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AI Trends That Will Dominate 2022

April 15, 2022

by Analysts

In a recent statement when Google CEO Sunder Pichai compared the emergence of artificial intelligence with the invention of fire and electricity, it seemed to be a bold statement. But if we look at the transformative effect this technology brings about in every sphere of human life, we can understand where the Google CEO is coming from. Be it space exploration, treatment of chronic diseases, tackling climate change, or simplifying financial decision-making for big corporates, AI is making a big difference in every sphere.

Despite the hue and cry raised by certain sections of the intelligentsia about the dangers of AI, the fact remains that this technology is transforming lives. The phenomenon of advancements in AI is all-pervasive. Be it industry, business, or government agencies, every sector is making considerable investments in this technology. To put things in perspective, here are a few facts and figures about AI and machine learning:

  • The global artificial intelligence market size will grow from $93.53 billion in 2021 to $997.77 billion in 2028.
  • The U.S. artificial intelligence market size forecast for 2026 is $299.64 billion.
  • The artificial intelligence market size will expand at a Compound Annual Growth Rate (CAGR) of 40.2% from 2021 to 2028.
  • By 2025, AI trends forecast that the demand for workers in the industry will be around 97 million people.
  • Statistics predict that the artificial intelligence market size will continue growing by at least 120% annually.

(Stats source: https://explodingtopics.com/blog/ai-statistics)

These statistics prove that AI will play a significant role in our lives in the years to come. Now let’s look at the AI trends that will dominate 2022 and how these trends will transform industries and businesses. 

AI to make a big difference in cybersecurity

According to GlobeNewswire, artificial intelligence in the cybersecurity market is expected to reach $46.3 billion in 2027. If we consider the projected market value of cybersecurity ($345 billion) by 2026 (MarketsAndMarkets), we can understand the value of AI. These trends further imply that in 2022 financial institutions will make significant investments in AI to protect online transactions from cybercrime. And it makes a lot of business sense because the network of connected devices is increasing rapidly. Finding out points of failure in such vast networks will become increasingly complex and labor-intensive. In such a scenario, AI can play a significant role in mitigating the risks of cybercrime. 

AI will boost workplace maintenance

While a group of tech experts is apprehensive about the future of human workers due to the increasing use of AI in workplaces, industries are making big investments in AI to boost productivity. This trend will gain more traction in 2022, resulting in more intelligent workplaces. In AI-powered offices, companies will be able to create AI-based work ethics where humans will leverage the cognitive functionality of machines to boost productivity. In heavy industries and manufacturing units, AI tools will help provide predictive maintenance in machines, thereby increasing units' overall efficiency and productivity. 

Low-code and no-code AI will rule the roost

The one big stumbling block to creating AI-enabled workplaces is the workers' limited understanding of complex algorithms and codes. It takes a lot of time and effort on the part of companies to find and employ the rightly skilled workers and create a technology-driven work environment. But artificial intelligence has a solution to this problem in the form of no-code and low-code offerings. Just like the no-code UI tools enable developers with limited coding skills to create responsive websites, AI’s no-code tools will be a boon for unskilled workers. 

Conclusion

Misgivings and apprehensions about the spread of AI notwithstanding, the technology is taking roots in every sphere of life. Given the trends discussed in this article, it would be only a matter of time before AI transformed workplaces and businesses worldwide.