How will AI transform business?

Artificial intelligence (AI) has become part of our daily life, whether through search engine algorithms or the use of Siri or Alexa on our mobile phones for translation, taxi requests or maths calculations. Businesses are taking big steps in adopting AI in their daily operations. The percentage of enterprises employing AI has grown by 270 percent over the past few years, according to Gartner, Inc. Total AI investment by firms globally surged to a record-high $77.5 billion in 2021, up from $36 billion in 2020. Its key findings reveal that the US has benefited most from this investment drive: US-based companies pulled in two-thirds of total global venture funding in AI in 2021 – or $51 billion worth of investment.