To keep abreast of how new technologies are affecting businesses, you need to keep up with the news and learn what the experts think. Machine Learning remains one of the most in-demand technologies this year and will continue to be so next year. This technology will be in demand in many fields, and its collaboration with other technologies will open up a sea of growth opportunities for companies.
Here are some answers from a few experts who talk about trends and the future of ML in cybersecurity, marketing, and ML and AI collaboration.
“Machine Learning has existed in one way or another for decades, but it has created significantly more buzz in recent years with the rise of sophisticated AI-powered threats. As we know, hacker are using the latest technology to increase the speed and reach of their work, ML is a tool many cybersecurity professionals are exploring to detect abnormal network and traffic patterns. While certain risks are involved, I think there’s plenty of evidence to suggest ML will play a significant role in cybersecurity over the coming years.
I think there will be an increasing demand for ML in cybersecurity over the next year. However, it’s important to realize this approach has complex limitations. For example, training these models properly relies on access to immense amounts of reliable data, which can lead to compliance concerns.
There’s also the issue of what we call alert fatigue. As ML tools in cybersecurity can generate high rates of false positives, it could cause human security teams to ignore warnings, meaning they overlook genuine threats. You could also experience false negatives that lead to damaging breaches.”
“Machine Learning is shifting from pure prediction to actionable business intelligence, I have noticed while implementing ML solutions across our marketing stack — visible trends in our latest projects for 2024.
Here is a case of developing a hybrid ML model for a customer from the retail sector, integrating data about customer behavior with an inventory management system. The conclusions were impressive: a 34% cut in stock outs and an improvement in cash flow by 28%. So, this is how ML merges with traditional business operations.
Below are the five most salient trends I see:
- Personalization at scale: Our ML-powered email campaigns are 89% more engaging when processing over 50 real-time customer points.
- Edge computing integration: Processing data locally eliminates a 76% delay in our mobile app recommendations.
- Auto-ML democratization: By having our non-technical marketing team build custom prediction models, we can decrease our reliance on data scientists by an average of 65%.
- Privacy-preserving ML: We held model accuracy at 94% yet stored all customer data on the device using federated learning
- IoT + ML convergence: Smart sensors with ML reduced warehouse operations costs by 42%.”
“Upcoming trends in this field include real-time video synthesis, which enhances employee training, agent engagement, and corporate communication for greater efficiency and engagement. By harnessing the marvel of real-time video synthesis, businesses can eliminate the need for manual video recording, allowing for video creation akin to a real person speaking with just a simple text input. This translates to cost and time savings, a distinct advantage.
AI humans are another trend that will be commonly implemented for internal employee training, promotional videos, staff announcements, and corporate events. These AI human interfaces closely resemble real individuals, using cutting-edge deep learning-based video synthesis technology. This technology enables the creation of interactive AI-human videos capable of real-time conversations.
Machine Learning will need to collaborate with AI workspaces that create a shared space for teams to collaborate on projects. These work spaces maximize productivity and organization while allowing simple collaboration from members across organizations. AI scripts can be created through text generating software, which can sync with ML systems to supercharge the workflow of creation.
The areas that will be in demand for ML are digital marketing, e-commerce, and social media. In digital marketing, AI has already been used to transform content creation and customer engagement. In the next year, it is expected that chatbots, voice-to-text systems, and virtual assistants will become commonplace in work environments, automating routine tasks to create time for more strategic work. As AI continues to make its way into homes, devices like smart speakers and smart homes will become a popular source for gaining customer insights and purchase patterns. By integrating voice search technology into these smart devices, users will be able to place orders or find the nearest coffee shop by simply talking. On social media, video content will continue to become commonplace as consumers shift towards bite-sized content. Brands can quickly create videos through AI studios, incorporating AI avatars and script writing software, saving time and effort.”