With the dawning of this digital age, machine learning and artificial intelligence are continuing to enter the mainstream. The impact of it is being felt in everything from trade and finance to medicine and agriculture. Larger and newer models are coming into existence. For example, the GPT-3 is a hundred billion parameter model for NLP or natural language processing. A trillion-parameter one is also in the process to write, analyze, do translations, and even write poetry.
The models that are being currently used for image generation and recognition have gone through major improvements. We can also observe how the structure of one model can be moulded to solve different issues. The codes that power NLP can also be used for research in the biomedical field. An impressive case appeared earlier this year when biomedical researchers used a language model to predict mutations in the virus. That was the key information that made possible the creation of some of the pandemic vaccines.
Here are the trends experts believe will be seen in the progress of AI in 2021.
AI in biomedical and healthcare
Thanks to the digitization of genetic code sequencing tools the Covid-19 vaccines have developed in mere days. With AI, new mutations in the virus can be predicted, quickening the vaccine developing procedure even more.
It is needless to say that AI and ML cannot take the place of researchers and clinicians. Instead, they allow professionals to work quickly and speed up testing hypotheses. They do not have to wait for the cells to culture and grow physically. The study can instead happen rapidly through digital simulation.
AI is also extremely useful as a diagnostic tool. It is now been approved for reading X-rays and can diagnose Covid-19 by the sound of a patients cough. The number of people who wear heart rate, blood pressure, and other devices rises higher. Which can give physicians a better insight to the condition of a patient. Diagnoses can become more accurate as doctors will no longer be relying on the patient’s recollection.
E-commerce will boom through AI
Over the past year, online commerce has seen immense growth which is expected to continue on increasing. Covid-19 restricted people into spending long durations of time online. Not just for shopping but also for work meetings, entertainment, and accessing social media and other apps. The number of digital journeys taken by the public has grown. Which resulted in generating more data to help understand consumer behaviour.
But the greater number of data increases complexity. In the old days, if a business would pay for a radio or TV ad to reach a larger audience. Today there is more than one effective channel for reaching the target market. Reaching a potential customer on the right platform and time is humanly impossible. But AI can overcome these limitations.
In the future, AI is expected to become vital in generating customer insight that marketers are on the lookout for. It will also be used to generate highly creative content for potential consumers. This way customer engagement rate will be improved. For instance, an online business such as an essay editing service can benefit a great deal from it. Marketers also find a source to effectively make and assess various content at a pace previously unthinkable.
Finance will also rely on AI
The main function of AI in the financial industry is in high-frequency trade. This way transactions can be conducted through machines quicker than people can manage. The practice will continue in traditional modes of finance along with the world of cryptocurrency.
AI is being used by investors to make predictions based on long-term goals. They were centred typically on measures like revenue, income, and profit. However, that is more of a challenge when it comes to cryptocurrency.
While high-level strategies in trade are essential to implement, there is another issue that is even more challenging. Much of the cryptocurrency industry is driven purely by human behaviour. While the AI models of today struggle to handle this, the future can bring improvement and better understanding. Being able to accurately predict behaviours can help further monitoring social and media networking.
AI’s role in the educational sector
Textbooks and syllabuses cater to a large number of students in general. The material comprises of the same learning methods to be implemented on all students. Experts point out that this “conveyer belt” educational model doesn’t include seeing to the needs of individual students. Nor are their unique abilities are developed and nurtured.
AI is an effective way to revolutionize curriculum creation and delivery. Students can be tested and given challenges according to their skills and skillset. The program would be able to monitor student progress and modify itself according to their specific learning requirement.
With the myriad of content available online plagiarism has also become a major issue. But with AI, instructors can easily detect copied work submitted by a student. Students can also reach out to high-quality essay writing service for papers that are free from plagiarism. This can lessen a lot of academic stress and maintains the student’s focus and interest in learning.
Smart factories and agriculture
Farms and factories are also using innovative methods nowadays. But they are different from several other AI applications as their focus is not upon end-users. Instead, their top priority is machines, products, and products. This needs investment in automation, sensors, robotics, and optimized operations.
The biggest prediction to be made about AI in 2021 can be summed up by the word “leverage”. The existing AI model frameworks can be combined with others to create better versions of themselves. A generalization of AI models is also in progress so the same applications can work within various fields. The impact of artificial intelligence is expected to grow and prosper into much more efficient functions. We can only marvel at how far it can go to accelerate digital transformation across all sectors of life. Through AI the dawn of a truly futuristic human civilization is waiting to happen.