AI is clearly making an impact across a diverse range of industries, organizations, and government sectors. As per the McKinsey State of AI report published in November 2020, at least half of the organizations have implemented AI functions. As a result of this reliance on these technologies, Gartner predicts that the global AI software market will reach $62 billion in 2022. Furthermore, according to IDC, the global AI market, which includes software, hardware, and services, is expected to grow 19.6% year over year to $432.8 billion in 2022.

It's clear that companies are implementing AI in their core business, organization, and agency operations, not just talking about it. In 2022, AI will have a significant impact in the following areas:

AI in cybersecurity

The World Economic Forum this year identified cybercrime as posing a more significant threat to society than terrorism. Hacking and cybercrime will inevitably become a problem as machines take over more of our lives. Adding a device to a network increases the risk of an attack. Identifying those points of failure becomes more difficult as networks of connected devices become more complex. However, this is where AI can help. 

Conversational AI

Conversational AI is a technology that enables speech-based interaction between users and platforms to improve user engagement at scale. It requires speech recognition, speech synthesis, natural language processing, and machine learning to construct. ReportLinker forecasted that the conversational AI market would grow from USD 6.8 billion in 2016 to USD 18.4 billion in 2026. 

Voice & Language Driven AI

Speech Recognition, NLP, and Speech Synthesis have advanced significantly. Language models like Open AI's GPT-3 (the most advanced and most extensive language model ever built) have demonstrated AI's ability to generate human-like speech. Almost there: bots can respond with human-like intelligence, evident in their word choice and prosody (the rhythm, stress, pitch of speaking based on context). According to recent reports, customer service will save 8 billion USD per year by 2022. Voice AI will also make waves in the healthcare industry, making advanced diagnostics more accessible. 

Autonomous Vehicles

During the pandemic's last two years, we've seen massive shifts in purchases from offline to online stores, requiring enormous foot traffic. For example, motional, a $4 billion autonomous driving joint venture between Hyundai and Aptiv, has announced an Uber Eats delivery service. Likewise, Amazon uses drones to deliver packages and test self-driving cars. In 2026, autonomous vehicles will collect up to 35% of passenger data.

Metaverse

Metaverse simulates real-world environments and characters using speech API, computer vision, and natural language understanding. It allows humans to interact and collaborate in their life-like avatars. The end of 2021 saw significant announcements from Facebook, Nvidia, and Amazon about their forays into the digital future. Due to the pandemic-driven shift to a digital world, Metaverse would grow outside gaming and media. In addition, H&M has opened a virtual store in the Metaverse. Moreover, the Metaverse will become more accessible to mainstream users this year, with more immersive films, digital stores, social networks, and digital tourism frontiers opening up.

Creative AI

In the past, we've seen AI used to create video games. In 2022, new models like GPT-4 and Google's Brain will redefine what is possible. Rather than solely demonstrations or experiments of AI's potential, authors will increasingly use these creations for routine creative tasks like writing headlines for articles and newsletters and designing logos and infographics. Seeing creativity in machines means "artificial" intelligence is undeniably getting closer in scope and function to our somewhat nebulous concept of "real" intelligence.

Low code/ no-code AI

Every industry is looking into how to use AI to improve their business. But unfortunately, very few people know how this technology works and how to use it effectively. In the past, more people could make AI-based business ideas. However, the more people aren't good at AI and ML, the more companies will look for low-code or no-code AI and ML tools. So, while only a few experts will work on the machine learning models, their implementation and use of them will be open to everyone.

Conclusion

AI is transforming our lives due to market trends. Companies are clearly implementing AI in their core businesses, organizations, and agency operations, rather than simply talking about it. In 2022, these are the areas where AI will be most prevalent. These changes are a part of our lives and the lives of future generations. By 2023, we will need to use more AI-based devices to make our work more accessible and efficient. Businesses that invest in training for new technologies will prosper, increase returns, and expand societal opportunities.