ICO creates another Wild West
Next year we will begin to see the results from the growth in the initial coin offering (ICO) frenzy from this year. Investors have poured more than $300B into more than 200 ICOs this year, but it’s still a very unregulated market with a mix of players attempting to gain early entry. While legitimate companies are seeking and benefiting from crypto-token funding, there is still a lot of dubious activity from questionable characters in the space trying to make a quick buck. If crypto-token equity begins to take hold and legitimizes its worth to investors who pursued ICOs this year, then in 2018 the startup market will become the wild freaking west.
AI will not transform the enterprise in the near future
Previous predictions and claims about the direct impact of AI on enterprises have been overblown. There is excessive hype around how AI will lead us to new discoveries and medical breakthroughs. However, those expecting AI to be the ultimate truth conveyer are mistaken. It will be very hard to design a model that can determine unbiased truth, because human bias – whether explicitly or implicitly – will be coded into these data analytics systems and reinforce existing beliefs and prejudices. With that said, there are certain applications where systems can make better decisions in a shorter amount of time than humans, such as in the case of autonomous vehicles. In 2018 we will begin to see real use cases of the power of AI appear in our everyday lives — it just isn’t ready to be the shining star for the enterprise quite yet. When you look at the maturity of the enterprise, only half of the Global 2000 offer fully digital products. So, despite all of the buzz around digital transformation, there’s a lot of catch-up to be done before many of these companies can even consider looking at advanced developments such as AI.