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Artificial Intelligence Predictions 2023 - The Information Age

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2023 could be the year artificial intelligence moves from the margins to the mainstream, as AI becomes widely adopted by healthcare, travel and banking. Five experts give their predictions

Global spending on artificial intelligence will reach half a billion dollars this year, according to IDC. Five artificial intelligence experts give Information Age their predictions for the acceleration of AI adoption in 2023.

More AI for use in healthcare and travel

Expect to see AI play a bigger role in frontline healthcare in 2023, says Adonis Celestine, director of automation at Applause. This will be particularly true in the UK and Europe where there is a shortage of doctors and GPs. Chatbots have been used to diagnose symptoms during Covid, Celestine says, and in the future we’ll see more cases of AI filtering patients to the right healthcare professionals, once the initial diagnosis has been identified.

Travel is another area where Celestine thinks we’ll see more adoption in the form of AI assistants. These automated assistants will help create a smoother travel experience: they will manage the entire process, from arriving at the airport, to boarding a flight, to booking a taxi when you arrive at destination and check-in at your hotel. They will even provide you with information on where to visit and where to eat during your stay, he believes.

AI will be much more widely adopted

We are at the tipping point where AI is simply not an add-on in discrete areas such as virtual assistants or recommendation algorithms, but will be something that underpins how business is done more broadly. , says Carolyn Prior, UKI practice leader applications, data and AI at Kyndryl.

AI-powered automation will allow thousands of people to retrain for higher value roles and realize hundreds of millions in savings, Prior estimates.

This widespread adoption in companies comes at a time when money and employee talent are limited. Businesses will look at the human toll of capacity and workload and realize that using AI-powered automation to work faster and smarter will be as existentially necessary as increasing the skill base of the workforce, she says.

The benefit of this is that as AI becomes more widespread in the business community, it will be able to demonstrate not only how it improves the customer experience, but also that of employees, while contributing to sustainability. .

Prior says, “By this time next year, I expect to see a much broader cross-industry understanding of the positive consequences of automation.

Reducing maritime carbon emissions

The shipping industry – think of all those container ships crossing and re-crossing the oceans – is well aware of its net zero responsibilities. In fact, eight out of 10 marine professionals understand the importance that digital technology will play in halving carbon emissions by 2050. But there is a lack of detailed knowledge and skills on exactly how the industry will get there.

Sarah Barrett, Head of Product Information for maritime technology company Wärtsilä Voyage, says: “To get the most out of AI and data-driven technologies, the maritime sector will need to bring in talent from adjacent industries. , such as logistics or supply chain. Data, IT and sustainability specialists will be key to accelerating the pace of change and delivering on companies’ ambitious net zero strategies. »

Rise in synthetic data

Synthetic data — data artificially generated by computer simulation — will grow exponentially in 2023, says Steve Harris, CEO of Mindtech. “Large companies that have already embraced synthetic data will continue to grow and invest because they know it’s the future,” Harris says.

Harris gives the example of car crash testing in the automotive industry. It would be impossible to repeat the same car accident over and over again using crash test dummies. But with synthetic data, you can do just that. The virtual world is not similarly constrained, which has led to the massive adoption of synthetic data for AI road safety testing.

Harris says synthetic data is now being used in industries he never expected to improve development, services and innovation.

We can expect this to continue, Harris says, as synthetic data offers a more cost-effective and efficient way to collect data for smarter AI. »

Widespread adoption by banks

Banks will use AI more to give them a competitive edge to analyze capital markets and spot opportunities.

“2023 will be the year the rubber meets the AI ​​road in capital markets,” said Matthew Hodgson, Founder and CEO of Mosaic Smart Data. “In the face of volatility and economic uncertainty across the globe, a bank’s most valuable resource is its transaction records – and within that is its guide to where the opportunities lie in. Extracting value from these records is no longer an advantage, it’s a fundamental necessity for competitive advantage.

“Those who act now will benefit from the first-past-the-post system – they will generate more business and start generating more data, from which they can extract more information and continue the cycle of prosperity. As we move forward Around 2023, the race to become data-first and effectively deploy AI is well and truly on.

Learn more about artificial intelligence

Why the EU’s Artificial Intelligence Law Could Harm Innovation – The proposed EU Artificial Intelligence Law plans to restrict open source AI. But it will come at a cost to advancement and innovation, says Genie AI’s Nitish Mutha

How Organizations Can Use AI to Boost Sustainability Efforts – Peter Weckesser, Chief Digital Officer at Schneider Electric, explains how AI can help companies boost their sustainability efforts

Use cases of AI and ML in cybersecurity – As cyberattacks become more diverse in their nature and targets, it’s critical that cybersecurity personnel have the right visibility to determine how to fix vulnerabilities accordingly, and AI can help solve problems that their human colleagues cannot. not solve alone.

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