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Here's What We See in AI for the Rest of This Year Featured

Here's What We See in AI for the Rest of This Year "Look"

Keeping track of the latest advances in artificial intelligence (AI) may be difficult for ordinary people. However, for a business leader, it is a good thing to do despite the challenges you can encounter because learning how new developments can transform the business landscape in your industry can open your eyes to potential opportunities you can invest in. It is no secret that AI is changing the business landscape in many ways. Thus, there is a need to carry out activities such as measuring the return on investment (ROI) for investing in a given AI application on business. As the end of the year comes closer, here is what we see in AI for the rest of this year.

  1. AI will converge with data and cloud- and demand a new approach to management

Big data alone is not enough to create a difference in today's competitive environment. Rather, it must be organized before being used. AI can do these things. Investing in AI to help in this area can pay off only if an application is developed to help work on data 24 hours a day, every day of the year. With this capability of AI, cloud computing can easily adjust to changing storage needs. This is the reason why top companies are investing in the cloud for the management of their data. With AI and cloud proving to be an amazing pair for businesses, leading companies are significantly increasing their investment in these areas. This will continue towards the end of this year and beyond.

  1. AI will help in finding, using and monetizing data

Data is a raw material for artificial intelligence. However, in the past, you had to collect, curate, confirm, standardize and label the data so that AI could use it. However, this is changing. The procedure is what is viewed as the thing that holds back AI. AI has evolved to the extent that it is turning data that was once regarded as "messy" and unstructured into something that can be used to make decisions. AI can be used to collect data from various sources, turn unstructured data into useful information, and confirm and standardize it for easy use and to govern.

  1. AI will be assessed and forecasted based on its full value, not just cost savings

There are many advantages to investing in AI. However, it is often challenging to ascertain the technology's return on investment because it is still evolving. Fortunately, there are new assessment methods that can capture the "hard" returns and costs, like increased productivity and hardware costs, and "soft" returns, like improved employee experiences or demands on specialists' time. This has been problematic in the past because it was difficult to assess the value of AI.

  1. Human augmentation will play a critical role

There is a misconception that AI has taken over many areas, such as online advertising, innovation, and other applications. While AI has entered many areas of our lives, there is still a huge gap that needs the human touch to experience efficiency. Over 90 percent of human touch is still needed in many areas where AI has been adopted. Although AI can do many things autonomously, there must be someone behind the scene to check the output and make the final call. Humans will play a crucial role in AI adoption now and in the future, even as this technology advances as we seek to deploy it in many other areas.

  1. AI will be an important area for AI specialists to govern

Governing AI comes with special challenges, considering it is a fast-advancing technology that inputs new, sensitive data while being adopted to make critical business decisions. With the sensitivity of this technology, governance teams may not have the requisite skills and business and technical skills to keep up with the speed of changes. As such, AI governance will continue to be challenging and require a new and advanced approach.

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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

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