The adoption of intelligent, data-driven technology in enterprise applications is accelerating at an unprecedented rate in the digital age, challenging established workplace practices and fundamentally altering the business landscape.
Artificial Intelligence (AI) and its subset, Machine Learning, are at the forefront of all disruptive technologies (ML). Business experts concur that artificial intelligence and machine learning are the two main forces behind the ‘Industry 4.0’ transformation.
AI-enabled devices are everywhere. Nearly 77% of devices today use AI technology in one form or another. Virtual assistants, chat-bots, face recognition technology, voice search, and self-driving cars are just a few examples of services and solutions that use AI. These technologies are no longer the stuff of science fiction. They presently exist and have an impact on all facets of contemporary life.
Things which will matter this year and onward
- Big Companies Will Most Likely Implement an AI Strategy
Stats show that 75% of top CEOs think that AI will help their company expand and gain a competitive edge.
- The majority of consumers believe AI will enhance their lives
In a poll conducted by Strategy Analytics, respondents from India, China, Western Europe, and the United States made up 41% of those who believed that new AI technology would improve their lives.
- Most people do not realize that they use AI platforms
According to a survey, only 34% of consumers are aware that they are directly interacting with AI, which is one of the odd truths about artificial intelligence. But when asked about the technology they use, 84% admitted to using at least one AI-powered product or service.
- The voice-search function is becoming popular
The AI-powered voice-search functionality on smartphones, smart speakers, and other voice-enabled devices is becoming more and more commonplace as a result of breakthroughs in speech recognition technology. According to recent statistics, 41% of smart device users use the voice-search function at least once every day.
- The future of AI automation is asset maintenance
The most common AI use cases in the manufacturing industry, include predicting when machines are likely to break down and suggesting the optimum time to undertake maintenance. According to the survey, roughly 29% of AI applications in the manufacturing sector are used to maintain operational production assets.
- AI adoption helps businesses increase earnings
AI continues the trend of technology generating returns. In a latest finding there has been a nearly 25% year-over-year growth in the use of AI in routine company operations, with a significant increase from the previous year in the number of businesses employing AI in numerous functional areas.
- Chat-bot use is growing already
In a poll conducted of consumers around the world, 38% of respondents indicated that they had a favorable opinion of chat-bots. Only 11 percent of end customers had negative opinions, leaving 51 percent of them neutral.
Research demonstrates that businesses now employ AI more frequently than not, suggesting that the technology has advanced to another level in the commercial world. Along with it, the need to expand AI among those just beginning their adoption journeys has increased. However, it also points to a way for lagging organizations to catch up, even while they show that other companies are further forward in comprehending the impact of AI.
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