Artificial Intelligence is something everyone is interested in, though the results haven’t been on the positive side every time. In fact, a report says while 9 out of 10 companies invest in it, 70 percent witnessed minimal to no impact by AI. Is AI really that ineffective? Or is it that the technology wasn’t utilized sufficiently?
The year 2020 and beyond completely belong to AI only if the C-suites assess it along with ROIs that have visible results. The leaders will have to take the charge for the efficient usage of the technology and its applicability in their business process.
This article deals with everything AI is up to this year and the points the C-suites should really consider while investing in it for the coming years.
You might also want to read: Top 8 Technology Trends for 2020 and Beyond
AI Will Turn Smarter
Over the years, we have probably mistaken AI with predefined outputs. AI had always been a part of “inputs vs fixed corresponding outputs.” From the very start, we have “trained” the artificially intelligent machines for the outputs.
However, AI, in recent times, is self-learning and can generate out-of-the-box ideas. Projects like GANLab have shown up that make machine learning go past the conventional approach. AI can now see, learn, and yield high-quality results.
Correct Its Mistakes
AI is basically programs that are designed artificially. Much like human brains, they commit mistakes. While humans have the tendency to correct themselves with their ethics, AI has missed out on that part.
AI is now introduced to more critical domains like medicine, banking, transportation, and law enforcement where every mistake seeks intense justification. Scientists are trying to enhance the neural networks and their functions without degrading the performance charts. There are several initiatives aiming at creating laser-focused attributes to deliver automated decisions.
Explainable AI is already on the rise, which commits to the much-needed ethics we have been talking about, and with time, it will serve for the better.
Will Create Its Own Environment
It seems surprising, but it surely can. AI has the ability to become the new Operating System for your business. Dzone has already discussed the term “Operationalization” and how AI manages it. The term is discussed in two parts and explains how AI has been trained to manage the 6 step Machine Learning Model step by step i.e.,
B2B Getting More Streamlined
B2B services are more complex than they actually look from the outside. Extending AI’s abilities at managing models, it can streamline B2B complexities. The self-learning machines can understand and interpret complex requirements at either of the ends vi$$anonymous$$n intuitive and needs-identification process. To top it all, the data-driven concept can engage a huge understanding of future trading partners, their strengths, and their capabilities.
Acquaint Yourself for Hyperautomation
Gartner introduces Hyperautomation as among its Top 10 strategic technology trends for 2020. As it claims, ”Hyperautomation often results in the creation of a digital twin of the organization.” And why not, it includes everything an organization needs to enhance AI-driven decision making like Robotic Process Automation, Intelligent Business Process Management Software, and more.
Smarter Contact Centers
Extending AI’s capabilities at resolving complex requirements in the likes of B2B, the contact centers can turn more comforting. Machine-driven programs can attend complex customer queries, allowing them to render timely responses and avoid hours of wait times.
One of the recent blogs in Dzone explains “why Customer Support needs to be replaced by Chatbots”. The blog explains how the industry is replacing its manual support with AI-powered chatbots and how it has yielded positive results.
A similar blog explains how a Chatbot makes negotiations easier for an e-commerce store saving the user and the vendors from hours of conventional email chit-chats. This goes without saying, this idea was an immediate hit for the consumer base.
AI programs will master themselves
AI will offer out of box solutions that abide by set rules
Can help to attend very complex issues with ease
Will minimize inputs and expand output