You still think those robots in Hollywood movies are science fiction?
Artificial intelligence is disruptive; effects may not be visible to you yet, but surely you have been consuming AI in some form. Mostly when you are reading news on Google, when you are opening those email marketing campaigns sent by your favorite brands, and also when you are using your Smartphones.
Mobile Technology Powered by Artificial Intelligence
Since the AI has impacted the mobile technology, it has taken lead in the adoption curve, mainly because Smartphone use is rampant throughout the globe and mobile apps have become an essential part of consumers lives.
In fact, the sale of smartphones is also encouraged by the quality and capability of Smartphone to enable consumer use apps. This benefit is extensively reaped out by Mobile App Development Companies that are developing apps for modern, tech-savvy users.
So, if you still think that movies like Metropolis, Blade Runner, and The Terminator are the fancy of scientists and writers, here’s a fact list that you can check out learn how AI is impacting business and our lives.
5 Impressive Facts of Disruptive Artificial Intelligence
The intelligence exhibited by the computer and other machines can help businesses generate necessary information and take action with much more confidence. Here are the 5 facts that depict the capabilities of Artificial Intelligence as a disruptive technology.
Fact #1 – 85% of Customer Interactions Would Not Require Humans, by 2020
Gartner predicts that customers will manage 85% of their relationship with Enterprises without requiring interacting with humans. This means the AI will be advanced enough to manage communication with customers, while also providing convenience with respect to resolving issues.
The technology will push the enterprises to change their customer experience strategies, leveraging customer data and information. AI will enable the enterprises to develop strong business-customer relationships by providing the enterprises access to every touch point in every medium, where ever their customers are.
Fact #2 – 5% of All Economic Transactions Will Have No Human Control
This means, by 2020, your money will be managed by autonomous software agents that are algorithmically-driven. These agents are already a big part of our economy, however, they are not autonomous yet, as there is still a lot of human mechanisms involved.
The advanced autonomous software agents will create a new economic paradigm-programmable economy, as called by Gartner. The economy is capable of disrupting the financial service industry, as it will bring more transparency into the system, relying on the latest technologies like Blockchain.
All the segments of the financial industry, banking, insurance, crowdfunding, market, and exchanges will witness a huge disruption in the coming years.
Fact #3 – 20% of Business Content is Already Authored by Machines
Chinese eCommerce giant, Alibaba, has recently announced that they are training Artificial Intelligence (AI) to write a general description for them. The program has been launched by Alibaba’s digital marketing arm, Alimama, wherein AI copywriter use natural-language processing and deep learning technology to generate millions of item description for them in seconds.
Typically, “20,000 lines of copy a second”.
And it’s not just Alibaba, it’s key rival JD.com is also using the software “AI writing robot” to create item description. The system can generate 1000 pieces of content in a day. Now, you can compare the efficiency level of the AI and its contribution to authoring business content.
Fact #4 – 40% of Mobile Interactions Will Be Facilitated by Smart Agents, By 2020
As for now, there are mobile applications that facilitate interaction between enterprises and customers. Enterprises can also collect data from the apps, provided the Mobile Application Development company has built the app in such a way to collect relevant data.
It will be a post-mobile application era, where virtual personal assistants (VPAs), also called smart agent technologies to monitor the user behavior and content to create a data model from which technology can draw inferences about people and contexts.
So, unlike the data collected from the mobile application and managed by enterprises, it will be managed smart agent technologies and they will ultimately draw a conclusion out of it, predicting the users’ needs and enabling the enterprises to build trust.
Fact#5. Customer Digital Assistant Will Recognize Them By Face and Voice
According to Gartner, “customer digital assistant will recognize individuals by face and voice across channels and partners.” It is this reason, brands have started using AI to build smarter platforms in hope to provide an outstanding online shopping experience to consumers.
Online retailers are seeking partnership with technology companies, mainly a mobile application development company that can enable them to adopt advanced AI technologies and overhaul the customer experience, but for that AI in Retail need to establish a deep personal and adaptive reach to the customers.
Despite the advancements, the real-life application demand AI to enhance the customer experience, and customer digital assistant can help business re-strategize the way they interact with customers on different platforms.
Shaping the Future of Enterprises
A smarter, cognitive, and intuitive digital assistants will enable enterprises and consumers to develop a better understanding of each other requirements. Besides, it will help enterprises to reduce the cost and increase the customer satisfaction. AI in Mobile Application Development is already changing the way data is collected and interpreted, so that enterprises are now getting more of a “good quality data” for generating inferences.
However, with all the benefits come challenges too, and for enterprises, the major challenge lies in the fact that by 2020, “95% of cloud security failures will be the customer’s fault”. And since there is no control over how a customer uses a product, it is the responsibility of the enterprises and technology companies to promote the secure use of public cloud.
Siya Carla is Business Development Manager at Finoit Technologies, a leading custom software development company which turns ideas into reality by providing unique web design and mobile app development services.