Top 7 AI Trends That Will Transform Businesses in 2023

As we welcome in 2023, businesses across the world are gearing up to unlock their potential with the newest trends in artificial intelligence (AI). AI is quickly becoming an integral part of our lives; from autonomous driving and smart homes to healthcare and finance, AI technology is transforming how we interact with our environment. In this blog post, we will explore the top 10 AI trends that will be revolutionising businesses in 2023. From predictive analytics tools and natural language processing to computer vision and blockchain technologies, these trends are sure to open up new possibilities for any business owner who wants to keep their company competitive in an ever-evolving digital world.

Top 7 AI Trends to Watch Out For in 2023

1. Creative or Generative AI:

Generative AI is a sub-field of machine learning that aims to produce new content or data using an existing data set. This cutting-edge technology is changing the way we think about the world we live in. With the help of deep learning algorithms, generative AI is capable of learning complex patterns and features in any given data set. From code and text to images, audio, and video, the potential applications of this technology are limitless.

In fact, San Francisco-based AI research firm OpenAI has already produced some remarkable examples of generative AI that are in high demand across numerous industries. As we continue to explore and develop this technology, we can only imagine the possibilities that generative AI will unlock in the future.

Generative Pre-trained Transformer 3 (GPT-3)

Developed in 2020, GPT-3 is a language prediction model which “autocompletes” text after studying millions of web pages and scientific papers on the Internet. GPT-3 has 175 billion machine learning parameters and is the largest language model ever created. The technology has been used to power virtual assistants, chatbots, website creation tools, customer service bots and more.

ChatGPT

ChatGPT is a bot version of GPT-3 that made its debut in November 2022. This AI-powered chatbot uses natural language processing to understand and respond to user queries. ChatGPT is capable of handling customer service inquiries, product recommendations, personal conversations, and even advice.

2. Greater AI-human Collaboration:

We are entering an age where AI is no longer a standalone technology but one that works in tandem with humans. As AI continues to evolve, the need for better collaboration between machines and people becomes increasingly important. AI-human collaborations will be essential for tasks such as data analysis, decision making, and customer service interactions. Companies are already leveraging this technology to automate mundane tasks and free up valuable resources for more creative or analytical endeavours.

Cobots will be more widespread in these fields:

• Automobile Manufacturing
• Agriculture
• Healthcare
• Defence System

3. Ethics and Regulation

The emergence of generative AI brings many benefits to different industries, but growing concerns arise about its potential misuses. One of the most alarming concerns is the production of deep fake videos, which cybercriminals can use to commit various fraudulent activities. With these AI tools, scammers can slander, blackmail, coerce, or extort anyone with no tangible evidence. Additionally, there are questions about the boundaries of original and proprietary content, making transparency, safety, and responsible practices more critical than ever before.

The New York City Department of Consumer and Worker Protection has already introduced an AI Law (New York City Local Law 144), requiring employers to meet bias audit requirements before using automated tools for evaluating job applicants. This further emphasises the importance of safety measures when using these innovative technologies.

As early as 2021, the proposed legislation brings to light the urgency in regulating AI as it continues to evolve and advance at an unprecedented rate. Once approved, the AI Act will act as a counterpart to the General Data Protection Regulation and may serve as a valuable tool in ensuring the ethical and responsible development and use of AI technologies.

4. Democratisation: Low-code, No-code AI

Just like the incredible advancements of the AI, low-code and no-code tools are also making it easier for people to build and deploy automated solutions with minimal learning. Low-code and no-code platforms allow anyone to quickly develop sophisticated applications without the need to master a programming language. This democratisation of technology pushes generative AI into the hands of the people, enabling them to create new applications and services without relying on expensive resources.

The availability of these tools will drive the development and deployment of AI-driven solutions in different industries, from healthcare to retail. This is set to unleash a whole new wave of innovation from everyone around the world.

Because IT modernization using low-code, no-code tools costs 70% cheaper and gets completed faster (as short as three days) than traditional methods, 66% of developers already use (39%) or plan to do so (27%) in 2023. Meanwhile, Gartner forecasted that by 2026, “citizen developers”— or those who did not take formal coding courses—will make up 80% of low-code tool development users.

5. Sophisticated Cybersecurity 

The rapid advancements of AI technologies have also created a need for stronger cybersecurity solutions. As AI-driven digital transformations offer unprecedented opportunities for businesses, they can also become targets of malicious hacking attacks. AI-based security systems such as computer vision and natural language processing are key mechanisms to protect against cyberattacks.

Machine learning algorithms can be used to detect potential threats and malicious activities faster than ever before. Additionally, they can also be used to proactively identify any weaknesses in existing security systems that might put the organisation at risk.

Overall, these AI-powered solutions will help organisations stay ahead of cybercriminals and ensure the safety of their digital assets from hacks or data breaches.

6. Digital Twinning 

In today’s world, technology has revolutionised the way we live and work. The introduction of digital twins is one such innovation that has transformed the way we design and simulate products. Essentially, a digital twin is a digital replica of an object or process in the physical world. With the help of advanced machine learning algorithms, industries can now simulate and predict how a product or system will perform.

The Omniverse platform of leading GPU manufacturer NVIDIA is an example of digital twin technology. Here’s how it’s helping the following companies:

BMW

Germany’s BMW Group has embraced the power of the Omniverse as its virtual factory. This innovative platform integrates data from various design and planning tools from different manufacturers to create realistic simulations in real-time. Through this virtual space, staff from different locations and time zones can access and plan details of production processes on demand, without the need for physical travel. Impressive, right?

The Omniverse simulates all of BMW’s 31 factories, including its human associates and factory interiors, assembly parts, and robots. This efficient approach has provided BMW Group with a cost-effective solution and enhanced production capabilities, ultimately setting a benchmark for the wider automotive industry.

Lowe’s

Lowe’s Companies Inc. has taken a unique approach to upgrade its shopping experience by utilising the power of Omniverse. With the inclusion of Washington and North Carolina stores in the Omniverse, employees can interact with the simulation using their computers or Magic Leap 2 augmented reality headsets. This technological marvel enables personnel to easily restock shelves, reconfigure store layouts, view product information from closed boxes on hard-to-reach shelves using “X-ray vision,” and optimise the customer experience with 3D heat maps indicating customer traffic and sales performance.

7. AI in Voice Technology

Voice biometrics: Voice biometrics is one of the most popular applications of artificial intelligence in voice technology. This method uses machine learning algorithms to identify and authenticate a user’s voice to confirm their identity or grant them access to certain services.

This technology can be used for a variety of purposes, from recognizing customers over the phone to authorising payments in banking applications. By using voice biometrics, businesses can improve their customer experience and create a more secure environment for transactions.

Voice assistants: Voice technology can also be used to develop virtual assistants that will help users with tasks like setting reminders, playing music, or searching the internet.

Amazon Alexa and Apple’s Siri are two examples of popular voice assistants that are powered by artificial intelligence. These virtual assistants can understand and respond to spoken commands and interact with users in natural language. They can also provide personalised services based on user preferences, making them an invaluable tool for businesses.

Voice cloning: Voice cloning is another AI-powered application of voice technology. This method uses deep learning algorithms to imitate a person’s voice with amazing accuracy.

Voice cloning can be used for digital assistants, customer service applications, or gaming and entertainment experiences. With the help of this technology, businesses can create personalised virtual avatars that will interact with customers more naturally.

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Conclusion:

AI is revolutionising the voice technology industry by providing more efficient and secure solutions. From voice biometrics to virtual assistants and voice cloning, businesses can now provide customers with improved services and personalised experiences. As this technology continues to evolve, we are sure to see even more amazing applications of AI in voice technology. Contact us today to learn more about how our services can help you stay ahead of the competition.