Artificial Intelligence (AI) is definitely revolutionizing business processes and operations. With potential advancements in the technology, AI is only gaining more impetus day after another. Furthermore, predictions state that AI will be one of most popular buzz words in 2019.
The surge in sales of smart speakers is a concrete sign of rapid growth for AI. Projections are that the sale of smart speaker will exceed 250 million units in 2019 and revenues will climb 63%.
AI has Positive Impact on Businesses
Most businesses have AI systems, and many are testing the use of technology. On the other hand, a large section of government officials in the U.S. agree that they aware of AI, but are not using it. Moreover, cloud-based AI software will help organizations adopt the technology swiftly.
Senior leaders and executives are using AI to improve several facets of their business. Nearly 50% business executives utilize AI to manage fraud, risk, and cybersecurity. Many business leaders depend on AI to improve work efficiency, thus help take better future decisions. Further, the technology is also helping companies stay competitive.
While there is presumption that AI will cut down jobs, trends show exactly opposite results. At least one-third of the top 15 jobs in the U.S. are some way related to AI. Therefore, the demand for AI skills is rising. At the same time, start-ups with innovative AI products are also increasing. Companies are keen on developing explainable, provable, and transparent AI models to develop trust among consumers.
