2020 was quite a difficult year for every sector. During this period, it is hard to clarify the predictions and expectations for the future.
However, everyone agrees that a data-driven strategy must be adapted in order to survive in the business world. In this adaptation process, the first step is the integration of powerful data analytics and artificial intelligence systems.
The leading experts of industry such as Gartner, Forbes and Forrester agree on the rise of artificial intelligence technology. Gartner’s forecast for 2021 actually reveals the importance of the issue clearly: “By the end of 2024, 75% of organizations will shift from piloting to operationalizing artificial intelligence (AI), driving 5 times increase in streaming data and analytics infrastructures.” This means that AI integration, will accelerate by the year of 2021 and each sector will benefit from the guidance of AI in line with their own purposes. It will become widespread to manage processes such as finding opportunities, noticing probable future problems and expenses, discovering new markets and forecasting consumer behaviour with AI based systems.
Forbes, one of the pioneers of the industry, published the research on “Emerging Technologies that will Change the World” in December 2020. In these technologies, it is possible to capture that many of them are based on AI. Besides, AI itself is already on the list.
For instance, embedded business intelligence (EBI) is at the top of the list. This technology is defined as the simplest integration of business intelligence systems into daily used applications. AI systems form the basis of EBI to access appropriate information and make predictive analysis. Likewise, augmented analytics is also on the list. This technology defines the system that analyses the data with AI and machine learning (ML) applications. System aims to get results-driven output by enabling users to interact with the data. Machine learning which is an AI application is on the list as well. ML is defined as an AI application that allows the machine to learn on its own without explicitly programming and without our continuous supervision. It provides the system with the ability to learn and improve itself automatically from experience.
Let’s continue with the study by Gartner, one of the pioneers of the industry. As we mentioned, Gartner stated that AI applications will underlie almost all business operations in the next 5 years. Gartner defines the developing data analysis trends which will accelerate the renewal process after COVID-19 Pandemic for data and analysis leaders in detailed. As we accepted, “Smarter, Faster, More Responsible AI” is at the top of the list in this research. Pandemic, of course, has an impulsion on this development process. Machine learning and natural language processing (NLP) which are the technologies based on AI were used to monitor the spread of virus. To have more information on this topic, you can read our “The Importance of Big Data Analysis During COVID-19 Pandemic” article. Decision intelligence also takes part in trend technologies as an artificial intelligence-based technology. Briefly, DI is defined as the technology that supports the designing and performing of decision models and operations in the context of business results and behaviours.
We will explain further the technologies we mentioned above in detailed. By following us, you can get more information.
With all these examples, we would like to indicate that many future trends are actually based on artificial intelligence technology. Leading resources agree that all firms manage up to 80% of their operations through AI-based system regardless of sector in the near future.