As a fraud analytics firm that leverages machine learning technology to better predict and stop the spread of fraud from compromised card details, you could say we’re already pretty bullish about the future of machine learning/artificial intelligence (AI) and its ability to transform the world of fraud detection.
Just ask our team of data scientists if you need more evidence. But you don’t have to take our word for it — there’s plenty of others across the industry echoing the same sentiment. It’s clear machine learning and AI have officially become the trend to watch in 2018.
Driving these conversations have been massive investments across the public and private sectors in technologies like machine learning that allow data scientists (like those at Rippleshot) to fully make sense of millions of data points in order to help organizations better understand the patterns that exist within their own data — and what they can do with that data. The patterns, of course, have always been there. Without the power of machine learning to dissect the rapid movement of data points faster than humans can keep up with, it’s impossible to fully make sense of how to get ahead of a problem before it’s too late. That’s where the true power of machine learning comes into play.
To gain some insight into what others are saying about the future of machine learning/AI and its application in 2018, we’ve gathered 10 perspectives on the subject about how this technology will continue to make its mark this year.
Presence Across More Platforms
Forbes: “Artificial intelligence, largely manifesting through machine learning algorithms, isn’t just getting better. It isn’t just getting more funding. ...Rather than focusing on one goal, like mastering a game or communicating with humans, AI is starting to make an appearance in almost every new platform, app, or device, and that trend is only going to accelerate in 2018.”
‘Actionable Business Insights’
Entrepreneur: “Generating actionable business insights with AI is becoming much easier, thanks to cloud-based platforms that can mine existing data to predict future consumer trends. And consumers are happy to fork over personal information in return for a personalized shopping experience that predicts their needs and wants.”
Changing How Problems Are Solved
Electronic Design: “Machine learning…[has] been hot topics for a couple years. Nonetheless, the changes in hardware are changing how embedded developers look at solving problems.”
‘Better Decision Making’
Deloitte: "We have reached the tipping point where adoption of machine learning in the enterprise is poised to accelerate, and will drive improved business operations, better decision making and provide enhanced or entirely new products and services.”
Growth At Scale
Forbes: “All the indicators show that investment into the development and integration of AI and, in particular machine learning, technology is continuing to increase in scale.”
Productive Use Of Data
Tech Republic: “The percolation of AI and machine learning technologies into businesses still seems to be in its early stages, ranging over awareness that they need to collect data, to awareness that they already have a lot of data but are not making productive use of it, to rudimentary analyses of these data.”
Transforming Data Analytics
ANI News: “Data Analytics would be heavily impacted by AI. Current advanced analytics solutions will continue to transform into AI solutions using machine learning and deep learning. Statistical models used for forecasting would be replaced by advanced analytics solutions based on machine learning.”
Acceleration of Adoption
Navigant Research: “...The use of machine learning will expand to many more use cases and its adoption will accelerate. During the past decade, it has become easier for companies to deploy machine learning thanks to falling costs, new technological advancements, a softening of conservative attitudes, and a fresh approach to analytics procurement.”
‘Faster and Smarter’
Big Cloud: “Machine Learning capabilities are growing rapidly, transforming business applications in all sorts of industries from medicine and healthcare, to self-driving cars, gaming, and fraud detection to name a few. We’re expecting Machine Learning processing to become even faster and smarter in 2018 where we can see it being applied to even more of a variety of sectors and business problems.”
‘2018 and Beyond’
Reuters: “While public interest and media narratives around artificial intelligence (AI) have ebbed and flowed over the past couple decades, the conversation has been heating back up in recent years, due to advancing consumer technology and the need to process and understand ever increasing amounts of data. That buzz will likely continue into 2018 and beyond as new products and services built on AI seep into many aspects of our lives – be it in the home, on the commute, in the workplace, or elsewhere.”