Top 5 Machine Learning Trends in 2021-2022 | |

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Generated: 9/20/2021
Top 5 Machine Learning Trends in 2021-2022 | |

As 2019 comes to a close, a new year means new opportunities and challenges for those in the field of machine learning. Today, we’ll run through what the top five emerging trends are for the coming year and what that means for the business world as well as for academics.

One thing is sure — the number of applications for machine-learning technologies continues to surge, and so does the number of ways people are using these AI tools. With that said, let’s dig down into what the top five trends for 2020 are.

Trend #1: Automated machine learning will take the business world by storm. AI isn’t coming only to disrupt work roles, it will actually take the entire business world by storm, as we can already see with advancements in the retail and banking sectors. A combination of new tech trends and the implementation of existing technology will make in-store and on-site retailing more personalized and convenient for consumers.

In fact, more than 50% of retail brands are already using machine learning in some capacity. And what that’s translated to us is an opportunity to make our work lives more efficient, but it is also bringing in some major headaches for our employers — both retail chains and brick-and-mortar-friendly companies.

Here’s the thing: AI will not only be able to create these efficiencies, but it will also be able to make sure your work roles don’t require you to do tedious work — like making coffee or taking orders.

But with its promise of creating personalization and accessibility, AI will be bringing in a few headaches to the business world, as well, for example, in terms of data privacy. And that’s one big reason why most AI practitioners will only be allowed to access certain pieces of critical information to ensure data privacy is maintained at its highest security level.

Another concern with this tech is that AI can be easily misled by incorrect data inputs and can become biased or prone to ‘bias’ — so you need to do proper checks and balances as well.

And finally, we still haven’t figured out what AI will be good for in the long run. So to prevent any business leaders from getting overly excited without having an overall plan, it’s a good idea to think through the applications and potential roles that AI will play in businesses — instead of simply throwing something out to see what happens.

Trend #2: We’ll see a huge rise in the use of VR in business, education, and healthcare. To start, we’ll be going through an era where more companies will be using virtual reality content to train employees and train employees in the future.

VR is already a huge business, but we believe the number of companies incorporating this technology into their business models will jump tremendously in the year 2020. We also think 2020 holds great promise for the use of VR in education and healthcare, too.

How will this happen? Many companies are creating 360 and AR experiences for clients, and as we move into 2020, we can expect all of these trends to continue to grow in their usage.

Trend #3: AI will be the new standard in customer service. With the advances in AI technology, you won’t need the help of a traditional call center service anymore — you’ll be able to get live customer service in real time, 24/7/365, without worrying about calling back (and wasting your client’s time).

But we also think that 2020 will bring about a revolution in terms of the customer relationship. The future will be focused on using AI to provide proactive customer service rather than a reactive one — and we have a feeling that the trend will stick around regardless of what year it is.

We’re talking about the advent of chatbots and natural language processing, but also self-healing applications that will be able to fix certain issues before they even happen by connecting to internet of things devices. Chatbots themselves are a great way to interact with your website visitors, but once they’re able to connect to specific customers and their different needs and desires, they’ll be able to provide much more accurate and valuable customer service.

And if you’re a business owner, your customer relationships will go through a revolution. Instead of relying on a call center to give them the assistance they need, these chatbots will bring the best of both worlds (for example, you’ll have a more human-like encounter).

And with the rise of virtual personal assistants and self-learning smart assistants, it’s easier than ever to get this kind of information.

In terms of customer service, the future will include a lot of these virtual personal assistants like Apple’s Siri or Amazon’s Alexa, and the trend to start using these services as a part of your customer relationships will only pick up in the year 2020.

Trend #4: More than half of B2B companies will shift to AI models to help them make better business decisions.

According to a recent survey from our company, the rise of AI-powered tools will likely go through two big phases. We’ll be going through a stage where companies are able to use these tools for their daily operations, but we also expect to see a significant shift to AI-based technologies.

Here’s a hint: When you have enough data, you don’t need machine learning anymore. In other words, as most businesses become bigger, they can afford to buy data tools that aren’t tied to data anymore — which means we’ll have a shift towards AI-based analytics and tools in the year 2020. By collecting more information and analyzing it on your own, you won’t need data science, machine learning, or AI; you’ll simply be able to use more powerful tools that help you make decisions and make intelligent decisions.

Trend #5: More startups will launch AI-focused solutions. The reality is that as an AI developer, you’re not just a part of the traditional IT team, but you also become the ‘brain’ behind the business.

So, why should you work on AI — something that a lot of big business are already starting to do? Well, it turns out that startups are the best bet for AI technology, as most startups don’t have the money necessary to spend on big data.

Most small AI-oriented companies find themselves relying on big data in exchange for more business, and as time passes, that big-data budget will become larger and larger. We already know that as a developer for a startup, you need to be able to make smart decisions — and that’s no different when it comes to AI.

And with less money being spent on big data, it will go to AI in the year 2020.

Why does this matter?

As we move towards automation, we’re talking about making a big shift that will impact every business out there. What we’re talking about is turning all roles into smart ones, which means you’ll be able to focus on your strategic initiatives.

This will also include the shift of businesses that rely on technology for their daily operations. So, if you’re a company in transportation, insurance, retail, customer service…the rise of smart technology applications will mean you need to think through what will happen to your business if everything is automated — and that means looking into AI and automation solutions.

This is the direction we’re going for — because it’s a big change. So, if you’re working on AI software development, you need to be ready for this change.

Let’s dig a bit into what this change will include, as well as what we’re already seeing from big tech companies:

How is this affecting me and my business?

Automation will affect every single industry. To date, the majority of automation has been in the service industry, and this is only going to change in 2020. The number of roles that will be automated will be vast, and you can only be prepared for that by using technology solutions designed for smart assistants.

This will most likely make people more independent and efficient, while the AI-powered customer service will provide companies with a much more human-like experience — which will benefit businesses in a few ways:

The first is the idea that you’ll be able to spend more on customer service than ever before, as customers will no longer have to call the business or use a call center anymore.

The second is that customers will be able to reach the company in different ways, as they’ll likely have more conversations with the software. This means that you’ll be able to use intelligent virtual personal assistants to keep them satisfied and be proactive in their needs — instead of simply responding to customers as best you can and hoping for the best.

The third thing is that your customers will be able to receive a more personalized customer experience and have a richer experience with your products and services that will lead to an improved conversion rate and a growing customer base.

If you want to understand how powerful machine learning can be when it comes to solving certain problems, we highly recommend you check out our recent article, where even Google’s self-driving cars got a boost from machine learning.

To date, we’ve seen companies like BMW, Jaguar, and even Apple get a boost from machine learning, but it’s definitely something that most of us haven’t yet witnessed first-hand.

Garett MacGowan

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