How Purposeful Artificial Intelligence will Change the Way Industries Work
- Jun 04, 2018
Sometimes, when I sit in my friend circle on a nice, peaceful eve and enjoy a string of random chit-chats flowing by, one topic recurrently jumps in and become the most dominant point of discussion - the future of AI (artificial intelligence). Being self-made entrepreneurs, my friends and I always stay excited to know how a certain, emerging technology is benefiting the world and how our businesses can take advantage of it in terms of productivity and innovation.
AI, being the most controversial of all the latest technologies (thanks to Hollywood fictions where intelligent machines always take over the human race) is still the heavily invested by tech-colossus such as Google, Amazon, and even the most profitable company in the world - Apple. Google alone has spent over $3.9 billion on AI.
If it was all for agitation and terror, we would never have seen innovations like Siri and Alexa. So far, AI has made it better and if we keep armoring it with a purpose, the whole world would be a much better place than it currently is with curtailed crime rates, pollution, and natural resource exploitation.
Years ago, when I get underway a web development company, the core technologies we worked on were Swift (iPhone), Java (Android), and PHP (web applications). However, the scenario of our today’s offerings has surprisingly shifted towards fresh and more engaging technologies that combine, AR/VR, Chatbots, Salesforce, Digital Marketing, and yes Artificial Intelligence.
This outright transformation in services advocates the fact that today’s clients no longer want to develop a solution in just any random technology. Instead, they seek to invest in something that automatically understands their end users. They seek an innovative and intelligent piece of software that can beautifully interact with their users and keeps them engaged in a highly-personalized way with the help of gathered data. In addition, industries want to keep their cost at the bottom of the pond.
For instance, an AI-powered chatbot (or even a rule-based one) can reduce your employment costs by as much as 90%.
Backed by GupShup’s partnership we created intelligent Artificially Intelligent chatbots for two renowned names in India - ICICI bank and Titan. Once installed, both the chatbots excelled in several ways be its customer engagement, cost savings, and closing customer’s queries. And why not, if programmed well, one efficient chatbot can do what a hundred customer care executive would without getting tired or being paid.
According to a recent study, 76% of total research participants said that they liked the experience of having a conversation with a chatbot and they wish to do the same in the future. Big data, machine learning, cognitive computing, speech/image recognition, and natural language processing, are there to back AI operations.
Chatbots are just one segment where AI is completely taking over. In the terrain of mobile app development, AI can boost the engagement by analyzing the user’s interaction with the app and personalizing the time and way to show promotional offers. By looking at the rate AI is slowly crawling in our lives, I clearly see a future where even the smallest of tasks are planned and operated by intelligent machines and software. If you ask when is the right time to adapt AI to your business, I would say it’s now.
Connect with me to know how AI can help your business right away.