During the pandemic especially, it's become overwhelming for small- and medium-sized businesses (SMBs) to answer all of their customer service requests. A Freshworks survey found that companies experienced a 71% increase in overall contact volume between February 2020 and January 2021, and expect it to increase further. At the same time, customers -- while empathetic -- have become more demanding. The same poll shows that 68% of customer service managers have seen an increase in customer expectations. What's a company to do? Automation is one route to more manageable customer experience workloads, potentially.
AI has tremendous potential for benefiting humanity in every area of how we live and work. While most people realize this fact, their hopes for AI also come with a note of caution. A recent survey reported that 77% of Americans expressed that AI would have a "very positive" or "mostly positive" impact on how people work and live in the next 10 years. Another public opinion poll reported that an overwhelming majority of Americans (82%) believed that AI should be carefully managed. With such conflicting viewpoints on AI, organizations will need to manage the quality of the AIs they build.
Contract lifecycle management (CLM), the method of managing a contract from initiation through award, compliance, and renewal, can be costly for companies. World Commerce and Contracting estimates the average cost of a simple contract at $6,900, rising to over $49,000 for more complex agreements. The opportunity is often worth the investment, but without close contract governance, businesses stand to lose up to 40% of a contract's value, a KPMG survey found. The tantalizing prospect of automating the contracting process has drawn a number of entrepreneurs to the space, including UnitedLex co-founder Ajay Agrawal. Agrawal's newest venture is SirionLabs, which comines AI technologies like natural language processing to import and organize contracts, negotiations, and contract review. Highlighting the investor interest in the segment, SirionLabs announced that it closed an $85 million Series D financing round led by Partners Group with participation from existing investors Sequoia Capital and Tiger Global.
A study carried out by Morning Consult on behalf of IBM has found that training in the UK is falling behind in terms of software engineering to support artificial intelligence (AI) initiatives. According to IBM, as AI moves into the mainstream, specialist tech staff are working more closely than ever with business managers. To secure the best possible outcomes, the soft skills of interpersonal communication, strategic problem solving and critical thinking are required across all disciplines. Along with soft skills, the survey, conducted among a sample of 500 tech job seekers, 300 tech employees and 200 tech recruiters in the UK, Spain and Germany reported that 40% of tech job seekers and employees say that software engineering and knowledge of programming languages are the most important technical capabilities for the AI/tech workforce to have. Demonstrating these skills can greatly improve employability and career developments in AI.
Want to improve this question? Update the question so it focuses on one problem only by editing this post. I have a project where I want to give recommendations of products based on answers to autogenerated questions. I have texts that explain for every product, in which cases they make sense for a client to buy (this project is about insurance policies). Based on these I want to generate multiple choice questions.
Gaurav Kapoor is co-founder and President, MetricStream, Solutions and Services. The future will be digital; the past several pandemic years have shown that the shift to digital is happening even faster than expected. A McKinsey global survey found that companies' digital offerings and adoption accelerated by six to 10 years as a result of the crisis. This has led the way for the next generation to take advantage of digital tools as a way to invest, grow and experiment with new currencies. With the rise of digital assets like cryptocurrencies, NFTs and digital real estate in the metaverse, extreme disruption in this space is giving way to a new paradigm of risk.
For over 23 years, Larry Collins worked as a toll collector on the Carquinez Bridge in San Francisco. He loved his job -- every day, he would come to work and greet drivers, provide directions, answer questions, and collect toll fees. Over the years, although the toll price had changed tremendously, his job was always in a stable condition. But, this all changed during March of 2020. In the midst of the coronavirus pandemic, Collins was suddenly informed that his tollbooth was getting shut down and replaced by an artificial intelligence-based toll collector machine. Collins was not the lone victim of industrial automation unemployment, just in the Northern California region, 185 other toll booths were also shut down and replaced by technological alternatives (Semuels). As the 21st-century technological advances continue, applications of artificial intelligence are expected to expand exponentially. Slowly but surely, artificial intelligence is automating a multitude of manual jobs, causing widespread unemployment around the world (Peterson). There is clear uncertainty about the future of artificial intelligence. A recent report from the conference on Computers, Privacy, and Data Protection suggested that the European Commission (EU), is strongly "considering the possibility of legislating for Artificial Intelligence". This legislation would explore a number of nuances that come with future artificial intelligence job automation and will consider the implementation of a novel regulatory framework (MacCarthy). On the other hand, organizations such as Deltec, an international financial research institute, are in support of artificial intelligence automation and don't want regulation as it would hinder humanity's ability to research and solve problems in an efficient manner (Trehan). Currently, there has been no clear conclusion to this ongoing debate -- experts have varying opinions but agree that a full-proof solution is direly needed.
Australians want more digital government services and a majority are comfortable with Artificial Intelligence-generated services that personalise assistance based on circumstances, according to the inaugural Publicis Sapient Digital Citizen Survey on digital government in Australia. The survey of more than 5000 respondents across Australia looked at peoples usage, experience, and perspectives on engaging with Governments through digital services. The report highlights an openness to leveraging AI technologies with 83% of Australians open to digital services that remember details of their past interactions, and 78% are comfortable with a government website that personalised services based on their employment status and income or previous interactions with Government. The survey found that millennials are the most likely of any age group to use government digital services (94%) compared to boomers (79%) and builders (61%), driven by their higher use of employment and family-related services. Most citizens are open to many services being made as available digitally as possible - healthcare, ATO, and Centrelink were the most common areas where citizens have suggested extending digital service offers.
Some reasons why that's the case are tied to the sheer volume of digital content and the complexity of the internet. For businesses and content creators who want to reach the widest audiences possible and meet the expectations of all users, including those with disabilities, the dynamic nature of content poses an ongoing challenge. Consumers today expect personalized content, interactive features, and intuitive interfaces to find information, shop, get entertainment, etc. This level of personalization requires continuous changes in content based on user behavior, preferences, and other data. Unfortunately, every change comes with a risk of making content inaccessible for users with disabilities.