AI trends in analysis of disruptive innovation and what it means for business leaders
Discussing technology, many would think of physical devices, ones with monitor, equipped with the screen used by a sensor; in fact, disruptive technology tends to focus more on leveraging internal system efficiency. As we go through several highlighted analyses of the pattern of 2018 disruptive technology, we reckoned that most recently established companies are rising from technology basis offering significant potential for improving methods and systems used in companies and society.
Looking ahead to 2019 and the near future, regardless of diverse industries, disruptive innovation is much less driven by these several technology trends.
It is nevertheless difficult to closely predict future trends of technology development by merely reviewing the history; instead, our consumers will give away suggestions to further improve shortages in some industries. Automation technology to sustainable development is the two among mostly searched inputs. More importantly, what it means for AI leaders in carefully forecasting and wavering consumer preferences and operating businesses with less depletion of natural resources.
Recent years show a significant shift in business strategy in navigating artificial intelligence at the core of many business plans. Companies are investing more of their effort and talent with very same goals – reducing operating costs, achieving comparative advantages or further leading the wave of technology — tools such as machine learning, automated process, natural language process with the purpose of automatically run without much human intervention. AI is already on the lips of many organizations albeit components such as scale or business sector. Many businesses are considering the future benefits such as reduction in human tasks leading decreases in manufacturing and administrative costs.
How companies respond to this change and embed AI technology into business perspectives to strengthen growth? Such a question is somewhat in the debate; however not whether to lean in with the AI trend, rather how AI technology is successfully deployed to good effect and become an essential advantage of a company. Here we provide a few of the AI trends for business preferences to learn and adapt to disruptive innovation and win the game.
Logistics industry is no longer overloaded with fulfillment operations, since industrial robotics releases the heavy burden due to its capacity to deliver better productivity improvements (through the movement of scaling up and down commodities) Over the past few years, robots have been developed through several generations: robotics manufacturers to mature industrial robotics, have been assisting human workers in factories. Due to the improvement of artificial intelligence as well as machine learning, which are integrated into robotic system, robotic devices are extended with better flexibility, mobility, and safety standard. Hence, robots are finding their ways to work with human labors, rather than separated in danger areas. As a result, they soon became better in the collaborating process with human workers, work together with people, albeit some extent of human direction.
According to a study by Supply chain management review, Amazon after acquiring a robotic system, known as Kiva Systems, have been enabled to accelerate delivery times and decrease fulfillment costs. This achievement was gain through the effective use of increased 80,000 robots at 25 distribution centers, paving the way for a reduction of 20% in the operating costs.
Another example of AI-powered innovation in customer relationship management to be named is Chatbot or AI chatbot. Chatbots have been integrated into many business online services with the purpose of helping sales funnel and gaining customer contacts.
In the time that customers are fond of self-service, conversational chatbots will become helpful in giving directional instructions to customers so that they can fulfill their wish by themselves.
Chatbot has made it possible for any customer to reach their favorite brands virtually at any time. In fast-food business, if integrated into a social media platform, where young customers crowdedly participate, chatbot is one technology to record repeated orders, announce short pieces of information about promotions, prices available when needed.
The famous and widely used chatbot should be given as examples here are Alexa, Google, Window’s Cortana, iOS’s Siri. These technologies have opened ways for the rise of AI chatbot used in marketing, sales, customer support service.
At the core of chatbots, data collection is the one that anyone in the marketing department cannot miss. In the age of big data, marketing managers are keen on customer preferences, frequency their brands are mentioned in word of mouth. Marketing, as a result, relies heavily on customer data to give analysis to business development. They gather, and process retrieved information by chatbots and generate meaningful insights to businesses.
It is safe to say that conversational customer interface provides personalized experiences that enhance customer service when dealing with online visitors. AI chatbots not only is a powerful tool to give analysis but also an effective replacement of human labor while making sure customers are happy and satisfied with their services, thus are more likely to increase brand loyalty.
Just as what AI can be applied in customer services for business growth, so too can its technology in social facilities to improve the current status of healthcare. AI has assisted medical doctors in researching for prediction of various dangerous diseases. In research reported on LabRoots, doctors now can use AI to predict the efficacy of immunotherapy – a treatment against fatal diseases such as cancer by the use of a particular body immune system to combat illness. With such an achievement, doctors or medical institution can better identify patients who are most likely to positively respond to immunotherapy to predict efficacy over cost ratio per treatment.
AI wave is already everywhere across business sectors and industries and embedded in the core value of several businesses. Future holds many unveiled potential development of AI, however, require flexibility in approaching and examining arising issues. New findings across industry show that AI innovation is one of the most potent disruptive movement among all, as it fills the gap between human’s incapability and human’s desire. Through constant automated learning, AI-driven systems can sustainably run with gradually decreased human support, making the systems themselves more effective and pricelessly worthy.