Artificial Intelligence (AI) continues to be a powerful change catalyst for global industries and businesses as we edge deeper into our digitally transformed society. Global spending on AI by businesses and governments is expected to reach over $500 billion in 2023. As AI evolves, so do the industries it powers.
From voice assistants to video recommendations and binary artists – and everything in between – AI is impacting every aspect of our daily lives. Therefore, it is important to be aware of just how these new tools and technologies are able to benefit us.
While you might be familiar with many items on this list, they have been included because of how much they have evolved in recent years, and how much of a role they play in powering our digital world.
Alternatively, some items will likely be new to you, indicating just how quickly the AI industry evolves and penetrates new markets and industries.
Here is our list of the most interesting AI trends to look out for in 2023.
Similar to low-code/no-code development for websites or applications, low-code and no-code AI systems allow users to drag and drop their way to create smart programs and systems. By combining pre-built templates and modules, users simply need to feed the system with their own domain data to create a customised AI system tailored to their needs.
This democratisation of AI and IT helps businesses create AI systems quickly and affordably with a faster time to market and little risk/ROI ratio.
Creative AI or “generative AI” tools have become widely popular this year and will no doubt continue to amaze (and scare) us in 2023 with their creative capabilities. Creative AI algorithms use existing images, video, or sounds to create new visual content. Although AI has been able to produce creative content like music, art, and literature for a few years now, it has recently levelled up its ability to mimic human creativity and expression through art.
Famous examples are AI image generators such as DALL-E 2, DeepAI, and Deep Dream Generator which are used to generate unique images from a few written prompts. Apart from generating random images, AI is now freely usable to everyone to generate written content, translate text, edit photos and images, make music, generate voice, and even voice-powered internet searches.
No doubt we will see businesses big and small utilising these creative AI tools to create content in 2023.
Gartner asserts that hyperautomation (or the process of automating everything that can be automated) is crucial for any organisation to keep up with the digital advancements of modern business practices.
In 2023, hyperautomation will continue to be the driving force of digital transformation with the aim to streamline processes to create higher efficiency, accuracy, and output. As the world continues to adopt digital technologies as drivers for innovation and growth, RPA is key in establishing a grounding to accelerate business processes in the years to come.
As complex IT environments and technologies continue to evolve, AIOps is used to improve key processes and tasks of an organisation’s IT operations through better analysis of large volumes and categories of data.
Using Machine Learning’s (ML) ability to gather and synthesise immense data chunks, organisations benefit from more accurate predictions that lead to better decision-making opportunities. Furthermore, this technology enables cross-team collaboration through the correlation of data, paving the way for end-to-end digital experiences across entire organisations.
The voice and speech recognition market is expected to grow from $11.2 billion in 2022 to $49.7 billion by 2029. The remote working revolution created a surge in smart speaker usage in homes and voice solutions aimed at improving business processes (i.e. voice in meetings and voice for business intelligence) will take centre stage in 2023.
Voice assistants will increasingly be tailored to specific business challenges and integrated with internal systems, such as CRM and business processes.
As private companies power AI’s advancements, the lack of governmental oversight has pushed the debate over the ethics of responsible AI to the fore. In 2023, we will likely see continued initiatives from global AI partnerships on how to leverage AI to battle against major global issues, such as climate change, and inclusion and diversity. Ethics will continue to play a major part in the stimulation of innovation and economic growth as more organisations realise the need for responsible tech. Fairness of algorithms and data transparency are issues that will need to be addressed this year as AI adoption is more widespread than ever.
2023 will continue to leverage AIoT – the smart combination of AI and the Internet of Things (IoT). AI’s ability to present actionable insights in real time will continue to drive the IoT to new heights by allowing it to perform actions based on the data IoT devices collect.
A major driving factor for this technology is the continued rollout of 5G which is already enabling faster transfers of large volumes of data across IoT devices. This will result in the increase of smart homes, offices, and cities powered by sensor-driven devices in 2023 as AI’s intervention in this tech allows for automated processes at a much larger scale.
As more of the world continues to embrace remote working models, 2023 will see AI being used for preventative cybersecurity initiatives. This is mainly due to the proliferation of workers’ personal laptops and computers being used to access organisation’s servers which open companies up to cyber threats.
Unfortunately, cybercriminals are using AI technology to bypass conventional IT security systems to infiltrate systems housing sensitive company and personal data. But AI also helps in the fight against cyber threats, and this year we predict more organisations placing more money into securing their data through the use of sophisticated cybersecurity technologies.
Personalised digital experiences have quickly become standard as users expect customised dealings with brands of all types, from banking to e-tail. This has led to a boom in advancements of Machine Learning (ML) and AI’s predictive capabilities which are helping businesses gather more user insights.
The accuracy of this tech will continue to evolve as users continue to expect more personalised touches at each digital interaction. Businesses will get a more complete picture of the personalities behind their users in order to predict and suggest products better, and consumers will appreciate far improved streamlined shopping experiences. The biggest improvement in this tech for 2023 will be businesses’ ability to achieve this kind of personalisation at scale.
The metaverse and Web3 movement is approaching and is poised to herald a new era of our digitally baptised future society. The metaverse is simply a persistent digital environment where users can work, play, and interact together in a virtual space. AI is powering the metaverse and will enhance our digital worlds to create continuously more immersive experiences.
With Meta’s all-in approach to investing in the metaverse (like combing social media with VR experiences), we will certainly witness more AI technologies and tools powering interesting possibilities in the digital worlds of tomorrow.
There you have it, our consolidated list of the most important AI trends to look out for in 2023. As some of these items are not entirely new, they have made significant progress in evolution in recent years. As the technology is finessed, so have the systems they benefit.
How many of these AI technologies is your business planning to use in 2023?
If you need tailored AI solutions to help your business make an impact in today’s technology-powered world, contact us to see how we can help.
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