The holidays may be over, but it's still the most wonderful time of the year for tech enthusiasts. CES, the world's largest consumer technology event, brings together thousands of people from around the world to showcase the newest gadgets and technological developments. If something big is coming to technology, it starts at CES. I always say customer experience should make customers' lives easier and better. Technology isn't everything, but it proves to be the secret sauce of some of today's most beloved customer experiences.
In the midst of all the hype about artificial intelligence, you may occasionally pause to ask: "What's new here?" After all, did we not have machine learning applications 10 (or maybe even 20) years ago? In the marketing domain specifically, you may be asking how today's AI is different from, say, an application that has been personalizing real-time content insertion for several years.
Machine learning is currently one of the hottest topics in IT. The reason stems from the seemingly unlimited use cases in which machine learning can play a role, from fraud detection to self-driving cars to identifying your "gold card" customers to price prediction. But what is the future of this fascinating field? What will be the next best thing? Where will we be in ten years' time?
Chatbots, autonomous vehicles, and connected machines in digital factories foreshadow what the future will look like: The widespread implementation of Artificial Intelligence (AI) applications brings many advantages for businesses such as increased efficiencies, fewer repetitive tasks and better customer experiences. Vulnerability to malicious cyber-attacks or technical failure will increase, as will the potential for larger-scale disruptions and extraordinary financial losses as societies and economies become increasingly interconnected. Companies will also face new liability scenarios as responsibility for decision-making shifts from human to machine and manufacturer. In the new report "The Rise of Artificial Intelligence: Future Outlook and Emerging Risks", insurer Allianz Global Corporate & Specialty (AGCS) identifies both the benefits and emerging risk concerns around the growing implementation of AI in society and industry, including in the insurance sector. AI, also referred to as machine learning, is essentially software that is able to think and learn like a human.