Despite low employment rates in the past difficult year, Artificial Intelligence (AI) still gets the attention and needs of various enterprises. By 2030, AI is expected to contribute $15.7 trillion to the global economy (PwC), thus becoming an essential element in technology innovation.
AI, machine learning, and augmented reality are ready to shape the future, let’s discover what trends await ahead.
1. AI-advanced Chatbot
An AI chatbot is a computer program designed to mimic human conversation using AI technology. The goal of an AI chatbot is to simulate a human-like conversation with users, providing them with information, answering questions, and completing tasks, all through an interactive chat interface. AI chatbots use a combination of machine learning, natural language processing (NLP), and other AI technologies to understand and respond to user requests. They can be programmed with a knowledge base of information, or they can be integrated with other systems, such as databases and APIs, to provide more advanced and dynamic responses.
ChatGPT, a language model created by OpenAI, has stirred up the tech world recently. The model was trained on over 45 terabytes of diverse text data, allowing it to generate text that can match the tone and style of the input data.
2. Artificial Intelligence in the Retail industry
By 2026, experts predict global retail AI to register a 35% annual growth rate. The COVID-19 pandemic encouraged technology development and stimulated the demand for online shopping. In e-commerce and retail, AI and machine learning are used to provide users with predictive suggestions and automate helping tasks. These methods help users to have a more personalized shopping experience and an interactive task environment. IBM research predicts that the integration of AI in manufacturing and commerce will increase from 40 to 80 percent within the next 3 years.
3. Virtual Reality (VR) and Augmented Reality (AR)
Virtual reality and augmented reality are expected to receive main attention in 2023 in means of entertainment, retail, and more. Virtual reality takes you to another dimension via a special headset, this can be seen in in-game or concert experiences. Augmented reality, on the other hand, is becoming the most popular tech by enhancing your real-world experience.
IKEA launched IKEA Place, a new AR app allowing people to place virtual furniture in your home; while Amazon rolled out AR View, a shopping AR feature, to help customers experience new furniture, makeup, and even hairstyles.
4. Artificial Intelligence Companions and Virtual Idols
We are now more familiar with digital companions such as Siri and Alexa. Statista projected that by 2024 the number of digital voice assistants in use will reach 8.4 million units. Apart from popular AI voice assistants, we will soon see the rise of other companions in the market, for example, ElliQ, an elder care assistant, and more similar.
Not only are voice assistants receiving headlines, but virtual idols are also becoming more popular. The concept of virtual entertainers and idols is reshaping the entertainment industry. We can now witness the debut of AI-powered idols such as K-Pop Idol Saejin or Liu Yexi, an 8-million-follower Douyin idol. Virtual idols gather media attention and brand deals from multinational consumer brands like KFP, Tesla, Louis Vuitton. With the expansion of metaverse environments, in which there were many staged concerts held like Ariana Grande in Fortnite or BLACKPINK in PUBG, we will soon see more developments of virtual idols and their shows.
5. AI-enhanced Cybersecurity
AI and Machine Learning are creating new methods of information protection, thus making cybersecurity automated and risk-free. AI is utilized to classify, process, and filter information in the pool of various abundant data. The technology now identifies the threats and harmful software automatically and treats them with suitable solutions that are learned and analyzed from past information. AI will also audit the information protection solutions, allowing owners to quickly see the effectiveness of the solutions and provide alternative solutions for the future.
6. Internet of Things
The Internet of Things (IoT) permeates and simplifies every area of our daily life through smart devices, smart homes and wearable devices. Statista estimated that over 15.1 billion connected devices will be in use in 2023. All these devices will need to be connected to the Internet to fetch the required information to detect anomalies and respond in a timely manner. Such data include time, temperature, air cleanliness, pressure, and many more. Implementation in smart homes can automatically control light, temperature, and electrical appliances to manage your house depending on your habits.
Gartner suggested that by the end of 2022, more than 80 percent of Internet of Things (IoT) projects in corporations will have AI and Machine Learning. Thanks to these technologies, services on the Internet are becoming smarter and more secure.
7. Business Forecasting
Business forecasting and analysis using AI have been utilized by different institutions. AI and Machine Learning are possible to make highly accurate forecasts. Financial institutions are using AI to analyze market conditions, people’s behavior, and fear levels in real-time to predict the demand for currency pairs. This helps companies to prepare the right amount of supply to meet market demand.
8. Artificial Intelligence is seeing a bright future in 2023
Experts are predicting a giant leap for technology in 2023, from our daily life to the more complex virtual environment. There are still more rooms for Artificial Intelligence and Machine Learning to develop and make the world a better and safer place.