Top AI and ML Trends For 2023

Updated on: 10 Jan, 2023
Top AI and ML Trends

Artificial Intelligence and Machine Language are the biggest game-changer technologies of the century. Due to AI ML technology trends, we are witnessing a paradigm shift in space exploration, medicine, science & technology, businesses, and human lives.

You may have read numerous articles on Top AI and ML trends. But we promise not to bother you. We’ll provide fresh perspectives to consider and deepen concepts that others have only briefly explored. To help you seize this opportunity to the fullest, Ecosmob presents a detailed guide on the latest trends in AI and ML.

Let’s go ahead and get started.

Artificial Intelligence is transforming productivity and the global economy’s GDP potential. It has become more prevalent through the latest trends in AI and ML, like OpenAI’s ChatGPT & DALL E.2, Natural language processing(NLP), Deep learning, TinyML, machine language automation, and more.

AI Global Economy by 2030

As per a report by PWC,
  • AI will contribute up to $15.7 trillion to the global economy by 2030, more than the current output of China and India combined.
  • Business productivity will rise by 40%.

What is Artificial Intelligence?

Artificial Intelligence is a field that combines robust data and computer science to enable problem-solving. It creates a system that can stimulate human Intelligence and make judgments on their own. Furthermore, machine learning and deep learning are the subfields of AI.  According to the famous computer scientist John McCarthy, who coined the term Artificial Intelligence, AI is the blend of science and engineering of making intelligent machines or, precisely, intelligent computer programs. For instance, face recognition technology, sentiment analysis, chat-boxes, smart robots, autonomous vehicles, and voice command features are the result of most confluent AI applications. Evolution in the wearable Industry is majorly due to Artificial Intelligence. Your smartwatches, smart glasses, and many other wearables are AI-enabled devices. You can check out some coolest Wearable Technology Trends selling like a hot cake this year. Even high-end applications like  Siri, Alexa, and Cortana are examples of AI-enabled technology.

AI, ML, Deep LearningHistorically, Artificial Intelligence came from an idea of ” a machine that thinks” in ancient Greece. Eventually, it then evolved more religiously after the advent of electronic computing. Since then, it is continuously setting key milestones with its advancements.

What is Machine Learning?

Machine Learning is a subfield of artificial intelligence. It uses algorithms to analyze, process, and identify data patterns to make accurate predictions. Just like practice makes a man perfect, more data and experience make machine learning more accurate. It is a breakthrough technology that efficiently imitates how humans by processing a large amount of data. It is the reason experts believe that ML is the backbone for human-like communications.

As per Fortune Business Insights, the global machine learning (ML) market is expected to grow  $209.91 billion by 2029, exhibiting a CAGR of 38.8% during the forecast period.

Machine Learning Market by 2029The future of machine learning is quite promising for all industries and investors.

Machine Learning gives birth to Deep Learning. You can understand it as a more advanced version of ML and one of the latest emerging trends of AI ML.

Latest  AI & ML Trends

Here are the top emerging trends in artificial intelligence and machine learning that touch our lives directly or indirectly. These are some of the most influential trends that are here to stay.

1) AI-Powered Automation through Deep Learning 

You must have heard of or used these services in this digital age – voice-enabled TV remotes, digital assistants, credit fraud detection, and self-driving cars.  The technology behind all these products and services is Deep Learning.

You must be wondering,

What is Deep Learning?

Deep learning is a technology where machines mimic the human brain. Technically, it is a subset of machine learning, as the above image shows. Deep learning aims to deliver hyper-personalized content.

It uses its neural network, which consists of three or more layers. These layers process unstructured data, perform data mining and pattern recognition across massive datasets, and offer refined results.

Deep learning allows machines to handle specific tasks by analyzing the inputs independently, without any command or being programmed.

In the last decade, the search interest in deep learning has grown to a whopping 2,933%.  Unarguably, it is one of the greatest artificial intelligence revolutions.

It has enormous use cases that stretch across all industries. Some of the critical use cases of deep learning-

  1. Self-driving cars
  2. Voice Assistants- Google Assistant, Alexa, and Siri
  3. Image Recognition
  4. Influencer Software for Marketing
  5. Predictive Advertising

2) OpenAI’s – ChatGPT and DALL-E2

One of the most trending technologies that have taken the world by storm is OpenAI language models- ChatGPT and DALL-E2. Even though artificial intelligence (AI) has been there for some time, technologies like OpenAI’s ChatGPT have allowed web users to experience “real” AI applications for the first time on a consumer level.

What is OpenAI?

OpenAI is an AI research and deployment company founded by Sam Altman, Elon Musk, and others. The mission of OpenAI is to develop friendly AI and ensure that Artificial General Intelligence (AGI) benefits humanity as a whole. Today, OpenAI claims it is producing roughly 4.5 billion words a day. It now facilitates more than 300 apps that many developers use to generate content.

The two most popular tools making the news these days are –

1) ChatGPT

ChatGPT  (Generative Pre-trained Transformer 3) is a prototype dialogue based-AI chatbot. It uses Deep learning to understand, evaluate and produce human-like text. It is based on Language Learning Models (LLM) from the GPT 3.5 series of the company and is currently available in the beta version for all users.

ChatGPT can give a single line or a full-page answer, much like an essay or case study, and everything in between! You can expect ChatGPT to write daily emails, code, case-study, to-do guides, articles, or even school essays soon. It functions as a one-on-one tutor who can address any issue.

No wonder how it reached 1 million users a week after launch! 

As humans make mistakes, sometimes, AI can make mistakes too. However, with the RLHF, Reinforcement Learning from the Human Feedback model, ChatGPT finetunes its data and processing.

2) DAll-E2

DAll-E2 is currently the most famous name in digital art. It is a language model like ChatGPT. While the first version was DALL-E, launched in January 2021, the newest version, DALL-E2, is more capable and accurate. The only difference between the two is DALL-E2 produces pictures instead of text. You have to enter a text or description, and DALL E2 creates a corresponding original image from scratch.

Simply put, with DALL.E.2, you can turn your wildest imagination into art. With its accurate and realistic approach, this trending text-to-art platform is astonishing for people.

3) Natural Language Processing (NLP) 

Text wraps the world of the internet. Earlier, computers used to understand this text by translating it into 0 and 1. But now, with AI and ML, the machine can read and understand this text (or content) in its natural form. The technology behind this evolution is Natural language processing (NLP).

NLP is an interdisciplinary computer science, linguistics, and artificial intelligence subfield.

It provides the capability of understanding, analyzing, formatting, translating content, and accurately extracting the information insights of the content.

Some of the most relatable use cases of NLP are-

Text and Speech Processing-

  • Text-to-speech
  • Speech recognition
  • Speech segmentation
  • Word segmentation (Tokenization)
  • Syntactic analysis

Higher-level NLP applications like

  • Automatic summarization
  • Question answering
  • Text-to-image generation
  • Text-to-video

OCR – Optical character recognition

Grammatical Error Correction: Tools like Grammarly are the most common example of applications using NLP to improve content quality and grammar.

Grammarly Example of NLP4) Tiny ML

TinyML is the intersection of embedded IoT devices and machine learning. It allows IoT devices to analyze the data while saving energy and computational resources. TinyML also defines the algorithm operating on these embedded or edge devices in an IoT system.

The most common example of tinyML is our smartphones’ and home appliances’ “wake” feature. For instance, basic speech and gesture instructions sound like a gunshot or a baby wailing.

Microcontrollers that drive automobiles, refrigerators, and utility metering systems are some examples of TinyML.

Over the past few decades, the size of ML algorithms has been growing big due to the advent of big data and better processor speed. However, TinyML saved from all this time-consuming process. It is one of the fastest emerging machine learning trends transforming numerous segments of the economy.

5) AI Ethics and Regulations

The confluence of AL and ML increases the amount of advanced data generated. These technologies offer endless potential applications. The emerging trends in artificial intelligence are valuable since they have numerous ways to make our life easier.

However, with every technological boon, there also come loopholes to the lookout. In the case of emerging trends in artificial intelligence and ML, such issues are – unethical means such as warfare, illegal acts, breach of privacy, fraud, and terrorism. One recent example is Deepfake. It is an AI-based technology that forges a person’s identity by replacing the real face with a false face identity from an image or video—episodes like Deepfake tweaks the need for AI technology regularization.

A study by Gartner predicts that by 2025, AI regulations will compel businesses to prioritize AI ethics, privacy, and transparency. This step will tame the enterprise strategies.

The EU AI Act, like the EU’s General Data Protection Regulation (GDPR) in 2018, might become a global norm in the years to come, defining how much AI affects your life positively.

Other popular acts to regularize AI are-

The rise in these latest acts of AI technology regularization indicates that companies self-policing AI/ML projects (or not policing at all) are over.

Conclusion

Soon, AI and ML will penetrate deeper into all sectors and continue touching your life more closely.

It is crucial to keep yourself up-to-date with emerging trends in artificial intelligence and machine learning. It will help you shape your business as per the new trend and demands. We offer customized AI solutions ranging from Face recognition, sentiment analysis, predictive analysis, chatbox, and more.

These trends are dynamic. Therefore, we suggest you be a regular visitor of this page. It will help you stay updated and plan your business.

Get AI Enabled Customized Solutions Today!

 

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