The use of artificial intelligence (AI) is a central element of the digital transformation process at the BMW Group. The BMW Group already uses AI throughout the value chain to generate added value for customers, products, employees and processes. Michael Würtenberger, Head of "Project AI": "Artificial intelligence is the key technology in the process of digital transformation. But for us the focus remains on people. AI supports our employees and improves the customer experience. We are proceeding purposefully and with caution in the expansion of AI applications within the company. The seven principles for AI at the BMW Group provide the basis for our approach."
The digital sphere is raining technologies. The influence of artificial intelligence is taking center stage with every possible improvement. Technology is changing almost all industries including banking and finance, healthcare, automobile, telecommunication, manufacturing, defense and military, entertainment and media, education, etc. The sub-domains of Artificial Intelligence such as machine learning, natural language processing, data analytics, and image analytics are also rolling out profitable use cases in diverse sectors. Besides, artificial intelligence is serving the business purpose by leveraging end-to-end automation processes. Therefore, Analytics Insight has listed the top 50 business use cases of artificial intelligence in diverse sectors. Predictive analytics is a gift to healthcare. Sometimes, we come across patients who say they underwent an unnecessary surgery due to a lack of predictions on what was coming. Fortunately, artificial intelligence is changing the fate of such burdensome risks and avoidable surgeries.
AI is changing every industry and business function, which results in increased interest in AI, its subdomains, and related fields such as machine learning and data science as seen below. However, we also note that since COVID-19 outbreak, interest in AI, as measured by Google queries about AI, has been stable / possibly declining. This may be due to increased interest in COVID-19 and its effects during this period. However, this depends on the specific industry and applications, we see increased interest in AI in manufacturing during the same period. As of 2018, 37% of organizations were looking to define their AI strategies. There has been significant progress since then and according to a recent O'Reilly survey, 85% of organizations are using AI. To integrate AI into your own business, you need to identify how AI can serve your business, possible use cases of AI in your business. Marketing can be summarized as reaching the customer with the right offer, the right message, at the right time, through the right channel, while continually learning. To achieve success, companies can leverage AI-powered tools to get familiar with their customers better, create more compelling content, and perform personalized marketing campaigns. AI can provide accurate insights and suggest smart marketing solutions that would directly reflect on profits with customer data. Marketing analytics: AI systems learn from, analyze, and measure marketing efforts. These solutions track media activity and provide insights into PR efforts to highlight what is driving engagement, traffic, and revenue. As a result, companies can provide better and more accurate marketing services to their customers. Besides PR efforts, AI-powered marketing analytics can lead companies to identify their customer groups more accurately.
We are tracking the most impactful AI use cases here. This is meant to be a list that grows over time so feel free to contribute with your comments, this list is definitely not comprehensive now. And share the knowledge with your twitter followers: @AndrewYNg claims that "AI is the new electricity". We compiled 100 applications runnning on this new electricity. Marketing can be summarized as reaching the customer with the right offer, the right message, at the right time, through the right channel while constantly learning. Optimizing product, pricing & placement allows marketers to create an attractive value proposition to customers. Gesture Control: Gesture control enables higher levels of activity and engagement by allowing users another mode of interaction with your digital products. Quantify the gesture levels and other engagements in order to provide meaningful insights. Pricing Optimization: Also called dynamic pricing or demand pricing, pricing optimization allows companies to optimize markdowns. Optimal markdowns minimize cannibalization while maximizing revenues. One of the easiest transformations a business can achieve, dynamic prices directly impact the bottom line and can be rolled out in a matter of days. Optimize markdowns to minimize cannibalization while maximizing revenues. Identify which products are of significant importance for customers.
Industrial IoT is an area in growing dynamism and is shown to be able to transform organizations, create new business models and revolutionize entire industries. The theme is of absolute importance and finds its place in various digital innovation processes. In particular, in those who are experimenting with production systems with the Industry 4.0 paradigm. More technically, the term of the Industrial Internet of Things means the evolutionary path of the Internet through which every physical object acquires its counterpart in the digital world. At the base of the IoT (and therefore of the IIoT), there are intelligent objects (i.e.