How Will Artificial Intelligence Affect The Business World In The Future

Artificial intelligence (AI) is rapidly leaving research labs and entering the business world. Industry leaders in hundreds of niches are harnessing the potential of artificial intelligence, from call centers using chatbots to enhance customer interactions, to banks analyzing numerous data points in seconds to detect fraudulent activity.

Creating a Customer Avatar

As business leaders use this technology to make more informed business decisions and make better predictions of customer behavior through data, customers are increasingly getting used to the use of AI. According to a recent survey, 51% of customers report that their expectations of companies are now affected by artificial intelligence. When the future of artificial intelligence is determined to change business rules, organizations need to know how to prepare to better reap the benefits of artificial intelligence. Here are the things to know about this subject;

How Do Businesses Use Artificial Intelligence Today?

At times, various leading industry players are increasingly eager to take advantage of the opportunities AI offers in their respective niches. Amir Hussain, founder and CEO of the well-known machine learning (ML) company SparkCognition, describes AI as a kind of software rebirth. He even states that this software is a form of software that makes decisions on its own and can act in situations that are not predicted by programmers. Unlike traditional software, artificial intelligence has a wider decision-making ability.

Such features of artificial intelligence are some of the many features that make artificial intelligence an extremely valuable asset in a variety of industries. Artificial intelligence; It can perform from complex tasks such as determining that a wind turbine needs repair, to tasks as simple as helping a visitor and staff find their way.

In addition, artificial intelligence also shows great potential in the health sector, It is often used in health systems that capture large amounts of data, which does not make patients as challenging as old technologies, especially. For example, smart devices collect data from sensors attached to patients being monitored remotely. This data is then contextualized with machine learning algorithms and passed on to doctors or general practitioners to monitor the patient’s vitals and make better decisions accordingly.

In technologies with such complexity increasing day by day, it becomes increasingly difficult to ensure security. It is not impossible for every company to have a cyber security expert to solve this security problem. In this case, artificial intelligence plays an increasingly important role here as well.

AI is also changing the customer relationship management (CRM) environment. Software systems often require qualified personnel intervention to stay accurate and up-to-date. But when AI integrates with these platforms, a normal CRM system evolves into an automated and self-updating system that keeps businesses at the top of their relationship management games.

The impact of artificial intelligence on business has already begun and will continue to increase. For example, there are multiple companies already offering AI-powered chatbots on the market. Entering a lawyer website for example, these chatbot features can help answer questions. And by answering the most frequently asked questions, it can increase the potential for assistance and ensure customer satisfaction. AI has touched every industry in some way and its effects have been far-reaching and will continue to be.

Artificial Intelligence Business Trends To Watch Out For

Competition in the business world is a fierce arena. Companies that want to take their place and rise in this arena must be open to innovations required by the age. Artificial intelligence is one of them. Artificial intelligence trends to be considered in the business world can be listed as follows;

The rise of AI-powered chips

The dependence of AI on proprietary processors to deliver the best results has facilitated the rise of AI-powered chips. Even the fastest central processing units (CPUs) may not increase the speed of training an AI model. Chip manufacturers such as AMD, Intel, NVIDIA, and Qualcomm will send special chips to speed up the execution of AI-enabled applications. These chips will be optimized for scenarios such as vision, computer natural language processing, and speech recognition, among others. Applications from the healthcare and auto industries will rely on these chips in the near future to provide intelligence.

The importance of automatic machine learning

One trend that will soon turn ML-based solutions upside down is AutoML. Automation in machine learning will basically empower business analysts and developers to develop machine learning models that can handle complex situations without going through the typical process of training ML models.

Automation of DevOps by AI via AIOps

A large amount of log data generated by cutting-edge applications and infrastructure is captured for indexing, searching, and analytics. These enormous datasets can be collected and correlated to find patterns and insights.

How Should Businesses Be Prepared for an Artificial Intelligence Powered Future?

Currently, it is a bit difficult to understand how technology will evolve, but there is one issue that most experts agree with; With these technologies, normal tasks become even easier. This simply means that advanced AI applications such as robots will be extremely useful in completing daily tasks, which will facilitate scalability in the business world.

According to Russell Glenister, CEO and founder of Curation Zone, AI is starting to enable things that were once thought impossible, such as self-driving cars. And self-driving cars have become a reality because of access to training data and fast GPUs (graphics processing units), both of which are essential facilitators. An enormous amount of accurate data is required to train self-driving cars, and speed is the key to undertaking training. Five years ago processors were very slow, but the introduction of GPUs made anything possible.

According to Glenister; GPUs will become faster and improve applications of artificial intelligence software all over the world. In this sense, fast processes and a large number of clean data are the keys to the success of artificial intelligence. Nara Logics’ co-founder and CTO Dr. Other analysts such as Nathan Wilson are on the cusp of revolutionizing this technology in familiar activities such as the catering industry. Wilson envisions that AI can be used when used by a restaurant, for example to decide what music to play based on the interests of the guests present there. Similarly, AI can even change the appearance of the wallpaper based on what the technology predicts the aesthetic preferences of the crowd.

According to experts, artificial intelligence predicts that it will extract digital technology from the two-dimensional form that is confined to the screen people are used to. Instead, the primary user interface will become the physical environment surrounding an individual. Until now, internet users have always relied on a two-dimensional display to play a game, interact with a web page or read an e-book. Now, what will happen with the combination of artificial intelligence and [internet of things] is that the screen will not be the main interface, that is, the environment will be. People will always be online and design their surroundings and experiences. So they will design the buildings or meeting rooms inside them, just like they think. These will be 3D experiences that can be seen in the future.

As a result, advances in AI will begin to have an impact in ways that will soon help businesses and society at large tackle a wider range of common problems. Such advances will also make it possible to automate more complex physical tasks that require both agility and adaptability. While AI technology may not be fully mature in the next five to 10 years, it is definitely on its way to bring about much greater changes than what is currently thought (than imagined).