Artificial intelligence is neither an exclusive technology to high technology companies nor it is something that will happen in the future. Rather it is already a reality which is capable of transforming the organization of all sizes. Artificial intelligence companies are going to change the way we work and do business.
The artificial intelligence market will have a value of about $89847M by 2026 globally. The data is according to recent studies by Statista.
Companies use artificial intelligence algorithms for the increasing rate of sales and improve various areas of concern. This also helps in decreasing the inefficiency and optimizing the operational processes and save costs.
Companies must focus on using artificial intelligence in all the departments of the companies. Because it not only facilitate and simplify many of the tasks that are carried out today, but it would also increase their efficiency. An example of an artificial intelligence application would be to use it in the field of Human Resource where artificial intelligence companies would be able to improve the prediction about the behavior and the effectiveness of the new employee.
Artificial Intelligence Companies can also bring great benefits to the sales area by finding new potential customers.
Following are some AI applications Build by Artificial intelligence companies that will transform the future:
- Robotic Process Automation
Robotic Process Automation is the use of software to create a virtual worker or robot that work with one or several applications in the same way that a person processes a transaction or a complete process. RPA does not replace the applications but it works with the existing system to perform the tasks assigned to it.
Once the RPA software is trained in a certain process, it can carry out the transaction, manipulate the data launch actions and is able to communicate with several systems if necessary.
This technology eliminates the need for the people to perform the repetitive tasks. It can also respond to the high volumes of demand such as technical support, various workflows, and the back office processes.
A digital twin is a digital version of a process, service or product. It describes the architecture, material, and behavior of a process, product or a service. The digital twin helps to predict the future failure or downtime of a system.
Digital twin can be seen as a digital model of a process, product or service through information obtained from the sensors of automation. This union of the physical world with the virtual world allows the data monitoring of the systems for:
- Customize production to customer requirements
- Preventing times inactivity
- Develop new business opportunities
- Plan the future through simulations
- Avoid problems before they occur
This type of digital technology means that companies of all sizes can meet their demands and reduce the time to time market by 50%. It can improve the flexibility by up to 20 percent which determines the competitiveness of the companies.
It seems difficult to imagine a machine that generates great content ideas. The produced content quality should be good. However, machines are already writing the content and they are quite good at doing it. Brands like USA today are already using the AI to generate their content.
One of the great examples of automatic content creation using AI is Wibbitz. It is a SaaS tool that uses artificial intelligence to help the editors to create videos from the written content in just a matter of minutes.
A virtual assistant is a conversational character, generated by the computer which is capable of recognizing the voice and understand the natural language. Nowadays, you can ask your personal assistant to create an appointment, find the restaurant and call a taxi or send a message through Whatsapp.
Artificial intelligence companies like Google, Amazon, Webtunix AI and Microsoft are investing heavily in the virtual assistants. More than 3500 million devices are incorporating the virtual assistants. The opportunities are enormous for the companies that manage to dominate the market.
Artificial intelligence companies are making the software that assists managers to make decisions. In this scenario, artificial intelligence is a smart solution. AI is able to analyze and take the most optimized decision for a lot of alternatives.
Artificial intelligence companies’ are developing the software that can learn to recognize how we feel. The emotion recognition technology is now at the initial stage. But artificial intelligence companies claim that this technology has the power to transform the recruitment process.
AI can decide how honest, dynamic an applicant can be. It can help the employers to rule out the candidates with an undesirable condition. Various companies like Unilever have already started using this technology. The number of companies working in this area is constantly increasing.
For many years, marketing experts have been using the demographic data to get closer to the buyers who by knowing their interests and needs. The current problem is that by segmenting the customers into groups is making limits between the groups. Artificial intelligence companies automate the segmentation of its target audience. By automating the simple and repetitive tasks, companies can focus on complex jobs like strategy and product improvement.
Undoubtedly, artificial intelligence companies offer a great benefit to the organizations. But it also has negative implications for certain sectors of the workers who will see their jobs vanished in the name of robots and automation system. We hope that innovation in the work system, products and services will help to improve the lifestyle of humanity and generate more sales.