Artificial intelligence (AI) and data analytics are much more than intriguing, possibilities expanding topics – they’re disruptive technologies for your business. Consider that in 2019, research firm DMI expects AI to drive nearly $2 trillion worth of business value. For those that want in on that, DMI offers 8 important AI and analytics trends for 2019.
It’s important for organizations to stay ahead and not lag behind when it comes to AI and analytics, DMI contends. “Those who do not adopt AI will be the losers going forward,” says Srinivasa R. Vegi, executive VP for data analytics and AI at DMI. “Some industries may even be wiped out.”
That seems a little extreme. (We guess they REALLY want people to download their e-book.)
Nonetheless, we do think both AI and analytics will be increasingly important for IT directors in 2019. Here’s a look at DMI’s list of important AI and analytics trends:
AI and Data Analytics Converge
Applying artificial intelligence algorithms to data analytics will prove transformative but the complex merger requires a roadmap – which most organizations don’t yet have. However, DMI points out that while right now AI and data analytics are used mostly for customer interaction, a combination can glean insights that can be used across an entire business.
Smart Applications and Decision Automation Drive Cost Savings
A big benefit to AI and machine learning in enterprises, DMI offers, is be facilitating smarter process changes which will lead to cost savings. Vegi predicts adoption of robotic process operation which within a couple of years could lead to cost savings of 20 percent.
Digital Twins and IoT Optimize
Maybe it’s the AI version of “Wonder Twin powers, activate!” DMI contents that AI and data analytics are crucial to the development of “digital twins” or computerized facsimiles of physical processes like a production line in a factory. This leads to sophisticated sensors coupled with Internet of Things (IoT) that can make production far more efficient.
Edge Computing Enables Real-Time Intelligence
The digital twins trend will lead to demand for high-powered processors. Data center AI and analytics will deliver more real-time intelligence, anticipating problems and implementing fixes before costly breakdowns, according to DMI.
Emergence of Mixed Reality
The lines between virtual reality (think bulky VR goggles) and AR (think really smart data and enriched experiences) will combine to enable unforeseen possibilities.
Prepare for the Blockchain Boom
It’s not as if hackers are going away in 2019. So Blockchain, “a very secure and transparent platform,” will be very much in demand, Vegi says.
Much More Embrace of the Cloud
With better security, more government agencies and healthcare organizations will embrace the cloud in 2019, writes DMI, generating huge new datasets to inform advanced machine learning.
You May Work with Full-Stack Engineers
All these trends related to the merging of artificial intelligence and analytics make data science very important to your organization. As such, organizations like yours may scramble to hire full-stack engineers with AI and analytics skills, predicts DMI.
Learn much more about DMI’s predictions for AI and analytics in 2019. Download the e-book.