Artificial Intelligence: AI could be a safe-house for businesses amid economic slowdown, Telecom News, ET Telecom

By Madhav Sheth The current global spread of AI has helped businesses in significantly reducing inertia throughout their value chains. It has made it possible for the workforce to strive for newer skill sets and undertake complex responsibilities besides allowing them the freedom to make decisions faster and cooperatively improving customer experience.The application of AI in businesses has increased by 270% in just a few years. Reason- primarily to save money, which is quite evident. In fact, according to Pitchbook, venture capital investments in AI businesses totaled $1.37 billion in 2022, more than in the last five years. Investing in AI has enormous advantages for the public sector too, including federal, state, and municipal governments. AI has the ability to improve organisational productivity, cost control, and research advancement.