Considering the impact of AI on business operations, identifying the right trends to follow and implementing them is even more important.
FREMONT, CA: Artificial Intelligence (AI) has the peculiar ability to amaze. The possibilities of AI are infinite and beyond the scope of imagination. AI would be the bedrock of the age of connected mobility, automation, and Industry 4.0, fuelling everything from analytics to decision-making to robotics. The global AI market is expected to touch $ 118.6 billion by 2025, and the innovation in the arena of AI is gaining momentum. Here are some artificial intelligence trends to look out for in 2020.
• Enhanced Customization
For staying ahead of competitors and preparing for the hyper-transforming realm of business, enterprises are relying on AI to gain insights in real-time, know about customer preferences, and deliver services accordingly. Real-time data and pervasive location intelligence has mainstreamed customized services in almost every business verticals. With rising customer expectations, companies need to provide more personalized services to retain customers and remain relevant. This is where AI steps in. The increasing use of AI, coupled with advances in location intelligence, will augment the capacity for offering customized services.
• Boosted Cybersecurity
Mounting challenges about data privacy and security breach have to lead to questions being raised about the security preparedness in the age of AI. It is a fact that expert AI-bolstered cybersecurity mechanisms are safeguarding firms from malicious attacks. Without using AI, legacy systems will not be able to detect and monitor malware that is created at an unprecedented pace. Cybersecurity firms have started using AI for pattern recognition to identify viruses and malware. AI systems can spot even the smallest aberration even before the malware intrudes into the system.
• AI-Powered Chatbots
Businesses today use chatbots to market products and make payments. They are efficient in delivering extraordinary customer service. Chatbots use data from vast databases. But, they might not comprehend particular phrases. These systems will match human conversations too. For instance, AI-driven chatbots can recall parts of a conversation with a client and make a customized conversation using them.