AI is the technology of the future and we are on the cusp of colossal changes. It is getting implemented in our daily lives and experts have warned against its potential misuse. It is now affecting aspects of our lives that many of us never anticipated: healthcare, education, employment and even national security. While the future of AI might sound daunting, I don’t believe it’s currently a crisis. It’s a revolution. Now the question comes – can an algorithm know more about you, your choices and intentions than you do yourself? With the help if AI, a corporate can manipulate our choices insidiously and sell us anything – product or politician — without our even being aware of it!
There are chances, an intelligence revolution to come into your business. Business is expected to get smarter. In fact, every business is going to have to get smarter – from small startups to global corporations, from digital-native companies to more traditional businesses. Organizations of all shapes and sizes will be impacted by the Intelligence Revolution. Companies across all industries are in most parts experiencing a never-ending demand for convenience from customers. This has certainly been characterized by the increase in the adoption of chatbots in some sectors. It is clear that consumers are unopposed to the idea, with 40% of them not being concerned about whether a robot or a human assists them as long as the experience is positive and their problems are solved. Companies need to integrate upskilling/reskilling programs into their digital transformation strategies to truly realize the value that comes when human and digital workforces come together.
Secondly, be it your shopping, music, food, reading or movie choices, by collecting all the right biometric data, companies can hit you with the right emotional message at the right time.
AI gives intelligent machines (be they computers, robots, drones, or whatever) the ability to “think” and act in a way that previously only humans could. This means they can interpret the world around them, digest and learn from information, make decisions based on what they’ve learned, and then take appropriate action – often without human intervention. It’s this ability to learn from and act upon data that is so critical to the Intelligence Revolution, especially when you consider the sheer volume of data that surrounds us today. AI needs data, and lots of it, in order to learn and make smart decisions. This gives us a clue as to why the Intelligence Revolution is happening now. This is the impact of the Intelligence Revolution. All industries are evolving rapidly. Innovation and change is the new norm. Those who can’t harness AI and data to improve their business – whatever the business – will struggle to compete.
AI technology has exceptional potential and is expected to create promising opportunities across all industries in the next decade. Its projected growth means that organizations will need to continue tinkering with their digital transformation strategies in order to accommodate the effective use of AI. More than anything, AI and machine learning will soon determine the fate of many companies as the markets become increasingly more saturated. AI promises benefits, but also poses urgent challenges that cut across firms, developers, government, and workers. AI has been here before. AI is finally starting to deliver real-life business benefits. The ingredients for a breakthrough are in place. Computer power is growing significantly, algorithms are becoming more sophisticated, and, perhaps most important of all, the world is generating vast quantities of the fuel that powers AI—data. Billions of gigabytes of it every day.