Isaac Asimov, robot and science fiction writer, predicted in his novel I, Robot in 1950, that robots and artificial intelligence would be banned from the earth in 2030. Instead we see huge progress in AI and this is likely to continue within the next decade.
The UK investment in AI has recently reached a record high for 2019, from $ 1.02 billion for the whole of 2018 to $ 1.06 billion in the first six months of 2019. In addition, the new President of the European Commission, Ursula von der Leyen, recently called for the introduction of a GDPR-like scheme for the use of AI, which indicates the predicted mass distribution of technology among companies in different sectors.
There are several facets of AI, all with different applications and possibilities, and one area in particular that attracts a lot of attention is Intelligent Automation. Intelligent Automation (IA) combines artificial intelligence, including natural language processing, digital personnel management and machine learning with automation.
This branch of technology currently has an expected market growth of $ 14.4 billion in 2024, compared to $ 8 billion in 2019. IA that exploits the potential of fractal science will be an important branch of AI that can help companies solve unstructured data challenge. It will essentially enable companies to process not only structured data but also unstructured data and given that by 2025 this type of data will make up 80 percent of all business data, more companies will be looking to use IA with fractal science for their business processes. AI technology such as deep automation tools, including Integrated Automation Platforms (IAP), will soon become the go-to-business processing tools.
AntWorks predicts that in the coming decade it will be difficult to find an industry that does not use AI to intelligently automate business processes. With countless use cases for AI in all industries, here are our predictions for 2020 and beyond.
Automated workforce and services
In most cases, companies in all sectors are confronted with a relentless demand for customer convenience. This is certainly characterized by the increase in the use of chat bots in some sectors. It is clear that the consumer cannot cope with the idea. 40 percent of consumers are not worried about whether a robot or human will help them, as long as the experience is positive and their problems are being solved. However, automating customer service functions can jeopardize jobs or require a change in the skills of human staff. Companies must integrate continuing education programs into their digital transformation strategies to truly realize the value that comes with bringing together human and digital workforce.
AI to promote supervision
Public safety and security is very high on the agenda for most governments in the world. that is why we are likely to see an increase in the use of computer vision technology as a form of surveillance over the next decade. However, an important challenge on the horizon for governing bodies will be the ethical implementation of this technology. In 2019, Dawn Meyerricks deputy director of technology development CIA confirmed that the organization has 137 ongoing AI projects, including a computer vision solution capable of identifying and tagging objects or people in real-time video recordings. These findings would then be signaled to the surveillance team for further analysis.
According to Meyerricks, the CIA is also working on an AI solution that can predict important future events through trends and shifts in data analysis so that they can prepare for them. While the latest cases of using AI technology are positively consistent with public safety, it cannot be excluded that this technology can be used for more sinister activities. This concern naturally reinforces the need for organizations to address security issues and the responsible use of a further effective and promising new AI security capability.
AI and ethics: the debate continues
Ethics regarding the use of AI in different industries will be a hot topic in the course of the 2020s. AI has the potential to solve some of the world's greatest challenges and improve the quality of our personal and professional lives. Yet there is a real risk that AI will fall into the wrong hands. From use for political fixation to corporate espionage, there are countless dangerous ways in which offenders could use the technology for ulterior motives. Calls have already been made to regulate and standardize AI and this will continue to be the case in the future. This means that increased investment and the desire to expand AI regulation in all sectors is likely to lead to greater consequences for those who do not comply with the rules.
The success of using AI forever depends on trust, and that trust can only be built up over time with the utmost compliance with ethical principles and practices. If we struggle ahead in the coming decade, we can only see AI and automation conquering the world of business if it is arranged in a smart way. This starts with encouraging further progress and innovation of technology, which means regulating applications rather than the technology itself.
Governments must provide a framework to ensure protection against malicious use of AI. This means that we will hopefully gain greater responsibility and liability from large organizations in delivering any form of advanced AI technology in a way that is both responsible and ethically responsible.
AI in healthcare grow exponentially
Drug discovery and testing is an expensive affair. In fact, any new drug development program can cost around $ 2.6 billion. Given the increasing resistance of diseases and the emergence of superbugs, it is starting to be a race against the clock for many large pharmaceutical companies to bring new medicines on the market. AI can speed up drug testing processes.
The complexity of the molecular composition of drugs means that finding data about new combinations for a particular drug can be difficult because the combinations are numerous. That is why a lot of work is being done on studying research data on genes, molecular structures and other biological information. Processing this large amount of data can be very difficult and time-consuming for a person, so intelligent automation platforms are needed to process and analyze this catalog of data much faster using multi-tenancy bots and deep learning algorithms. This will not only speed up the time it takes to bring medicines to the market, but it will also save pharmaceutical companies billions in revenue.
Another use case for intelligent automation in healthcare is at the front line. Currently, half of the time spent by doctors is on electronic health records (EHR) and paperwork. The use of AI to process patient data will not only allow doctors to see more patients per day, but the data that AI can provide will also ensure a faster and more effective diagnosis of the patient.
AI technology has exceptional potential and is expected to offer promising opportunities in all sectors over the next ten years. The expected growth means that organizations will have to continue to tinker with their digital transformation strategies to enable the effective use of AI. Above all, AI and machine learning will soon determine the fate of many companies as markets become increasingly saturated.