Algorithms will not only drive scores of business processes, but also build other algorithms, much as robots can build other robots. And rather than using apps, future users’ lives will revolve around cloud-based agents enabled by algorithms. Gartner expects that by 2020, smart agents will facilitate 40% of all digital interactions.
In recent years, there has been a lot of hype around “big” data in the marketing world. Big data is extremely helpful with gathering quantitative information about new trends, behaviors and preferences, so it’s no wonder companies invest a lot of time and money sifting through and analyzing massive sets of data. However, what big data fails to do is explain why we do what we do.
While some predict mass unemployment or all-out war between humans and artificial intelligence, others foresee a less bleak future. A future looks promising, in which humans and intelligent systems are inseparable, bound together in a continual exchange of information and goals, a “symbiotic autonomy.” If you may. It will be hard to distinguish human agency from automated assistance — but neither people nor software will be much use without the other.
As driverless cars become a mainstream reality, AI is aiding it greatly to remove all barriers to autonomous function and humanization of its operation. The biggest challenge self-driving cars will have to overcome on the road is being able to react to the randomness of traffic flow, other drivers, and the fact that no two driving situations are ever the same. AI is what comes to play in this sphere.
More investors are setting their sights on the financial technology (Fintech) arena. According to consulting firm Accenture, investment in Fintech firms rose by 10 percent worldwide to the tune of $23.2 billion in 2016.
As e-commerce (and retail in general) becomes increasingly global and competitive, business leaders understand that AI can be a valuable tool in reconnecting with consumers. AI has the power to analyze huge amounts of data from numerous sources, including human behaviors and emotions. This can then be used to create more meaningful customer experiences.
The Banking and Finance sector (BFSI) is witnessing one of its most interesting and enriching phases. Apart from the evident shift from traditional methods of banking and payments, technology has started playing a vital role in defining this change.