Industry executives and experts share their predictions for 2022. Read them in this 14th annual VMblog.com series exclusive.
AI Will Take on More Challenges in New Industries
By Michael Krause, Senior Manager of AI
Solutions, Beyond Limits
2022 is going to be an exciting year for artificial
intelligence (AI). 2020-2021 saw tremendous advancements, and the year ahead
will continue building on those advancements across AI, machine learning (ML)
technologies, and the unique use cases where industries apply such solutions.
One exciting development on the horizon includes the next
phase of the GPT (Generative Pre-Training) language model, GPT-4.
The model's next iteration brings about the potential for dramatically improving
natural language AI. Auto-generated articles indistinguishable from human
writing, improved real-time language translation, and meta-learning
capabilities are just a few ideas of what may come next. Operationalizing this
kind of human-like processing power, and applying it to existing challenges, will
elevate not just AI technology itself but also how it is utilized.
As AI has grown in functionality and industry leaders have
taken notice, working to incorporate the technology within their own sectors. Enterprise
application of AI and ML is just beginning. There are multiple use cases on the
horizon; patient screening and procedure recommendations in the healthcare
sector, industrial equipment maintenance in the construction industry, Mars exploration
for aerospace, and even remediation recommendations for easing the supply chain
issues that are forecasted to persist through 2022. There is no limit to what
the future may hold as AI and ML work their way into some of the world's
biggest challenges.
One of these issues, for example, is the world's growing
demand for fuel. With oil demand expected to exceed
pre-pandemic levels in 2022, industry leaders are looking to AI to increase
production and efficiencies to meet this need. Cognitive AI is already showing
a great deal of promise here, leveraging domain expertise and historical data
to quickly identify drilling targets, streamline refinery operations, and
monitor systems in real-time for any maintenance or equipment failure issues. Detecting
these issues ahead of time can save organizations up to $100 million in funds
lost to downtime and site repair.
Artificial intelligence is still in its relative infancy; we
will undoubtedly see even more breakthroughs in the year ahead as researchers
introduce new capabilities and greater processing power. As the technology
lends itself to solving new problems for more industries, I am very excited to
see the many ways we - as people - will benefit from AI's greater integration
into our daily lives.
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ABOUT THE AUTHOR
Michael Krause is Senior Manager of AI Solutions at
Beyond Limits, a pioneering artificial intelligence engineering company
creating advanced software solutions that go beyond conventional
AI. Michael specializes in industrial AI with experience from bespoke AI
solutions at small businesses to digital transformation at large
enterprises. Prior to joining Beyond Limits, Michael was Director of
Analytics at Tiandi Energy in Beijing, China, and later at Energective in
Houston, Texas. Michael holds a Ph.D. in Energy Resources Engineering from
Stanford University.