In 2019, the tech industry may be more about laying groundwork than historic breakthroughs. New technologies, trends, and customer behaviors are transforming the industry at breakneck speed, creating copious opportunities for those who are able to keep up or better still get ahead of the curve.
This year, we will continue to see the advancement of Machine Learning and Artificial Intelligence, both of these technologies will show immense potential to make our lives much easier, as businesses constantly come up with new ways to use AI to engage with customers, make processes easier and pull revenues to new highs.
Forrester Research says that 2019 will see the rise of new digital workers with an increased competition for data professionals with AI skills. Moreover, The Global Artificial Intelligence market size is expected to reach $619.411,8 million in 2025, from $4.065 million in 2016. Based on those reports, the AI market is segmented by technology, industry vertical, and geography. The various technologies are sub-divided into machine learning, natural language processing, image processing, and speech recognition.
So, what are the next trends of AI and how this technology can further boost the success of businesses? Here’s what you can expect from Artificial Intelligence in 2019
Brace yourself for smarter retail recommendations in 2019 as AI will be able to recommend products based on sentiment analysis in addition to your browsing history. Expect more personalized and guided shopping experiences. Even shoppers in brick-and-mortar stores will be able to get product recommendations from AI-powered store displays.
Many businesses have begun to deploy AI-powered chatbots for their operations. In 2019, companies will not only use chatbot but they will also create a virtual agent. This technology is a computer generated, animated, artificial intelligence virtual character that serves as an online customer service or as smart home managers. It leads an intelligent conversation with users, responds to their questions, and performs adequate non-verbal behavior.
Get set for 2019 and expect to see a lot more speech recognition tools. There is no doubt, this technology will make living easy and offering an easy option to search information. Some brands will adopt speech recognition skills to assist people control everything in their devices or homes.
AI has made it possible to teach computers how to understand speech, but did you know that we can also teach computers to see? Image recognition is all set to cause a disruption in this year. This kind of technology can detect license plates, diagnose diseases, and allow for photo analysis to complete payments or other verification. Image recognition can also help businesses redefine their marketing.
The rise in Cloud infrastructure and Internet of Things devices will make tech security even more complex for business owners. In 2019, AI is expected to be more powerful in fighting off cyber threats, becoming smarter in identifying abnormal activity indicators and deploying a defensive strategy before the threat becomes uncontrollable.
These are just a few developing trends to watch out for as AI moves from buzzword to a useful tool in 2019. By leveraging AI technology, business can imagine and bring to life entirely new products, new services, and new industries for the digital economy. It has endless possibilities to make products and industries more personalised, faster, and more secure. We’re also likely to see an increase in businesses using their data to generate new revenue streams.
In financial services, vast real-time logs of thousands of transactions per second are routinely parsed by machine learning algorithms. Retailers are proficient at grabbing data through till receipts and loyalty programs and feeding it into AI engines to work out how to get better at selling things. Manufacturers use predictive technology to know precisely what stresses machinery can be put under and when it is likely to break down or fail. The increasing number of use-cases will only grow in the future as the hardware and software needed for AI become commoditized and more people will have the skill-set to leverage it as a solution.
Are there any other areas of AI that you are watching with interest? Let us know in the comments!