AI Trends that Can Transform Businesses in 2023

AI Trends that Can Transform Businesses in 2023

The top AI trends to watch for in 2023 may surprise many; however, businesses are fast to catch on to emerging trends and make them useful as quickly as possible. The need to stay ahead of the competition, even with the adoption of relatively new AI software, is essential to today’s companies.

What’s surprising is that businesses across industry sectors are engaging with AI in creative ways no one would have thought possible only a few years ago. Companies are finding that AI offers greater efficiency, faster insights, and enhanced customer experiences. These benefits are valuable for businesses around the world.

In this article, we’ll review some of the AI trends that will transform businesses in 2023.

Top AI Trends to Watch

Creative or Generative AI

Generative AI refers to the sub-field of machine learning generating new data or content using an existing data set. In other words, AI uses a database and algorithms to learn patterns and features contained in that database. These features may include code, text, images, audio, video, or other data types.

Generative AI is already used in a wide range of applications. Here are some examples of generative AI:

  •   Generative Pre-Trained Transformer 3 (GPT-3)

This AI was developed in 2020 and is a language prediction model that autocompletes text after studying millions of web pages and scientific papers online. GPT-3 has 175 billion machine learning parameters. It runs copywriting tools that create human-like written content after it’s fed with information, such as topics, descriptions, or introductory sentences. The tool can be used to create outlines, summaries, essays, op-eds, and more.

However, GPT can contain bias; the input comes from previously published content that may have racial, religious, or gender bias and other issues.

  •   ChatGPT

ChatGPT is a bot version of GPT-3 that first came out in November 2022. This is a language model that has the ability to answer questions and perform instructions after receiving training from human conversations and Internet content written by humans. For instance, this AI reads human feedback on sources such as Reddit and has learned what humans expect when others ask them a question. ChatGPT has learned the human way of responding to questions.

ChatGPT was developed by OpenAI to mimic human conversation. The bot is able to create and organise lists, write letters that sound as if they were written by a human, and more; companies see this AI as a possible assistant in the office and for customer support.

Some concerns have arisen about the use of this AI by students to write essays and academic papers. However, ChatGPT occasionally creates content that is nonsensical or even contains incorrect information. So, auditing the AI’s performance will be needed in the future to prevent misinformation in customer care and other settings.

  •   DALL-E

DALL-E became one of the most popular AI in 2022 due to its graphic creation features. The AI is named after Salvador Dali and the robot in the 2008 Pixar animated film Wall-E.

The AI can create art when a person inputs a description (text prompts). DALL-E generates several versions of the image to choose from, or you can ask it to create a new image from an existing one by using text prompts. The AI can even add more details to an original photo, making DALL-E beneficial for branding and other creative market sectors.

Greater AI-Human Collaboration

AI has the potential to also support different types of human functions in the workplace. These are set to increase, with the AI’s being called “cobots” or collaborative robots.

It’s believed that more companies will use machines with built-in AI to use for repeated, physically strenuous tasks. This will allow humans to perform more specialised work. AI features can also help teams quickly detect and respond to defects or failures, leading to increased safety and lowered costs for repairs and injuries.

Cobots may become popular in these industries:

  •   Automotive manufacturing
  •   Agriculture
  •   Healthcare and hospitality
  •   Food and beverage
  •   Electronics
  •   Emerging technologies
  •   Defense

Ethics & Regulation

While generative AI has many benefits, there’s the fear it could be misused, such as in the production of deep fake videos. Cybercriminals can also use the tools for fraud, slander, blackmail, and more. So, questions have arisen regarding the boundaries between original and proprietary content. The AI sector expects users and customers to demand transparency, safety, and responsible practices.

The New York City Department of Consumer and Worker Protection has already passed the AI LAW (New York City Local Law 144), which requires employers to meet bias audit requirements before using automated tools for evaluating job applicants. In addition, hiring teams should inform candidates about their use of the AI tools for recruiting and job ads.

In 2021, the European Council also submitted a proposal to regulate AI. The proposed legislation classifies AI applications and systems into prohibited, high-risk, and low-risk categories. When approved, the AI Act will serve as the AI counterpart of the General Data Protection Regulation (GDPR).

Democratisation: Low-Code, No-Code AI

Another area where AI is taking off is in the low-code, no-code trend in website and app development. AI in this configuration allows businesses to customise intelligent systems through pre-built templates and drag-and-drop methods. The integration of AI into existing workflows will happen more quickly; as a result, leading to AI use to scale faster.

AI can also take care of repetitive tasks such as invoicing, form filling, and contact validation, freeing humans for more meaningful work.

In addition, with the integration of AI, IT modernization tools are 70% cheaper, and work gets completed much faster than using traditional methods. Most developers are already using AI for these reasons.

Sophisticated Cybersecurity

Another sad fact about AI is that hackers are using it and its features to shorten the life cycle of their attacks from weeks to days or hours. As more industries adopt AI, critical infrastructure may become under threat of hacking, including national civil infrastructure that provides power and water to homes and businesses.

Because of these developments and new threats, more jobs will open within the information security industry, and specialists will be handling such AI security issues as:

  •   Data handling
  •   Vulnerability management
  •   Threat detection

Summing It Up

There’s no question that AI is becoming a popular tool for businesses across a wide range of industries. While there are concerns about how the tools can be used by bad actors, AI is still seen as a huge benefit for most companies.

AI will continue to grow into and through 2023, with more applications evolving as humans become more familiar with and used to working with AI tools.