The year 2018 is seeing an explosion in the use of artificial intelligence and machine learning. Applications of AI are everywhere. Artificial Intelligence framework and tools are taking us to a stage where we are gaining the capacity to turn limitations into a source of possibility.
The AI market is predicted to grow from USD 21.46 Billion in 2018 to USD 190.61 Billion by 2025.
We have heard the use of AI in customer service as virtual assistant, in the healthcare industry as robotic surgeons, in the automobile industry as self driving cars, in the predictive analytics function of any business, in the customer care as voice assistant, as visual search assistant and in all occasions where there is a preference for personalization. There is no denying that the technology has advanced in leaps and bounds. Artificial intelligence software is profoundly used to automate and robotize several business functionalities. The latest to join in this list of applications is “AI as the news anchor.” This news anchor is able to work for 24 hours bringing a brand new news experience to the viewers.
Several Top AI companies are investing huge and are committed intensely to explore and deliver the possible applications of artificial intelligence in many business areas. Apple Inc., Facebook, Google Inc., IBM Corporation, Microsoft Corporation are some of the key players of Artificial Intelligence forging new advances and deliverance of AI enhanced products and services.
The overall adoption of AI has been high for businesses. Right from e-commerce, to workplace communication, to resource management to healthcare, to supply chain, the technology is currently put in use to operate several business functions across verticals of industries. The integration and implementation of AI have resulted in increased customer satisfaction and improved business functionalities and value.
The top three advantages of using AI can be as follows;
What can this mean for your business?
Predictions are that by 2025, most of the communication that a brand can have with its users will be through bots – the virtual assistants’ right from a phone. So, it makes the right time for you to transform and optimize your business operations by leveraging artificial intelligence. You can target higher sales with improved competitive advantages with this technology.
Intelligent sensors, sensible drones, embedded intelligence, deep learning, predictive analytics and other break-through innovations in AI technology is sure to help every business provide greater value to its customers. Generating new leads and offering enhanced customer experience is limitless with AI.
Whatever hasn’t been done yet, or was not humanly possible, will be done by artificial intelligence. So, businesses should infuse AI to gain real-time insights of data, better understand their customers and execute dynamic creative personalization at a good speed and reduced cost.
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