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Will AI dominate in 2021? A Big Question – ReadWrite

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Faraz Qureshi


In 2020, AI had rapid transformations and unexpected developments along with excellent innovations. We, as humans have entered into the most digitalized era of all times.

Due to the pandemic of coronavirus, technology has become the central focus like never before. Internet and social media witnessed a tremendous boost as well. No doubt but the COVID-19 brought about massive success to most technological fields.

Will AI dominate in 2021? A Big Question

With progressive developments and advanced modifications in technology, Artificial Intelligence needs no introduction. This groundbreaking technology has been so promising for the past several years and is moving at an advanced pace.

We are Captivated by Artificial Intelligence

Agreeing with the fact that the technologies are captivating us completely with their interesting innovations and gadgets. From Artificial intelligence to machine learning, IoT, big data, virtual and augmented reality, Blockchain, and 5G; everything seems to take over the world way too soon.

Keeping it to the topic of Artificial Intelligence, this technology has expanded its grip on our lives without even making us realize that fact. In the days of the pandemic, the IT experts kept working from home and the tech-grounds kept witnessing smart ideas and AI-driven innovations.

Artificial Intelligence is also the new normal.

Artificial Intelligence is going to be the center of our new normal and it will be driving the other nascent technologies to the point towards success. Soon, AI will be the genius core of automated and robotic operations.

In the blink of an eye, Artificial Intelligence can be seen adopted by companies so rapidly and is making its way into several sectors. 2020 has seen this deployment on a wider scale as the AI experts were working from home but the progress didn’t see a stop in the tech fields.

For the year 2021, Artificial Intelligence is expected to level up to a great extent and is going to deliver phenomenal AI implementation.

Artificial Intelligence in 2021

Even if we talk about the days before the pandemic, AI and ML were already causing drastic changes and widespread disruption in all sectors and industries. Now after the whole year that is passed in the quarantine, in 2021 — we are expecting everything to resume back to normal.

Artificial intelligence and related technologies are going to be the biggest key components that would be impacting almost every sector. Yes, this impact is definitely going to be highly positive so we don’t have to look at the darker side — yet.

With the passing of time, AI would become a key trend that will reshape our home, personal, and work life. This can be pretty alarming right away but soon you will find the advantages that AI will bring.

-The global artificial intelligence software market is estimated to grow speedily in the coming years and would reach up to $126 billion by 2025, a recent report reflected.

In this article, I will show you the impact of Artificial Intelligence on the whole world. With the below-written trends, you will be able to gain an insight into how Artificial Intelligence is reshaping every sector.

It is predicted that whoever leads artificial intelligence in 2030 will continue to rule the world in 2100.

Trends in Artificial Intelligence for 2021

Will AI dominate in 2021? It is the hottest topic and the biggest question running through everybody’s mind.

Hyperautomation:

Artificial Intelligence is going to bring a huge change in the industry and in almost all sectors. We are looking forward to seeing Hyperautomation in every field. This is basically the idea of embedding everything with the automated processes. The repetitive tasks must be done with automation.

AI-powered solutions will help businesses a lot over here and would help these businesses to be redefined. Intelligent technologies will also reshape workplaces with phenomenal capabilities.

AI-driven dynamic operating models:

Most industries are going to adopt Artificial Intelligence for data-driven strategies and to come up with smart technologies and solutions. Due to the pandemic, almost every business has witnessed a loss. Now, everybody is pretty clear that their future plans need to be smoothed out, via Artificial intelligence.

Also, Artificial intelligence is going to bring rapid changes in decision-making as well. Companies look forward to saving their time and cost both and this would be enabled by using the AI.

Autonomous operations for increased efficiency:

In almost every sector, management looks for options that can help the company to be efficient and more secure than ever. AI will bring a boost and the businesses will implement the technology to bring autonomous operations on the stage that will enhance efficiency and the processes will get simplified.

Multiple technologies will play a significant role and the AI will become the center of the activities. Taking care of all the operations and making them more simplified and enhanced, AI will play a vital plank.

AI Engineering:

The field of Artificial intelligence engineering is on the rise. People look forward to pursuing their career paths in the niche of AI to get a secure job future. CEOs and IT leaders of the company are looking forward to deploying new artificial intelligence systems that are maintained and more simplified.

AI is also becoming the core of education and we are going to witness a huge change in the education field knowing as the personalized learning in the form of ML or machine learning. Companies are also going to go for robust engineering strategies to enhance performance.

Convergence of AI into AIoT:

The AI and IoT are turning old concepts into the new concept of AIoT — and it’s on the rise. The internet of things and artificial intelligence are being combined to come up with a newer form of technology. Adding AI into the IoT would help the AIoT to complete the tasks and to learn the data without the involvement of humans.

AIoT will be a lot more defined and will dominate the tech industry. Up to 21% of homes will become smart homes in 2021. AIoT will also be able to adjust in the cities and buildings.

Edge AI:

Another amazing concept is brought about by Artificial intelligence and the technology of the internet of things. Edge-AI is the technology of moving the decision-making process seamlessly and the provision of secure and analyzed data is the responsibility of edge AI as well. This is the pure blend of edge computing and artificial intelligence.

With the help of edge-AI, the smart devices would use AI algorithms and edge computing to come up with the data processing. This will be deployed to every smart gadget and device including mobiles, laptops, drones, robots, self-driven cars, and cameras, etc.

The total cost of AI:

Earlier, it was considered as only the tech giants can use the AI technology but now the startups and the small software initiatives can also look out for the deployment of Artificial intelligence. It is now more accessible to all the companies and they can use the tools of their choice along with the frameworks.

The projects that are powered by AI and ML are expected to grow tremendously. The companies are looking forward to integrating AI into their systems and making their processes go seamless.

Explainable AI:

Explainable AI is going to be in the trend of 2021 and is going to dominate for sure. The explainable AI would help the data scientists to create trust across all the companies and the merchandise that are dealing with the AI and ML projects. The model explainability will also be kept in front of AI experts.

The biggest artificial intelligence vendor, Google, has also offered the development tools and frameworks revolving around the concept of explainable AI. We are looking forward to seeing some more interesting projects that are based on the explainable modules of AI.

Quantum computing on rise:

If we say AI is here to stay — then it would definitely not be wrong. As we can see that along with AI, quantum computing is also on the rise. Here AI will combine with the quantum theory that revolves around the concept of computer technology and its principles. Both the technologies together are going to bring drastic changes.

With the increased demand for computer science and technology, artificial intelligence and quantum computing are the most thriving technologies of the industry.

AI as the service:

The demand for AI is rapidly increasing. People are looking for the experts of AI and the professionals who can create custom AI projects so this is indirectly helping the artificial intelligence experts to rise in demand. These professionals are working to provide IT services as well.

Artificial intelligence will continue to thrive for a very long so if the students are going to opt for this career field, they are definitely going to land a bright future.

Parting Shot:

Artificial Intelligence will continue to dominate the world in 2021. It will soon take over every sector and industry and will continue to thrive.

Faraz Qureshi

Faraz Qureshi is one of the most eminent and exceptional content writers, who has been a part of the writing industry for quite some time now. He has also been associated with assignmentmaster.co.uk as a research analyst. He has the skills to mold the words that impress others immediately.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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