As the technological landscape is evolving toward a smarter world, the need for AI application development has grown tremendously over the years. Companies across all sectors are availing AI services to grow their business. Artificial intelligence is a market disruptor with a broad spectrum of benefits. Read further to know more about how artificial intelligence in business operations is redefining efficiency and improving performance.
The birth of AI dates back to the 1940s when a handful of scientists discussed the possibility of creating an artificial brain. At that time, the seed was sown, leading to innovative technologies and solutions.
The advent of AI has enabled companies to accomplish tasks that seemed unattainable a few years back. AI has added a new dimension to the way businesses operate and achieve efficiencies. Various enterprises have set up their own AI platforms to innovate while providing services to other organizations. As a result, technology companies and service providers have emerged to assist businesses in their AI endeavors.
The reason AI has become so important is that it helps in transforming the relationship between people and technology. It is interesting to interact with smart devices and applications like Siri, Alexa, Google Home, and Amazon Echo. The technology behind them is equally amazing.
Machine learning, big data analysis, and deep learning are the subsets of AI. These fields have gone through Rigorous developments over the past few years. Tech giants like Google, Microsoft, Amazon, and Facebook are continuously developing future technologies through smart applications. AI-powered applications can sense what a customer is looking for by studying their behavior. Natural language processing enables marketers to understand customers’ sentiments. It enables applications to analyze their behavior, extract valuable information, and detect any criticality.
Recommendation engines, predictive analytics, computer vision, natural language processing, chatbot development, all come under the AI umbrella.
When it comes to research, e-commerce giant, Amazon has the best recommendation engines. Their product recommendations match customer preferences to improve upselling.
Chatbots now serve as tools to remind customers if they have items left in their cart. They also act as customer service agents to handle common issues.
Amazon’s Alexa, Google voice assistant, and Microsoft’s Cortana all use natural language processing to interact with users. They receive initial training through machine learning technology and soon begin to learn themselves based on the data inputs. That’s the power of AI.
Computer vision is another pioneering technology that is transforming the AI landscape. Big brands like Coca-Cola are using ‘Computer Vision’ to improve and grow their business. Processing images, promoting products, and detecting competitors are possible with it.
Likewise, predictive analytics has its own set of benefits. Enterprises are gaining more because of the ability to detect potential risks and minimize them.
Leading businesses are transforming their core operations with AI. It is not confined to science fiction books or movies anymore. The world is already experiencing it. So it is necessary to know what more has AI technology in store for us.
One major issue highlighted by AI critics is job losses. However, researchers and data scientists are of the opinion that AI won’t replace human workers but will complement and support them. AI will enable them with better, faster and more accurate decision-making capabilities.
Future technology is gearing up to develop human-like robots. With the advancements in robotics to incorporate AI, robots will become useful in numerous ways. In the near future, human-like robots will be used to perform the tasks potentially hazardous for humans.
Scientists are also developing virtual assistants, that will essentially be advanced versions of Amazon’s Alexa or Google’s voice assistant. AI-driven virtual assistants will be able to anticipate your needs and fulfill them without the need for instructions.
Medical care is expected to improve with AI breaking into the field. Diagnosis of rare diseases or detection of chronic diseases at an early stage is already possible. Soon, there will be wearable devices that will detect blood sugar levels for diabetics and transmit data to the doctor. That is the scale of advancement expected in healthcare with AI.
AI and robotics are also expected to develop robots nearing human efficiency. Such robots can take care of patients who need supervision. Also, they might be able to take care of little babies and elderly people.
Want to include AI capabilities in your business operations? Talk to a member of our AI team today. We have developed an AI toolkit to accelerate the development of AI-based business solutions.
Don’t know where to start? Your path into the world of AI begins here. Talk to us now.