Businesses are ready to tap into AI’s potential to drive their organizations forward. The question is no longer if they should use AI but when – if they aren’t already. As time progresses, so do innovations and technological developments.
According to Gartner®, the “AI Hype Cycle™ has more innovations with benefit ratings in the high to transformational categories, with no innovation having a low or moderate benefit rating.” Considering technology’s constantly changing landscape, AI’s place at the peak of Gartner’s benefit curve is remarkable.
Gartner’s Hype Cycle™ for Artificial Intelligence -2022 report states that AI innovations to watch over the next 2-5 years include “composite AI, decision intelligence and edge AI.” It is wise to pay attention to these technologies, as they will create significant advantages over competitors while remedying problems such as AI model fragility and scaling AI initiatives – initiatives that enable the design and creation of operational AI systems. However, recognizing AI innovations with practical business use will test business leaders and their teams.
This article looks at three innovations with business benefits worth attention over the next few years.
AI INNOVATIONS TO WATCH
This emerging technology has the potential to solve a diverse range of business challenges. Since composite AI mixes several analytical techniques like machine learning, natural language processing, computer vision, descriptive statistics and knowledge graphs.
Composite AI’s unified approach helps organizations solve complex issues and reduce costs by facilitating human-like decision-making, lessening the need for many data science teams and permitting users to obtain insights from small datasets.
Decision intelligence is an actionable specialty that improves the decision process. It matters because it will significantly impact business results and performance. Decision Intelligence connects business challenges and applies data science to reach appropriate solutions.
A domain using reasonably new technology, Decision Intelligence employs smart technologies to automate business decisions. As a result, businesses make the most of their data analytics, ML and AI.
The Hype Cycle™ report explains edge AI as “AI techniques embedded into IoT endpoints, gateways and edge servers, in applications ranging from autonomous vehicles to streaming analytics.” Since IoT systems are decidedly data-driven, they need Edge AI applications for on-site data processing.
AI algorithms are run and processed without first sending data to the cloud, which reduces turnaround time for results. Edge AI helps organizations scale operations to ensure higher productivity, accuracy and safety.
Furthermore, the Gartner® report, Hype Cycle™ for Artificial Intelligence, 2022 includes a separate analysis explaining the benefits rating, market penetration and maturity. For each product identified in the Matrix, there is a definition, why it is important, the business impact, the drivers, obstacles and user recommendations.
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Jaffri, A., & Choudhary, F. (2022, July 8). Gartner Hype Cycle for Artificial Intelligence, 2022. Stamford; Gartner. ID
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