AI & Today’s Business
Effect of Artificial Intelligence in Today’s Businesses
Artificial intelligence has entered into our lives in a big way, and there are no signs of it slowing down, as it impacts so many aspects of our everyday lives. According to a reputable data analysis firms, Tractica, the market for AI enterprise software will grow up to $39 billion by the year 2025. The AI impact is a complex theory, especially during the transition stage. The statistics for the year 2016 show that it is moving beyond $654 million. The AI impacts and the change in business strategy is a complicated issue to understand.
AI is being used across various business sectors. Some of the essential segments for the growth of Artificial Intelligence revenues are machine learning, understanding and language processing, computer visioning, deep learning, and machine reasoning. It can be used in various functional areas of businesses, which eventually allow for improving business operations, and also for achieving end-user satisfaction. AI impact should be understood according to the industry we are analysing as the same rule will not apply to all sectors.
Let us look at some of the critical areas that are seeing the AI impact:
Detection of objects by machines and vehicles:
The self-driving or driverless cars will become the next significant breakthrough in transportation technology. With the world pushing towards electric cars, we can expect to see all new and different kinds of vehicles supported by AI, by the year 2030.
AI has also helped in creating autonomous vehicles like robot workers for warehouses, smart drones, and forklifts. These vehicles have sensors for calculating the distance between the objects and other vehicles, routes to the destinations, condition of the roads, identifying the potential hazards, etc. The AI enabled vehicles and machines can work restlessly, even when you are performing other tasks. They won’t ask you to stop for a break, or for lunch. The AI impact should be dealt with carefully.
Although it is the machines that are working, they have the intelligence to prioritise the actions. When left with no choice, self-drive vehicles will avoid hitting the pedestrians first, and then the trees, or the walls. Humans might not be able to make such split-second decisions, because of fear and other emotions. The AI impact on the road will be visible in few years time. Autonomous vehicles have now become a reality, and many prototypes have been tested on real roads.AI impacts on all the jobs in future is imminent.
AI Impacts: Tagging and classification of big-data, including voice and images:
Artificial intelligence is also being deployed in various other sectors like security and law enforcement, entertainment, media, recruitments, etc. It gives the ability to search and retrieve the data from large volumes of diverse databases.
AI Impacts: Planning of preventive maintenance:
Companies like airlines and big taxi fleet will have to ensure that their vehicles are always in the best running conditions, to achieve customer satisfaction. AI can help a lot in fleet management, by providing timely reminders on preventive maintenance services. The AI impacts in the mechanical engineering industry are immense. That will eventually help the companies in reducing the failures of equipment, which will effectively help in reducing negative reviews from the customers, and also the mishaps due to vehicle breakdowns. Please check ONEBUSINESS for more info.
There are many other ways in which AI will impact the businesses of today:
- Preventing and tackling cyber security threats
- For performing high-level analytics to gain business critical insights
- Helping the human resource departments in making smart recruitments and hiring the right candidates
- Assisting online traders in improving their performance
- and lots more
Now is the right time for businesses should start using AI impact in full swing in the business operations, to achieve long-term success.
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