Review: Artificial Intelligence in 2018

Artificial Intelligence is not a buzzword anymore. As of 2018, it is a well-developed branch of Big Data analytics with multiple applications and active projects. Here is a brief review of the topic.

AI is the umbrella term for various approaches to big data analysis, like machine learning models and deep learning networks. We have recently demystified the terms of AI, ML and DL and the differences between them, so feel free to check this up. In short, AI algorithms are various data science mathematical models that help improve the outcome of the certain process or automate some routine task

However, the technology has now matured enough to move these data science advancements from the pilot projects phase to the stage of production-ready deployment at scale. Below is the overview of various aspects of AI technology adoption across the IT industry in 2018.

We take a look at the parameters like:

• the most widely used types of AI algorithms,
• the way the companies apply the AI,
• the industries where AI implementation will have the most impact
• the most popular languages, libraries, and APIs used for AI development

Thus said, the numbers used in this review come from a variety of open sources like Statista, Forbes, BigDataScience,

The most widely used types of AI algorithms

There are multiple types of ML models suited for various purposes. Various algorithms are used for supervised, unsupervised and reinforced machine learning, optical character recognition, speech and text recognition, etc. The four most popular algorithms are decision trees, Natural Language Processing (NLP) tools, linear regression, and neural networks.

The ways the companies use the AI

AI algorithms have mostly surpassed the stage of pilot projects and are currently on various stages of company-wide adoption. 36% of businesses in the US and EU are actively investing in their AI initiatives, 31% are planning to do so in the nearest future and 17% have already embarked on their digital transformation journey and now reap the benefits. Only 16% of the companies that responded to these surveys did not plan to invest in AI technologies. Well, as the great American engineer and speaker William Edwards Manning has said “It’s not necessary to adapt. Your survival is not imperative”.

The industries where AI will disrupt most

What about the industry gradation? It’s well and simple to say that AI will benefit literally any business, but what about pointing out the industry-specific benefits? This can be easily done, as literally any company that works with Big Data analytics can greatly benefit from data analysis augmentation with AI algorithms. 360-degree customer view is equally beneficial for healthcare, finances, banking, insurance, marketing, travel, etc.