AI is becoming a powerful disruptive technology in recent years. One poll showed that 86% of CEOs feel that AI is a mainstream technology that their companies heavily depend on. According to a recent report by SaaS purchasing platform Vertice, 90% of buyers are overpaying for their SaaS, by an average of 20-30%. Many of these buyers are enamored with the idea of using AI to improve their business models, but don't make sure that they are getting the right value from it. And with these tools responsible for so many indispensable business operations, this figure should be ringing alarm bells for companies of all sizes.

We know that the range of AI-loaded smart products is constantly expanding. But what's less obvious is how AI is also transforming the world of services – enabling service-based businesses to improve their offering, and even develop entirely new services and revenue streams that are underpinned by AI. Just as in product-based businesses, AI has become a driving factor for success in the service sector. Here are three ways businesses are delivering a better service through AI. AI provides incredible opportunities to get to know your customers – what they like and don't like, what they actually do (as opposed to what they say they do), how they engage with your service, what factors would encourage them to engage more deeply, and do on.

Artificial Intelligence (AI) is continuing to advance. But in many AI initiatives, a critical component is missing. Read about why Human-Centered Design critical to succeed in the AI space, and how you can get started. The excitement of artificial intelligence (AI) continues. We keep hearing grand promises of a complete re-shaping of organizations and society thanks to big data and AI-powered projects.

The excitement of artificial intelligence continues. We keep hearing grand promises of a complete re-shaping of organizations and society thanks to big data and AI-powered projects. Media reports on new technical advances, and it's easy to get the feeling that new "artificial minds" are outperforming humans in more and more domains, ranging from healthcare, transportation, logistics, and financial investment, to games and even creativity. At the same time, recent studies estimate that 60 percent of data-driven and AI projects fail to even launch. And we also hear many concerns about the risks with AI, such as robots taking people's jobs and how negative bias can spread fake information that can amplify and distort public opinion.