As we are fast moving to an Artificial Intelligence (AI) powered world with each passing day, the concept of a future that is fully driven by AI-powered technologies is garnering mixed emotions from across the world. Microsoft chairman and co-founder Bill Gates and Facebook co-founder Mark Zuckerberg referred artificial intelligence as a “holy grail or boon” in the world of computer science that would make lives better in future. Whereas fellow Silicon Valley tycoon Elon Musk, Tesla CEO, had a far more doomsday viewpoint and hinted that advancements in AI technologies could trigger the sleeping demon.
Irrespective of what we feel or perceive about AI, it is all set to revolutionize and is already influencing our day-today lives and business is no exception. In fact, more than our personal lives, AI is walking into the business world.
Here’s a cool infographic throwing light on how AI is coming to businesses for good:
- AI bots to power 85% of customer interactions by 2020, says Gartner
Time to bid farewell to BPOs and call centres, as Gartner suggests that AI bots would power 85% of customer interactions by 2020. Given the fact that popular social messaging platforms such as Facebook and others are already witnessing a steep rise in the adoption of chatbots, this shouldn’t come as a surprise to us. As the use of AI powered bots would curb the wait times for various customer interactions, it appears to be a total win-win situation for both customers as well as businesses.
- By 2018, digital assistants will recognize customers by voice and face
Yes, according to Gartner, AI powered digital assistants will know you by voice and face across partners and channels. These digital assistants would mimic human conversations over time. Simply put, digital customer assistants would interact with us like we do with a friend.
- AI market will grow to $153 billion by 2020, says Bank of America
This would entail $70 billion for AI-powered solutions and $83 billion for robotics/robots. The staggering growth figures hint a future of automation and cost-savings.
- AI will churn out 20% of content for businesses by 2018
AI-powered solutions will churn out around 20% of the total business content by 2018, says Gartner. Marketing content and collaterals that would be mostly automated include white papers, articles, press releases, market reports, legal documents, etc.
How Artificial Intelligence is shaking up the Enterprise Technology Landscape?
- AI to drive worldwide revenue to $47 billion by 2020, says IDC
Yes, increasing and widespread adoption of AI and cognitive computing solutions across a wide range of industry verticals will drive the worldwide revenue to $47 billion by the end of 2020, says IDC.
- AI powered marketing global revenue to touch $1.1 trillion by 2021, says Salesforce
Marketing leaders are of the notion that AI is one of the prominent technologies where marketers foresee most of the growth in the next few years. Yes, Salesforce predicts that AI powered CRM and marketing activities will help worldwide revenue touch $1.1 trillion by 2021.
- 75% of developers to include AI functionalities by 2018, says IDC
According to IDC, around 75% of developers across the globe will include AI functionalities in applications and/or computing programs.
- AI will create 13.6 million jobs over the next decade, says Forrester
The rise of artificially intelligent technologies and advancements is expected to create a whopping 13.6 million jobs over the next decade, says Forrester.
- 32% of business executives prefer voice-based AI technology
Around 32% of business executives use voice recognition AI-powered solutions followed by machine learning technology and virtual assistants.
- Tech giants spent $30 billion on AI in 2016, says McKinsey
AI’s growing popularity has caught up with tech giants like Amazon, Microsoft, Salesforce and Google, as these firms are building and/or acquiring AI technologies and systems at breakneck speed.
Artificial Intelligence is here to stay and businesses will need to embrace it to stay ahead of the curve!
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Disclaimer: All the information, views and opinions expressed in this write-up are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.
Sources: Gartner, IDC, Forrester, McKinsey, Salesforce, The Drum, Huffington Post, CMO and Social Media Week.
