Artificial Intelligence is an area that keeps growing as time passes by. From 10 years ago to today, the capabilities and uses of AI have increased exponentially. Today, AI can drive cars, predict traffic and weather, help customers chose suitable clothes and furniture, and even make art. AI’s impact is not reserved for one sector, but the whole world economy. This said, one of the biggest impacts AI will have soon, is in how we carry out business.
When speaking of business, we think of businessmen in suits, seated in a conference room, discussing investment, profit, etc. However, as most businessmen know, business is much more than that. From buying products to marketing them, from price decision to production costs, business is a craft that is carried out by most people, even if we do not realize it. When we talk about business, we must include every type of commercial venture, from a small-town general store to a global conglomerate.
This said, AI has the power to impact all these seemingly unrelated businesses in an important manner, and this will occur as near as 2022. Every day new applications for AI are discovered, with different implications to the business sector. AIoT, Conversational AI, Machine Learning (ML), hyper-automation, and AI on the Cloud are just some examples that are already starting to impact the business world.
By 2022, most (if not all) online stores will offer virtual assistants, that will help (persuade) the consumer decide what products they should buy. Thanks to ML, producers will be able to predict the next trends in almost all sectors. Supply-chains will be able to work autonomously, with predictive and automated warehouses. These are just some examples of how AI will impact business in the coming years.
As a result, business must adapt and embrace AI for them to not be let behind. The best business strategy for the coming future – as it has always been – is to be first, implement AI solutions, when needed, as soon as possible and beat the competition to it.
Today, you can find a wide array of AI technology offerings, each designed to meet a specific need. The key is to select the product that suits you and your specific needs. The path to future business success is connected to AI implementation, but selecting the correct solution is key to this success.