Chatbots, which instantly classify customer inquiries and provide accurate answers, algorithms that check creditworthiness, engines for analyzing the TV audience’s habits, making suggestions for new programs.
These are just some examples of how artificial intelligence works and become a part of our lives. However, this is not all. Artificial intelligence finds use in every field of the economy, as it is intelligent algorithms and devices that will determine the level of countries’ economic development.
Digital transformation has been discussed for years, but the last several months’ reality has accelerated change. The COVID-19 pandemic forced institutions and users to switch rapidly to the technology area. We have been pulled out of our comfort zone, however, the digitalization of our resources and work environment have proven to be employees’ allies, contributing to their comfort and autonomy. These factors lead directly to more efficient work and companies’ earnings.
Therefore, it is easy to predict that in 2021 optimizing access to collected data and its analysis will increase in importance. Due to the growing trust in the AI solutions’ accuracy, machine learning usage will expand. This attitude will result in the braver integration between existing systems and AI solutions.
For what will we use machine learning in 2021?
The global pandemic has forced us to change our behavior and habits, moving them to the virtual world. Remote medical advice is now widely accepted, e-commerce platforms are becoming more and more popular, and offices are replaced by comfortable home desks used to connect with co-workers. As each field of life has its electronic equivalent, we generate even more data crucial for AI-based solutions development.
In 2021, enormous amounts of data collection and analytics will be at a premium. Here machine learning and BIG DATA solutions find their use, as they help us make decisions in a more optimal and faster way. The supervised learning methods that will suggest the next action after analyzing our previous choices will be significant. These are far broader uses, going beyond typical suggestions, than email text classification. Electronic “guides” will become a real help in the decision-making process and even perform some tasks assigned without employees’ engagement.
Trends in artificial intelligence and machine learning in 2021
Healthcare, hyper-automation, and text analysis
For artificial intelligence researchers, 2020 was a landmark year in many ways. Especially important remain the achievements in healthcare fields, where AI has proven its usefulness in medicine development or the prediction of the 3D structure of proteins. The growing understanding of neural networks and deep learning processes allow for the effective application of artificial intelligence to critical areas of human life, such as our health.
A trend in artificial intelligence development in ERP systems that should be watched closely is hyper-automation. Connecting artificial intelligence with process automation that involves robotic automation is going to become more and more common. The change will affect all company departments, starting with invoice processing up to resource management. Properly prepared neural networks are used to detect repetitive activities (so far performed by humans) and import them into a transparent workflow. Companies will notice the measurable effects immediately: more performed tasks, error reduction, employees’ relief.
Text analysis is another area where we will see a significant impact of artificial intelligence. Fully digitalized and electronically archived corporate documentation is a large dataset. Due to its volume, it can be a structure difficult to manage. It can be too time-consuming for the user and difficult for them to get to specific documents efficiently. Artificial intelligence comes to help, specifically, the latest achievements in the field of natural language processing and generative neural networks. This type of AI “let” into the archive not only analyze the content of the document but also allow to generate a shortened and summarized version of it. That’s the technology for companies that specialize in work with archived datasets, analysis, reports, or articles.
Automated and intelligent analysis of the enormous volume of data
A natural consequence of transferring our reality to the virtual world is the phenomenon of the rapidly increasing amount of data. And it somehow forces us to use methods of analysis and processing (BIG DATA). Why? The reason is that a human being under the pressure of information makes mistakes while dealing with important and unimportant mixed. Often overlooks things. However, the algorithm builds an error-free model that interprets the incoming data in real-time. This is the easiest way to obtain an accurate and reliable picture of the company’s condition. The balance sheet of the company allows you to make the right business decisions. Moreover, the algorithm can also analyze historical data and automate decision-making processes on its basis. Efficient organization management is a natural consequence of this.
Better image and text recognition with machine learning
Text and image recognition does not only cover the requirements of highly specialized experts. This technology expands with ease, as demonstrated by the growing popularity of the NAVIGATOR system. Thanks to it, an office worker, an accountant, for example, can save time on rewriting data from a paper document to the system. The OCR technology used in the NAVIGATOR platform automates the data entry of invoices and receipts. As a result, we have a less busy employee who can shift their priorities to another area important from the company’s perspective.
In 2021, we expect to see this sort of work moving beyond accountants’ responsibilities. Analyses and reports, so far inaccessible to computers because they are gathered in a less structured form, will be added to the ML operations. These analyses and reports, available via a unified system, will be used effectively for management purposes and seamlessly integrate with existing RPA systems.
The AI revolution speeds up
Undoubtedly, available machine learning data analysis and implementation improve every business. That’s why a well-designed tool such as NAVIGATOR will meet the needs of every industry. Undisputedly, we have not just a year of artificial intelligence ahead of us but entire decades.