In 2021 we will see there are more sophisticated applications of Artificial intelligence and Machine learning across industries and financial services.
Artificial Intelligence has impacted all the business models and capabilities to improve their insights and customer services. Artificial Intelligence shows significance in image reorganization.
In 2010 inaccuracy of image reorganization was over 30%, it has dropped 4% in 2020. In business, Artificial Intelligence is helping to quickly and well-considered decision making, optimization, predictability, risk management, customer services, reducing the floor space, etc. Although unprecedented lockdown Chatbots and automated calls improved the user experience and reduced human customer services.
How Artificial Intelligence will transform business in 2021
Emerging technologies are transforming our everyday life. We have already experienced that unprecedented lockdown has impacted all the business models but didn’t wade any Artificial Intelligence. It has become evident that artificial intelligence will transform all business models. Here are few ways that how does AI will transform business in 2021.
Firstly, AI-powered microprocessor chips will enable applications to run on AI algorithms. Therefore, these chips will help to detect errors, image reorganization, banking systems to generate individual loans, automobiles, etc.
These chips will boost the performance of complex apps in banking, gaming, health care, and IT industries, etc. Qualcomm is at the forefront of developing these chips. Qualcomm recently launched AI-enabled Snapdragon 732G to enhance a high-tier gaming system.
Artificial Intelligence-Voice based search
Secondly, Google assistants and Apple Siri are the best examples of AI voice-based search applications in the current generation. Therefore, AI-powered voice-based applications have set the benchmark in the market. These will make it easier to search for anything through voice.
After all, AI-Powered voice-based search will possibly provide accurate results. According to Statista, Globally, 8 Billion digital voice assistants will be used by 2023.
Artificial Intelligence Chatbots for customer support
Thirdly, Chatbots and automated calls will reduce the cost of customer communication services and will make floor space-free offices. Artificial Intelligence Chatbots will predict accurate results to customers and also will predict what exactly customer is trying to know.
The ability of AI to process natural language allows this technology to be successfully applied in “around-customer” services. In the current digitally driven world, many organizations use AI-Powered Chatbots in business communication and customer support services.
Artificial Intelligence Cyber Security
AI will play a key role in facilitating cybersecurity in companies. The technology will also help to provide the fastest and accurate response to the company and reduce the expanses of companies’ cybersecurity investments.
Evolution of Data Highway
There will be multiple projects depending on the Data highway in 2021. The generation of big data is increasing every day. Present situation data is imperative for every start-up to survive in this competitive world. AI-based systems and solutions will enable start-ups with data mining, analysis of business data, and implementing predictive analysis. It also manages the processing of requests to insurance companies and makes recommendations to improve customer service. AI today helps many companies to increase productivity, monitor operations, and others.
In conclusion, AI is not even the future, it’s our present.