We’re at an exciting point in time where revolutionary technology such as machine learning and artificial intelligence are beginning to be used in almost every industry. As 2017 draws to a close, what can we expect from AI in the near future?
Vanson Bourne recently surveyed 260 business decision-makers from around the world. 80% said they already have some form of AI such as deep learning or machine learning in production today. 30% said they’re planning on expanding their investments into AI within the next 36 months. And interestingly, 62% said they’re expecting to hire a Chief AI Officer at some stage in the future.
Unfortunately, 91% said they can already see issues with AI implementation, with a lack of talent and poor IT infrastructure considered to be significant implementation barriers.
If you’re thinking about implementing artificial intelligence, here are a few things you can expect from this technology in 2018:
Unlike today, when dynamic pricing changes according to variables that have nothing to do with customers, in 2018 we can expect to see personalised dynamic pricing. Online pricing will be based on supply and demand, behaviour, and competitive pricing.
This means that each shopper may receive a unique offer based on the items they’re looking for, with prices frequently changing to reflect that personal offer.
Eventually, this online experience will also happen in brick-and-mortar stores with electronic pricing. While goods will still have a price on the shelf, consumers will also have their own prices, reflecting the unique offer they receive.
Machine learning and artificial intelligence are likely to be more widely implemented in the transportation industry next year. This will enable more predictive, automated analytics and allow for better decision-making. ML and AI will increase safety on roads and motorways since the technology can predict when tow trucks, emergency response vehicles and even snow ploughs should be deployed.
This will be a massive benefit in places like the United States where AI can aggregate and analyse both historic and current traffic, microclimate, and weather data. That would allow transportation agencies to preemptively begin deploying salt to the roads that often end up iced over, right before they actually begin to freeze.
Over the next year or two, the goal will be to automate the user experience on digital platforms and applications. Artificial intelligence is likely to play a central role in helping businesses make this change. Deep learning and machine learning ensure developers can design intelligent apps. These apps are capable of processing huge volumes of data, while generating predictions in real-time through the use of analytics.
Considering the massive changes that AI will help bring in the world, it’s no surprise that many people are concerned about the impact it will have on human jobs.
While some people believe that many jobs will become redundant with this technology, that’s not entirely true. In fact, AI-powered tools will actually create a number of jobs such as cloud engineers, ML/AI developers, UX/UI developers, and data scientists. We can expect AI to continue offering up-skilling opportunities for individuals, allowing them to explore a number of jobs in digital sectors.
We’ve covered chatbots a number of times in previous blog posts, but chatbots will continue to gain popularity in 2018. As we continue to generate billions of bytes of data every second, humans simply can’t keep up with the deluge of information.
Chatbots help make customers’ lives easier by allowing them to receive real-time support whenever they need it. This helps businesses enhance their customer service by automating some of their most important processes. So far, Amazon, Apple, Facebook, and Google have already deployed chatbots which are interacting with customers across a number of major touch points.
Crucially, we can also expect AI to become more accessible to people and businesses that are not experts in the technology. While early forms of AI for business are demonstrating how organisations can maximise efficiency and scale quickly, they need to achieve mainstream usability before they can reach mainstream adoption.
In 2018, AI will likely become much more accessible. That will mean that non-technical users across roles and organisations will be able to implement and operate them. More developers are likely to begin learning how they can program AI systems themselves. This will make artificial intelligence less obscure and instead ensure it’s just another part of the standard toolbox for developers.
By now, you probably already know that you should be planning to implement AI in your business. But, if you’re like most people, you may not have any idea how to make it happen. Luckily, we can help. Get in touch today to learn how we can connect you with the best AI solutions for your business in 2018.