AI Trends to Watch in 2023

For the last decade, AI has been accelerating at a staggering pace. According to MarketsandMarkets, the industry is expected to reach $42.4 billion in 2023. It’s clear there’s no slowing down in sight, and we’re starting to realize it with the debut of powerful new AI-powered products and services across industries. But what’s actually driving this exponential growth, and how will it affect the space in the coming year? Here are three key AI trends that will take shape in 2023: 

1. AI will be everywhere.

AI is becoming a fundamental differentiator for every enterprise. If you can’t find deeper insights in data – and fast – your competitors will. The problem is, there aren’t enough great engineers to be had, and top talent will remain extremely expensive. As a result, an increase in “AI guns for hire” consultants and greater availability of low- and no-code features will become product differentiators. This democratization of AI will help simplify adoption of these technologies in all vertical markets. 

Additionally, cloud vendors will increasingly combine their services building blocks to include AI, leading to powerful, widely available tools and solutions. While this is more of an “AI under the hood” view, it’s important for two reasons. First, whether they know it or not, more people will be using AI than ever before, putting it in the hands of the masses. Second, we’re starting to realize bottom-line business drivers of AI, which will trickle down from the aforementioned major cloud vendors to smaller tech players. 

2. Generative AI will become commercialized.

Generative AI is having a moment, and we’ll start to see many more products and services come to market in 2023.This area is exciting because there are many, largely untapped, but very valuable use cases. One particular bright spot is generative AI-powered language applications. In gaming, for example, a user can opt to sound like their on-screen character. In a virtual meeting, a person with a cold can make their voice easier to understand, enabling them to focus on their work contributions, rather than potential misunderstandings. 

Unlike AI-generated imagery, which has gained a lot of attention recently, the business use cases are lacking. Speech-to-speech (S2S) technology, on the other hand, has the potential to change the way we work. For customer service, this can be a game-changer. For example, contact center agents can use generative AI to clearly understand callers from anywhere in the world, helping them resolve problems faster and feel more empowered in their roles. 

3. AI ethics will move to the forefront. 

Despite its proven value and great potential, there are still complex legal and ethical issues around AI. The severity varies – new implications can range from negative to dangerous. From deep fakes, to biased algorithms, to models that have simply degraded over time, these are all scary reminders that regulatory frameworks must adapt to the fast-evolving AI technology and tools on the market. 

In fact, the first class-action suit in the U.S. against an AI system was recently filed, and it won’t be the last. Technology may be leaps ahead of the legal industry, but as AI embeds itself more into our everyday lives, companies and governments must get serious about safe and responsible practices. We will also see more transparency around cases like this, and learn from how to avoid these missteps for future deployments. 

We’re at an inflection point with AI, and it will be interesting to see the progress we make over the coming year. As we see AI become more accessible, more useful with new and innovative applications, and safer with stronger regulations around its uses, 2023 is sure to be another landmark year for AI. 

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• Source: https://www.dataversity.net/ai-trends-to-watch-in-2023/