Here is a piece of excellent news from the Massachusetts Institute of Technology. A team of experts at MIT has developed an innovative AI-based tool that can forecast how a specific technology improves. Relying on this tool, enterprises would find it easy and fruitful to research technologies and arrive at insightful decisions.
The researchers found that the fastest-improving technologies are mostly related to software. The focus areas include enterprise security, network management, and media transmission. The detailed study was led by an Indian-origin researcher, Anuraag Singh from MIT.
Furthermore, the researchers have also formed a start-up termed Technext to assist enterprises in anticipating possible technological advances, disruptions, and breakthroughs.
The research team who derived the tool had also constructed a free and publicly accessible tool for using the system. This is especially useful for academic readers. In addition, the study draws inspiration from about two decades of thorough research at MIT.
Tools such as machine learning, empirical technology performance data, and parent network analytics were utilized by the team to derive valuable insights about the future potential of technologies.
The tool will be highly useful in implementing the USD 2.2 trillion in the yearly global R&D funding more effectively. Effective deployment of funds enables enterprises to avoid less-potential and over-hyped research and technologies, say the researchers.
The tool is beneficial for technologists who often have to choose between technologies in due course. Certain technologies are often over-hyped, and they are prioritized. That’s why such a tool can make a huge difference. Credible information can be arrived upon based on which insightful selection of technologies can be made.
The study focuses on the predicted improvement rates for about 1,757 technology domains by covering approximately 97.2% of the patent system in the US.