2017 was the year of Big Data. In fact, it is no longer a buzzword as more and more enterprises are preparing to capitalize on hitherto untapped potential. Going forward, 2018 will be the year of convergence between Big Data and Artificial Intelligence. With AI becoming smarter and increasing adoption of cloud first technologies, data analytics will involve more advanced technological capabilities consolidated in enterprise solutions benefitting people and businesses. Many forces that have influenced the growth of AI so far will continue to make an impact, however, by understanding these emerging trends your company will be better prepared to leverage Big Data and Artificial Intelligence.
Blockchain Technology Meets Big Data
As of now, blockchain technologies’ applications are limited to cryptocurrency and finance; we’re just seeing the tip of the iceberg. Looking at the current market trends, it is hard to see Big Data and AI without blockchain. As blockchain continues to gain popularity, a combination of Big Data, AI and blockchain could be the future of networking and transform the way we work with data.
AI has plenty to bring to the table when it comes to security. Convergence of AI and blockchain is ideal for storing sensitive data, which when processed and analyzed can unlock new doors of opportunities. As we continue to advance, we are going to see more breakthroughs in the field of machine learning powered by blockchain technology.
New Generation Chatbots
There has been a lot of hype around chatbots until now with little to show for it. However, 2017 was the year businesses finally started getting returns. An Oracle survey reveals that 80% of businesses want chatbots by 2020. The number is justified as AI-powered chatbots are transforming the e-commerce marketplace, customer service, travel and hospitality, banking and even human resources.
No matter these chatbots are successful in getting the job done to an extent, they still lack the human touch. People can always differentiate when chatting with a human or a bot. Big data, at the same time, can pave way for the next-generation chatbots which can utilize this huge chunk of data. AI combined with Big Data will surely change the way how bots interact with humans. 2018 will see broader adoption of big data to leverage the benefits of an increased humanly interaction to generate more sales and foster customer loyalty.
Traditional AI technology required a vast amount of processing power to run complex algorithms which made deployment in distant locations impractical. In contrast, edge computing technologies make integration of AI-powered systems into their architectures impossible. At present, each of the technologies needs to overcome these limitations in order for this partnership to take place.
Combing these two technologies for use in Industrial IoT could result in a match made in heaven. Predictive maintenance is one of the few areas when Edge-AI partnership could greatly improve IoT system output. A huge opportunity lies in intelligent transportation systems like self-driving cars and traffic management systems where the importance of safety is paramount.