AI Business Trends That We Might Witness in 2022
Artificial Intelligence (AI) is a term that has seen crucial growth in the last couple of decades. From automated calculations to intelligent tasks such as cybersecurity, gaming, and more, AI has transformed quite rapidly. A Statista report says, by 2024, the global AI market is expected to cross a threshold of over half a trillion dollars. Currently, as per the latest trends in AI, IBM is the leading patent holder with more than 5,500 patents on its name globally.
As new possibilities in the AI industry will come into existence, new AI future trends for businesses will also come out. So, in this blog, we are throwing some light on possible AI for business trends that are already existing, but in 2022, we might see their evolution. We will also talk about new possibilities of the latest trends in AI which are in the process of the research. So, if the topic intrigues you, stay with us until the end of this blog to know more.
1. Environment-friendly AI
Among the most popular AI trends in 2021, talks of AI to help businesses in being more sustainable have remained trendy all around the year. The major issue that companies have is, they do not have an impact on the environment. Among all the benefits of artificial intelligence in businesses, AI is capable of helping them in calculating ways to reduce their carbon footprint. For example, Google reduced their energy consumption by 40% by using deep learning for their data center cooling technology.
Moreover, among all artificial intelligence solutions, as per a report by BCG, AI can help companies in reducing Greenhouse gas emissions by 10% within an effective period of time. Environmental friendly solutions of AI in business, in the future, can reach a global value amounting to $1.3 to 2.6 trillion by 2030.
2. Impact of automation on employment
2022 is a year of technological revolution. This decade has already seen many examples of automation, but in the future, AI will be able to behave independently and that might, for some industries, be a cheaper option. However, by 2022, AI for small businesses will not be easily affordable, especially if we talk about full automation of processes such as the operations of a company. But, we can see an increased dependency on the role of artificial intelligence in businesses to automate other processes like customer service.
AI-supported customer service operations are also in the developing stage of solving customer queries without the intervention of human agents. From asking queries to resolving them and then closing the conversation, these chatbots will be capable of performing all by themselves. To make them more efficient, top AI companies in the world and experts are continuously working. Among crucial emerging trends in artificial intelligence in 2022, we might have chatbots that are much more advanced than the ones we have today.
3. Smart settlements with smart contracts
One of the major AI trends in 2022 that we are looking forward to is Smart Contracts. From streamlining processes such as insurance settlements with the help of blockchain and deep learning technologies to speeding up the entire process, AI-supported smart contracts are the future that will grow with a jaw-dropping speed among companies. The growth of smart contracts will eliminate the need for intermediaries and the long wait for approvals. With the help of machine learning data, smart contracts will be able to do the entire process independently.
4. AI for cybersecurity
Fully-automated AI firewalls have already become popular AI in business strategy. From automated scans to detect anomalies to keep hardware performance in check, AI is now keeping a tab on the factors that can disrupt the operational process of companies. AI trends in 2022 will be capable of using algorithms to identify unnatural patterns like access from an unauthorized IP source or attempts of cyberattacks. Unlike old antivirus software, AI does not have to leave scanning on periodic schedules, instead, modern AI is fast enough to process scans of large systems and networks within seconds.
A report by Capgemini says, 51% of AI technology companies are using the technology to help businesses in identifying possible vulnerabilities and cyber threats that can compromise their virtual security. Currently, these companies are in the stage of making AI much more efficient compared to before so that future trends in artificial intelligence can be automated with 100% reliability. Another report by Accenture states, in the next five years, the AI-dependent cybersecurity market will see increased revenue by $5.2 trillion globally.
Even though we might see fewer innovations coming into the market for AI that we are not already aware of, current AI innovations will see a rise in their efficiency. From automation to more accessibility, AI will not only grow smarter but also more affordable to enable automation in even low-budget startups. Among major participants of AI, countries like the USA, India, China, and South Korea are expected to see a real impact.