Trends AI Developments. What Will the Market Need in 2020

Published in

GoBeyond.AI: E-commerce Magazine

8 min readJul 15, 2019

AI technology is promising significant value for businesses. This post will cover the top 10 artificial intelligence trends and innovations that the market will need in 2020

In today’s digital landscape, artificial Intelligence technologies will be presented across a wide number of industries and definitely implemented into our daily lives by 2020. Not only have these technologies impacted software, but they also greatly influence other verticals such as healthcare, legal, manufacturing, automobile, and agriculture.

According to Gartner’s recent prediction, AI will become one of the top five investment priorities for at least 30% of CEOs by 2020. What is more, Deloitte’s recent study found out that 82% of companies that have already invested in AI technology have gained a positive return on their investment. For companies among all industries, the median return on investment from AI-powered cognitive technologies is 17% that means that AI is both changing daily life and business processes.

In addition to that:

44% of respondents state that current products are being enhanced;
42% of respondents agree that internal operations are being optimized while 32% of respondents think the same about external operations;
35% of respondents find that business decisions are made faster and better.

Having that in mind, we see a dramatic rise in artificial intelligence implementation. What are the latest innovations in artificial intelligence? What artificial intelligence future trends will the market need in 2020? Here we are going to reveal the recent trends in artificial intelligence development and how they influence various sectors. So let’s delve into details below!

Trending GoBeyond.ai articles:

1. Best Practices for Managing E-Commerce Customer Service
2. Top 15 Magento 2 Extensions For Your E-Commerce Site
3. How Free Influencers Took My Brand To Global Success
4. The Coming Disruption to E-Commerce Search

Top 10 AI trends that the market will need in 2020

Below we have identified the hottest AI trends that any company should know about to serve its customers better in 2020. Let’s take a look at artificial intelligence latest innovations!

1. AI-driven shift in the workforce

Many businesses and individuals are optimistic that this AI-driven shift in the workplace will result in more jobs being created than lost. However, it is likely that artificial intelligence will soon replace jobs involving repetitive or basic problem-solving tasks. Moreover, AI-powered systems will make decisions instead of humans in industrial settings, customer service roles and within financial institutions.

An automated decision will be responsible for the following tasks:

approving loans;
deciding whether a customer should be onboard;
identifying corruption and financial crime.

In addition, current artificial intelligence technology will also help people do their jobs much better. A call center employee, for instance, can get instant intelligence about what the caller needs and do their work faster and better.

Discover Latest Jobs in Bots, NLP, AI, ML, NLU & More

2. NLP and speech recognition

With great polished speech recognition and NLP solutions, businesses are powered with usable information that delivers business value. According to PwC recent report, customers prefer to talk with chatbots that make them the second preferred communication channel. They are available round the clock and response quickly.

Also, NLP is applied in another artificial intelligence trend — virtual assistants. Juniper Research predicts that chatbots will save companies up to 8 billion U.S. dollars annually by 2022.

According to Deloitte, 64% of smartphone users prefer to communicate with their virtual assistant (Apple Siri, Google’s Assistant). Moreover, Gartner predicts that up to 25% of companies will have integrated a virtual customer assistant or a chatbot into their customer service by 2020.

Here are some popular chatbot applications:

Mentioned above smart AI-powered chatbot apps can help businesses with many tasks — from increasing productivity to booking a flight. And all within one application!

3. Computer vision surveillance capabilities

Artificial intelligence has been added to computer vision processing to surveillance networks that help “aware” systems to protect property, manage the traffic flow, and even improve operational efficiency in e-commerce, banking, etc. It is a fact that vision processing is significantly changing the way how the industry operates. Not only allows computer vision to deploy people and other resources smarter, but it also enhances situational awareness.

Basically, it includes vision algorithms and applications. MarketsandMarkets reported that the computer vision market is expected to reach more than 1 billion U.S. dollars by 2023, at a CAGR of 7.80% between 2018 and 2023.

The growth of the market is mainly driven by the increasing adoption of computer vision in the following devices:

autonomous vehicles;
advanced cameras;
image sensors, etc.

However, keep in mind that these are not all devices listed above that can be used in business.

4. Deep Learning

Being a current trend in artificial intelligence, deep learning is also the technology behind driverless cars, voice control as well as image recognition. With the introduction of both Amazon’s Alexa and Google home, we can find a vast number of voice-enabled applications that apply deep learning — natural language processing (NLP) algorithms.

That’s why with increased interest in the next generation of deep learning algorithms that can solve the most complex problems, companies will focus on deep learning solutions to implement into their businesses.

Here are a few deep learning applications:

The apps listed above accelerate business processes, help to apply data insights more effectively, facilitate customer success and prevent fraudulent activity. Their main goal is to use customer and policy data to help companies drive more growth.

5. Focusing on voice search and smart speakers

In today’s world, more people are getting comfortable with using voice assistants to perform tasks like searching the web. According to the recent report, about 30% of all searches will be done through smart speakers by 2020. Moreover, based on the National Public Media report, there are more than 40 million smart speaker users in the U.S. alone.

Do you want to know who is shopping via smart speakers? Let’s find out!

58% of respondents ordered a new product that didn’t buy previously;
57% of respondents have shopped;
25% of respondents have spent over 150 U.S. dollars on a purchase.

As you can see, people become more accustomed to interacting with voice-powered devices. That means that smart speaker sales will continue to rise, and the use of voice search will increase accordingly.

This global movement to perfect voice technology means businesses should focus on voice search to stay ahead of the competition and capitalize on voice search.

6. AI and Blockchain Synergy

Both AI and blockchain work on the principle of analyzing vast amounts of data and solving the issues of specific industries. Blockchain and AI seem to be incompatible at first glance — blockchain has some challenges as security and scalability, while AI suffers from privacy and trust issues.

According to the recent report, the global blockchain market is going to reach 25 billion U.S. dollars by 2025.

However, when combining blockchain can power decentralized data marketplaces and help AI-fueled algorithms to be more trustworthy and transparent. For example, data privacy startup Enigma allows organizations to secure data marketplace that users can subscribe to and consume through smart contracts.

7. AI discovers atypical risk factors

In healthcare not only can AI perform administrative tasks but it can also accomplish clinical healthcare functions. You might have heard about IBM Watson-Oncology that picked up drugs for the treatment of cancer patients with equal or better efficiency than human experts.

The recent report states that AI health market growth is expected to reach 6.6 billion U.S. dollars by 2021. In addition to that, using the latest technology in artificial intelligence, researchers are starting to study and measure unknown risk factors that were previously difficult to quantify.

Here are some examples of AI startups in healthcare:

Cardiogram suggests algorithmic approach showed 85% accuracy in detecting diabetes from heart rate. Another emerging application is using blood work to detect cancer.
Freenome uses AI to find patterns in cell-free biomarkers circulating in the blood that could be associated with cancer.

As you see AI’s abilities in healthcare are enormous.

8. Well-polished content with AI help

It is a fact that creating engaging content and performing other business tasks is time-consuming and tedious. The solution for an increasing amount of work is the current artificial intelligence technology adoption.

A recent survey by Salesforce reported that 27% of marketers are planning to adopt AI tools by the end of 2019, while 51% of marketers are already using AI-powered tools on a regular basis.

Sounds impressive, right? That means AI holds great potential for the content creation industry — marketers will generate content more quickly and promote it more effectively.

9. Quantum Computing

Progress in artificial intelligence technology could be accelerated by making quantum computing accessible. The fact is that if you speed up computing, you will enhance the performance of deep learning.

For example, the parallel processing capabilities of GPUs (graphics processing units) helped accelerate AI deep learning by providing greater computational power than serial processing CPUs (central processing units) to process terabytes of big data used for machine learning.

Quantum computing may greatly accelerate AI deep learning by enabling greater computational speed and power. As a result, we could solve almost unsolvable problems like climate change, Earth-like planets presence in the galaxy or our body’s ability to destroy cancer.

10. AI predictive capabilities in logistics

The predictive analytics solutions in the logistics and supply chain are on the rise. Accenture reveals the following:

36% of organizations of any size have successfully adopted AI for logistics and supply chain processes;
28% of the survey respondents are at the threshold of deploying AI in this field.

The capabilities of AI are seriously ramping up company efficiencies. Having AI-powered tools for accurate demand forecasting and capacity planning allows logistics companies to be more proactive — they will definitely know what to expect.

Having that information in mind, they can do the following:

decrease the number of total vehicles needed for transport;
direct vehicles to the locations with the high demand;
significantly lower operational costs.

Moreover, freight forwarders can predict if the average daily transit time is expected to rise or fall up to a week in advance. Also, AI-fueled algorithms can identify other factors which could influence shipment delays like climate and operational variables.

To sum up, AI trends will have disrupted many industries by 2020. With so many benefits, it’s not surprising that AI is already being employed by many companies. One of the unique features of artificial intelligence is that it’s extremely flexible and can be used for nearly every business needs. That’s why it’s high time to bring AI to business processes within your organization, and we, at Pro Vision Lab company, are ready to help you.