The future impact of artificial intelligence
Artificial intelligence is changing the way businesses work on the employee and client side, and interact with processes, products and people. It is predicted that by 2022, the global artificial intelligence software market will reach US$62 billion, an increase of more than 20%. This digitalization is changing the game for companies across all industries as it enables smarter, leaner and more cost-effective business operations and drives more agile operations in today’s disruptive environment.
With this in mind, let’s take a look at the impact artificial intelligence may have in the future, as the technology continues to evolve and infiltrate more business use cases.
Impact on Enterprise Plans
Businesses of all sizes and across multiple industries appear to continue to use artificial intelligence as a part of its business strategy. By taking a step back and taking a joined-up, strategic approach to implementing AI-enhanced technologies such as intelligent automation, leaders can reap clear business benefits, including but not limited to improved customer service, increased competitiveness, increased productivity and a more satisfied workforce.
Whether it’s reducing customer wait times in financial services, making supply chains more resilient and flexible, or improving patient care by minimizing manual administrative work, intelligent automation can be the key to realizing a business’s strategic plans. driving factors.
Evolving Workforce
With AI-driven technology to improve processes and transform, businesses can reimagine their operations using a digital-first mindset Way. This, in turn, will allow employees to focus on more purposeful duties, including those focused on customer service, and less focused on administrative functions.
Relatively speaking, intelligent automation technology is the easier part of process improvement and transformation. Intelligent automation makes the implementation of operational reengineering much simpler and has a huge impact on the way businesses view their employees, work and implement changes that have strategic value to the business.
The capabilities of digital robots allow technology to do the heavy lifting, empowering employees to do more meaningful and complex work. The focus is on shifting human capital towards revenue-generating, or customer-focused activities, which will give way to enhanced capabilities, more fulfilling work for employees, and more flexibility and scalability of resources across industries .
As more and more businesses work on artificial intelligence and other transformative technologies, we will see more and more businesses around the world being affected and moving in a better direction.
Autonomous Network
In today’s fast-paced digital and business world, businesses rely on the network for their daily operations. However, deploying network services to meet the demands of this new hybrid world of work now requires a network that leverages artificial intelligence and other autonomous capabilities.
Automation itself, and the idea that technology can self-provision, self-diagnose and self-heal, has been around for a while, but, thanks to advances in artificial intelligence, autonomous networks are now becoming a reality.
Through independent configuration, monitoring and maintenance, autonomous networks operate with little to no human intervention. Artificial intelligence is now having a major impact on enterprises, replacing restrictive, error-prone networks and relieving overburdened IT teams that are tasked with finding and solving problems rather than empowering and enabling people and connections .
Everyone can benefit from an autonomous network powered by artificial intelligence. For medical facilities, such networks have the ability, for example, to connect medical helicopters with doctors on helipads or monitor intravenous pumps that keep patients alive.
For schools, they can create a networked classroom with supporting software to help children overcome learning challenges, or monitor attendance and proactively engage disengaged students in education.
Personalization and Customization
On the customer side, users of digital services have been benefiting from the deployment of artificial intelligence, which has been proven to increase the efficiency of user engagement. Although AI is still in its relatively early stages of development, it looks like it will support increased personalization and customization over time.
As we enter a new metaverse era, we will only have access to more and more data points, which means we will be able to use AI more effectively to create tailored experiences for customers.
In the future, our brand experience will always be customized. For example, when entering a supermarket in the Metaverse, the shelves will be stacked in different ways.
Artificial intelligence is already driving better online recommendations and targeted advertising. In the future, it will also transcend and influence interactions. In the past few years, we have seen more and more practical applications of artificial intelligence technology, and in the coming years, it will become widespread. As artificial intelligence becomes a part of our daily lives, it is crucial to remember and protect privacy. The data processed should always be anonymous and used only for specific purposes.
Artificial Intelligence in Industry
As artificial intelligence continues to develop in the coming years, it will disrupt more operations in more industries, resulting in greater efficiency and less labor for workers. pressure. The biggest impact of AI will come from those enterprises that can most effectively put models into production and find ways to best integrate these models with existing business processes.
The highest transformational potential of AI may lie in healthcare, where despite the current adoption rate of 36%, healthcare applications, such as improved diagnostic methods or protein folding, could bring extraordinary social and economic returns.
And other industries such as construction and logistics can use ML models to optimize services. For example, the construction industry uses ML models to optimize services when planning projects and prevent accidents and improve safety by detecting potential risks on site.
We’re also seeing better AI performance, driven by improvements in the way developers create models and the fact that we can compress models and run them on edge hardware, allowing more application. AI is also becoming more accessible thanks to the emergence of technologies such as AI marketplaces, AI makers, teacher toolkits, and low-code, no-code AI platforms.
All in all, these improvements have greatly increased the application of artificial intelligence in industry, and by the end of 2021, nearly one-third of enterprises will have models in production.
Machine Health in Manufacturing
The manufacturing industry will see tremendous potential for innovation through an emerging framework called machine health. This feature uses IoT and artificial intelligence to predict and prevent industrial machine failures and improve machine performance through analytics.
Artificial intelligence is leading the fourth industrial revolution together with technologies such as automation and the Internet of Things. Manufacturing is one of the industries that is already seeing huge benefits as AI is used to provide greater visibility into the processes, efficiencies and capabilities of these businesses. A key example is an AI-driven solution that monitors machine health, providing predictive analytics on critical and ancillary equipment within manufacturing plants.
Sensors capture vibration, temperature and magnetic data from industrial machines, and artificial intelligence uses this data and input from human reliability experts to diagnose machine problems, explain what caused the problem, and develop a course of action.
The impact of this artificial intelligence use case is huge. When a critical machine fails, the entire production line will come to a standstill, which will have serious upstream and downstream impacts on the entire supply chain. As a result, machine health enables manufacturers to strengthen their resilience to supply chain issues or global events that impact production.
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