How Artificial Intelligence Will Transform Businesses in 2021
“Hi Alexa, Tell me about Artificial Intelligence and its impact on businesses in 2021.”
Artificial Intelligence (AI) engages in human-like learning, planning, and problem-solving. It is a technological reality and you probably interact with it on a daily basis because it has become an integral part of human lives. It is now a household name and even a household presence with Alexa and Siri making every task convenient for you. The concept behind AI is to teach computers via human behaviors, in this way, robots function with the help of programming and algorithm.
This growing use and acceptance of AI has been driven, in part, by the disruption caused by the Covid-19 pandemic. Organizations are all set to adapt AI to expand their potential capabilities. We can say that it will affect the way companies will interact with their users and have technologies that will no longer require any human presence and this will be a big shift towards becoming technologically independent.
Where there are end numbers of data available, it becomes quite difficult to manage businesses on traditional and conventional methods to achieve more growth and to meet the customers' ever-changing and evolving preferences. This is where AI steps in to make it easier to understand, engage and generate more revenues for the company.
AI has virtually taken over every business process in the industry, making user interaction and experience more productive. It will make businesses leap towards efficiency, security, optimization, and confidence. Many businesses have already started leveraging the potential of AI. Companies like Microsoft, Amazon, Apple, and Google have grown immensely due to the incorporation of AI for forecasting, adapting to changing market conditions, and generating profit out of it. Several companies now are reaping the benefits of their early investment in artificial intelligence. On the other hand, many companies have started incorporating AI to utilize the huge amount of data generated each day.
According to an article on Forbes, Amit Sawhney, Vice President of Service Operations at Dell Technologies said that – “The use of AI and data analytics will become increasingly important in IT as organizations aim to deliver seamless support and predictive capabilities.”
Transformation of businesses in 2021 –
1. AI-powered chips – AI-powered chips will help applications run on AI algorithms which will lift the performance of complex apps and make them user-friendly. This will further boost the experience of these applications and will attract more and more users.
2. Cybersecurity - Security is one of the biggest concerns for any business. AI will help build massive security for the company and its users, reducing the cyber attacks and losing data. This will also help in reducing the response time of the companies.
3. Voice search - Amazon, Apple, Google, and other big companies have already paved their way towards voice search and recognition. This is the future and it has already received a huge amount of support from the people. Now, smaller organizations will also adapt this for better performance of their services.
4. Chatbots - Customer engagement is crucial for any organization to build trust between the two. Chatbots will help companies to interact with their current and potential users making it very efficient and convenient to reach out.
5. Data - AI-based systems will help small businesses and start-ups in data mining, analysis of data, and analytics implementation. There will be exponential growth concerning data generation and management.
Moreover, AI will make it easier for all age groups to interact with the business. Thus, 2021 looks like a bright year for the transformation in the business sector with the use of Artificial Intelligence. This will pave a way for the technology-enabled outlook, and you may only see computers in the workforce!
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