The World of Artificial Intelligence

8 Trends to Watch in 2018

  • 75% of developers will include AI functionality in one or more business applications or services by 2018 — IDC
  • 100% of IoT initiatives will be supported by AI capabilities by 2019 IDC
  • 30% of companies will employ AI to increase at least one primary sales processes by 2020 — Gartner
  • Algorithms will positively alter the behavior of billions of workers globally by 2020 — Gartner
  • The artificial intelligence market will surpass $40 billion by 2020. — Constellation Research
  • AI will drive 95% of customer interactions by 2025 — Servion

Here are our 8 AI Trends to Watch in 2018

Trend 1 — The Larger Companies are set to Win

Amazon, Google, Facebook, and IBM are set to lead the way in Artificial Intelligence. As larger companies, they have the right resources to collect data, and therefore, have more data to work with.

  • Investing in AI for over 20 years
  • Web crawl data from over 5B web pages
  • Over 500,000 JPEG images and corresponding JSON metadata files describing products in an operating Amazon Fulfillment Center
  • Over a quarter-billion records updated daily monitoring the world’s broadcast, print, and web news
  • Nearly 100M images and videos with audio and visual features and annotations
  • Amazon’s Echo leads the voice-activated assistant market by a margin of over 70%
  • One of the largest repositories of datasets, with 10–15 Exabyte of data — Cirrus Insight
  • Focuses on applications and product development rather than long-term AI research
  • A team of over 1,300 researchers — Google Brain
  • 23.8% user share of the voice-activated assistant market — Voicebot
  • Using the open ­source platform for machine learning, TensorFlow, to give anyone access to machine learning platforms
  • Size of Google Earth database is estimated as 3,017 TB or approximately 3 Petabytes — Google Earth Blog
  • Google Street View has about 20 Petabytes of street photos — Peta Pixel
  • Processes 2.5B pieces of content and 500+ terabytes of data daily — Tech Crunch
  • Facebook Artificial Intelligence Researchers (FAIR) has about 80 researchers and engineers — FAIR
  • Generates 2B “Likes” and 300M photos a day — Tech Crunch
  • Scans about 105 terabytes of data every 30 minutes -Tech Crunch
  • Built a 62,000 square foot data center that can house 500 racks that hold 1 Exabyte of cold storage
  • Translates about 2B user posts daily in over 40 languages, and translations are seen by 800M users daily — Fortune
  • Plans to make a 10-year, $240M investment to create the MIT — IBM Watson AI Lab — IBM
  • Has over 2000 employees worldwide, with over 600 in the NY headquarters — IBM
  • Watson client engagements span six continents and over 25 countries — IBM
  • IBM is investing $1B in the Watson Group, including $100M for venture investments to support IBM’s start-ups and businesses building cognitive apps made with Watson — IBM
  • Over 7,000 applications have been built through the Watson Ecosystem — Fortune

Global List of 100 Most Promising AI Companies

Source: Fortune

Trend 2 — Consolidation of Algorithms & Technology will Happen

All the Tier2 companies that have invested in AI, like Intel, Salesforce and Twitter, will follow the larger companies that have the data, and start to use their data algorithms and AI. Data trading will occur between the players in the industry and it is most likely that algorithms and technology will be consolidated. The trading of data as well as consolidation of algorithms and technology will make AI more effective.

Trend 3 — Crowd Sourcing of Data will be HUGE

All AI companies will go after huge data sets to find ways and means to execute their ambition towards AI. These companies will start to crowdsource large volumes of data. Companies have found different ways to assess crowdsourced data for quality and authenticity, giving not only businesses the power to benefit from this data, but giving consumers a voice as well.

Trend 4 — M&A and more M&A

CBInsights has statistics that show the race to acquire AI companies has started/ 2018 will be the year when we will see more and more mergers and acquisitions as companies compete for intellectual capital and talent. All the smaller players in the Machine Learning/AI space will get acquired by large companies. There are two reasons for this:

  • AI cannot work in isolation without data sets. Since the larger companies have enormous amounts of data sets, they will prove to be too competitive for the smaller players.
  • Algorithms without data serves no purpose. Without algorithms, data is pretty much useless. Data is at the core of algorithms, and getting large amounts of data is of utmost importance.

Trend 5 — Democratization of Tools to Gain Market Share

The larger companies will start to open source their algorithms & other tool sets to gain market share. Market-based access to data and algorithms entry barriers will decrease and new applications of AI will increase. Through democratization, smaller companies, which have limited or no access to AI tools, will have access to large amounts of data for training and launching sophisticated AI algorithms.

Trend 6 — Human/Machine Interactions will Improve

Siri and Alexa are probably the two most popular Human-Machine interaction tools. More robot based solutions similar to these will be the first level of entry for AI companies. For example, though machines have been programmed for speech analytics and facial recognition, machines will be able to recognize your mood, known as emotional analytics, based on the tone of your voice.

Trend 7 — AI will start to impact all verticals slowly but surely

Manufacturing, customer service, finance, healthcare, and transportation have already been impacted by AI. Self-driving cars are already expected to hit the market by 2018. Next year, AI will affect even more verticals. Brief examples of industries and how AI will impact them include:

  • Insurance — AI will improve the claims process through automation
  • Legal — NLP can summarize thousands of pages of legal documents in minutes, thereby reducing time and improving efficiency
  • PR & media — AI will help to rapidly process data
  • Education — The development of virtual tutors; AI-assisted paper grading; adaptive learning programs, games, and software; and personalized education programs powered by AI will change the way students and teachers interact
  • Health — Machine learning may be used to create more complex, accurate methods to predict diseases years before patients show symptoms

Trend 8 — Security, Privacy, Ethics & Moral Issues

Everything under the umbrella of Artificial intelligence, such as machine learning and big data, are vulnerable to emerging security and privacy problems. Sometimes playing an important part is the critical Infrastructure. The need for security related to privacy issues, like keeping bank accounts and health information private, will create a greater need for security research. 2018 will be the year where concerns with security and privacy will certainly be addressed and possible new developments will be made.

Our Take

Although Artificial Intelligence has been around for many years, AI as we know it today is still in its infancy. There has been a ton of hype around AI and its various applications, from autonomous vehicles to virtual personal assistants and a myriad of other technologies that perform tasks that normally require human intelligence. Although there is a long list of AI use cases, most of which aim at improving specific processes, getting them successfully deployed will take time. Furthermore, there aren’t many players in the AI industry so fragmentation will not be present, and unstructured data and algorithms to process them will become available. The LIFE of AI has just started…and it has a longer way to go.

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