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AI Trends to Look Out for in 2021

AI, or Artificial Intelligence is an area of computer science that aims to stimulate intelligent behavior within computers. It’s all about giving computers the capacity to imitate rational human behavior.

There are many different benefits associated with AI and many things that it can be used for. This includes marketing automation software, improved customer experience, better decision making, research and data analysis, medical advances, and solving complex problems.

This is an area of technology that is advancing all of the time. It’s an exciting sector, with lots of innovative trends coming to the fore. With that in mind, below, we are going to take a look at the main AI trends to look out for in 2021.

AI-powered Data Analysis

The first trend that we are going to take a look at is AI-powered data analysis. There are many ways that AI is being used in data analysis, which includes the following:

  • Using analytics to predict outcomes – AI can help you to predict the best pathway to embark on to achieve success. By analyzing data from hundreds of sources, you will get predictions regarding what will and will not work.
  • Finding new insights from your analytics – AI excels at locating patterns and insights in complex datasets that humans are not able to see.
  • Unifying customer data and analytics – This involves using the scale and speed of AI so you can pull together all of your consumer data together in a unified, single view. You can also unify data across various sources.

There are many benefits associated with using AI for data analytics. This includes getting a better ROI on data hires. Making a bad hire costs a lot of money. You don’t want your business’ best talent to spend their time on short-term, tedious tasks. AI can eradicate these repetitive tasks for data scientists. Other benefits include improved internal collaboration, delivering excellent customer experiences, and leaner operating expenses.

This trend is gaining more traction in 2021 because businesses are collecting more consumer data than ever before. Plus, the COVID-19 pandemic has had a massive impact on businesses today. Companies are finding that they need to learn how to work with fewer resources, and so using AI in data analysis saves time and allows people to focus on the more complex tasks.

Predictive Analysis

Another trend that is going to become more popular as the year goes on is predictive analysis. This is the utilization of machine learning techniques, statistical algorithms, and data to determine the likelihood of future outcomes based on historical data. The aim is to go beyond understanding what has happened to get a better comprehension of what will happen in the future.

Predictive analytics are utilized to figure out customer purchases or responses, as well as promoting cross-sell opportunities. Predictive models enable companies when it comes to attracting, retaining, and growing their most profitable customers.

Using AI to power your predictive model can enable you to take the data you already have so that you can unlock incredible value from it. You will determine where you are going wrong at the moment, what your target consumers want, and so on.

There are many benefits that are associated with using AI-powered predictive analysis for your business. This includes the following:

  • Enhanced supply chain and economic indicators
  • A better understanding of the behavior of your customers and potential customers
  • Competitive advantages over other companies
  • Automate a wide range of practices to save your business both money and time
  • Consolidate your technology, which results in easier processes for end-users

Natural Language Processing (NLP)

The final trend that we are going to take a look at for 2021 is natural language processing (NLP). NLP is a branch of artificial intelligence that assists computers in understanding, interpreting, and manipulating human language. NLP draws from a number of different disciplines, including computational linguistics and computer science, with the aim of plugging the gap between computer understanding and human communication.

How can natural language processing be used? There are many different ways that NLP can be utilized. One of the most initial and basic applications of NLP online has been email filters. Spam filters were first used, but there have been many innovations since then, including email classification.

Other examples include the use of NLP in search engines to surface relevant results based on user intent or search behaviors, as well as smart assistants like Amazon’s Alexa and Apple’s Siri. Language translation, predictive text, data analysis, digital phone calls, and text analysis are other examples of NLP.

There are plenty of ways that NLP can prove beneficial to businesses in 2021 and beyond. It can help businesses to better understand the language of the mind so that they can uncover possible problems and ensure outstanding results. A lot of our behaviors are unconscious, which is why NLP is imperative in terms of decoding thoughts and behaviors so we become consciously aware of what is happening in the background.

Businesses can also make the most of NLP to replicate excellence in any field, as NLP provides techniques and methodologies that are reliable. Furthermore, communication can be enhanced, learning to better relationships for businesses.

Conclusion

So there you have it: the main AI trends for 2021. We hope that this post has helped you to get a better understanding of the Artificial Intelligence trends that are going to be the most prominent throughout the year. From natural language processing to AI-powered data analysis, we’re going to see these trends really help move businesses forward throughout the year. It has been a difficult time for companies as of late, but by using technology sensibly, you can help to move your company forward and achieve greater success.

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Rebecca DiCioccio

Marketing manager at Paperform

Topics

  • AI/ML
  • Insights