K
Kathleen Martin
Guest
Artificial intelligence (AI) has already changed our lives in many ways. Applications of the science are visible in smartphone assistants, helpful search engines that seem to predict your thoughts, automated financial advisors, and even automobiles that warn of potential traffic hazards. In the industrial world, companies in sectors such as heavy industry and oil and gas have been using AI to drive value for more than a decade.
But humanity has barely scratched the surface of AI’s tremendous potential. The coming year will see a wider adoption of AI in business and industry. Gartner predicts that worldwide AI software revenue could total $62.5 billion in 2022, an increase of 21.3% from 2021 – a trend only partly attributable to the accelerated digital adoption resulting from the pandemic. Organizations will also continue spending on AI to streamline their operations, reduce costs, boost efficiencies, and foster value chain resiliency.
At the same time, the way AI is deployed is changing. Here are three ways that AI could be deployed in 2022 and beyond.
Multiple types of AI are coming together
The term AI encompasses many different scientific technologies that are applied in various ways. Machine learning algorithms, for example, use data models to make predictions. Reinforcement learning enables intelligent systems to test new approaches and adapt according to failure or success. Natural language processing helps computers communicate with humans, among other use cases.
We are now beginning to see multiple types of AI being applied within a single software environment to deliver an elevated solution. These different subfields – each a unique technology – are beginning to work together to enhance organizational capability and improve business value.
Through a combination of AI and physics-based simulation, for example, we see cutting-edge analytics at work in predictive asset optimization, where probable asset failures can be forecast alongside the provision of an optimized set of actions to mitigate losses. Machine downtime and production losses can thus be eliminated, evolving over time into self-healing autonomous machines, potentially saving hundreds of millions of dollars along the way for large industrial businesses.
Human ability gets extended with AI
AI systems are a natural partner for human intelligence, and we will see this synergy play out over the next few years as the world embraces the concepts behind Industry 5.0. Already, artificial intelligence models help human decision making by providing data-led insights to improve value and sustainability – something AVEVA calls Performance Intelligence.
Continue reading: https://www.cio.com/article/303978/ai-is-maturing-it-will-have-a-transformative-effect-on-industrial-operations.html
But humanity has barely scratched the surface of AI’s tremendous potential. The coming year will see a wider adoption of AI in business and industry. Gartner predicts that worldwide AI software revenue could total $62.5 billion in 2022, an increase of 21.3% from 2021 – a trend only partly attributable to the accelerated digital adoption resulting from the pandemic. Organizations will also continue spending on AI to streamline their operations, reduce costs, boost efficiencies, and foster value chain resiliency.
At the same time, the way AI is deployed is changing. Here are three ways that AI could be deployed in 2022 and beyond.
Multiple types of AI are coming together
The term AI encompasses many different scientific technologies that are applied in various ways. Machine learning algorithms, for example, use data models to make predictions. Reinforcement learning enables intelligent systems to test new approaches and adapt according to failure or success. Natural language processing helps computers communicate with humans, among other use cases.
We are now beginning to see multiple types of AI being applied within a single software environment to deliver an elevated solution. These different subfields – each a unique technology – are beginning to work together to enhance organizational capability and improve business value.
Through a combination of AI and physics-based simulation, for example, we see cutting-edge analytics at work in predictive asset optimization, where probable asset failures can be forecast alongside the provision of an optimized set of actions to mitigate losses. Machine downtime and production losses can thus be eliminated, evolving over time into self-healing autonomous machines, potentially saving hundreds of millions of dollars along the way for large industrial businesses.
Human ability gets extended with AI
AI systems are a natural partner for human intelligence, and we will see this synergy play out over the next few years as the world embraces the concepts behind Industry 5.0. Already, artificial intelligence models help human decision making by providing data-led insights to improve value and sustainability – something AVEVA calls Performance Intelligence.
Continue reading: https://www.cio.com/article/303978/ai-is-maturing-it-will-have-a-transformative-effect-on-industrial-operations.html
