Five Predictable Developments In Machine Learning For 2023
From early-stage businesses to multinational conglomerates, machine learning has had a profound effect on every sector of the global economy. Fortune Business Insights estimated the worldwide machine learning market size to be $15.50 billion in 2021 and predicted that it would increase to a staggering $152.24 billion by 2028 at a CAGR of 38.6 percent.
In light of the current rate of machine learning expansion, 2023 should follow a similar pattern. We take a look at the top five predictions for machine learning in the next year.
1. Blockchain Technology Is Combined With Artificial Intelligence
Blockchain, the underlying technology underpinning cryptocurrencies like Bitcoin, has various practical applications for commercial enterprises. With this technology, all transactions are recorded in an impersonal, distributed ledger, fostering trustless communication between all parties. Furthermore, once a blockchain is updated, no transaction can be undone or altered.
It is anticipated that blockchain would eventually integrate with machine learning service and AI since the two technologies have several complementary qualities. This involves the use of a distributed ledger that is both open and immutable.
2. Ai-Powered Self-Service Tools
AI-based solutions and self-service technologies have been used by a number of companies to improve efficiency. Bots on chat platforms like Messenger and Skype are helping large tech businesses streamline self-service processes.
For instance, when you look for a place in Google or another search engine, the “Get Directions” option should appear immediately. You’ll be able to go to your location quickly and efficiently thanks to this information. If this trend continues, machine learning will one day be able to provide an entirely automated experience for consumers shopping for goods and services.
3. Customized Ai Helpers And Search Engines
Everyone nowadays is familiar with virtual assistants like Siri and Alexa. These voice assistants can do a wide variety of things, like booking flights, making payments, playing music, and even sending messages to friends, family, and coworkers.
In the future, these chatbots may be able to perform highly customized services like providing legal counsel on a wide range of issues, making crucial business choices, providing highly tailored medical care, etc.
Google and Bing analyze data to deliver relevant results. Search engines may now scan user profiles for relevant results.
Google may show you ads for comparable items if you search for “sports shoes to buy” Search engines may now deliver more personalized results based on your input.
4. Comprehensive Intelligent Help
As personalization advances, intelligent helpers will drive, cook, and shop for us. These are high-end alternatives to human-mediated services like booking tickets or consulting a doctor.
If you’re sick, call for assistance. Based on your details, a highly-rated local doctor will see you. The assistant will schedule a hospital Uber.
5. Individual Healthcare Technology
Wearable medical devices are common. These devices can assess heart rate, blood sugar, and salt levels. As machine learning and AI grow more common, such devices will have more data for their users.
Health data collected by wearable devices will be analyzed in real-time, allowing for accurate diagnosis and tailored treatment plans. Wearable sensors will also be able to recommend a battery of health checks in emergency situations. The person may even make an appointment with a neighboring professional.