1 in 4 firms will raise AI into new levels by 2021: Forrester Research

By Rahul Vaimal, Associate Editor
  • Follow author on
Representational Image

The American market research firm Forrester Research has forecasted that by 2021, one out of four enterprises will push Artificial Intelligence (AI) to new frontiers.

The AI technologies like holographic meetings for remote work and on-demand personalized manufacturing will gamify strategic planning, generate simulations in the boardroom and transform into intelligent edge experiences.

The multinational consultancies like Capgemini, Ernst & Young and KPMG will offer strategy and governance, while software firms such as DataRobot, IBM and Tecton will accelerate this forecast into a reality, the report added.

“Plan to quadruple your investment next year. Build your internal AI team, engage consultancies to implement domain-specific solutions, and upgrade your data, analytics, and machine learning (ML) platforms to rethink how you use AI,” Forrester’s report advised.

Despite these supporting factors, there are several hindrances in the path of AI to be successful including the lack of trust in the technology, poor data quality, data paucity, low imagination and deficiency of the right power tools to scale.

However, by next year companies will start to tackle these issues and take up an AI-driven operation strategy because the current trend occurred due to the pandemic demands such a kind of transformation.

“They have to rebuild their businesses, not for today or even next year but to prepare to compete in an AI-driven future,” Forrester said.

With this expected hypergrowth in AI, there will also be a rapid expansion of artificial data and the beginnings of a blockchain-based approach to data trust.

Artificial data comes in two related but different forms synthetic data and fake data. While the synthetic data allows users to create data sets for training AI, fake data does the opposite, it disturbs training data to deliberately throw off AI.

Artificial data has many pros and cons, the good part is that they can help data-strapped organizations to adopt AI by turning to synthetic data providers like DataGen and Mostly AI.

Whereas a malicious creator can use fake data to create adversarial attacks like the one that caused a Tesla last year to wheel into oncoming traffic due to stickers placed on the road.