Evaluating the Accuracy of AI Trends Predictions made by Top Enterprise Leaders - Then and Now

At the beginning of 2019, enterprise leaders from different top tech companies predicted Artificial Intelligence (AI), data science, and machine learning trends for future years. After two years, we reviewed their AI predictions to find out how accurately they predicted the developments in AI. Our team further studied and analyzed their predictions to give them a ranking.

Prediction #1: by Imam Hoque, COO & Head of Product, Quantexa

In 2019, Imam Hoque forecast that AI may replace humans in enterprise decision making. He said:

“As AI continues to be more prevalent, it is undeniable that automated decisioning will replace traditional white-collar workers. It means AI systems will be making the decisions instead of humans for anything from approving loans or deciding whether a customer should be onboarded to identifying corruption and financial crime. It is distinct from Robotic Process Automation (RPA), which simply emulates human decisioning. Instead, true AI systems will go beyond human capability. We can also expect to see greater understanding in the boardroom about what AI means—including hard-nosed figures around competitive advance, reducing costs of operations and removing headcount. Expect to see this C-suite understanding trigger issues around unions and job security as a result of significant operational changes"—Imam Hoque, COO & Head of Product, Quantexa

Key AI Predictions in his Statement:

1. AI-based decision support systems will replace humans in operational decision making.
2. True AI will surpass human capability.
3. Increase in understanding of AI among the C-Level executives.
4. AI will help to reduce the cost of running a business from operational to human resources.

Our Assessment on Predictions:

Over the past two years, Artificial Intelligence is being incorporated in almost all industries rapidly. AI is playing an important role in enterprise decision making to remain competitive in the business domain. Those were the old times when data analytics and business intelligence dashboards are thought to be enough for strategic decision making. The time has changed, and IT strategies need to be rediscovered. Now with the growth and availability of data, we are witnessing high demand and usage of Data Science, and Prescriptive Analytics on C-Level dashboards and meetings. These are the tools that provide in-depth insights into the business KPI's and also suggest preventive measures where needed. Risk analytics, decisioning, and CRMplatforms are helping in strategic decision making and growing the company. Our rating for the first part of the prediction is 8/10.

As far as true AI is concerned, we are still away from those days at the moment where AI will go beyond human capability. AI is still an evolving field, and as more progress is happening in advanced research soon, we will see machines at work. Our rating for the second part of the prediction is 5/10.

See also: Will robot take my job?

In the past few years, there has been a lot of hype about Artificial Intelligence, Big Data, and Internet of Things (IoT), and indeed these buzzwords have been the talk of the town. The time has changed, and more pragmatic debates and discussions are happening on the mainstream venues on these topics. CIOs are leading corporate AI projects. The reason is the well understanding of the science and mathematics behind AI tools, technologies, methodologies, and related buzzwords among the C-Level executives. We believe that there is still a margin of improvement in understanding among high-level executives about AI tools, technologies, data, and skill set needed, that what it can do and what it can't. It will come with the experience of implementations of AI projects and use cases in the organizations. Our rating for the third part of the prediction is 7/10.

Artificial Intelligence sub-domain Robotic Process Automation is one of the primary considerations for reducing operational costs in the business. However, there are many other ways that can be implemented to reduce and cut the expense of businessby efficiently utilizing technology. Our rating for the fourth part of the prediction is 8/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Imam Hoque correct prediction score is 7 out of 10.

Prediction #2: by Hala Zeine, President of Digital Supply Chain, SAP

In 2019, Hala Zeine forecasts that AI will be used for business insights discovery. She said:

"AI will add an extra layer of predictability, allowing organizations to see patterns and gain insights from IoT devices and past customer behaviours—ultimately making supply chains smarter, leading to faster, more efficient production and fulfilment, and happier customers. In 2019 and beyond, we can expect AI to take supply chains from reactive to prescriptive levels, helping companies get one step ahead of consumers' rising expectations”—Hala Zeine, President of Digital Supply Chain, SAP.

Key AI Predictions in her Statement:

In her statement, she predicted that:

1. AI will promote accuracy in discovering business insights and customer patterns.
2. Use of AI in business will help in attracting more customers.
3. AI-based systems will help optimize business workflows and boost customer satisfaction.
4. AI will increase supply chain’s prescriptive capability.

Our Assessment on Predictions:

AI has helped businesses promote their services for a long time and become more efficient in their operations. Deep learning can change the marketing future; it predicts consumer behavior to help the business grow faster. Researchers have prepared deep neural networks that work similarly to biological brains to gain skill and solve complex real-time issues. Many companies have introduced AI systems to promote their growth in the market. Deep learning requires a complete data set of instructions and full computational power to lead the conventional methods. But still, some modifications are needed to surpass the demands. Our rating for the first part of the prediction is 7/10.

All key predictions are related to each other; in the second part, it's predicted that AI-powered technology will bring more business growth by attracting potential customers. There are over 2.6 billion active social media users, including potential sellers and buyers. AI makes it easier to reach them digitally by changing the way of capturing them. By 2021, it's expected that companies will spend 57 billionon developing strong AI-based systems. Our rating for the second part of the prediction is 9/10.

AI is supporting real businesses to grow at a faster rateby performing labor extensive and repetitive tasks. It has become essential for organizations to improve their digital marketing strategies in the present era. According to an expert report, the global AI market will exceed $53.2 billion in 2020 and reach $152.9 billion by 2023. Moreover, 23% of businesses have already introduced AI in their systems, and the number will exceed 60%; till 2022, it will cross 88%. We rated third part of the prediction as 9/10.

AI is completely changing the way the company's interaction with customers. The Global AI Agenda has found that customer service is the most prominent department where AI is actively serving. It uses deep learning algorithms to access human behavior, liking, and disliking; ultimately, it helps company owners modify their products according to the demands. But due to data sharing constraints and other business process challenges, it is difficult to scale AI to recognize customer's requests digitally based on insights. Our rating for the last part of the prediction is 7/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Hala Zeine accurate predictions score is 8 out of 10.

Prediction #3: by Isabelle deZegher, Vice President, Integrated Solutions, PAREXEL

In 2019, Isabelle deZegher said that AI will differentiate laggards and leaders. She said:

“2019 is the year where we have everything in our hands to use digital technology; it will be the year that will differentiate the laggards and the leaders, providing a competitive advantage to the forward-thinking organizations. The laggards still believe there is time and will keep developing solutions in silos, making little progress, without realizing the pace of change is accelerating faster than in the last 20 years. The leaders are the ones that are set for digital transformation across their organizations, and who will leverage Big Data and AI to deploy solutions that fundamentally affect the full drug development life cycle; they will reverse the current trend—the growth of drug development timelines by 25%, reaching a startling 12 years on average—and bring much-needed therapies to the market sooner"—Isabelle deZegher, Vice President, Integrated Solutions, PAREXEL.

Key AI Predictions in her Statement:

1. The leaders will adopt AI with their smart-thinking and offer a solution for laggards to use.
2. AI will improve the drug development cycle to bring innovative therapies to the market.

Our Assessment on Predictions:

Leaders are those who think one step forward than laggards and bring innovation to the world. The organizations can compete via adopting advanced technology quickly. However, the organizations that don’t prefer AI investment have the risk of losing competitive advantages. They start with a small group of skilled persons to train a large group of interested people to promote a skill. The trend of adopting an AI-powered system is more common than giving birth to a new startup plan. But the major challenges that organizations face are (a) Shortage of internal data scientist or AI developers (b) difficulties in building a business case. Our rating for the first part of the prediction is 6/10.

It has been analyzed that artificial intelligence will generate two to three percent higher revenues than before. Now hospitals are using AI, machine learning, natural language processing, and advanced techniques to shift from static to dynamic management practices. Based on the prediction, industry experts have prepared a comprehensive report regarding AI in drug discovery and its market value. In 2020, scientists have developed several therapies to cure cancer patients. The practice-changing cancer therapy has helped in dealing with multiple challenges by using patient’s data. The top ten companies in Europe have already installed AI-powered systems in their organizations to treat disease. AI changed the way of treating the recent pandemic COVD-19, and the researchers published their findings in The Lancet and The Lancet Infectious Diseases papers. Further researchesare on their way that how AI can discover new treatments for emerging disorders. Hence, for the second part of the prediction, our rating is 8/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Isabelle deZegher right prediction score is 7 out of 10.

Prediction #4: by Setu Kulkarni, Vice President of Corporate Strategy, WhiteHat Security

In 2019, Setu Kulkarni said that a new breed of security data scientists will emerge. He said:

“As AI and ML become mainstream, a new breed of security data scientists will emerge in 2019. Preparing, processing, and interpreting data require data scientists to be a polymath. They need to know computer science, data science, and above all, need to have domain expertise to be able to tell bad data from good data and bad results from good results. What we have already begun seeing is the need for security experts who understand data science and computer science to be able first to make sense of the security data available to us today. Once this data is prepared, processed and interpreted, it can then be used by AI and ML techniques to automate security in real-time"—Setu Kulkarni, Vice President of Corporate Strategy, WhiteHat Security.

Key AI Predictions in his Statement:

1. 2019 will produce security data scientists having enough knowledge about data science.
2. AL and ML techniques will use this advance data information to offer security in real-time.

Our Assessment on Predictions:

Data science is leading the information technology sector, and it's a critical factor in changing traditional security ways. AI in cyber security and data breaches is one of the top AI trends for 2021. There is availability of ML engineers in the market with expertise in developing machine learning models to prevent and protect data breaches and cyberattacks. Moreover, there are many AI-based robust tools and equipment to gain crucial insights into the data. It’s the most competitive field that extracts insightful and game-changing knowledge from the given data. In 2020, there were still some challenges that data science faces and need researcher’s attention to be resolved for high accuracy. Cybersecurity in the computing context is undergoing a massive change in technology that is driven by data science. It involves extracting security patterns or insights from cybersecurity data and preparing related data-model; it makes a security system efficient and automated. Our rating for the first part of the prediction is 7/10.

Artificial intelligence and machine learning algorithms are beneficial in the automatic detection of computer-based vulnerabilities and threats. Conversely, AI for offensive purposes may also become powerful to block or defend against a cynical move. There must be a way to promote a healthy social environment by defending against AI-powered cyberattacks. We should consider both pros and cons of every rising technology to protect innocent people against crimes. There is a dire need to improve in cybersecurity for artificial intelligence to be used in the right way. Our rating for the second part of the prediction is 6/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Setu Kulkarni’s accurate prediction score is 6.5 out of 10.

Prediction #5: by Dan Sommer, Senior Director, Qlik

In 2019, Dan Sommer said that with the rise of AI there will be a shop-for-data marketplace. He said:

“Centralized data will be replaced by a single view of all data. Data is coming at us from different directions, at different speeds, and in different formats, and controlling this tsunami is one of the key markers of empowerment and success in the information age. Two massive trends are changing the landscape. First, different vendors are coming together to standardize data models. Second, and more important, is the emergence of enterprise data catalogues. These catalogues are accessible in a hub, with one view of the entire federated data estate, and deliver a shop-for-data marketplace experience. The more you share, collaborate and use the hub, the more valuable it becomes to the business. Furthermore, it links your analytics strategy with your enterprise data management strategy, as the data becomes analysis-ready"—Dan Sommer, Senior Director, Qlik.

Key AI Predictions in his Statement:

1. Centralized data will be replaced by a single view of data.
2. Standardize data models by different sellers.
3. Introduction of enterprise data catalogs for improving marketplace experience.
4. It will help in making data analysis faster and accessible in real-time.

Our Assessment on Predictions:

Having all data in a single place is more effective than dispersing it across several social media platforms. In companies, it matters a lot if all the data is organized for saving whole days and weeks. The second effectiveness of centralized information is consistency; many organizations suffer from inconsistent data known as "data chaos". Coordination among different departments of the same companies can be achieved with AI and advanced technologies. There are many critical benefits of centralizing data, including data security, data integrity, data consistency, and many more. Buyers can search for the best enterprise data storage companies that fit their company's needs. Therefore, the companies focus on it, but the data quality and availability is still one of the biggest challenges that companies face. Our rating for the first part of the prediction is 6/10.

Standardized data is the most valuable thing that ensures that each data type has the same format and content. Datastandardization is a particular type of transformation that includes information so that it becomes easy to access, share, and reuse among enterprises. Such data helps in decision-making by using existing reporting mechanisms. Big data, artificial intelligence, data analytics, and the internet of things transform the way of engaging customers. Every enterprise can virtually do it with four necessary steps as it's a pivotal component to pull data from multiple systems in a single format. However, integrating unstructured data is one of the biggest challenges that companies encounter in the process of developing AI systems. Our rating for the second part of the prediction part is 6/10.

The Global Catalog Industry will exceed $787.3 million and reach $691.9 million in 2025. It assists buyers in finding the right data catalog tools to fulfill the needs of their particular organization. Here is the list of 19 best data catalog tools and software that assist big organizations in the present time. Many firms have adopted this system, but still, some are working on it. Our rating for the third part of the prediction is 7/10.

Artificial intelligence, combined with data and analytics, is paramount in predicting, preparing, and responding uniquely. Plus, it helps deal with a global crisis and predict its accurate solutions. AI excels in finding patterns and insights about large databases faster where humans even can’t reach. It is also in use in predicting outcomes and triumphant course of action. Companies are adopting AI in accelerating their progress and career. Our rating for the fourth part of the prediction is 9/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Dan Sommer’s accurate prediction score is 7 out of 10.

Prediction #6: by Nebu Mathai, EVP Product Engineering, Cognitive Systems Corp

In 2019, Nebu Mathai said that AI will be used to satisfy the demand of consumers. He said:

"We are still far from having a bonafide 'smart home', and the primary roadblock is the lack of the essential link between sensing and action. Currently, we have a variety of technologies that offer a compelling vision of the future. Still, that vision is impeded by the fact that the devices are isolated, lacking context, and are thus unable to act autonomously: the consumer must always supply the intelligence for the 'smart home.' The mating of RF sensing technology with mesh and other networking schemes will amplify the value of network hardware, enabling them to provide robust communications infrastructure and sensory feedback—the necessary convergence of control and communications needed to create cognitive systems. We will see this convergence entering the market in 2019, led by forward-thinking tech players who will build out this visionary ecosystem to satisfy the demands of consumers who want to see a Jetson—esqe future, now.”—Nebu Mathai, EVP Product Engineering, Cognitive Systems Corp.

Key AI Predictions in his Statement:

1. Smart homes will be developed in 2019 by combining advanced technologies.

Our Assessment on Predictions:

In the present era, we are used to technology connecting us with our homes even from considerable distances. We have electronic devices that connect with the internet and ultimately connect us with our families. It makes our living safe, entertaining, economical, and comfortable. This trend is set to grow in the next decade; the smart home device market's value will exceed $174 billion in 2025 from $55 billion. People focus on and adopt intelligent home trends and wait for the next appliance that can make their lives more comfortable. We can expect domestic help via home automation and artificial intelligence. Many platforms like Google, Amazon, and Apple are team up to develop a set of standards that make homes smarter and more secure than before. However, a more accurate term is connected home than smart home because home appliances can’t become smart automatically just because of their internet connection.

Machine learning, natural language processing, and computer vision are all involved in making extraordinary home devices. For instance, smart thermostat systems by Nest and Honeywell are using ML to learn human behaviors based on observation and then repeating their habits. There are many other smart home devices developed in 2020 that are making dreamy life real. We rated his prediction as 9/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Nebu Mathai’s accurate prediction score is 9 out of 10.

Prediction #7: by Ojas Rege, Chief Strategy Officer, MobileIron

In 2019, Ojas Rege emphasis to be transparent to build credibility across user communities while using AI. He said:

“In 2019, the value statement of every vendor that builds AI systems should focus on BOTH the value they wish to create AND the underlying moral foundation of their service. How they collect data, with whom they share that data, and what they end up doing with that data will increasingly need a litmus test for what is acceptable and not. That litmus test needs to be part of the culture of the vendor—it needs to come from the inside out. While this will feel too 'touchy-feely' and constraining to some vendors, it is necessary for long-term business viability to establish trust credibly across their user communities. Without transparency, there is no trust. Without trust, there is no data. Without data, there is no AI”—Ojas Rege, Chief Strategy Officer, MobileIron.

Key AI Predictions in his Statement:

Value statements are formal announcements by the organizations that treat their clients, suppliers, and how others deal with them in a community. According to Ojas Rege:

1. Vender’s value statement should base on two parameters; the one they wish, and the other according to the moral foundation theory.
2. It will help in a more extended business lifetime and earning a customer's trust.

Our Assessment on Predictions:

Before writing their business value statement, vendors must focus on its actual meaning and what they need from it. You must consider a long list of factors before starting a business; otherwise, all excitement will turn into a disappointment. As vision statements, these value statements help a lot in attracting a potential audience to a particular company. With inspiring and unique examples of the vision statement, vendors can grow their businesses exceptionally. It is considered the anchor point of any organization's tactical plan that must be short, specific, and simple. The number of companies focusing on vision statements increases with time as they utilize AI to stay competitive. Our rating for the first part of the prediction is 8/10.

Every organization's primary goal is to earn customer's trust for enhancing their exposure and retaining customers for a lifetime. It requires the best business strategy representation that is possible with using AI and advanced technology. There are also proven methods to earn a client's trust with valuable marketing strategies and proper product delivery. Trust is a top consideration for vendors which results in a purchase. Furthermore, 46% of customers are now switching brands than five years ago. Our rating for the second part of the prediction is 9/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Ojas Rege’s accurate prediction score is 8.5 out of 10.

Prediction #8: by Guy Zipori, CEO, Skyline AI

In 2019, Guy Zipori predicted the impact of AI across industries. He said:

“Multi-trillion-dollar markets such as commercial real estate are comprised of an intricate web of interactions that affect every decision, and AI technology is now mature enough to tackle these highly complex transactions. As industry leaders are opening up to the potential of integrating advanced technology into core operations, AI is making its impact felt across new industries that were previously off-limits. We see asset managers looking to develop new investment vehicles defined by AI that will enable enhanced performance in uncertain economic conditions, adding value throughout the entire investment lifecycle”—Guy Zipori, CEO, Skyline AI.

Key AI Predictions in his Statement:

1. The complex markets will adopt AI for simplification of their complicated tasks.
2. AI will enhance the productivity of those industries which use it.

Our Assessment on Predictions:

The global AI market is said to reach $118.6 billion by 2025; it involves decision-making, logistics, agriculture, robotics, construction, aerospace, and many other fields. The evolution of robots helped in doing manual and tedious tasks, including filling forms, making animations, and creating reports. In Japan, more than 80% tasks will be done by robots till 2025. Moreover, it is enhancing customization, boosting cybersecurity, and competing humans in doing extraordinary tasks. Artificial intellifAI, machine learning, and the Internet of things (IoT) revolutionize education, healthcare, human resources, marketing, and many other industries in 2020. Our rating for the first part of the prediction is 8/10.

It is not only enhancing proficiency but also giving ample opportunity to consider core tasks requiring human intelligence. AI market is likely to grow in the market at $7.3 billion in 2020 and reach $57.8 billion in 2026. The more focus is on introducing AI to edge devices and developing human-aware AI-systems. Our rating for the second part of the prediction is 9/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Guy Zipori’s prediction score is 8.5 out of 10.

Prediction #9: by Chase Buckle, Senior Trends Analyst, GlobalWebIndex

In 2019, Chase Buckle predicted that there will be need of third party data to remain competitive. He said:

"The future of third-party data is critical for marketers to stay actionable and competitive in a fast-moving technology landscape. The culmination of high-profile corporate privacy scandals and new wide-sweeping data legislation has forced consumers to get to grips with their digital footprints. It has caused them to be more critical over how they are targeted. Moving forward, third party data will help marketers gather more insights surrounding how consumers use emerging technologies such as voice, location-based search and AI, so they can target them in a way that is compliant and drives ROI. This data will remain key to informing the bulk of marketing strategy for years to come"—Chase Buckle, Senior Trends Analyst, GlobalWebIndex.

Key AI Predictions in his Statement:

1. Third-party data will help marketers to lead the competitors in this advanced era.
2. It will support wholesalers to get better insights about their audience's interests in technology; ultimately, it will derive more customers and more profit than usual.

Our Assessment on Predictions:

Third-party data is obtained from multiple sources by a company without any direct relation with the consumer. The references are as different websites, networks, surveys, social platforms, and subscriptions. For instance, email addresses, first & last names, phone numbers, buying history, and browsing activity are third-party data. DMPs (data management platforms) collect and use this data to prepare targeted profiles that help in marketing campaigns—unfortunately, data breaches and web browsers crackdown ad trackers, which affect data privacy laws. The present time is not the perfect moment to rely on third-party data. It is favorable to use more direct data that marketers obtain by direct relationship with their customers. Our rating for the first part of the prediction is 5/10.

In 2019, U.S. marketers, publishers, and other users invested $11.9 billion on third-party data that resulted in 6.1 percent yearly growth. But a significant slowdown was also observed (it was 15.7 percent in 2018).

Marketers create data-driven practices for two significant reasons:

• Firstly, customers want them.
• Secondly, there’s a growing trend to invest further after watching successful results.

According to the chief scientist, Neal Richter at SpotX, the brands will no longer rely on third-party content and cookies. It is the revival of the marketing industry that has a positive effect. It's an ample opportunity to get rid of countless cookies' false perceptions and then alignment of obtained content to filter the desired audience. Moreover, it also predicted that now brands will create personal apps because of the importance of first-party data. Companies get this gold data directly from their sites as it’s highly valuable for present and future campaigns. Our rating for the second part of the prediction is 5/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Chase Buckle’s overall prediction score is 5 out of 10.

Prediction #10: by Andee Harris, President, HighGround/YouEarnedIt

In 2019, Andee Harris forecasts the impact of AI on production and engagement. She said:

"As automated technologies shape the workplace in 2019, it's important for companies to think about how the onslaught of technology will impact their company culture in the short and long-term. Many organizations are already using AI to search for talent. Still, when it comes to other areas of the workplace where employees will be encountering AI daily, companies need to understand employee perceptions from the start. Before rolling out any new technology platforms, businesses need to be prepared to communicate the value the product will bring to the organization, how it will affect employees for the better, and the positive impact it will have on productivity and engagement. In doing this, companies will set their organizations up for success when implementing new technologies”—Andee Harris, President, HighGround/YouEarnedIt

Key AI Predictions in her Statement:

1. Businesspersons should consider the pros and cons of every technology before introducing it into their organizations.
2. A company’s success is directly influenced by the technology it uses.

Our Assessment on Predictions:

Before introducing any technology in the system, the owner should go through all its positive and negative impacts. Moreover, he should also focus on its long-term effects instead of short-term benefits. Only those organizations survive for a long-time, which define their roadmaps and follow them accordingly. No doubt, technology is supporting businesses with various software, hardware, and online capabilities; but you must consider the good and bad aspects of technology before you jump into it. Our rating for the first part of the prediction is 10/10.

Technology has changed the way how companies conduct their businesses. It enables small organizations to use an array of artificial intelligence to get competitive advantages. The firm's owner should implement technology in their planning strategies, better integrate, and streamline business expansion in the future. It’s the best advice given by Andee Harris to all big, middle-sized, and small businesses to compete in the future and stand unique. Our rating for the second prediction’s part is 10/10.

Overall Rating:

Given the above analysis on the prediction, we believe that Andee Harris’s overall prediction score is 10 out of 10.