{"id":58041,"date":"2019-01-15T00:00:00","date_gmt":"2019-01-14T22:00:00","guid":{"rendered":"https:\/\/richardvanhooijdonk.com\/blog\/top-ai-trends-that-shouldnt-be-overlooked-in-2019\/"},"modified":"2021-07-11T18:33:02","modified_gmt":"2021-07-11T16:33:02","slug":"top-ai-trends-that-shouldnt-be-overlooked-in-2019","status":"publish","type":"post","link":"https:\/\/blog.richardvanhooijdonk.com\/en\/top-ai-trends-that-shouldnt-be-overlooked-in-2019\/","title":{"rendered":"Top AI trends that shouldn\u2019t be overlooked in 2019"},"content":{"rendered":"<ul class=\"bold-list\">\n<li>Data is a hot commodity<\/li>\n<li>Powerful chips will help AI operate faster<\/li>\n<li>A move to end \u2018black box\u2019 AI<\/li>\n<li>AI is taking care of our health<\/li>\n<li>Universities are getting an AI-powered makeover<\/li>\n<li>Smart algorithms will continue to transform the economy<\/li>\n<\/ul>\n<p>The rise of <a href=\"https:\/\/blog.richardvanhooijdonk.com\/en\/the-potential-of-artificial-intelligence-is-as-impressive-as-it-is-horrifying\/\">artificial intelligence<\/a> in the past few years has transformed the way we live and run business. From daily tasks such as grocery shopping to industrial processes like car manufacturing, AI is increasingly used to power our society. Such profound change has been met with both fear and hope, and just like any other disruptive tech, this one, too, is bound to create winners and losers. And to make sure they\u2019re on the winning side, both corporate giants and innovative startups are investing in AI to gain a competitive edge and outperform the competition. A critical part of this strategy is tracking and analysing various <a href=\"https:\/\/blog.richardvanhooijdonk.com\/en\/25-tech-trends-that-will-spearhead-digital-transformation-in-2019-and-beyond\/\">trends<\/a> that shape the future of AI and using them to secure the growth of your company.<\/p>\n<p>That\u2019s usually easier said than done, though, as various trends often converge and intertwine, sometimes with unexpected results. Nevertheless, understanding AI is critical, as its market value is set to <a href=\"https:\/\/www.statista.com\/statistics\/607716\/worldwide-artificial-intelligence-market-revenues\/\">grow<\/a> from $7.3 billion this year to almost $90 billion in 2025. In fact, this tech will be so pervasive <a href=\"https:\/\/www.ventureharbour.com\/marketing-ai-machine-learning-statistics\/\">that<\/a>, by 2020, 85 per cent of \u201ccustomer interactions will be handled without a human\u201d, with AI expected to eliminate 1.8 million jobs and create 2.3 million of new ones. Companies that deploy AI will <a href=\"https:\/\/www.ventureharbour.com\/marketing-ai-machine-learning-statistics\/\">boost<\/a> profitability by up to 38 per cent and annual investment in AI, machine learning, and robotic process automation is <a href=\"https:\/\/www.computerweekly.com\/news\/252445951\/Intelligent-automation-spending-to-hit-232bn-by-2025\">expected<\/a> to reach $232 billion by 2025.<\/p>\n<p>The importance of this technology is evident, and to help you keep track of the forces that are shaping it, we\u2019ve gathered and assessed the top trends that shouldn\u2019t be overlooked in 2019. From the growing importance of data and new powerful chips to the revolution in healthcare and higher education, the future of artificial intelligence looks exciting.<\/p>\n<h2>Data is a hot commodity<\/h2>\n<p>Just like humans depend on past experience to act more intelligently in the future, AI, too, learns from data to become smarter and make better decisions. Many companies that introduced AI in the past, however, will inevitably <a href=\"https:\/\/www.information-management.com\/list\/5-trends-to-expect-for-artificial-intelligence-in-2019\">realise<\/a> that \u201ctheir irrational exuberance for AI adoption must be equally met with solid efforts on an AI-worthy data environment\u201d. Quality data suited for AI machines will therefore become a hot commodity next year, so much so that specialised vendors for crucial datasets are poised to make a hefty profit.<\/p>\n<p>For instance, Bloomberg, an information and tech company, possesses vast amounts of historical data on the currency exchange market, stock prices, and US Treasury bonds. The company decided to team up with the Japanese AI startup Alpaca and use its datasets to <a href=\"https:\/\/www.bloomberg.com\/company\/announcements\/bloomberg-launches-market-forecasting-application-powered-by-artificial-intelligence\/\">develop<\/a> software that \u201cprovides short-term market price forecasts for major markets such as USD\/JPY, EUR\/USD, AUD\/JPY, CME Nikkei 225 Futures Index and US 10-year treasury bonds\u201d. In other words, the AI-powered algorithm will try to make sense of market price swings and help managers make the best investment decisions.<\/p>\n<figure id=\"attachment_3049\" aria-describedby=\"caption-attachment-3049\" style=\"width: 770px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-3049 size-full\" src=\"https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/sites\/4\/2019\/05\/ai-ml-intro-header.jpg\" alt=\"\" width=\"770\" height=\"577\"><figcaption id=\"caption-attachment-3049\" class=\"wp-caption-text\">Just like humans depend on past experience to act more intelligently in the future, AI, too, learns from data to become smarter and make better decisions.<\/figcaption><\/figure>\n<p>Also, more data means more demand for data <a href=\"https:\/\/www.forbes.com\/sites\/forbestechcouncil\/2018\/11\/29\/five-big-trends-leveraging-artificial-intelligence-to-watch-in-2019\/#98924376912519\/\">specialists<\/a> \u201cwho are capable of handling sizable data sets in preparation for AI implementation\u201d. In fact, IBM <a href=\"https:\/\/www.forbes.com\/sites\/forbestechcouncil\/2018\/11\/29\/five-big-trends-leveraging-artificial-intelligence-to-watch-in-2019\/#98924376912519\/\">estimates<\/a> that in four years, the number of jobs for data professionals in the US alone will increase to 2.7 million. More than <a href=\"https:\/\/www.forbes.com\/sites\/louiscolumbus\/2017\/05\/13\/ibm-predicts-demand-for-data-scientists-will-soar-28-by-2020\/#747e944b7e3b\">half<\/a> of those jobs will be in finance and insurance, professional services, and IT industries. These are also well-paid jobs as the average salary of data scientists is <a href=\"https:\/\/www.forbes.com\/sites\/louiscolumbus\/2017\/05\/13\/ibm-predicts-demand-for-data-scientists-will-soar-28-by-2020\/#747e944b7e3b\">around<\/a> $105,000 per year, while data engineering jobs pay roughly $117,000, depending on experience and qualifications. And one of the reasons why data science experts are critical is that failure to hire them can <a href=\"https:\/\/www.forbes.com\/sites\/louiscolumbus\/2017\/05\/13\/ibm-predicts-demand-for-data-scientists-will-soar-28-by-2020\/#331638077e3b\">cause<\/a> significant \u201cdisruption to ongoing product development and go-to-market strategies\u201d.<\/p>\n<h2>Powerful chips will help AI operate faster<\/h2>\n<p>And as AI technology becomes increasingly powerful, it\u2019ll require equally powerful hardware to run complex mathematical computations. To overcome the limitations of existing CPUs, chip manufacturers like NVidia, Qualcomm, and Intel are <a href=\"https:\/\/www.forbes.com\/sites\/janakirammsv\/2018\/12\/09\/5-artificial-intelligence-trends-to-watch-out-for-in-2019\/#43f8c3a75618\">expected<\/a> to produce \u201cspecialized chips that speed up the execution of AI-enabled applications\u201d next year. These new chips will be optimised for specific AI-related tasks in the field of computer vision, natural language processing, and speech recognition. Amazon, Microsoft, Google, and Facebook will also <a href=\"https:\/\/www.forbes.com\/sites\/janakirammsv\/2018\/12\/09\/5-artificial-intelligence-trends-to-watch-out-for-in-2019\/#43f8c3a75618\">invest<\/a> more in the production of chips that can improve operations such as query processing and predictive analytics. The AI chip market will therefore keep growing, and its value is <a href=\"https:\/\/www.reportlinker.com\/p05284984\/Global-Artificial-Intelligence-Chip-Market-Analysis.html\">expected<\/a> to reach $10.8 billion by 2023, <a href=\"https:\/\/www.alliedmarketresearch.com\/artificial-intelligence-chip-market\">powered<\/a> by, among other things, <a href=\"https:\/\/www.alliedmarketresearch.com\/artificial-intelligence-chip-market\">an increase<\/a> in \u201cdemand for smart homes, development of smart cities, and emergence of quantum computing\u201d.<\/p>\n<h2>A move to end \u2018black box\u2019 AI<\/h2>\n<p>Meanwhile, the inner workings of many AI systems currently in use, some of which we depend on for our lives sometimes, remain <a href=\"https:\/\/www.forbes.com\/sites\/bernardmarr\/2018\/12\/03\/5-important-artificial-intelligence-predictions-for-2019-everyone-should-read\/#1c560d3319f5\">unknown<\/a> to citizens and even authorities. This \u2018black box\u2019 problem is a potential roadblock to the growth of AI, since \u201cusers will demand real-world, plain English examples and explanations for full transparency\u201d of how AI actually functions, <a href=\"https:\/\/www.eweek.com\/innovation\/predictions-2019-how-ai-machine-learning-continue-to-impact-us\">says<\/a> Tom Wilde, the CEO and founder of the AI company Indico. We might soon see companies taking measures to increase the transparency of their AI as the prominence of this <a href=\"https:\/\/www.forbes.com\/sites\/bernardmarr\/2018\/12\/03\/5-important-artificial-intelligence-predictions-for-2019-everyone-should-read\/#3cc74147319f\">issue<\/a> \u201cin public discourse is likely to grow\u201d.<\/p>\n<p>No one can expect people to be satisfied with a \u201cbecause the machine said so\u201d explanation as to why their insurance rates increased or their job application got rejected. Instead, the power granted by the EU General Data Protection Regulation (GDPR), the EU <a href=\"https:\/\/en.wikipedia.org\/wiki\/General_Data_Protection_Regulation\">data privacy regulation<\/a>, could <a href=\"https:\/\/searchenterpriseai.techtarget.com\/feature\/GDPR-regulations-put-premium-on-transparent-AI\">force<\/a> companies to provide meaningful explanation on how their AI algorithms actually make those decisions. And even without the pressure from public institutions, companies would be wise to critically examine the consequences of the algorithms they\u2019ve built, the inner workings of which they\u2019re often unable to fully explain. As Tommi Jaakkola, a professor of computer science at MIT, <a href=\"https:\/\/www.technologyreview.com\/s\/604087\/the-dark-secret-at-the-heart-of-ai\/\">says<\/a>, \u201cWhether it\u2019s an investment decision, a medical decision, or maybe a military decision, you don\u2019t want to just rely on a \u2018black box\u2019 method.\u201d<\/p>\n<h2>AI is taking care of our health<\/h2>\n<p>But for all its complexity, AI can also be a force for good, especially in the healthcare industry. Accenture <a href=\"https:\/\/www.accenture.com\/us-en\/insight-artificial-intelligence-healthcare\">predicts<\/a> that in the US alone, AI could potentially save $150 billion for the healthcare economy by 2026, while the AI health market is set to reach a value of $6.6 billion by 2021. The applications for this technology in healthcare are impressive. Smart algorithms, for instance, were used to predict the efficacy of immunotherapy in cancer patients by analysing medical images and could one day <a href=\"https:\/\/www.sciencedaily.com\/releases\/2018\/08\/180827134439.htm\">even<\/a> \u201cidentify biological phenomena in a tumour located in any part of the body without [doctors] having to perform a biopsy\u201d. Similar projects will continue in the future, and we\u2019ll also see an <a href=\"https:\/\/www.forbes.com\/sites\/gilpress\/2018\/12\/09\/120-ai-predictions-for-2019\/#2878244688cd\">increase<\/a> in the number of AI-powered health wearables that track a range of conditions such as blood pressure and blood sugar levels. This will enable doctors to remotely monitor our health and act on time.<\/p>\n<h2>Universities are getting an AI-powered makeover<\/h2>\n<p>Lastly, universities are expected to use more AI solutions in their classrooms and campuses as the learning preferences of new, tech-savvy generations are <a href=\"https:\/\/www.forbes.com\/sites\/gilpress\/2018\/12\/09\/120-ai-predictions-for-2019\/#2878244688cd\">different<\/a> than those of their predecessors. Generation Z \u2013 <a href=\"https:\/\/www.visioncritical.com\/gen-z-versus-millennials-infographics\/\">those<\/a> born between 1996 and 2010 \u2013 now make up the <a href=\"https:\/\/www.zdnet.com\/article\/tech-habits-of-college-students-reveals-surprises-with-gen-z\/\">majority<\/a> of the 16 million Americans that attend colleges and are comfortable with using a variety of digital tools such as Skype or online forums to study. Most of them think that learning isn\u2019t just confined to the classroom, and 51 per cent <a href=\"https:\/\/www.forbes.com\/sites\/sievakozinsky\/2017\/07\/24\/how-generation-z-is-shaping-the-change-in-education\/#167799526520\">think<\/a> that \u201cthey learn best by doing.\u201d<\/p>\n<p>AI teaching assistants, adaptive learning platforms, and AI-based student advisory services are therefore some of the ways higher education might accommodate those trends. These tools could help students receive personalised education that suits their skills and preferences, <a href=\"https:\/\/theconversation.com\/five-ways-artificial-intelligence-will-shape-the-future-of-universities-94706\">instead<\/a> of the \u201ctraditional model of \u2018one module guide for all\u2019\u201d. And as the pace of change <a href=\"https:\/\/theconversation.com\/five-ways-artificial-intelligence-will-shape-the-future-of-universities-94706\">intensifies<\/a>, it won\u2019t take too long before \u201cuniversities may well have changed beyond all recognition\u201d.<\/p>\n<h2>Smart algorithms will continue to transform the economy<\/h2>\n<p>AI has been growing by leaps and bounds in the past few years, and the use of this technology is what often separates winners from losers in today\u2019s economy. Smart algorithms have transformed a number of industries, from manufacturing and agriculture to retail and healthcare, and as we move into 2019, knowing which trends will shape the future of artificial intelligence will only become more important. Companies are therefore well advised to not only keep refining their AI software, but also to focus on acquiring quality data. Also, it\u2019s important they don\u2019t miss out on using cutting-edge AI chips and applying lessons from sectors such as healthcare and higher education.<\/p>\n<p><iframe title=\"2019 AI Predictions: Six AI priorities you can\u2019t afford to ignore\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/Ykv4O05drBo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Next year will be the year when AI increasingly <a href=\"https:\/\/www.pwc.com\/us\/en\/services\/consulting\/library\/artificial-intelligence-predictions-2019.html\">moves<\/a> \u201cfrom the lab to offices, factories, hospitals, construction sites, and consumers\u2019 lives\u201d. And as executives seek returns on their AI investments, it\u2019s important to keep the bigger picture in mind and integrate this tech with other technologies like blockchain, the IoT, and big data analytics. That way, businesses can exploit the full potential of AI and monetise it in various ways by innovating products, achieving cost savings, and improving customer experience. PwC, a consulting and tax services firm, <a href=\"https:\/\/www.pwc.com\/us\/en\/services\/consulting\/library\/artificial-intelligence-predictions-2019.html\">concludes<\/a> that in 2019 \u201cAI will need its own organizational structure and workforce plans; trustworthy algorithms and the right data to train those algorithms; a plan to reinvent the business to grow revenue and profits with AI; and convergence with other existing and emerging technologies.\u201d This is an ambitious set of goals, but achieving them is critical for remaining competitive in the modern economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Data is a hot commodity Powerful chips will help AI operate faster A move to end \u2018black box\u2019 AI AI is taking care of our health Universities are getting an AI-powered makeover Smart algorithms will continue to transform the economy The rise of artificial intelligence in the past few years has transformed the way we [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":51092,"parent":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[2870],"tags":[4958,4629,4571,4787],"article-type":[],"trends":[5485],"class_list":["post-58041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-smart-algorithms","tag-technologie-en-2","tag-technology-en-2","tag-university","trends-artificial-intelligence-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top AI trends that shouldn\u2019t be overlooked in 2019 - Richard van Hooijdonk Blog<\/title>\n<meta name=\"description\" content=\"AI has impacted large parts of our lives, and to help companies keep up 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