Benefits of AI in 2020 – What to expect?

Hand of a businessman shaking hands with a Android robot

Many tech experts believe 2020 to be the dawn of a new decade for AI and IoT. It is the beginning of the decade when many innovative technologies will come to the forefront. These technologies can change our lives at a fundamental level, and the process is already happening.

One of these groundbreaking technology is Artificial Intelligence (AI) which is expected to reach new heights in the upcoming decade. Artificial Intelligence has already ingrained itself into our lives, but the presence is not yet apparent. By the end of this year, AI will further expand its reach farther than ever before.

Businesses, government agencies, medicinal practitioners, and scientific researchers are some of the many stakeholders that can directly benefit from AI. In this article, we’ll be exploring the various areas where AI might take hold in the coming year.

Enhanced Facial Recognition

Facial recognition is going to get better manifold in the coming year. We have already witnessed facial recognition in many devices around us. And now, more and more companies are moving away from passwords as they are the leading cause of security breaches.

Banking, retail, government, insurance and many other sectors are investing heavily in AI-based facial recognition tools for detecting frauds and identifying customers.

AI in cybersecurity

Cybersecurity is a massive concern for businesses and governments alike, and AI could be of great help in this regard.

Cyber attacks can be devastating for a firm or a government agency, and they must be avoided at all costs. AI could come to the rescue when it comes to boosting cybersecurity.

AI can deduce pattern and identify abnormalities or irregularities in user behaviour. This data can be collected, which can make it much easier to identify cyber vulnerabilities.

IoT is another technology that is making rapid strides, but it is also plagued by security issues. If coupled with AI, security concerns of IoT could be resolved as well.

More personalisation

Personalisation is going to increase manifold in every domain. Tech giants like Amazon, Google, Facebook, Netflix, Alibaba and others are toiling to provide the best-personalised experience to their customers.

Many other apps, like TikTok, rely entirely on AI for personalisation, and more apps are expected to follow suit.

Companies have amassed enormous amounts of customer data which can be analysed by AI algorithms in a matter seconds. This analysis can be further used to provide a personalised experience to each customer.

Refined Business processes

In this year, AI is predicted to take on more business functions than before. Businesses are using AI to reform and refine their processes. Artificial Intelligence can handle logistics, Finance, Analytics and now even sales functions.

AI algorithms can solve complex business problems like capacity planning, human resource management, financial modelling and database marketing among many others.

AI can also analyse the previous practices followed by the organisation to identify the best one, which leads to maximum revenue or minimum costs. Overall, businesses will massively benefit by incorporating AI into their operations.

AI in Media and Entertainment

In the entertainment industry, AI has not been used that extensively until now, except for the gaming industry. However, that is going to change. Filmmakers are keen to use the latest technologies to make the best quality films. In 2019, we saw an AI-generated de-aged version of Robert De Niro in the Martin Scorsese film “The Irishman”.

Researchers have even come up with music and poetry that has been solely composed by AI, without any human intervention.

The gaming industry has been a regular user of AI, and the usage is expected to increase. Game developers are using AI to design more realistic and human-like gaming experience.

Automation

With Artificial Intelligence comes automation. It is a rule of thumb. Automation is already underway and has taken many jobs that humans used to do not that long ago. The role of automation in our industries expected to grow, especially in the manufacturing sector.

Machine learning and deep learning are two subsets of AI that are vital when it comes to automation. Almost any process can be automated using these two techniques.

From surgery to self-driving cars, AI can perform most human functions better than humans.

Edge computing

Edge computing refers to data processing activities performed near or at the data source, unlike the centralised cloud computing. Edge computing reduces response times saves bandwidth, which essentially means faster speed.

AI, along with other technologies like IoT, is poised to become an edge-based technology rather than a cloud-based technology. Edge computing has numerous benefits over cloud computing, and it is incredibly favourable for remote locations.

Many companies have already transitioned from cloud to edge computing, and this trend is expected to continue in 2020.

More human and AI interaction

We interact with AI most of the time, without even knowing it. Alexa, Google Assistant and Siri are all examples of AI and human interaction. Chatbots are another example.

Experts suggest that this link between AI and humans is going to solidify in 2020.

Researchers are striving to make AI as human as possible. By experimenting with deep learning techniques, researchers are trying to mimic human-like thought process of an AI.

In a Nutshell

AI is one of the few technologies that is bound to become a part of human lifestyle in the coming years. It is changing how we lead our lives and perform our ordinary tasks. The technology has tremendous potential to solve multiple problems and companies all over the world are investing heavily in it.

Critics are arguing that excessive use of AI will render people jobless, but that is highly debatable. In the past, if technology has taken away a few old jobs, then it has also created new jobs. It is valid to some extent in the current scenario.

By the end of this year, AI would have covered vast grounds and would have assimilated itself in the business environment.