Enterprises globally are gearing up for the next big revolution that’s set to alter humanity as we know it. Indeed, Industrial Revolution 4.0 is no longer a myth propagated by the heads of tech giants but a reality that organizations are working towards. With an avalanche of tech such as Artificial intelligence (AI), Internet of Things (IoT), 5G Telephones, and Nanotechnology, the entirety of Science Technology Engineering Math (STEM) is advancing at a rapid rate. Gartner estimates that more than 30 billion devices will be connected to the Internet by 2020 – this staggering number highlights the immense potential for digital business expansion and opportunities in the future!
Given the state of the world, end-to-end businesses are today focused on Digital Transformation as a necessary element of progress, and this paves the way for interdependence among different intelligent functions and services in the ecosystem. Let’s examine a few industries which will be impacted by AI in the next decade:
The Future of AI In Employment
The future is ripe for AI in the workplace, given that automation of jobs is soon going to be a reality. While AI and related automation technologies will inevitably contribute to a considerable part of the employment sector, there will always remain employees that need conventional motivation in their work, and AI has the power to do this. A great example is through how AI interacts with managed IT services; Cutting edge deployment of AI technology into work processes, most easily accomplished through third party innovation, improves the day-to-day work of staff.
Furthermore, it’s likely to improve productivity by making life more comfortable. For instance, the Harvard Business Review noted that using AI to help boost well-being and contentment levels at work improved productivity by up to 40%.
Talent Analytics sees a surge in adoption among many organizations that are on the road to digital transformation. The need for acquiring new skills, scaling existing talent, and retaining high performing talent in a record time enables enterprises to get closer to being a future-ready organization.
The conundrum of AI replacing workers is just that – while some industries may see a heavy dependency on automation, others will see a rise in jobs that rely on human decision making. These are characteristically those fields that require emotional intelligence rather than the practical – the kind of ideas that someone with a creative or scientific inclination inherently retains cannot be replicated. Palliative care is another industry that cannot rely solely on automated decisions!
People Analytics can be the stepping stone to Empowering Employees. Don’t believe us? See for yourself!
Fine-tuning business planning
ML-based AI technologies have the potential to transform the supply chain significantly and bring business efficiencies with it. Logistics Manager claims that the European retailer HEMA has introduced a sophisticated machine learning algorithm to detail background statistical work in its retail supply chain. The primary benefit of this is exacting an accurate demand forecast that will allow the business to operate at maximum efficiency. This is a beneficial practice as having inventory run at a surplus or deficit creates issues and waste demand of its own.
See how BRIDGEi2i is driving supply chain visibility by empowering industries to identify risks ahead of time with in-depth mitigation tactics here.
Enhancing Customer Experience
The adoption of Artificial Intelligence(AI) among enterprises for customer experience as a function is unrivaled owing to the sheer diversity in the use cases. Enterprises can now use digital personalization efforts to improve targetting and segmentation for dedicated user personas, who are relevant to enterprise offerings. What’s more, the phenomena of using chatbots for customer interaction is becoming widespread by the day, and several businesses have switched over to using automatic and voice-based chatbots at the first level of interface – this reduces the TAT and improves the efficiency of processes especially in the customer support industry.
For a detailed view on how customer experience can enhance enterprises, refer to our whitepaper on The Science of Customer Experience Management.
In conclusion, we’re poised at the cusp of a revolution, and the adoption of artificial intelligence isn’t the end game for enterprises. AI adoption is a journey that has the potential to push organizations and individuals to achieve soaring progress.
Slacking behind will be folly; keeping abreast of industry changes and innovations, however, will bring success. To know more about AI-powered Digital Transformation. Learn more!
Guest Post by Katlyn E.
Digital processes, digital technologies, & digital data are what have enabled enterprises to cope with difficult situations like today & AI is at the heart of this transformation.