Why AI Is the Primary Driver of Innovation

Why AI Is the Primary Driver of Innovation

Artificial Intelligence (AI) appears to be at the top of CIO lists, as a technology that has the potential to provide considerable value in the near future.

This year, AI transitioned from an emerging technology to a necessity. The emphasis has shifted toward AI-enabled transformation that finds solutions for larger-scale corporate issues. Although AI is a great enabler, the time for science projects and proofs of concept is swiftly running out. Expect AI engagements to grow in size, strategic importance, and mission-criticality in 2022, emphasizing long-term scalability. In a recent study by IEEE, Most Important Technologies in 2022, almost all (95%) of the CIOs, CTOs, and technology leaders agreed that AI would be the primary driver of innovation in the next one to five years across almost every industry area.

Most CIOs will find that difficult to deal with. Many commercial IT firms are still learning the ropes regarding AI outside of the tech giants. Because AI has a wide range of applications, one of the main issues facing CIOs is making sure their investments are going towards the use cases that will yield the highest ROI.

AI trends to watch

Against that backdrop, IT leaders will be wise to keep an eye on several more developing trends in AI this year.

Data wrangling tops the agenda

Most businesses are still at an early stage of their AI journeys. Such companies must construct cutting-edge data pipelines. Most AI models are consumers of enormous amounts of data, so businesses must develop adaptable data pipelines that can expand to accommodate thousands of sources. 

Such models can incorporate structured and unstructured data and deliver it to data scientists trustworthy and meaningful. For more scalable data, lakes, traditional ETL (extract, transform, and load) and relational stores must be complemented, and in many situations, data streams must be given for real-time processing.

Also Read: Seven Key Soft Skills IT Leaders Must Possess in 2022

Automated process discovery boosts RPA efforts

The world will become more organized. Using modern process discovery technology, business leaders may see the automation potential within their organization. These technologies will offer process-related insight that cannot be obtained through other methods, even though they are not solely focused on automation prospects. Lean is boosted by process mining, task mining, and the burgeoning conversation mining technique, offering the company more autonomous ways to build a Robotic Process Automation (RPA) pipeline. Future advancements in these technologies will significantly increase the use of intelligent automation.

AI enables effective supply chains

In the future, intelligent supply chain applications should be the norm rather than the exception. Supply chains will need to be continuously changed, AI-enabled, and most crucially, future-proofed, given all the recent upheaval, from supply and demand forecasting to digital manufacturing and logistics.

Talent shortages threaten progress

Effective people management has become a key differentiator for business IT firms, given how quickly the AI market is evolving. This must include top-notch hiring and retention-related efforts supporting inclusion and lifelong learning culture. The market has never been more competitive for those with AI skills, and this trend is expected to last for years. Strategic alliances will therefore be necessary for all types of businesses and industries.

AI transforms IT productivity

Future IT environments will be too powerful and complicated for human tech professionals to handle alone. The management of contemporary systems that CIOs create will be another area where AI deployment will rise. People can’t only run these systems. AI will enable the observability, intervention, and in-depth analysis required for these systems.

Given the increased interest in generative AI, expect assistance on the app development side of the business. In 2022, CIOs will also assess AI’s potential to change developers’ productivity within the engineering department profoundly. Long-term research has been done in this field, although significant advancements have recently been made.

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Swapnil Mishra is a Business News Reporter with OnDot Media. She is a journalism graduate with 5+ years of experience in journalism and mass communication. Previously Swapnil has worked with media outlets like NewsX, MSN, and News24.