A new class of smart machines is emerging that can help you automate your business and make life easier for professionals by eliminating many of the routine, manual aspects of their jobs, freeing them to work on more innovative and strategic areas. Products and technologies such as intelligent agents/digital assistants, artificial intelligence (AI), virtual reality (VR) systems, intelligent software agents, expert systems and robotic office devices are likely to become more common in work environments in the years to come. A report released in February 2016 by industry research firm Research and Markets, "Artificial Intelligence Market: Global Forecast to 2020," forecasts that the AI market will grow from 419.7 million in 2014 to 5.05 billion by 2020, at a compound annual growth rate of 54 percent from 2015 to 2020. The key factors driving this growth include diversified application areas of AI, improved productivity, and increased levels of customer satisfaction, the report says. The rising demand for intelligent systems is expected to propel the growth of the market in the next five years.
Artificial intelligence is at the cutting edge of the digital revolution. Reduced operating costs, increased revenue, and optimized customer experience is three of the main benefits of artificial intelligence for business today. AI tools and solutions are becoming more advanced, changing the entire way companies work, market products, and communicate with consumers. It's an exciting stage of the digital revolution, with an opportunity for early adopters to leverage AI to achieve a competitive advantage. Today's consumer landscape is more crowded than ever before.
We are rapidly moving toward a workplace where people interact with machines on a routine basis. With the advent of artificial intelligence (AI), and the chatbots that it powers, technology is now interwoven into many of our everyday job tasks. In fact, it has been reported that more than 80 percent of businesses plan to be using chatbots by 2020. Over the past few years, technology has made huge advances in approximating human interaction, especially when it comes to speech recognition and detection of emotions, visual cues and voice intonation. From Alexa to Siri to Google Home, these technologies are becoming more ubiquitous at a tremendous pace and will have a big impact on how we perform our jobs in the years to come.
Business automation and its services is in a high demand nowadays, giving customers all their requested information and in a timely manner. There are numerous highly advanced systems powered by automated solutions, which allows customers to easily book a restaurant, order takeaway, hotel reservation and even make a Dr. appointment. The customer service vertical is moving into a higher level thanks to the use of Artificial Intelligence (AI). Artificial intelligence (AI) is a specific field of computer science that highlights the making and formation of smart technologies that work and react like people. AI works by merging and unifying huge volumes of data with rapid processing and smart algorithms, permitting the software to acquire the information from patterns or features in the data generated.
AI for short -- has already changed the way businesses operate. Its role in streamlining manufacturing and production is well-known. But AI is also transforming the way companies interact with customers. That's good news since the ability to consistently deliver an excellent customer experience is critical for companies in today's hyper-competitive economy. Here are five ways AI is changing the customer experience: Improving search engine results: People understand that search results are processed by computer programs, but the inner workings remain a mystery for most.