We have recently witnessed technology transition from research labs into a more commercial setting. With the onslaught of COVID-19, businesses in every industry have faced extraordinary circumstances. Aiming for better ways for optimizing future disruptions and preparing for the rebound, senior executives look at data scientists and analysts for answers. Business leaders and investors universally agree that AI and Machine Learning (ML) will transform their businesses by reducing costs, managing risks, tranching up the workload, accelerating growth, and fueling innovation. Hence, it would be sufficient to say AI is the future of the corporate world.
Artificial intelligence is undoubtedly under the spotlight in the business world. Despite being in its preliminary stages of development, AI is on its way to making an everlasting impression on the market. With the ability to accomplish extensive tasks in a fraction of time, analyze and forecast data, AI can be the future silver bullet. Tech giants such as Microsoft, Google, and Facebook are already reaping these perks with early investments. While also promoting its adaptation in marketing strategies to increase revenue. Advanced analytics and deep learning seem to be the flavor of the month.
The marriage of evolutionary AI and the corporate world promises a plethora of assets to companies. The most substantial being the significant decrease in human error. According to the latest AI and ML development stats, the global revenue from AI-based applications in the industries can reach $31.2 billion, where 87% of current AI adopters are already utilizing it for sales forecasting and improving their digital marketing strategies.
By deploying enhanced AI systems with robust analytic capabilities, different organizations gain:
Organizations can accelerate decision making, improve business processes, enhance user engagement, reduce costs and drive remarkable growth and profitability. Some industry-based applications are:
The field of Machine Learning and Artificial Intelligence is changing rapidly. It's difficult to analyze how the technology will develop, but most experts see those "commonsense" tasks becoming more effortless for computers to process. That means robots will become a common occurrence and extremely useful in day-to-day life. Despite the clear incentives of AI, some sectors are falling short. To stay relevant and ahead in the game, organizations should aim the following:
Realizing the potential to grow revenues, profits, and firm value, businesses are practicing more AI-focused initiatives. On average, investment in advanced analytics will exceed 11% of overall marketing budgets by 2022. Spending on AI software will top $125B by 2025 as organizations weave AI and Machine Learning tools into their business processes. In parallel, investors have poured more than $5 Billion into over 1,400 AI-fueled sales and technology companies to meet this demand.
Globally, Chief marketing officers feel like the pace at which AI can be made successful has been overstated, and the challenges have been understated, according to the Forbes survey. That is understandable based on the current level of acumen in the business community about AI and advanced analytics. However, this is an education and skill problem.
Testing the waters, The Wharton School of the University of Pennsylvania announced the establishment of Wharton AI for Business (Artificial Intelligence for Business). A cornerstone of the launch is a 4-week Artificial Intelligence for Business online certification program for business leaders and professionals. The goal is to inspire cutting-edge teaching and research in artificial intelligence while joining global business leaders to set a course for a better understanding of this nascent discipline.
Atidan specializes in creating customized strategies for AI adoption. Atidan has a ton of experience in going hand-in-hand with organizations to develop customized products that utilize computer vision models. With access to the largest talent pool in the world with a proven track record of customer satisfaction, Atidan can help you develop a rock-solid approach to ensure seamless integration. With access to Atidan’s highly experienced recruiters, you can even hire deep learning(Computer Vision) engineers for your business. With decades of experience helping companies with their technological needs, Atidan delivers more value than you could imagine. With global offices in the USA, UK, India, SEA and success stories across various industries, our goal is to help you realize the full potential of today's cutting-edge technologies.