Artificial Intelligence (AI) is one of the most exciting and transformative opportunities of our time. Artificial Intelligence was a thing of science fiction fantasy in the not so distant past, but now it seems to be part of the business vernacular.
2018 was the year of intelligent systems that saw many companies start their digital transformation and put in place strategies focused on business intelligence. So you could say that the most significant shift for 2018 was seeing a bigger slice of the enterprise market begin to understand the possibilities that AI could bring to their businesses and how it will be a necessity moving forward in order to be competitive.
We have only scratched the surface of the role of Big Data and this will continue to grow and develop in the coming years. But this is starting to transform both front end and back end processes within organisations.
So if you are looking at how AI will drive changes for business in 2019 here are our predictions.
1. Enhanced Customer Interactions
New systems that will allow businesses (including small businesses) have meaningful and efficient customer interactions that are automated and will drive sales and marketing activities. We have already seen strong success with Machine Learning (ML) and chatbots across a number of industries and this start to become more powerful and more accessible.
2. Decision Making
AI provides the ability to help leaders make more informed decisions. They can help drive workflow improvements and deliver a more superior customer experience. While we still need a ‘human’ element particularly when we are talking about customers, AI can help remove some of the human errors and emotions in decision making and if done correctly has the potential to work cohesively with managers to deliver a more consistent and efficient approach.
3. Talent Management
We will start to see AI and ML have a stronger presence in the recruitment and HR industry. There has already been some success in using it for candidate screening and ranking candidates. However, where companies are going to need help is in finding candidates that have the right skills and knowledge and are AI experts. AI requires expertise in a range of areas including social and legal, marketing, customer relationships and operations. As AI is so new, finding people who can navigate the complex issues of AI and help drive its development and engagement through a business will be crucial.
This is science fiction come to life! ML is the concept that machines can self learn, and continue to learn based on the outcomes that they have received. Similar to the development of a human brain. While this may be a little scary for some, for enterprises this has far reaching potential and possibilities.
5. Hardware optimized for AI
Currently the tools used to drive AI are very much software based, however, in the not too distant future we will start to see hardware development that is optimized to support AI. This will mean that the software will run smoother and will make it much more user friendly and more accessible.
2019 is set to be an exciting year for AI and there is no limit to how enterprises can grow and develop using these tools. The one thing is for sure, AI is here and it is developing rapidly so you need to get on the journey and understand how it can enhance your business.