There is a lot of chatter around Artificial Intelligence nowadays. From autonomous vehicles to virtual assistants, AI technology is growing steadily and is becoming a norm across multiple industries and business organizations. In this post, we’ll be talking about the benefits of artificial intelligence in business technology and its impact on different industries.
One main reason why there is so much hype around Artificial Intelligence in the global marketplace is that the demand for personalization is sky-high. For many years now, marketers have talked about the need to personalize communications to customers. AI fills that gap by extracting valuable insights from customers and providing relevant results at a much faster speed.
Furthermore, like any other technology, AI streamlines administrative tasks allowing humans to focus on more exciting and creative things in other essential areas. As a business owner, you can easily employ AI to do all the primary tasks, thus reducing the number of employees and the amount of work to be finished. This is one of the greatest advantages of artificial intelligence through which some of the world’s most prominent businesses are excelling in innovation.
The ongoing pandemic situation has undoubtedly compelled businesses to alter their models and has also magnified the impact of AI. It is becoming evident that self-teaching algorithms and smart machines will be playing a big part in transforming businesses in 2021.
But wait! Before you plan to implement this technology into your business, let us help you ponder over the idea again. Here are some significant statistics around AI that will help you review your decision.
Benefits of Artificial Intelligence in Business:
Now that you understand the overall potential of bringing your AI application idea into the digital realm, it’s time to unveil the top trends to watch out for in 2021. Artificial Intelligence has been showing promising trends over the years. For example, 2020 witnessed many unique platforms and research tools that utilize AI to great extent. It’s going to be even bigger in 2021 with trends that are going to hit great innovation in the future. Have a look at some of these AI trends of 2021:
AI for Cybersecurity and Data Breaches:
It is believed that in the coming years, digital data will face more risks to be hacked or attacked. AI, with its enhanced enterprise cybersecurity measures, will help in protecting data information from being hacked. With AI, detecting dangerous activities is only a matter of seconds which will allow security dealers to respond to these activities faster than usual.
The Intersection of AI and the Internet of Things (AIoT):
The use of artificial intelligence in business is closely knitted with IoT. For example, AI and ML are already being employed to make IoT devices and services smarter and more secure. Given that technologies like AI and ML require a large amount of data to operate successfully, they can work together with IoT to boost efficiency to the next level.
Keeping the current COVID-19 situation in mind, it is believed that facial recognition technology will grow exponentially in 2021. It is already getting popularized in the digital healthcare industry where it helps in processing biometric data to identify individuals. Even the facial recognition feature embedded in iPhones assists the users to pay bills and perform other essential tasks on their phones. Facial recognition technology is only said to grow and to be increasingly used in the healthcare, retail, and aviation industries.
AI in Healthcare:
AI developing companies are constantly working towards creating advanced tools to enhance the healthcare industry during this pandemic situation. AI has already been helping the healthcare industry in many unique ways whether it is through virtual nursing or detecting diseases at an early stage. This technology can also help in providing data to identify COVID patients and significant hotspots. Additionally, it can also provide insights into human health by measuring the individual’s temperature and suggest preventive measures.
Processing and collecting all the data that move around our devices (smartphones, smartwatches, etc.) in one place is a difficult procedure. Also, since processing requires all information to be shared with cloud computing devices, having no internet connection makes it even more difficult. Edge computing offers servers and data storage for gadgets to access their devices and allow them to put data in them. It’s known as real-time data processing and is more effective than cloud computing services.
These were the various benefits of artificial intelligence in business. In the end, we’ll like to conclude by saying that implementing AI can help you transform your workflows but also prepare your business for the future. So, are you ready to plan your AI application today?
Latest posts by Spark Eighteen (see all)
- 10 Best podcasts every Tech Entrepreneurs must tune into! - December 29, 2020
- How to turn your app idea into reality? - December 17, 2020
- Design for the users: 8 Key elements of a great mobile app UX design - December 15, 2020