Artificial Intelligence Technologies Transforming Businesses Globally
Despite numerous benefits that business organizations can reap from Artificial Intelligence, only 23% of businesses have incorporated these technologies into day to day operations, products, and service offerings to date.
Importance of Artificial Intelligence Technologies
Artificial Technologies are ruling the world, and the market is booming with every innovation or invention. Undoubtedly, it has transformed the way people used to think a decade ago. Companies are investing in integrating artificial intelligence in business and continue to adopt upcoming innovations. The artificial intelligence technologies have contributed to the so-called development and advancement of the physical world.
Certainly, multiple aspects of routine life have changed, and people all around the world are discussing the future of AI. Implementing and putting artificial intelligence to work however doesn’t mean just to make intelligent and smart decisions. Indeed, it’s about adapting the latest innovations to boost business activities and performance.
Artificial Intelligence Technologies in Business
Let’s have a look at some of the popular artificial intelligence technologies that are ruling businesses today. Undoubtedly, these technologies will continue to influence industries in the decades to come.
# Face Recognition
Face recognition is undoubtedly one of the advanced AI technologies being implemented in various industries across the continents. The technology uses a biometric software application that first makes a unique pattern and then identifies facial features by analyzing the patterns based on facial contours.
# Speech Recognition
The speech recognition technology has moved beyond Siri. Probably, with advancements in technology, more and more systems are incorporating speech recognition. It works through transcription of human language in useful and scalable formats that are compatible with machines. The speech recognition is consistent on all devices running over Android, Mac, Windows, and other operating systems.
# Virtual Agents
A virtual agent is a computer agent or a coded program with the capability to interact with humans. Virtual agent technology is certainly a perfect example of artificial intelligence in business. Businesses in the field of retail, marketing, and customer care execute this technology to improve customer engagement and conversion ratio. Some of the examples are Amazon, Google, Apple, IBM, Microsoft, Creative Virtual, among others.
# Decision Management
In the technologically advanced era, machines have become capable of introducing and executing logical algorithms. Companies across the globe use logical rules in initial setting up, implementation, maintenance, and tuning of the business processes. Artificial Intelligence has emerged as a noteworthy innovation in decision making. Moreover, numerous auto industry applications are successfully incorporating this technology into their business operations.
Biometrics is the statistics that deals with identification, analysis, and measurement of body structure, form as well as human behavior. The technology enables natural interaction between machine and human. It involves interaction related to image, touch, speech as well as recognition of body language.
#Robotic Process Automation
Robotic process automation is a result of scripts and procedures that automates and mimic human operations for supporting business processes. Companies usually utilize robotic automation artificial intelligence technology in exceptional situations where the project team finds it difficult to hire a human for a particular task.
Businesses use text analytics artificial intelligence technology for correctly structuring the sentence. The technology works over managing the intention and meaning of the sentence through auto-learning and statistical methods. The technology assures that no unstructured data or incorrect sentence exists, and the entire text is well organized.
How Artificial Intelligence Technologies Impact Business and Humans?
If your business has not implemented appropriate artificial intelligence technology, it’s time to do that before your competitors do!
An unending list of artificial intelligence technologies exists, and all these innovations are successfully integrated into business organizations globally. No doubt, these technologies are taking the world to the next level. Most of these technologies are taking the business growth to incredible extents. However, with numerous innovations queued up and integration of advanced technologies, business projects are also turning more and more complex. This is probably a challenge for humans.
A fact worth understanding is that artificial intelligence in business management is not meant to replace humans. In fact, businesses must adopt these technologies only to complement capabilities, strengthen talent, and reinforce the skills that humans possess.