Artificial Intelligence (AI) is growing faster than we all think

September 14, 2021 | 4 minutes read

Gartner the worlds leading research and advisory company identifies four trends driving the near-term Artificial Intelligence Innovation.

Gartner, Inc. in its recent research identified the four trends responsible for driving artificial Intelligence (AI) innovation. Presenting the prediction that the utilization of artificial intelligence (AI) is going to increase exponentially in the coming years.

 The four trends discussed by the company are given below:

  • Responsible AI
  • Small and Wide data Approaches
  • Operationalization of AI
  • Efficient use of Data

Indubitably, the advances in AI have had their application in the management to optimization of results in various sectors like optimization of marketing and sales processes, biomedicine, personalized medical attention, information recommendation, and opinion analysis, etc. Keeping in view all of these applications, the AI market is anticipated to reach $267 billion by 2027. 

ai-changing-future
Image Credits: ZDNet

Consider this or not, but the wide range of applications of  Artificial Intelligence in eCommerce, healthcare, and education has made it an active agent in sculpting our society.

Gartner analysts Shubhangi Vashisth and Svetlana Sicular wrote the report and identified these four AI megatrends. So below are these four trends:

  • Responsible AI:

One of the reasons AI innovations are increasing exponentially is because of the fairness and transparency they offer in their operations and functions. Research Vice President at Gartner Svetlana Sicular also opined that the fairness and impartiality is the key reason behind the growth of AI technology. Due to these distinct characteristics, AI is growing fast among the stakeholders of various industries.

She further adds that:

“Responsible AI helps achieve fairness, even though biases are baked into the data; gain trust, although transparency and explainability methods are evolving; and ensure regulatory compliance, while grappling with AI’s probabilistic nature.” 

Gartner however also points out that by 2023, all the personnel hired for the Artificial Intelligence (AI) training and development will have to portray relevant expertise in responsible AI.

  • Operationalization of AI platforms:

Another key reason presented by Gartner for the increase in Artificial Intelligence (AI)  is its ability to solve enterprise-wide problems. Svetlana Sicular in this respect said:

“Innovations such as AI orchestration and automation platforms (AIOAPs) and model operationalization (ModelOps) are enabling reusability, scalability, and governance, accelerating AI adoption and growth.”

Technology all around the world is transforming the various sectors of society. Furthermore, the enhanced ability of AI in managing and doing tasks efficiently is one of the key factors behind the operationalization of AI platforms. Consider this or not but the businesses all around the globe do rely on Artificial Intelligence (AI) for the progress of their business.

  • Efficient use of Resources:

The development of AI technologies is also driven by the complexity and quantity of the data. Other than this, the compute resources involved in AI deployments, and AI innovations require such resources to be utilized at maximum efficiency.

Gartner’s article elaborates that composite AI, generative AI, and transformers are securing visibility in the AI market for their potential to resolve various business problems with more efficiency and efficacy.

  • Small and Wide Data:

In this data-driven world, almost every sector relies on the data of the users or customers. Data undeniably has become an integral part of our society that is built on the edifice of information and technology. Because the insights obtained via data analysis aid in designing future strategies on the premise of the predictions. And according to Gartner, the data forms the foundation of successful AI initiatives. 

Furthermore, the company points out that the small and wide data approaches allow more powerful analytics, and the rise in AI technology might increase the applications of small and wide data too in the future. In this respect, Sicular states:

“Small data is about the application of analytical techniques that require less data but still offer useful insights, while wide data enables the analysis and synergy of a variety of data sources. Together, these approaches enable more robust analytics and help attain a more 360-degree view of business problems.” 

Artificial Intelligence Growth :

According to Gartner, the Artificial Intelligence market is in an evolutionary state, with a large amount of  AI innovations appearing on the “upward sloping innovation” Trigger.  You can view the graph here

This highly indicates the market trends of end-users who require specific technologies that are even beyond the current capability of AI technology.

Gartner is right in pointing out that these trends are rightfully responsible for the increase in Artificial Intelligence  (AI) technology.  As the recent statistics also suggest the trend of usage of Artificial Intelligence is going to rise more with the market value of $190.61 in 2025.

 

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