Artificial Intelligence (AI) is redefining the face of the business process both online and offline. AI through automated systems are programmed to replicate human functions which are in charge of official communications answering phone calls, emails and social comments to engaging website visitors on chats.
AI is changing the overall face of customer interaction, according to the Business Insider and Gartner, 85% of business communication by 2020 will be handled by AI without any human involvement. Artificial Intelligence is making its mark the way business process is conducted today; the statistics behind AI throw some interesting facts
- According to Gartner , Customer digital assistants will be powered with facial recognition by the end of 2018, recognizing customers by face and voice across channels.
- By the end of the decade, AI is all set to take over 16% of the American jobs says, Forrester,
- According to a report published by Narrative Science , 80% of business leaders believe that AI improves employee performance and creates job opportunities.
If you thought IT organizations are the only digging gold out of AI, think again. AI is impacting every industry, disrupting business or giving them thumbs up on the competition.
AI is Being Put into Action Across Industries
Microsoft, Google and Amazon have been investing heavily to build their AI capabilities. So have been Salesforce, Oracle and IBM. As per the findings of the Artificial Intelligence Market Forecasts report by Tractica, a market intelligence firm, AI adoption across multiple business domains will aid to significant growth in the next decade. The report further states that the potential revenues from AI will increase from $3.2 billion in 2016 to $89.8 billion by 2025.
AI will Drive Personalised Customer Engagement
According to the report by Narrative Science, AI adoption was earlier restricted to only 38% of workplaces those surveyed, but by 2018 this figure will rise to 62%. Organisations are increasingly feeling the need to adopt AI to drive customer engagement and gather data to understand their customer’s wants and predict their needs. AI is now being used to build brand loyalty and brand affinity. Today, customers are comfortable discussing their shopping lists with virtual assistants and chatbots over the e-commerce sites. […]