What will be the top 5 new technologies in 2021?
Every year we pick some trends for the coming year – according to Technopedia in 2021 we should be keeping an eye on the use of 4IR tools for business forecasting, healthcare, reinforcement learning, conversational AI and predictive maintenance are all developments: –
- Business Forecasting and Analysis – time series analysis has been popular for the past couple of years and is still a hot trend for the current year. With this technique, analysts collect and monitor a set of data over a period of time which then is analyzed and used for making smart business decisions. In 2021 we can expect companies to incorporate ‘recurrent neural networks’ to assist forecasting. For example, deep learning solutions can find hidden patterns and therefore provide accurate forecasts. An example are new 4IR systems that are replacing insurance actuaries.
- AI and Healthcare – The healthcare industry has greatly benefited from the advancement in AI technology over the years. AI development companies have come up with numerous solutions to enhance the capabilities of healthcare firms. Developments during the COVID pandemic are being used to identify potential hot spots. Thermal cameras and smartphone apps can monitor the temperature of individuals and pool data for healthcare authorities. The use of AI can help healthcare professionals and industry at large in many ways. Using data analysis and prediction capabilities of AI and ML tools, authorities are gaining insights into the medical records of individuals for taking necessary preventive measures. A familiar use case is smart AI watches that monitor the vitals of a patient keeping a track on their health remotely.
- Reinforcement Learning – Is a special application of deep learning that uses its own experiences to improve the effectiveness of captured data. AI software is set up with numerous conditions that define what type of action will be performed by the software. Based on these, the software self-learns actions to perform to meet the desired goal. An example of reinforcement learning is a chatbot that addresses simple user queries like order booking, greeting, or consultation calls. Machine Learning Development Companies can use RL to make the chatbot more resourceful by adding sequential conditions to it – such as identifying sales leads and transferring calls to the relevant service agent. Some of the other applications of RL include robotics for industrial automation, business strategy planning, aircraft control and robot motion control.
- Conversational AI – the technology of automated messaging and speech-based applications work which is used to communicate like a human by acknowledging speech and text, understanding the intent of a customer, deciphering different languages, and giving responses similar to the way humans do. Examples of conversational AI devices are chatbots, and smart assistants like Amazon Echo and Google Home. However, there are a lot of improvement areas that need to be addressed by developers – such as speech recognition and automated text recognition. These limitations can be overcome in various ways and 2021 will see further developments in conversational AI.
- Predictive Maintenance Using AioT (Artificial intelligence of Things apps) use technologies in software and customer relationship management (CRM) to provide businesses with real-time information and monitor the performance of various interconnected devices. These smart solutions can be used for predictive maintenance in industrial machines and can be used to address problems both remotely and on-site. For example, AIoT powered mobile applications allow technicians to find faulty machines with the help of image recognition features embedded in Field Service applications and use the right tools to solve the problem quickly.
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