Artificial Intelligence in Business
In the next decade, AI will become the main market trend and the best business tool, analysts at PwC international consulting agency say.
Thus, according to the latest report, the contribution of intelligent technologies to global global GDP is estimated at 15.7 trillion. And, according to experts, it is thanks to artificial intelligence that figure will grow by another 14% by 2030. More than half the amount of growth will go to consumption growth.
Artificial Intelligence Capabilities
1. Increase business productivity through ubiquitous automation of basic business processes (including the use of robots and autonomous transport systems).
2. Strengthening existing in the market of working resources (the so-called "universal artificial intelligence", "sharpened" to the rescue and expansion of human capabilities).
3. Increased demand for products and services of companies due to their personalization and individual approach to each client. This will help the use of AI-assistants and analytical programs.
According to PwC, in the next 5-10 years, China will be the leader in using artificial intelligence in business. North America also has significant potential. Western Europe is still crawling in the tail. The growth of interest in innovative developments from global investors in recent years provides a good prospect for the increasing trend of massive AI use in basic industries. Therefore, for the IT industry in Ukraine, this gives colossal chances.
According to analysts, financial services, retail, medicine, pharmacy and the automotive industry will benefit most from AI technologies.
Personalization increases the attractiveness of goods and services, attracting an additional consumer audience and strengthening the existing one. The increase in consumption means an increase in the amount of data, which provides more insights and more opportunities to improve the product. Having studied the preferences of its customers and offering them an individual approach, a business is able to increase its market share.
According to the PwC report, more than half of the surveyed consumers from different countries of the world believe that artificial intelligence is fully capable of providing them with all the necessary information regarding a service or product, and to do it clearly, clearly and easily. Moreover, more than 40% of respondents say that artificial intelligence technologies expand access to financial, medical, legal and transportation services, in particular for people with lower incomes or financial opportunities. And 57% are ready without any doubts to provide their personal information to improve and improve the quality of medical care. According to experts, such a position is justified by the absence of a machine or bot with an emotional component that can influence a certain mood (or lack thereof) on the part of the client.
Experts say that the key factor in the success of business development in terms of interaction with artificial intelligence technologies is, first of all, efficiency: the faster a business masters these technologies and determines the priority directions for their use, the more benefits it will receive and the less it will lag behind its competitors. This applies to all without exception areas of activity, including those that have been progressing for more than a year through innovations: transport and logistics systems, insurance and financial services, energy and robotics in production.
However, most organizations still prefer to set certain boundaries as part of the implementation of a number of technological solutions, and even create separate units for their adaptation. While AI requires that you interact with it as part of a “team game” - this allows you not only to save the budget for innovations, but also to better understand how the technology works.
In general, AI, according to PwC analysts, has a widespread potential impact when it comes to transforming the business environment. And in the next 3-7 years, this will become obvious, based on how the commercial services market will change.
Material prepared on the basis of the publication everest.ua.
