Mega Trends in AI & Machine Learning: Piyush Chowhan, CIO, LuLu Group International

Artificial intelligence will reach human levels around 2029. Follow that out further to, say, 2045, and we will have multiplied the intelligence of the human biological machine intelligence of our civilization a billionfold.

The above forecast might raise a lot of eyebrows, but the pace of adoption of Artificial Intelligence solutions is unprecedented. The importance of AI solutions as part of the digital transformation journey is visible as every individual is impacted by the power of AI solutions. · Hyper Automation Enabled by AI and ML Each organization needs to define its innovation journey to become an Intelligent Enterprise.

 AI and ML solutions are going to play a pivotal role in making enterprises adopt automation which will enable them to do jobs much better. This is a journey that enterprises need to embark on starting from simple RPA solutions and evolving towards highly sophisticated hyper-automation solutions. Most of the repetitive jobs must be done by bots shortly which will not only drive speed but also provide a lot of insights for better delivery of outcomes.

“Each organization needs to define its innovation journey to become an Intelligent Enterprise”

·IOT and Edge Technologies are getting more power by AI and ML solutions ­ There is an explosion in edge devices and this going to be getting an extra boost to interaction with branch offices or customer interactions at the edge.

The creation of a large number of connected sensors is providing huge data collection opportunities in agriculture, healthcare, and consumer-related technologies. These data are then being used for better management of crops, patients, or customers thus opening a huge opportunity for the use of AI and ML tools.

5G technologies will help in communication between IOT devices and the cloud without near-zero latency which will help in making automation real. ·Smart Factory and Industry 4. 0 is getting a huge boost with the advancement of AI and ML models. It's predicted that AI-enabled robots will be able to take over 60 percent of precision jobs in factories once 5G communication becomes readily available.

Post-COVID there is a huge push towards nearshore manufacturing and modern factories will be built with modern robotics which can significantly enhance the entire global manufacturing supply chain. There is a strong push towards creating of Digital Supply chain twin with the help of AI and ML models where various scenarios can be tested.

This digital twin can help in accurately making manufacturing decisions thereby enhancing productivity. Interactive commerce with the help of bots is already a reality and will be enhanced in the coming years significantly. AI models can help understand customer behavior which will help in personalization and targeting for better interaction than human beings. ·

AR/VR applications will emerge ­ The current AR/VR solutions are still maturing to give a near real-life experience, but the advancements are moving much faster. It's predicted a large part of interactive commerce will be done by AR/VR channels by 2025. 5G streaming will also provide the necessary boost to have virtual stores that will have near real-life experience to feel merchandise as well as interact with selling agents.

The fast move towards virtual working will also be boosted by this advancement of AR/VR technologies. The above use cases are going to boost the way we work, shop, and interact at a pace that was not seen in the past few decades. These biases can have long-term impacts and hence Ethical AI is the need of the hour and everyone must have a responsibility to build a responsible society.

We need to ensure that with this explosion of data, we keep on building solutions that can help in the reduction of the carbon footprint in the long run.

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