Artificial Intelligence and Machine Learning: Emerging Technologies in IT

The AI and ML revolution will usher in the most significant decade of developments and trends driven by these disruptive but revolutionary technologies. The current decade of 2020 is expected to shift the tides of human growth. AI is already making significant contributions to various industries including agriculture, the automotive industry, e-commerce, education, healthcare, navigation, and many other sectors. In common man’s language, artificial intelligence is the use of algorithms and procedures to mimic human functioning and cognition, while machine learning is a subset of artificial intelligence.

AI is poised to control the world of technology, thanks to advancements in data and computation. The current advancements in artificial intelligence and machine learning are undoubtedly paving the way for some big AI and ML breakthroughs over the next three years. Moris Media, the leading digital marketing agency in India, with its experience of working with some of the top IT firms, presents its perspective on the rising trends for both these technologies.

HYPERAUTOMATION

Hyper automation ushers in a new age in the business sector, enabling effective operation of monotonous activities and repetitive operations. Hyper automation is an AI and machine learning trend that employs self-generated learnt algorithms and trained robots to eliminate human reliance while ensuring accuracy, validity, and speed. The business sectors are ready to automate many operations with the professional aid of AI and ML. Robotic Process Automation (RPA) will witness huge upscaled usage in the upcoming 3 years.

Top industry analysts believe that by 2024, organizations combining hyper-automation technologies with redesigned processes will reduce operational costs by as much as 30%. This implies a large reduction in intermediate operating expenses, enabling corporations to invest in these resources. Hyper automation is an important trend in IT Operations that may be used to unearth valuable data. Another argument for embracing this artificial intelligence trend is improved business and IT alignment.

INNOVATIONS IN NO-CODE AND LOW-CODE

According to current figures in the augmentation of organizations implementing AI and ML, a major spike in AI trends will be observed in the near future. However, the lack of competent AI personnel is preventing many organizations from adopting these technologies. Low-code or no-code solutions have grown in popularity as a means of bridging this gap. These technologies, as the name implies, allow non-AI specialists to use AI applications. No-code AI solutions provide easy interfaces for the creation of complicated systems. The goal of bringing these advancements to the public is to help democratize the technology ecology. The growing need for AI expertise drives up the demand for low-code platforms. Because of its practicality, speed, flexibility, time, and cost advantages, low-code and no-code technologies are expected to be a growing trend in the next years.

CYBERSECURITY

According to some estimates, cybercrime will cost the world $6 trillion per year. Losses of this magnitude undermine the incentives for innovation and investment, and will be more lucrative than the worldwide trade in all major illicit substances combined.

In this day and age of data breaches and cyber dangers, no top company is not seeking for cyber protection. With the exponential growth of data, cyber security has become a full-time job in and of itself. Once again, AI and machine learning come to the rescue. AI has the potential to play a critical role in minimizing these cyber dangers. AI/ML may be effective in detecting unexpected patterns that might pose a danger to data. AI-powered systems collect data from both known and unidentified sources and use learning algorithms to spot strange trends or suspicious activity. The adoption of AI technologies in cyber security may result in improved security applications in the next years. As a result, cyber security has evolved into more than a fad.

METAVERSE

Metaverse is a reflection of what the next generation of Internet is going to be. This virtual platform unifies global internet users creating a platform for mutual interaction. Metaverse has become a trending catchphrase and will ensure significant AI development in coming years. AI and ML are not only going to provide a lot of help for this platform, they will be critical contributor to its effective functioning. AI Bots might be used for assisting users select their desired services while creating immersive experiences for them. AI connects numerous Metaverse components such as 3D animation, VR, and so on. Leading corporations are already a part of this meta-world, with Facebook serving as the most visible example. The existing situation suggests that the metaverse will be a prominent platform in the next years.

NATURAL LANGUAGE PROCESSING (NLP)

One of the most often discussed AI methods is natural language processing. NLP simplifies routine tasks. It reduces the need to manually enter material by understanding human language with the use of pre-programmed software. Sentiment analysis, language translation, text extraction, subject categorization, and chatbots are some of the most common NLP applications in business. Experts are continually attempting to broaden the scope of NLP by creating dialogue tactics that are indistinguishable from human discourse. Alexa, Siri, and Google Assistant are the most common and ubiquitous instances of NLP. These apps use pre-programmed algorithms to convert human words into numbers that computers can read and interpret. Another common use of NLP is chatbots, which are rapidly being utilized to address customer concerns in practically every industry, including hospitals, educational institutions, and consumer-help centres.

A labour-intensive nation like India recognizes the need of embracing AI-driven technologies, citing the fact that these technologies encourage sustainability and have the potential to provide jobs for the next generation. AI and machine learning are seen as important in achieving the objective of modernisation. As a result, AI and ML technologies will play a significant role in the world's future.