The use of AI is constantly growing as more and more companies are becoming aware of the benefits it can provide to different sectors and industries. Research confirms that more than half of the businesses that have implemented AI have reported an improvement in their productivity later on.
Let’s have a look at the top 4 Artificial Intelligence (AI) trends in 2021.
Top 4 Artificial Intelligence (AI) trends in 2021
Read down below to find out more about artificial intelligence future.
- AI and Martech
‘Martech’, otherwise known as marketing technology, is a term that is used to define the tools and techniques that marketing firms use to optimize their digital marketing operations.
As technology is becoming more advanced, and AI is getting more sophisticated, software engineers and data scientists are coming up with new and effective ideas on ways to apply it in business areas to enhance efficiency and automate business procedures.
Majority of firms and companies are using AI automation in some sort or form to enhance their marketing strategies. According to Forbes, 21% of sales leaders rely on AI-based applications today, with the majority collaborating with marketing teams sharing these applications.
AI is transforming the world of marketing. Today, AI tools such as CRM platforms, Chatbots, Google Analytics can be found on almost every other ecommerce website. Also, AI-based technology such as cookies and web beacons, IoT, Third-Party Trackers and wearable devices are used to collect data on customers which is further used to study and analyze consumer behavior.
Overall, we can expect to see a sharp rise in the use of AI in marketing this year.
2. AI and Healthcare
The Coronavirus pandemic has severely affected some countries and their healthcare systems have reached the point of exhaustion. The need to treat Coronavirus affected patients has led to diverted attention of doctors from patients that are facing other diseases and illnesses, and require urgent treatment.
AI in healthcare can potentially be a life-saver in times like these. Automation in hospitals can help carry out tasks such as patient diagnosis, medical record evaluation, smart billing and more to balance the work load on healthcare providers automatically. Moreover, AI can also help in caring for patients remotely by monitoring their information through sensors.
Though the use of artificial intelligence in healthcare is not new, its use in 2021 is expected to increase, with smaller healthcare companies also leaning more towards implementing AI-based system in their daily operations.
According to stats, growth in the AI health market is expected to reach $6.6 billion by 2021.
3. AI and Cybersecurity
Cybersecurity has been a growing trend since the past few years. As the number of cyberattacks is increasing, so is the need for proper implementation of cybersecurity; in both small and big organizations.
These attacks are expected to further rise in 2021, especially ransomware, which is a malicious software that locks your computer until you pay the hacker.
Losing the sensitive data that your organization holds to hackers can cost you millions of dollars. Stats show that the average cost of a data breach as of 2020 was $3.86 million, and the average ransom payment was around $111,605.
Another big hit that companies take while facing cyberattack issues is that they lose customer confidence, which not only results in financial losses but also a bad reputation.
Luckily, more and more companies are now realizing how critical it is to implement cybersecurity measures. AI-based tools for cybersecurity can help organizations enhance their security posture, reduce breach risk and avoid potential hacking and security threats more effectively.
We can definitely expect to see more industries introducing AI-based cyber security measures as a compulsory element in their operations in 2021.
4. AI and education
AI advancement in education sector has provided immense benefits for both teachers and students. Nowadays, AI and machine learning are allowing teachers to tailor the teaching content in a specific manner to make concept easier for students to grasp.
One of the best things about use of AI in educational software development is that it has put forward the idea of tailored education. Since AI is quite popular for learning human behavior, it can learn from our online or in-app movement and determine the method of learning that works the best for us.
With majority of educational practices going online due to the ongoing pandemic, we can definitely expect to see an increase in the use of AI applications in the education sector in 2021 and the coming years.
According to Market Research Future, AI in the education market is supposed to reach USD 2 billion by 2023 growing at 38% CAGR in the forecast period 2018–2023.
The benefits of AI applications are enormous and can revolutionize any professional sector. These are only a few of the Artificial Intelligence (AI) trends in 2021 that we can expect to see a rise in this year and the coming.