When it comes to AI, businesses think ambitiously. Nearly 85% of executives believe AI will allow their company to obtain or sustain a competitive advantage in the marketplace. Contrastingly, just one in five companies have incorporated AI into their organization and less than 39% of companies have an AI strategy.
In the past months, most of you may have run into a situation where you open the GPS app on your smartphone and it ‘knows’ where you would like to go because it fits a certain repetitive pattern of behaviour or the photo app organizing your pictures based on who are the most important people in your life. Underlying all these Artificial Intelligent (AI) features is a technology called deep learning that will unleash the next wave of digital transformation in the coming years ranging from self-driving cars to breakthrough medical diagnostics. But before we get to AI, we need to understand the core of digital transformation itself.
This detailed primer will provide you crucial overview of the AI’s increasing prevalence amongst Indian industry, government and peripheral ecosystem and the significant impact AI will have in your organizations to remodel strategic and business models accordingly.
The market for artificial intelligence (AI) technologies is flourishing. Beyond the hype and the heightened media attention, the numerous startups and the internet giants racing to acquire them, there is a significant increase in investment and adoption by enterprises. A Narrative Science survey found last year that 38% of enterprises are already using AI, growing to 62% by 2018. Forrester Research predicted a greater than 300% increase in investment in artificial intelligence in 2017 compared with 2016.
The Singularity is a term people use to infuse terror whenever they’re talking about the future of technology. It’s a scary word, because it talks about the moment – impending or not – when computers will finally be smarter than humans, rendering us irrelevant and unnecessary, and ultimately, transforming the way our world works.
The current boom of exponential technologies of today is causing strong disruption in the talent availability landscape, with traditional, more mechanical roles being wiped out and paving way for huge demand for learning and design thinking based skills and professions. The World Economic Forum said in 2016 that 60% of children entering school today will work in jobs that do not yet exist.
Over the years, the influence of AI has spread to almost every aspect of the travel and the hospitality industry. 30% of hospitality businesses use artificial intelligence to augment at least one of their primary sales processes and most customer personalization is done using AI.