Deloitte Insights: The expansion of AI

Deloitte Insights: The expansion of AI

Artificial intelligence (AI) has been associated with mainly early adopters with strong IT infrastructures and big finances.But it seems like it`s

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Artificial intelligence (AI) has been associated with mainly early adopters with strong IT infrastructures and big finances.

But it seems like it`s not really the case anymore as AI becomes more mainstream.

Deloitte Global predicts that in 2019 companies will accelerate their use of cloud-based AI services, according to Deloitte Insights.

What is AI?

AI consists of multiple technologies. Some of them are machine learning and the more complex deep-learning neral networks. Deloitte explains that it is these technologies that power AI applications like computer vision, natural language processing, and the ability to harness big amounts of data that could make accurate predictions and unearth hidden insights.

The excitement about AI is connected to the fact that it can improve operations, help companies develop new offerings, and provide better customer service at lower cost.

Pioneers in AI

AI`s benefits have been exploited by big technology companies that have tremendous financial resources and have set a goal to acquire scarce and costly data science skills. Such companies have the resources to engage in bidding wars for the expensive and rare talent in the sector. These companies have invested billions in infrastructure like data centers and specialized processors. Here`re some examples, as provided by Deloitte Insights:

  • Google has designed its own AI-specific chips in an effort to advance machine learning in its data centers and on IoT devices. Some of the latest moves of the company are the exploration of deep learning since the launch of Google Brain in 2011, and the use of many technologies, everything from performing video analytics to cooling data centers.
  • Amazon has used machine learning to drive recommendations. The company is also using deep learning to redesign business processes and develop new product categories like the virtual assistant, Alexa.
  • China`s BATs, Baidu, Alibaba, and Tencent, are reportedly putting a lot of money into AI while expanding into areas like chip design, virtual assistants, and autonomous vehicles.

What`s next for AI?

Here`re some of the predictions that were made by professional services company Deloitte and its Deloitte Insights department:

  • Deloitte Global predicts that by 2020, penetration rates of enterprise software with integrated AI and cloud-based AI platforms will reach an estimated 87 percent and 83 percent among companies that use AI software.
  • The cloud will drive more full-scale AI implementations, better return on investment (ROI) from AI and higher AI spending.
  • When it comes to lack of skills, 41 percent of early adopters said they had a “moderate” skills gap, with an additional 27 percent calling their skills gap “major” or “extreme”. The skills gap was most acute for technical roles like AI researchers, data scientists, and software developers.

The full report is available here. Do you have any personal predictions about AI? Share them in the comments.