Artificial intelligence (AI) and data analytics are much more than intriguing, possibilities expanding topics – they’re disruptive technologies for your business. Consider that in 2019, research firm DMI expects AI to drive nearly $2 trillion worth of business value. For those that want in on that, DMI offers 8 important AI and analytics trends for 2019.
It’s important for organizations to stay ahead and not lag behind when it comes to AI and analytics, DMI contends. “Those who do not adopt AI will be the losers going forward,” says Srinivasa R. Vegi, executive VP for data analytics and AI at DMI. “Some industries may even be wiped out.”
That seems a little extreme. (We guess they REALLY want people to download their e-book.)
Nonetheless, we do think both AI and analytics will be increasingly important for IT directors in 2019. Here’s a look at DMI’s list of important AI and analytics trends:
AI and Data Analytics Converge
Applying artificial intelligence algorithms to data analytics will prove transformative but the complex merger requires a roadmap – which most organizations don’t yet have. However, DMI points out that while right now AI and data analytics are used mostly for customer interaction, a combination can glean insights that can be used across an entire business.
Smart Applications and Decision Automation Drive Cost Savings
A big benefit to AI and machine learning in enterprises, DMI offers, is be facilitating smarter process changes which will lead to cost savings. Vegi predicts adoption of robotic process operation which within a couple of years could lead to cost savings of 20 percent.
Digital Twins and IoT Optimize
Maybe it’s the AI version of “Wonder Twin powers, activate!” DMI contents that AI and data analytics are crucial to the development of “digital twins” or computerized facsimiles of physical processes like a production line in a factory. This leads to sophisticated sensors coupled with Internet of Things (IoT) that can make production far more efficient.
Edge Computing Enables Real-Time Intelligence
The digital twins trend will lead to demand for high-powered processors. Data center AI and analytics will deliver more real-time intelligence, anticipating problems and implementing fixes before costly breakdowns, according to DMI.
Emergence of Mixed Reality
The lines between virtual reality (think bulky VR goggles) and AR (think really smart data and enriched experiences) will combine to enable unforeseen possibilities.
Prepare for the Blockchain Boom
It’s not as if hackers are going away in 2019. So Blockchain, “a very secure and transparent platform,” will be very much in demand, Vegi says.
Quiz: How Well Do You Understand Blockchain?
Much More Embrace of the Cloud
With better security, more government agencies and healthcare organizations will embrace the cloud in 2019, writes DMI, generating huge new datasets to inform advanced machine learning.
You May Work with Full-Stack Engineers
All these trends related to the merging of artificial intelligence and analytics make data science very important to your organization. As such, organizations like yours may scramble to hire full-stack engineers with AI and analytics skills, predicts DMI.
Learn much more about DMI’s predictions for AI and analytics in 2019. Download the e-book.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our digital newsletters!
Indeed, a very great bunch of information you have shared! Trends are important because right time combined with outstanding ideas and advanced development helps you in many ways.
AI is probably the best outcome among the technologies that we are using today. The trend has with its powerful impact slashed all the similar technology but we should always remain aware of the negative impact it could have on humankind. The recent incidence when Facebook has to shut down its AI experiment is a well-established example of technology being smarter than humans.
Artificial Intelligence has been in play for almost a decade which has fruition intelligent products that we are using or at least have the test prototypes in hand yet there is a lot to be achieved now. All that we have achieved till date is AI development code libraries which mostly works with supervised learning. Now tech giants Microsoft, Facebook & Google are working to create programs that can work over present AI development libraries for cross-platform libraries and unsupervised learning support. AI development will leverage big data, quantum computing, distributed computing and 5G communication for unsupervised learning based AI products development.
As AI can play in a major role in cost depletion in the organization it is understood that the company can invest the same money in various other fields like increasing employees pay or invest more in management of the organization.