Is AI a sustainable option for your business?

We have seen an absolute explosion of AI opportunities in the past decade and the year is accelerating with that. Artificial intelligence is surging across the business world and is boosting businesses every day. Instead of performing each process manually, businesses are discovering the value of automating existing systems.

As a result, they gain higher efficiencies, fewer mistakes, and, ultimately, more revenues. Surprisingly, most of us operate and interact with AI in some capacity but are unaware of it. To preserve a competitive advantage, it is already disrupting every industry's ecology.

According to the reports, Artificial Intelligence will be sounder than human beings in deciphering languages by 2024, stimulating items by 2031, and executing surgical operations by 2053. Businesses are using AI to enrich the productivity of their employees. Therefore, AI is a viable opportunity for businesses for future growth prospects. All the tech companies are moving incredibly fast to improve artificial intelligence software.

As a result, businesses and people are excited and looking to understand how artificial intelligence transforms the business sector. The software will solve that, where it'll look at all the new information and put forwardthe information basis your interests that would be most valuable.

What is AI?

Artificial Intelligence is an extensive term that navigates you to any computer software that stimulates humanlike activities - including learning, planning and problem-solving. AI is both a futuristic fantasy and a pervasive aspect of modern life. It is always a good decision for an organization to understand the need for AI for their business. The main supporting attributes of AI are:

• Artificial intelligence has many uses in businesses, including facilitating job processes and aggregating business data

• It helps make better use of the data and understand the trends worldwide. AI can automate insights from your data way better and faster than a human brain.

• Allows you to provide more intelligent & personalized services. For example, companies like Amazon automatically use the insights and the data they're collecting to recommend the best products. Similarly, Netflix captures the data & is becoming more intelligent; they do not only recommend a particular film because you've watched it. Now they're fine-tuning the content according to your tastes & preferences with the help of Artificial Intelligence.

• Today, artificial intelligence is a household phrase - and sometimes even a household reality (hi, Alexa!).

• Most popular AI is used in sales, marketing, customer support, accounting, human resources, contact centers, operations etc.

• Researchers are probing what artificial intelligence means for the future of business, specifically regarding blue-collar jobs.

Modern cloud computing infrastructure already can automate some analysis, which will help businesses identify potential consumers. Now we have AI built into our smartphones, cars, TVs, watches & so on. And it is not wrong to assume that soon we will have AI in almost all the products one can imagine.

The most common uses of AI are machine learning algorithms, detecting a cyber-attack; hence it is a vital tool for cyber security. Customer relationship management helps in remaining current & accurate, internet & data searches and digital personal assistants or AI bots. AI bots can be utilized as personal assistants to assist your emails, maintain your calendar and even provide suggestions for simplifying operations.

Artificial Intelligence is unquestionably the future and helps in driving the economy of tomorrow. It is seeping into the lives in ways that are being overlooked. And, if appropriately mobilised, it can generate an immense fortune for people. The opportunity for people to cure diseases that we haven't seen before can make us safer because it eliminates inherent human error in much work. AI is starting to create what was once believed impossible, possible, like driverless automobiles. Internet of Things & artificial intelligence has the potential to remake the economy dramatically, but their exact impact remains to be seen.

(The author is the Co-founder and Chief Revenue Officer, CloudConnect Communications Pvt. Ltd.)