International law firm Taylor Wessing is implementing artificial intelligence (AI) across the organisation and wants to ensure staff have the necessary skills to make the most of the technology. Businesses have identified a serious AI skills gap, which 69% of enterprises have described as "moderate, major or extreme" due to the difficulty involved in finding skilled people to staff their new AI-driven business models. According to Kevin Harris, IT director at Taylor Wessing, AI has the potential to greatly reduce the time lawyers spend reviewing documents, many of which can be hundreds of pages long and filled with technical legal jargon. "We are using [AI] quite extensively in looking at things like lease reviews. We've got large document stores where there's a myriad of quite complex legal terms and the AI is really helping us sort those legal terms out," he said.
Businesses are trying hard to stay ahead of the curve and increase conversions in the coming year. As coming year is full of competition, businesses are trying to adapt AI enabled solutions to focus on better-targeted audience. Artificial Intelligence (AI) products are slowly infiltrating homes and place of work. This is something fiction movies coming into reality. Applications and solutions based on Machine learning and artificial Intelligence are influencing different verticals such as real estate,manufacturing, automobile, and healthcare.
Microsoft's Ignite conference is bringing 23,000 IT professionals to Atlanta, Georgia this week and the company is using this opportunity to talk about how it plans to bring more intelligence to its tools and platforms. As companies gather more and more data, Microsoft argues, it's becoming imperative that the tools these companies use also become smarter. This means bringing better analytics to the workplace to help individual employees become more productive, but also bringing machine learning-powered tools to services like its CRM service Dynamics 365. One thing the company's representatives stressed repeatedly during a small press event ahead of the conference was that Microsoft doesn't believe AI technologies will replace humans but instead empower them. We'll see how that works out in the long run.
Salesforce has revealed the launch of its most advanced CRM analytics platform yet. Called Einstein Analytics, this platform leverages artificial intelligence to the analytics workflow, allowing users to automatically create CRM insights. The AI will also be able to recommend actions which improve customer service and boost sales, as well as helping optimise marketing campaigns. Salesforce says that the platform will come with role-specific KPIs, providing users with an "intuitive, self-service way" to gain access to newest data from any device. One of the tool's main features is called Einstein Discovery – which conducts thousands of statistical checks to check the validity of trends and offer'intelligent explanations' to the patterns it identifies.
To set the stage, let's establish why AI will be important. It starts with customers who want more individualized experiences in their interactions with brands and with marketers who want more precision and higher returns from their programs. To create personalized experiences with thousands of customers simultaneously, smart machines are required. I've called this human-to-machine-to-human (H2M2H) marketing and AI-powered systems will make these processes better for both customers and marketers. According to Jake Sorofman of Gartner, "We've understood modern marketing to be using machines as the basis for taking a manual process, standardizing it, and automating it for execution at scale.