2022 for AI has been a commendable year. With AI being on top of its game, we have seen many astounding advancements with no stop to future possibilities. From retail to healthcare industries, from generating codes to generating music, AI has spread its wings across all.
Every business is keen to learn and implement AI tools to interact with its customers. And knowing the next possible big thing in AI is going to keep them ahead in their game. So, here are the top trends and predictions you can look out for in 2023, as anticipated by our Council Members at AI Xecutive Council.
- Adoption of Digital Tools at Scale
“I think a lot of companies will focus on the two ends of the spectrum: data (foundation) and adoption (value capturing). Many of us will take a step back and work on Data Management and Governance in order to be ‘Machine Learning-ready’. On the other end, there’s a big emphasis on driving adoption of tools/apps; many of us developed digital tools at scale but now need to work on process change, training users, and focus more on value capturing. “
– Gustavo Mendonça
Global Head of Revenue Management and Digital Solutions, The Kraft Heinz Company
- Implementing Omnichannel Personalization Strategies
“Omnichannel personalization provides brands a competitive edge over their peers. Implementing a personalized strategy at scale can maximize customer engagement across various interconnected platforms and effectively deliver hyper personalized ad messages to them.”
– Ling Zhang
VP of Data Science, Cadent
- Responsible Tools & Framework for OpenAI
“There’s lots of responsibility with tools like OpenAI. How to combat these bots? How to manage this transformation using a hub and spoke model? These will be the questions organizations need to ask.”
– Kandy Senthilmaran
Director – Product Launch Management, Microsoft
- Harnessing The Power of Multimodal Intelligence
“The AI Renaissance is upon us, and with it comes a new era of multimodal intelligence. We are no longer limited to a single approach or algorithm, but rather we can harness the power of multiple models to solve complex problems and make breakthrough discoveries. This is a time of great potential and limitless possibilities, and we must embrace it with open minds and a willingness to adopt new technologies and approaches.”
– Sadie St. Lawrence
Founder & CEO, Women in Data
- Optimizing Value Chains & Cost Structures
“I think a lot of companies are going to focus on the core and invest more in fixing their value chains and cost structure, and less in innovation. Companies will be led to think very differently about investing in their business and how to come out of recession with as less an impact on their business.”
– Ash ElDifrawi
Chief Marketing Officer, TAG – The Aspen Group
- Deploying AI Automation Tools to Reduce Business Costs
“Automated solutions can be an effective way to solve the cloud cost optimization problem. Many businesses will move towards deploying such AI automation tools as they look at reducing their business cost during the time of recession.”
– Topojoy Biswas
Distinguished Scientist, ML Architect, Walmart
- Building Agile Supply Chain and Inventory Analytics
“Majority of companies added capacity to meet increased demand caused by the global supply chain shortage in 2022. With talk of recession and deflation in coming years, 2023 will test out who has the most agile supply chain and inventory analytics. The bullwhip effect will cause everyone in the value chain to desire the real time inventory view at the most granular level, so that they can make right inventory decisions.”
– Annie X Wang
Director – Pricing and Analytics, PPG Industries AC
- Focusing on Spend Optimization
“Given the recessionary climate, data professionals need to be more realistic with the problems they can/want to solve versus need to solve. Instead of focusing on how companies can get more for the same money, the focus needs to be on how to spend less money to retain the same outcome. Thus, directing their attention towards more relevant problems such as spend optimization.”
– Sayandeb Banerjee
Co-founder & CEO, TheMathCompany
- The Rise of the AI Designer Role
“My prediction is that designers are going to be part of data science teams.”
– Anuj Krishna
Co-founder and Chief Product Officer, TheMathCompany
- Acceleration in AI Ethics Legislation
“With the AI Bill of Rights being introduced in 2022, I anticipate a lot more to happen around this in 2023 as well. With tools like DALL-E 2, Stable Diffusion and Midjourney, it becomes all the more important to focus on breaking biases within algorithms and moving towards a much more responsible use of AI. I hope to see some more regulation in this area.”
– Peeyush Dubey
Chief Marketing & Strategy Officer, TheMathCompany
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What is AIXC?
The AI Xecutive Council, an initiative by TheMathCompany is an exclusive, no-cost, invite-only global community where industry leaders and researchers exchange ideas and have conversations around real-world analytics to get the most value out of AI. This is a leadership community with access to a stellar network. The Council Members include senior leaders from Fortune 500 companies such as Mars, Keurig Dr. Pepper, Smartsheet, IPG, Kraft Heinz, The Aspen Group, Cadent, Future of Life Institute, Abbott, Eurazeo, Walmart and Microsoft. For more information about AI Xecutive Council, please visit www.aixc.io.
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