Monitoring is critical to successful AI – TechCrunch

As the world becomes more deeply connected through IoT devices and networks, consumer and business needs and expectations will soon only be sustainable through automation. Recognizing this, artificial intelligence and machine learning are being rapidly adopted by critical industries such as finance, retail, healthcare, transportation and manufacturing to help them compete in an always-on and on-demand global culture. However, even as AI and ML provide endless benefits -- such as increasing productivity while decreasing costs, reducing waste, improving efficiency and fostering innovation in outdated business models -- there is tremendous potential for errors that result in unintended, biased results and, worse, abuse by bad actors. The market for advanced technologies including AI and ML will continue its exponential growth, with market research firm IDC projecting that spending on AI systems will reach $98 billion in 2023, more than two and one-half times the $37.5 billion that was projected to be spent in 2019. Additionally, IDC foresees that retail and banking will drive much of this spending, as the industries invested more than $5 billion in 2019.