Will AI end the ownership era and help us rent even our clothes? Or will it help rescue the fall of brick and mortar? Is it HAL 9000 from Space Odyssey or is it still having a hard time to distinguish the difference between a sleeping cat and a black box lying on the floor?
Some experts are linking the future of human race with AI while others are claiming we are giving it too much credit before seeing any kind of tangible outcome.
Thanks to Gil Press from Forbes, we got the insights from 100+ industry leaders about their forecast what AI will help us do in 2019.
Here is our TOP5 pick:
- AI will accelerate the end of ownership
“Today, we don’t own movies or music anymore—we subscribe to Netflix or Spotify. Tomorrow, we won’t own products anymore—we’ll subscribe to them. AI platforms are in the midst of turning every manufactured product on the planet into a connected ‘smart’ product. Today you can see that trend happening in transportation and consumer electronics—cars, scooters, washing machines, coffee makers, thermostats, etc. But soon you’ll start seeing it happen everywhere—tables, chairs, floors, walls, clothes. As a result, we won’t need to own anything. We’ll simply subscribe to services: housing services, food services, transportation services, furniture services, clothing services. We’ll be living in a true Subscription Economy”– Tien Tzuo, CEO & Founder, Zuora
- AI is not about flying cars but making people and processes smarter
The hype around AI technologies that match human intelligence in some abstract form is drowning out the fact that today, there is real value in AI tools that collect, organize and make actionable the collective human experience. AI is not HAL 9000 from Space Odyssey. In 2019, AI will be about making people smarter, more effective, and more productive. It will also make people happier in their jobs – especially IT professionals. For enterprise IT, 2019 will be the year that AI will enable teams to move beyond simple task automation, to empower the robotization of entire processes. By tapping the applied collective knowledge of thousands of users and millions of process executions with AI, IT teams will be able to preemptively streamline application development, troubleshooting and even one-off daily requests. AI will bring them much needed help, backed by more knowledge and experience than any single human could bring to bear”—Neil Kinson, Chief of Staff, Redwood Software
- Will it be the savior of the retail?
“AI will help elevate in-store customer experiences. AI will be used to help stores elevate customer experiences and build loyalty in ways that were previously impossible. When customers shop online, they often receive personalized recommendations and offers. Retailers have tried in the past to use beacon technology to enable the same level of personalization, but beacons are largely considered a failure because they require specific app downloads, Bluetooth connections or other factors that vastly limit their usability. This problem will be solved by AI-trained face recognition algorithms. In 2019, customers that opt-into face recognition programs will gain numerous in-store benefits including personalized discounts, white glove service and shorter wait times. Retailers will finally be able to offer customers the same level of personalization in stores as online”—Peter Trepp, CEO, FaceFirst
- AI can be used as a digital weapon for fraud
“As more businesses rely on AI to fuel their own products, services and data-driven marketing innovations, bad actors across the digital ecosystem will utilize similar capabilities to increase their efforts and execute massive fraud schemes, resulting in hundreds of millions of dollars in losses for brands and marketers. With that, companies that invest smartly in AI and machine learning-based fraud protection tools will be able to clearly ‘see’ the entire ecosystem and protect themselves from fraud and the polluted data that impacts business decisions—leading to a significant competitive advantage”—Ran Avrahamy, VP, Global Marketing, AppsFlyer
- Finally building the bridge between cause and effect?
“Machines will begin to understand cause and effect—today, when machines (such as chatbots and virtual assistants like Siri and Alexa) respond to us, it’s purely based on correlations. They do not have an understanding of causation. But as machines are getting more disparate sources of data, they will begin to better understand the causal relationship between a large set of variables. As humans, we learn about cause and effect over time through pure common sense. In 2019, we’ll see this come to fruition with machines as we collect and feed them more disparate data sources that enable them to build conditional probability distribution to understand the direction of causality”—Michael Wu, Ph.D., Chief AI Strategist, PROS