AI-Driven Development in 2020
Dive into how AI is revolutionizing business processes. Learn about AI's role in workplace automation, real-time personalization, data analysis, mainstream integration, human-AI collaboration, and media innovation. Discover the future of AI in business and beyond with Nexrage.
Why managing AI risk presents new challenges
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The difficult of using AI to improve risk management
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How to bring AI into managing risk
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Pros and cons of using AI to manage risks
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Benefits and opportunities for risk managers applying AI
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AI for Business Processes
When robots first entered the workplace, they performed menial tasks and automation for things like production lines. They were able to handle the meticulous, tedious, and important tasks in a way that humans can’t, thus freeing up human talent for more meaningful tasks.
In the 2010s, businesses who used AI were considered on the “cutting edge” of innovation. Now, however, robotic process automation has joined the mainstream thanks to AI software development. Tons of companies big and small are utilizing AI to take care of menial tasks, like creating reports and filing documents. As a result, they can prioritize their focus elsewhere. As we move deeper into 2020, we’ll see this become even more prominent.
Real-Time Personalization
Personalization has become a huge asset that artificial intelligence can offer. Companies like Google and Amazon have already been using it to create personalized experiences for their user base. We see ads that are so spot-on we think, “Something must be listening in.” However, these ads are just a result of incredibly accurate algorithms that use your behavior to predict what happens next.
With AI, companies can get a holistic view of their customer in real-time. The more time AI spends with each customer, the more accurate and personalized the experience becomes. By learning from the customer first-hand, businesses can meet their needs more directly and efficiently.
Data to Strengthen AI
Artificial intelligence runs on data. Without it, it’s just a computer. The more data there is, the more knowledge AI can garner. The better quality data there is, the more accurate AI knowledge can become.
Many companies in the 2010s faced roadblocks as they attempted to move towards integrating AI-based automation into their workflows because the quality of information out there just wasn’t cutting it. Yet, just as other technology advanced over the past decade, so has AI. Now, the data available is more plentiful and accurate than ever.
For example, car companies can simulate entire environments and scenarios during their testing phases without needing to risk the danger or the expense in the real world.
AI Joins the Majority
As artificial intelligence pushes its way into mainstream technology, we’re going to see more devices powered by AI. And as this process happens, the cost will become more accessible as well. What that means is we’re going to start seeing our vehicles, appliances at home, apps, and work tools all relying on artificial intelligence.
Don’t be surprised when more machines begin to learn and think for themselves.
AI and Humans Make Peace
The idea of working and living amongst robots is frightening to some. It’s something that is still new to us as humans, but over this decade, we’ll start getting more used to it. We’ll be able to see tools powered by AI that make our lives easier.
AI robots will take on more responsibility at work. This will lead to industry retraining and a move to fill in the new skills gap created by this shift.
AI in Media
While robots might be able to do a few things better than us humans can, there are still some things better left to the living, breathing, homosapiens. Things like art, music, poetry, script-writing, and storytelling are all still human strengths by far. Even still, AI will help humans create thanks to custom software development. For example, Netflix was able to transport Robert De Niro back in time with the help of artificial intelligence special effects in the 2019 film, The Irishman.
We’ll continue to see AI-generated tools and effects grow in movies, video games, and music in 2020 and beyond. Do you or someone you know use Spotify’s curated playlists? Those are a product of artificial intelligence, learning your listening behavior, and offering suggestions based on that data.
The Future: Something AI Can’t Predict
While artificial intelligence continues to grow, we can look forward to the simplification and automation of many aspects of daily life. Music will become more tailored to each individual, personalization will make consumerism better, and automation will replace inconveniences of the past.
We can make our best predictions of what’s to come, but even artificial intelligence doesn’t know what we can expect down the road!
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