AI trends and forecasts in business

‍How is technology developing?

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Before talking about new application scenarios, it is worth considering the main areas of AI development. Their base is already being laid down today, but over time, these changes may become really large-scale, covering the entire digital market.

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Democratizing AI

The first step has already been taken: you've probably tested ChatGPT, Midjourney, and other generative AI models. If not, we recommend that you do it right now to assess the limitless potential of such tools.

But personalized AI, which is deeply integrated into workflows, remains only available to large businesses so far. Fortunately, things are already starting to change. Cloud-based AI platforms based on deep learning technology are emerging. They analyze the task as a person would: they split it into separate components and select the best methods for solving it.

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The future can give us truly universal artificial intelligence. It will be enough to tell him what you need, and he will adapt to the specifics of your business, increasing the level of productivity. We can only hope that such programs will not gain consciousness and become SkyNet.

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Local AI

Almost all of today's AI solutions are cloud-based. This increases the amount of resources available to them and makes it easier for the developer to maintain. But there are also disadvantages: any communication interruptions significantly impair interaction with AI. In addition, accessing the cloud creates a delay of tens of milliseconds to several seconds. In situations like asset price forecasting or customer support, this can be critical.

Therefore, Edge AI, that is, local AI, may become one of the trends of the future. Its program code is not in the cloud, but in the memory of a specific device. This artificial intelligence has several advantages: it is fast, reliable and controllable. You can train it yourself without the influence of other users. As a result, the tool will meet your specific requirements.

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Edge AI is one of the first steps towards the emergence of smart robots. Combine fast and accurate machine intelligence with robust mechanics and you have a tireless and infallible worker. If you think that AI can only take office jobs, then in the future you will have to reconsider your perception of the new technology.

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Understandable artificial intelligence

Do you know exactly how AI works today? Don't worry, approximately 99.5% of the world's population does not understand this. Interestingly, even developers can't give an exact answer. The main difference between artificial intelligence and algorithmic programs is that it learns and improves itself. After a while, the updated operating principle of AI may become unrecognizable even for its authors.

The opacity of artificial intelligence is scary and repulsive. Even worse, it makes it difficult to interact with him. Try to set a difficult task for ChatGPT — to achieve the desired result, you'll have to go through trial and error. Even an AI expert won't tell you how to get the answer you need the first time.

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Therefore, the development of comprehensible artificial intelligence (XAI) is becoming a new trend. It will become a kind of bridge between current AI and algorithmic programs. On the one hand, it will retain the principle of continuous learning, and, on the other hand, we will understand the principles of decision-making and will be able to predict the results of our requests.

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What does business expect from the next generation of artificial intelligence?

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It would seem, where to go next? AI solutions today increase productivity office workers by an average of 40%. And for developers and support staff, this figure is even more impressive — up to 88%. But experts say this is just the beginning. We will talk about how else artificial intelligence can affect business in the future.

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Hyperpersonalization

Personal discounts and special offers have been around for decades. But artificial intelligence is taking such marketing tools to a new level. It helps personalize every element of the customer journey:

1. Generates attractive messages in contextual advertising.

2. Rebuilds the site “on the fly”, adjusting pages to the needs and preferences of the visitor.

3. It studies the behavior of potential customers in order to offer them the best products at the best prices.

4. It creates bright conversion elements, motivating you to perform the target action.

5. Provides advice using text and voice chatbots.

6. It ensures the speed and security of financial transactions.

7. Provides post-purchase support.

8. It chooses the best time to contact again, stimulating new purchases.

Imagine that each of us has a personal manager, even when it comes to grocery shopping at the supermarket every week. This is very convenient, practical and flatters our self-esteem, making us feel like VIPs.

On the business side, hyperpersonalization is the secret key that opens all doors. Artificial intelligence can take online conversion to a new level, refuting the expression “You won't be good for everyone”.

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Predictive safety

Along with the digital segment, its dark side is also growing. In 2023, 5 to 14% of online transactions were somehow related to serious violations international regulations and national legislation. Their total losses exceeded $37.4 billion.

Despite all efforts to combat cybercrime, its volume is growing every year. Companies that suffer huge losses are forced to limit the amount of investment, including in the development of new technologies. Artificial intelligence may be a “new hope” in this area. It is used as follows:

1. To predict fraudulent transactions. It sounds like the plot of a famous science fiction movie, but AI can actually identify criminals by their behavior patterns: some of them have trembling hands and some are nervously clicking the mouse. At a minimum, a predictive system can warn a potential offender about liability. If he doesn't give up on his intentions, artificial intelligence will send a message to the security service.

2. To track sources of funds. The special services of most countries in the world have relevant units with thousands of people and billions of dollars in budgets. AI can be much more efficient, performing billions of calculations per second. Even if an attacker sent funds across the world, it would be possible to find their source in just a few days, rather than months or years.

3. To alert users. Anti-phishing systems are already available on many cloud productivity platforms, including Google Workspace. Artificial intelligence can also detect other violations, such as fake online stores, illegal bank cards, blackmail. It is likely that in a few years the “Trusted by AI” badge will be the same security symbol as the https prefix and the SSL certificate.

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Intelligent security systems minimize business risks, increasing investment volumes. They will not only reduce the expected losses from cybercrime, but will also reduce funding for our own security services. This will accelerate the development of companies and help them optimize their pricing policy.

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Intelligent search

While Google's first attempts to replace the traditional search engine with artificial intelligence made users laugh, businesses are taking them more seriously. Experts believe that truly effective and mass solutions in this area will appear by the end of this decade.

And that would mean the end of modern search engine optimization (SEO). We know that it has already been talked about many times, predicting a global reshuffle of power on the Internet. But be that as it may, businesses already need to prepare for a new round of digital marketing development. New trends for him may be:

1. Specific optimization for artificial intelligence. It is still unknown what its requirements will be. But we can already assume that AI will show results in search results with the shortest and most convenient customer journey.

2. Alternative promotion methods. Returning direct links, promoting contextual advertising and affiliate programs, and the boom in offline marketing. Some experts believe that intelligent search will take us back to the era of the birth of the Internet.

3. Building customer ecosystems. Along with the difficulty of attracting new customers through search, its value will also increase. A good business solution would be to form clusters that offer everything you need, from subscribing to a streaming service to real estate search services. We are already seeing trends like this on social media that are gradually becoming commercial giants.

Even if artificial intelligence doesn't destroy SEO in its current form, the rules of search engine optimization will change forever. To prepare for this event, businesses should already be working on new methods of attracting and retaining customers.

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What will be the conclusions?

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Predicting the development of technologies in the 21st century is a thankless task. Research can either accelerate as a result of unexpected breakthroughs or stop at dead ends. But we can say for sure that artificial intelligence will play an increasingly important role in human life in the coming years. Prepare for the redistribution of markets, the disappearance and emergence of professions, and the emergence of new marketing strategies and sales methods.

Although reality won't be as bleak as pessimists see it, artificial intelligence will be present in your life in one way or another. It's up to you to decide whether he'll be a productive assistant who improves work and business efficiency, or a tool in the hands of other companies that allows them to control your behavior and get the most out of it.

If you're not already working with artificial intelligence, you should get to know it right now. Don't put this decision on the back burner — while you hesitate, others are already using new technologies with might and main, increasing their competitiveness and taking an increasing market share. Feel free to look to the future and think about exactly how you can use promising AI solutions.

Are you ready to work with artificial intelligence but don't know where to start? Please contact the Start:Duck agency specialists! Our company has extensive experience in integrating advanced technologies into existing business models and setting up work processes from scratch. We will select the best solutions based on your needs and help train staff.