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Artificial Intelligence (AI)
13 Aug 2021

Artificial Intelligence (AI) To Transform The IT Industry

The evolvement of Artificial Intelligence (AI) represents an unrivaled scope in all sectors than ever before.  The streams capable of exploiting these current aspects can enhance, streamline and revolutionize their business and services innovatively for a new generation of consumers. Artificial Intelligence showcases a good deal of challenges and transformational opportunities for enterprises. Also, AI tools have the power to revolutionize businesses, industries, or even society as a whole. 

 

Artificial Intelligence:

Artificial Intelligence (AI) has become an integral part of all industrial sectors across the globe in today’s world of technological developments. Moreover, it has become part and parcel of almost all businesses, and homes and its demand and popularity increase among the folks.  AI can revolutionize how industries operate and manage data. It can work profusely to handle human resources, business processes, sales, marketing, and customer care. 

Think of your Alexa and Google Homes; these are just some of the examples of technology that almost everyone is trying to leverage. 

What makes AI stand out is the fact that fewer humans are needed, thus removing the possibilities of human error. So it works powerfully to increase profitability and efficiency when applied to business operations. According to a stat conducted by BCG along with Sloan Management, to sort out the gap between AI expectation and reality, it was found that 23% of companies have incorporated AI in their business while another 23% are working on pilots. AI got worldwide acceptance when a majority of the business firms moved towards AI-based startups and firms. 

 

How is AI Transforming Modern Business?

We can witness the intervention of AI in modern business processes and the automation features it provides. Moreover, organizations are looking for streamlining business operations along with reducing overhead expenses. Automation in various business sectors is always an appreciated business element as all these will favor better client satisfaction.   

In many cases, AI-driven technologies can function as a standalone business solution, and AI components can work to make the process more advanced and efficient. For instance, AI is now used to assist developers in creating web pages and layouts based on the business target. The intervention of AI highly influences fleet management.

 

Benefits Of Artificial Intelligence Across Industries:

There are a plethora of opportunities that can be gained from AI. Artificial Intelligence has the power to transform every business sector across the globe. Automation of processes has been one of the major benefits for growing businesses. Data scientists rely on machine learning technology to derive accurate and efficient reports while conducting business analysis.

 

AI Bringing Revolutionary Changes Across Industries:

 

Chatbots For Better Customer Support:

Modern businesses use AI-powered chatbots for business communications, mainly for customer sales and support. The integration of chatbots enhances customer engagements, increases business revenues, collects data efficiently, and cuts operational costs. These chatbots reduce the need for human intervention and allow customers to engage and interact during non-working hours. It can also reduce the cost of traditional customer equipment. Juniper Research Report estimates and expects that the transactions via chatbots will grow in 2023 by $112Bn.

 

AI-Powered Chips To Boost Performance:

AI-powered chips empower industries with specific applications that run on AI algorithms like facial recognition, object detection, Natural Language Processing, computer vision, etc. These chips upgrade the performance of applications used in various industries such as healthcare, gaming, manufacturing industries, banking, finance, etc. 

 

AI In Cybersecurity:

Every modern business is occupied with a bulk amount of data. As the accessibility of data has increased, it has led to massive growth in cyber attacks. Organizations are investing more to boost their cybersecurity infrastructure. Advanced cybersecurity measures will play a crucial role in enhancing security, reducing threats, and preventing security breaches.

 

Demand For Voice-Based Searches:

The use of voice-based searches has increased now than ever. Every day, we come across many applications like Google Assistant, Alexa, Siri, etc., to reduce our efforts and make life smoother. Most people prefer to use voice searches rather than typing. According to Statista, it is estimated that, by 2021, around 8 Bn digital voice assistants will be in use. 

 

Wrapping Up:

Advanced technologies will continue to transform businesses in the coming years. Artificial Technology will revolutionize the industry with its innovative advancements. It will contribute to unlocking new opportunities for growth and expansion.  

Artificial Intelligence can expand its footprint, make data-driven financial decisions, innovate and bestow a hassle-free experience to clients and investors. Thus companies can leverage these AI technologies in every step of their business and enfold an ambiance that can make way for greater collaboration, come up with sophisticated products that can successfully meet the needs of the next- generation.  

So, we can state that we should not harness these innovative technologies in isolation. They should primarily be aligned to both business strategies and should ideally be tied to the existing business system

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