. Recently Google did a pilot project on artificial intelligence, and they have begun to predict the chances of a patient’s death using machine learning with a staggering 95% accuracy. AI created by the company looks at the variables of a patient’s health records, takes into account demographics, health history, and other factors. It then predicts the probability of the patient’s death within the stipulated hours of hospitalization. That sounds a bit despondent when you first hear about it but think of the impact it could have on the healthcare industry. Timely predictions can enable medical practitioners to take appropriate action. Machine learning could help save millions of lives, isn’t that amazing? And the days are numbered by when we will start reaping the actual benefits.
Stock market
Recently a research group has used machine learning to predict stock market performance based on publicly available income documents. These documents were combined with stock price data before and aftermarket announcements. The model’s objective was to find a relationship between language content and the impact on the stock price. After the completion of testing, the most successful result was a 62% chance of predicting a bearish performing stock. That\’s not the highest percentage, but when you\’re investing in something as speculative as the stock market, most of the investors will take chances with 62% accuracy.
As you can see, artificial intelligence and machine learning are empowering us to predict the future by using the data from the past. As far as, AI and ML predictions are concerned, we will be finding out more about enterprises that have discovered how to use these exponential technologies to read and interpret data.
Human and Machine Interaction on the Rise
The growth of artificial intelligence has transformed the common human perception that the technology is nothing more than a robot programmed to do routine tasks, that’s no longer true. In fact, enterprises are beginning to see AI as an integral extension of their core business, contributing to its success. More organizations are working to enhance the relationship between the human and the machine. AI is being designed and improvised as we speak to catapult this into groundbreaking reality.
Research organizations that are developing AI are putting efforts to get it to comprehend the subtleties of human interactions. We express more than we realize when we speak. Could you imagine a chatbot being able to recognize more than what you are implying with your words? That would be so amazing for enhancing customer service beyond excellence.
Analysts predict that AI will continue to evolve throughout this year and the whole of 2019. Having said that, we will also begin to understand the limitations of AI very soon and realize where human intervention is necessary. It will be interesting to notice where we strike the balance and find success.
The Evolution of AI Assistants
How often do you reach out to your favorite AI assistant for help? I use Google Assistant to help me book flights Amazon’s Alexa to switch off lights. And these mundane tasks are only just the beginning. We will soon begin using these assistants for daily operational tasks such as searching the internet, reading emails, responding to communication and even paying bills, booking cabs and ordering products.
2019 will be a year of development for the AI assistant, showing us just how powerful and useful these tools are. It will be in more places than in your home and your office too. Companies such as Mercedes and BMW are launching AI assistants in their vehicles starting this year or next. As days go by, Google, Microsoft, Apple, and Amazon will continue to make advancements to their AI assistants making our lives even easier and more convenient. Technology experts believe that the year 2019 will see emerging technologies like artificial intelligence and machine learning penetrating several new areas, impacting jobs like talent acquisition, banking, finance, accounting and even intellectual jobs like teaching.
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