Artificial intelligence (AI) has the capacity to revolutionize our world. While on one hand it can bring about extreme automation, on the other hand it can spell doom for the job market by taking away our white and blue collared jobs. A study by Forrester reveals that by 2019, AI will impact almost 25% jobs in some way or the other.
With more and more breakthroughs in artificial intelligence (AI), almost every industry is getting disrupted every now and then. AI has become a potent tool to generate business value. The rise of the ultra-sophisticated modern day technology is because of numerous factors such as emergence of smarter and more complex algorithms, quick access to large volume of data owing to considerable rise in mobile usage, sensors, various connected devices, and cloud computing which is cost-effective and easier to set up.
Three Ways in Which AI Can Impact Our World
One of the primary advantage of AI is that it helps to do away with repetitive knowledge tasks that need very limited cognitive effort. In this manner it helps to up cost savings and bring about accuracy by removing human errors. AI also helps augment intelligence of humans by offering contextual knowledge and support, to enable employees and customers carry out tasks effectively and easily. Apart from that, another major contribution of AI is that it helps to obtain insights by scrutinizing structured and unstructured data automatically, almost in a jiffy. All these could prevent attrition of customers by spotting trends in their purchasing behavior.