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  • Writer's pictureCristina Ferrero Castaño

The three key innovations that will drive the growth of Artificial Intelligence

The automation of processes and the increasing presence of robots are creating a new paradigm in production and services. The Fourth Industrial Revolution or Digital Revolution is making certain areas such as Artificial Intelligence (AI) increasingly important. This paradigm is marked by technology in general and Artificial Intelligence in particular.

Juan de Dios Sanchez-Roselly

El Español

July 13, 2021

The term Artificial Intelligence (AI) encompasses the combination of algorithms that allows computers to mimic the perception, learning, problem solving and decision-making capabilities of the human mind, to complete functions that until now only a human being could perform. This area, which encompasses disciplines such as Machine Learning, Deep Learning, Big Data or 3D vision, is in an initial stage known as Weak AI. However, according to the PWC company, AI could rapidly advance to the next phase or General AI, contributing up to $ 15.7 trillion to the world economy in 2030, as a result of increased productivity, customization and improvement in quality.

The growth of Artificial Intelligence is mainly driven by three fields of innovation: Deep Learning, Quantum Computing and Big Data.

  1. Deep Learning is a form of Artificial Intelligence inspired by the human brain that is spreading throughout all industries in the world. It enables the ability to learn unsupervised from data that is unstructured, or Raw Data, through deep neural networks (multiple and individual layers of algorithms).

Thanks to this advance, computer vision, speech recognition, speech synthesis, machine translation, video games, drug discovery and robotics are setting performance records in these new rules of the game.

2. While standard computers are built with the classic bits, each computer

quantum has a qubit or quantum bit as a building block, thus taking advantage of the capacity

unique of subatomic particles in the form of a qubit. As a result, quantum computers can handle very complex operations at exponentially faster speeds higher than conventional computers while consuming much less power.

3. The digital age has created an overwhelming amount of information, and the total amount of information is projected to data will increase dramatically in the coming years. Now, companies can have valuable information on demographics or customer preferences because they are able to

embed disparate data - captured through products, video cameras, credit cards, mobile phones, or other touchpoints - into meaningful sources for AI algorithms to manipulate and understand behaviors.

Businesses can leverage this knowledge to improve products, business strategy, and marketing campaigns to serve targeted customers.

Opportunities to benefit from AI-driven innovations are in AI-enabled industries (major business process verticals), AI applications (driving higher levels of automation, faster decision-making and significant cost savings) and AI infrastructure (semiconductor, electronic components and infrastructure software sectors).

All in all, the companies that manage to adapt and implement these innovations will capture an increasing share of the profits in their respective industries. Among all of these, there are some really valuable investment opportunities in what we call Future Tech.

Thus, it is undeniable that there is also a shift towards these skills in the employment landscape as well, especially in the wake of the COVID-19 crisis. According to LinkedIn's 'Booming Jobs' report, which analyses the post-Covid-19 job market, changes in consumer behaviour and business needs have driven positions in categories such as e-commerce, digital marketing, technology and data science and artificial intelligence. This study shows that e-commerce-related hiring increased by 70% between 2019 and 2020; and that during 2020 it increased by 61% in the area of digital marketing, 38% in technology positions and 64% in the field of artificial intelligence and data science.

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