The most disruptive cultural change that the 4th industrial revolution will come up with is likely to be executed by Artificial intelligence. Almost all the sectors like Business, Health, Education, Sports, and lifestyle will witness the change. Several enterprises and tech giants have already started reaping the harvest, but the enormous transition is yet to be seen.
But what is artificial intelligence all about?
Whenever we talk about artificial intelligence technology, what pops up in your mind? A giant Terminator-like moving structure in the backdrop of a Hollywood action movie, Holding machine gun and other destructive weapons, An absolute threat to mankind!
Indeed, that is what Elon Musk has to say. “AI is the fundamental risk to the existence of human civilization.”
Nevertheless, leaving aside the future catastrophe and hypothetical assumption, Let’s get to the technical basics and its benefits.
Fundamentally AI is a technique of making a machine work like human beings by stimulating the human intelligence into it. It is capable of thinking, act and performs like any rational human being.
Whatever the technology may be, the set of features and benefits that follow along is an absolute virtue.
Some of the benefits of Artificial intelligence which makes the enterprises run for it.
- Gives a personalised experience.
- Automates customer interaction.
- Real-time assistance.
- Automates the functionality of operation.
- Analysing the outcome.
Some job roles which might get replaced or get big help by Artificial Intelligence Technology:
- Retail salesperson: Those are the people who directly sell their product to the visited customers, but with the advancement of artificial intelligence, The task has been pretty much simplified. Artificial intelligence can easily entertain its targeted customers and get the job done. With features like self-checkout, companies and big shopping malls can do without a salesperson.
- Advertising salespeople: These folks advertise goods to potential customers, but due to the abundant use of social media, it has become easy to buy space through free application programme interfaces known as APIS. A fully digital and self-served marketplace.
Gradually, Advertising is getting manageable and reliable.
- Market research analysts: They analyse market strength and figure out the business strategies to sustain and upgrade longevity. Automated AI compiles and integrates the data more efficiently and accurately.
- Logistics: They have already started substituting the delivery associates with drones and robots. Many cases have been found where the parcel is lost, damaged, or missing. This sort of inconvenience would soon become an extinct headache after the complete inculcation of artificial intelligence.
Some prominent bites of the business pioneers on Artificial intelligence
- Google’s CEO Sundar Pichai says AI is “one of the most important things humanity is working on” and is more profound than our development of electricity or fire.
- Mark Cuban insists business leaders must understand and embrace AI: “If any of you are entrepreneurs or in the business world and if you don’t know AI, then you’re the equivalent of somebody in 1999 saying, ‘Yeah, I’m sure this internet thing will be okay, but I don’t give a [expletive].’ It’s the same thing.”
- Elon Musk exactly framed “If you’re not concerned about AI safety, you should be. Vastly more risk than North Korea.”
- According to IBM, businesses can reduce customer service costs by up to 30% by implementing such solutions.
Artificial intelligence for cost-cutting and revenue generation:
One of the vibrant benefits of using AI is that it enables you to fix the complexity of the service that constantly impacts the customer experience and revenue generation. The solutions are primarily customer-oriented based on the customers’ problems pitched to the call centres every subsequent hour.
This approach can save millions of dollars for financially stressed businesses in today’s challenging times by enabling them to address issues that affect customer’s costs and revenue.
It strategically drops the investment and mobilizes the flow of money to a greater extent.
Microsoft AI would be one of the best frameworks for developing AI solutions regarding machine learning, Data Science, Robotics, IoT, and a lot more.
Azure AI has decades of breakthroughs, Research, and practices that enable it to deploy its own solution. When the data-cantered era is already knowing at the door, The organization using such an AI solution will rule the marketplace.