AI trends in innovative revolution 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, pioneering technology tends to focus more on leveraging internal system efficiency. By utilizing AI and other powerful technology, more and more problems addressed in the past, now have been solved. As we go through several highlighted analyses of the pattern of 2019 breakthrough in technology, we reckoned that most recently established companies are rising from AI trends offering significant potential for improving methods and systems used in companies and society.
Looking ahead to 2020 and the near future, regardless of diverse industries, innovation is much less driven by these several technology trends.
AI trends and future prosperity
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. That are the 2 goals: reducing operating costs, achieving comparative advantages or further leading the wave of technology. And to reach the goals, they aim to machine learning, automated process, natural language process with the purpose of automatically run without much human intervention. AI trends 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 innovation and win the game.
Logistics industry is no longer overloaded with fulfillment operations. And industrial robotics releases the heavy burden, since its capacity delivers better productivity improvements (through the movement of scaling up and down commodities). Over the past few years, robots have been through several generations. For example, the modernization from robotics manufacturers to mature industrial robotics, assists human workers in factories. Due to the improvement of artificial intelligence as well as machine learning, robotic devices extends their 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, Kiva Systems, enable to accelerate delivery times and decrease fulfillment costs. This achievement resulted from 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. Therefore, they can fulfill their wish by themselves.
Chatbot has made it possible for any customer to reach their favorite brands virtually at any time. Fast-food businesses apply chatbot integrated into social media platforms. This makes it easier to record repeated orders, or to announce short pieces of information about promotions available when needed. Thank to AI Chatbot, fast-food restaurants can better serve their customers without cost escalation.
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 more focusing on customer preferences, frequency their brands’ perception through 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. And this can 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. And make sure customers are happy with their services, thus are more likely to increase brand loyalty.
Just as what AI appears in customer services for business growth, so 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 movement among all. Because it fills the gap between human’s incapability and human’s desire. Through constant automated learning, AI-driven systems can run with gradual decrease of human support. Also make the systems themselves more effective and valuable.