The time for self-driving cars is already here. A permit was awarded to Nuro — the state’s first commercial permit for self-driving cars — from California’s Department of Motor Vehicles (DMV) in late December 2020.
This permit allows it to operate autonomous vehicles commercially on the roads of two counties. Welcome to the world of Artificial Intelligence and Machine Learning, wherein soon everything shall be autonomous and automated.
What’s Next? Machine Learning 2021
As per current reports, 65% of companies who are planning to adopt machine learning say the technology helps businesses in decision-making. In the article, we shall help you further understand and analyze these developments.
What is Machine Learning?
The current big data technology developments are churning out eons of data every second. But, what exactly should be done of this data if it cannot be well utilized well. Machine Learning ensures that the data patterns and processes thus created are utilized well to “train” machines as to how things need to be done.
Humans have forever tried to develop machines that could understand and analyze facts like humans and make decisions on their own, just like a human brain.
Under the purview of Artificial Intelligence, concepts and algorithms that are actually making machines smart enough to make autonomous decisions are called Machine Learning.
So, if an autonomous car decided to lower its speed in the forthcoming times, it is a Machine Learning led decision.
Trends that shall define the evolution of ML in 2021
Machine Learning makes a machine “smart.” With various applications and trending innovations in this circuit, there a plethora of developments in terms of businesses as well as products and services that shall be on offer for the users in 2021:
Have you ever noticed the insightful and customized recommendations that Netflix offers its users as per their current “watchlist?”
In fact, it is now one of the most effective ways for the platform’s content creators to get found. Even the Amazon recommendations based on your earlier choices and orders are Machine Learning initiated.
With user experience topping the requirement list of all online businesses, 2021 is sure to witness several developments on these lines with more complex and thorough usabilities.
Do you know about Google Lens and its various ML algorithms? The platform basically transforms machine-created images into virtual search options, leading the user to search for the related information online.
It is the best application development framework and basically involves image-based search rather than regular text-based searches. Lens uses computer vision, machine learning, and Google’s Knowledge Graph to make things work.
Mobile Apps like Facebook and Instagram also utilize similar algorithms to help users auto-tag their friends. Already a rage in the online community, the developments in this field are further touted to get more advanced in the upcoming times.
More than half of all smartphone users have engaged with voice technology on their device in one form or the other. It is the future of how the world searches.
In-home voice-based searches through Alexa and Google-home have been transforming the complete user experience of varied connected devices as well. Further developments on these technologies include more streamlined conversations (without wake words like ‘ALEXA’ or ‘GOOGLE’) using evolved Machine learning-based NLP (Natural Language Processing).
There are algorithms, as well, as better compatibility and integrations within various connected devices and software. These developments are further set to evolve in 2021.
The ever-evolving Chatbots
Chatbots have been deployed to care for the customer relation management and HR verticals of businesses (especially in this COVID-19 era) with aplomb.
They are the new technology tool helping clients digital assets like websites, mobile apps, etc., to communicate with the users without any time-lapse. Basically, chatbots are of 2 kinds. The basic ones pick up trending keywords and provide viewers with answers already fed in the system.
However, the modern chatbots are of the second type wherein AI, and Machine Learning algorithms are being utilized to make them smart by helping them understand user requirements through the data they input.
With machine learning chatbots continuing to advance in 2021 as well, we are entering an age of intelligent automated shopping assistants that will make the overall experience smarter, to say the least.
Machine Learning and IoT devices
As you likely know, you can connect your Dyson to Alexa and control it. You can work to gain the same connectivity within the varied range of connected devices all around us. The list of such devices includes smartwatches, smart refrigerators, smart clothes, to name a few.
Reports suggest that the IoT market revenue is $212 billion worldwide. By 2025, there are expected to be more than 75 billion devices globally. Slowly, but gradually the systems monitoring and controlling them are touted to get smarter with more and more integration of ML-based algorithms.
The integration of these two technologies shall fire on the base platform to develop smart cities of the future. The concept and its related applications are already under development and are sure to come under real-time usage in many forms in 2021.
The culmination of these technologies shall enable the development of various smart new application ideas in the form of startups as well.
The technologies have also been playing quite a pivotal role in IIoT developments. IoT predicts the time at which a system or component will no longer perform its intended duties. ML can be effectively utilized in machine prognostics to end function, helping businesses predict machine issues, breakdowns, etc., leading to increased efficiency.
Machine Learning is now the choicest platform for Business Growth
A report by Crunchbase says that “Artificial Intelligence (A.I.) and machine learning (ML) related companies received a record $27.6 billion in funding in 2020.”
The trend is further set to evolve and expand in 2021, with more and more companies taking up the challenge to develop smarter gadgets and systems for more autonomous work and lifestyle.
These trends are sure to take a prominent part in these developments.
Image Credit: yan krukov; pexels; thank you!