Trends In Big Data that will influence Artificial Intelligence in 2018
With the rapid growth of the world, the big data is increasing enormously.
New technologies such as artificial intelligence based solutions are being introduced. The AI tech empowers machines to learn and evolve through big data analysis. With increasing proliferation of big data analysis into the artificial intelligence, big data will play a vital role in improvement, enhancement, and advancement of machines and computer. This will lead to better AI solutions to tech firms and be giving rise to their market demand. Trends to watch 2018 that will influence adoption of Artifical Intelligence in businesses:
Business Intelligence is a technology-driven process to analyze data and transform data into an actionable information that will help businesses for better decision making.
For better business decision making, firms rely on advanced data analytics. In 2018, AI will assist businesses to identify patterns, trends, and habits through machine learning systems. These systems will tell businesses about their interesting historical data.
AI-powered BI tools will dig into business ’s previous unexamined data to predict and plan the future of the businesses. AI will also take the advantage of natural language generation capabilities to explain about the insights – what and how to act on them.
Blockchain technology provides secure and efficient transactions process over the internet. It works on Block+Chain, transactions are stored in the form of digital blocks. Every time a new transaction is processed, a new block is created by ‘miners’ and block is linked with previous blocks creating a blockchain. Miners are special computers, which verify every transaction made.
How can blockchain benefit business? Here are the reasons:
– Blockchain technology is very resourceful for storing any kind of digital information as it is immovable and incorruptible once it is created.
– Blockchain uses its consensus algorithm and carries out secure transactions. Many finance sectors will adopt this technology for financial management, contract management, and asset management.
– Blockchain with advanced cryptography converts data into encrypted data which is less prone to hack.
Enhanced Document Management
Every day we create 2.5 quintillion bytes of data, according to IBM. As the world is steadily connecting with increasing number of electronic devices, the data is set to grow. It will be essential for a business to manage these fast-growing data. Businesses are implementing machine algorithms into their applications to sort the large pile of unstructured data and identify critical trends and patterns. Machine Learning-also scan documents and lets applications identify the category of documents. This process creates a digital copy of documents and eliminating the need to store the document manually. AI manages your documents in the following ways:
Collecting data from various sources like company websites, emails, social media sites, SMS, etc.
AI will identify which data is being used seldom or not used. It takes that data as obsolete and recommends employees to whether to throw that data or keep it, saving the time of the employee to search for those potential obsolete data.
With data being created every minute, it is very important for a business to do real-time data analytics. Real-time data analytics has the potential of 20% increase in sale opportunities for businesses. AI with its machine learning power will identify the customer behavior and recommend the businesses to create ads or marketing plan according to their behavior.
Imagine, you want to book an appointment with a doctor. AI-based chatbots text you back about the doctors’ availability. These combats are handling appointment tasks at the same time they are driving attendant revenue without human intervene.
We can narrow down our target audience by age, interest, gender, location and etc, saving expenditure of business for marketing. Businesses through real-time data analytics, increase their sales opportunities as well as plans for the future.
According to IDC(International Data Corporation) definition, “Edge computing is a “mesh network of microdata centers that process or store critical data locally and push all received data to a central data center or cloud storage repository, in a footprint of less than 100 square feet,”
McKinsey & Co., the Management consulting firm, estimated that the Industrial Internet of Things (IIoT) will create $7.5T in value by 2025.
Edge computing enables data analytics and data gathering at the source of data. The edge computing can also be referred as cloud optimization. These sources can be laptop, tablets or smartphones, which are not continuously connecting to a network. The data are filtered before sending the data to the cloud, so that obsolete data is not stored in the cloud.
Edge computing will be valuable to organizations in the near future –it will be indispensable.
Here are some perks for adapting Edge Computing ( the next-generation trend) into businesses:
– It will provide real-time data analysis for businesses because the data is analyzed at the local level and not in distant data centers or cloud.
– As the data is analyzed at a local level or device, it will reduce the operating and maintenance cost. No more spending funds on large data centers.
– The network traffic will be reduced. Typically, businesses were collecting a huge amount of information from different sources and storing it in data centers or cloud. With edge computing, data is collected and analyzed from various local devices acting as data centers instead of relying on one single data center.
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