Artificial Intelligence (AI) has worked in our everyday lives, due to which today businesses and organizations have better marketing opportunities and run their industries smoothly. Every year we see innovation and advancement in artificial intelligence and automation that helps the organization in various domains.
2022 will also follow its predecessor and will see new development and innovation in the field of artificial intelligence and automation. The future of AI looks bright. As per the statistics, the expected growth of AI every year until 2025 would be 120% – 140% per year. Almost 77% of the world population uses AI applications, devices and services but only 33% of them are aware of it. Today AI is being used in smartphones, self-driving cars, drones, banking, healthcare, security, gaming, media streaming, music and many more.
Here are some predictions made by young entrepreneurs, which tell us about how artificial intelligence and automation will play important role in businesses and industries.
- Automated Customer Service: One of the biggest changes AI can bring is automation in customer service. In recent advancements, we have seen how chatbots help customers to solve their queries more quickly. AI can help to automate these processes by routing the customer queries to a specific department, keeping track of customer history by using NLP and sentiment analysis. Still, there would be a need for human agents but they may require learning how to work with AI and automation to serve customers a more customized experience.Check out this NLP tutorial and understand how customer track the history.
- Green Future of AI: Some companies are using AI for improving their sustainability goal and green initiatives. For example, Alaska Airlines are using AI technology to guide flights to decrease their company’s carbon footprints. Some other companies will also implement these technologies in upcoming years. Thus, with the help of green AI, sustainability goals will be reached and it will decrease the carbon footprints. When we talk about energy saving then AI can help to design the intelligent grid system to manage the demand and supply of renewable sources of energy.
- Realistic Environment in AR/VR Gaming: Artificial Intelligence will play an important role in the “metaverse”, which will include gaming, AR and VR application, business, etc. Meta (Facebook) is of the leaders in this field. This virtual universe will have land, gaming, business, and all other features that require AI and automation. In upcoming years, human beings and AI applications will work together to create more online virtual environments.
- Augmented Intelligence: Artificial Intelligence will be playing an important role in business by the augmented workforce. According to the entrepreneur, AI won’t affect the human workforce but it will add efficiency. Human and AI-based machine will work together and plays a more significant role in innovation in the workforce. The main three sectors where AI and human will play a significant role is Cybersecurity, Cloud Computing and Human Resources.
- More Focused Advertisements: With the help of AI companies can be more focused on specific marketing campaigns. Digital marketing and advertisement will become more specific and we can see such changes in e-commerce sectors. The major concern will be related to privacy that is data is being used and collected as per the laws and does not breach the privacy of a person. These advertisements will help companies to promote their product and services to their audience in a more customized format and generate growth for their business.
- Improved Google Algorithms: In upcoming years when Machine Learning and AI advancements will come into play there would be more automation in customer support. The client will get more customized support from the companies. We can see AI helping to design more impactful algorithms like the one Google is using right now. The companies and businesses may need to adopt this change else they may fall behind the trends and technologies. These things will not only help customers but the organization can also grow their productivity by using advanced AI and automation.
- Personalized Consumer Experience: The AI will bring change in the customer experience as well, as we can see how social media algorithms works, they provide the specific search what the customer wish to see. This change will transform the e-commerce sector. The customer will get more specific results than what they are getting now. Artificial Intelligence is not only helping in promoting products to a particular set of audiences but also helping to seize the curiosity of purchasers. These all information is gathered from previous buy and search history and also from social media platforms.
- Stock Administration with Image Recognition: Artificial Intelligence will bring numerous opportunities in automation for companies, so it won’t be easy to pick only one way how AI will be beneficial to the organizations. One of the ways how AI can help organizations in 2022 is by managing the inventory. The AI can help in inventory management with Image recognition techniques. With the help of cross-referencing product databases with merchandise scanned and analyzed using AI, 3PL and omnichannel fulfilment companies can drastically minimize or reduce the restocking inefficiencies, also it will help to ensure merchandise are correctly placed within planograms in-store.
- Identified Buyers Leads: Due to the current shortage in inflation and labour, automation will play an important role in 2022. The technology will help to identify the business leads and the enterprise worth of potential clients. AI and automation will also help to assist and analyze data, repair equipment, etc. Overall, the company will reduce their cost in performing the mundane and fundamental duties and maximize the talent of human capital.
AI and automation seem to have a bright future. One can use these technologies effectively to grow their business and bring new opportunities for their customers. Due to Covid, customers are accelerating into digital transformation and AI startups are helping companies to deliver more precise, efficient and accurate results. The three big giants that mostly cover the fields of machine learning and artificial intelligence are IBM, Amazon and Google. 2022 will bring a big change in Artificial Intelligence and automation. Many companies believe that AI will help their business in 6 ways :
- Reduction in Cost by performing repetitive tasks
- Reducing the time required for the execution
- Enhance decision-making process, that reduces complexity
- Improve user experience with technology
- Contributing in innovating new models
- Building security against threats