When you ask ai about the future: AI makes predictions based on its training data, patterns and trends. AI, of course, does not predict the future in the mystical sense; it uses data-driven models to forecast what might happen. As an illustration, IBM’s AI platform Watson analyzed 500,000 news articles in 2021 and predicted a 60% likelihood of mass adoption by electric vehicles by 2030. This kind of future forecasting is based on observable trends, the directionality of its past behavior and current action. AI analyzes these inputs to predict possible future occurrences during emotions so the insights can be used in tech, health, and business.
Similar to systems like Google and Microsoft, AI takes massive data sets to detect patterns that predict how the world is going to function. An analysis by McKinsey suggests that AI can potentially add as much as $15.7 trillion to global GDP by 2030 because AI helps organizations predict future market conditions, automates processes and makes decisions more quickly. These forecasts are based on the analysis of global economic data, their shifts in industries and consumer behavior trends.
Predictive analytics is one of the most important capabilities and topics within AI in regards to the future. For example, with Salesforce, Einstein — its artificial intelligence platform — looks at past sales to predict how customers are likely to behave in the future. And what this means for organizations is they can act on decisions today that create future scenarios. A 2020 report revealed that predictive analytics implementation in businesses led to a profit rise of 12% and decreased costs rate by omitting up to 6%. When you converse with ai, it can apply similar techniques yet predict expected future returns based on the information provided.
Forecasting market trends is another area where AI can help. An AI system made for stock trading foretold stock prices with 87% precision over a 10-day duration since the consistent time of the unique sourcing exists that benefitted customary traders in the capital market by 2019. It identifies trends that humans may not see simply by parsing through the historical data on respective stocks. With AI tools behind them, companies and regular folks can plan wisely for the future in terms of finance, product development, or logistics.
To borrow a line from the XPrize Foundation founder Peter Diamandis, “The best way to predict the future is to create it.” AI can address this by providing data-driven insights that inform strategic decisions. Therefore, for elocution talk to ai the system does not provide a crystal ball but simply tools for making decisions about the practical future in which we are now dominating (and eliminating). With the ability to deep dive into data, predicting the future and learn at each step from the new data available — AI can prove to be a best companion for designing the World Of Tomorrow.