“There will be businesses with resources to implement AI solutions and use AI to get to decisions, and there will be businesses still standing in the ‘have-not’ space.”
The convergence of big data and cloud fueled by artificial intelligence (AI) and machine learning (ML) will be the next game changer and will create multi-trillion dollar opportunities. We are standing in middle of the single largest technology wave that is going to transform every human and business on this planet.
After the industrial revolution, which happened 200 years ago, AI is a massive technological revolution the world will see. Data is the next natural resource, just like air and water. AI has been there for decades but unprecedented explosion in data and availability of high capacity computing resources has fueled AI to become a reality today. AI and ML will define industries, both new and old, transforming data into a valuable knowledge asset and as a catalyst for disruption.
Constellation Research has estimated that the AI market will surpass USD 40 billion by 2020 and USD 100 billion by 2025. The numbers depict the way businesses are shifting their focus to AI and targeting incremental growth with the adoption of AI services and solutions in their business operations.
The convergence of big data and cloud with AI and ML is changing the landscape of information at our disposal with its applicability to every sector and business. Time has changed as the computing resources available today are exceptional. With access to technologies like AWS, Microsoft Azure, computing power is no longer a constraint and better availability of high bandwidth has changed the way how businesses are connecting with people.
IDC estimates that the world will create 180 zettabytes of data by 2025, up from less than 10 zettabytes in 2015. This amount of data sets enables machines to learn from human induced data sets and actions, accelerating their learning curve, powering them to think, act, feel, decide and interpret like humans. The amount of information is directly proportional to information available to process, enabling continuous learning process via machine learning algorithms.
One practical example of how systems learn and make accurate decisions with continuous exposure to data sets is malware detection. Deep Instinct, an artificial intelligence company providing solutions in the space of cybersecurity with deep learning, data training and predictive analytics processed around 325,000 malware files from Kaspersky Labs. According to Deep Instinct, all these files just have a variation of 2 percent to 10 percent and their systems can predict the malware files, with variations ranging from just 2 percent to 10 percent. This can be a real advancement when the world is facing massive ransomware attacks like WannaCry, Petya and more.
The world of AI
Artificial Intelligence can produce similar advancements in the areas of healthcare and personalized medicines contributing a lot towards improved medication. With high computing resources available today, predicting large data sets of plant and animal genomes and applying their set of capabilities like healing power, adaptability can be used as cure for many human anomalies.
However, artificial intelligence and big data need each other to create measurable changes and companies need both to create futuristic operations. AI solutions are going to address a range of challenges like demand supply management, hyper-personalized experiences, cybersecurity, automation and improve complex analytical tasks to name a few. Businesses looking to make a move in implementing AI need an arm of big data as well as robust cloud computing platforms. AI and ML need better algorithms and variance of data sets to be applied to different business scenarios for better predictions and more intelligent systems. Hence, AI and big data complement each other.
As the world transforms, businesses are going to end up with ‘haves and have-nots’ in the AI space. There will be businesses with resources to implement AI solutions and use AI to get to decisions, and there will be businesses still standing in the ‘have-not’ space. Discovering the power of AI for businesses will be the new normal, not a choice.
The author is Chairman, Cambridge Technology Enterprises.
Disclaimer: This article is published as part of the IDG Contributor Network. The views expressed in this article are solely those of the contributing authors and not of IDG Media and its editor(s).