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2020: Year of Chatbots

chatbot artificial intelligence salesforce

 

Artificial Intelligence (AI) is all around us and we are taking advantages of it continuously via our smartphones, wearables, Internet of things, cars, home appliances, in our offices, in public services, in our retail experiences throughout media and beyond. AI has fulfilled its promises to fundamentally change our everyday living. Artificial intelligence (AI) has the potential to transform industries and the way organisations and professionals used to work. With the ability to learn and adapt, AI is capable to develop increasingly sophisticated capabilities that will allow it to execute a growing number of tasks that works perform manually today.

 

According to an April 2019 survey from Ada and Forrester Consulting, 89% of customer service decision-makers in Canada, the UK and the US believe chatbots and virtual agents are useful technologies for personalizing customer interactions. Another study from Juniper Research has found that the operational cost savings from using chatbots in banking will reach $7.3 billion globally by 2023, up from an estimated $209 million in 2019. This represents time saved for banks in 2023 of 862 million hours, equivalent to nearly half a million working years.

 

While there had initially been fears that AI would replace human workforce and take over jobs, the emerging consensus is that is proving to be a bonus for enterprises and human workforce because it will allow machines to execute repetitive, routine tasks while freeing human up to perform higher level activities that will increase their overall productivity. In addition to that, As AI has been identified as one of the biggest technologies for the economic growth. More and more business and governments are launching programmes designed for developing deep learning capabilities in AI in order to build an AI ecosystem.

According to PwC’s 22nd Annual Global CEO Survey, AI will add US$15.7 trillion to global GDP by 2030, which is more than the current output of China and India combined. Gartner predicts that 70% of organizations will integrate Artificial Intelligence to assist employees’ productivity by 2021. Business leaders know that those who take the lead now will get the biggest share of this prize. according to the latest Global CEO Survey, nearly 3 out of 5 Global CEOs believe AI will have a larger impact on the world than the internet revolution.

 

ARTIFICIAL INTELLIGENC LARGER IMPACT THAN THE INTERNET REVOLOUTION

 

These figures show that AI is increasingly making its way into any workplace with the help of virtual personal assistants (VPAs) and other forms of chatbots and expanding human performance in many organizations. For enterprises, AI chatbots offer a way to build a more personalized and engaging customer experience, which in return delivers a wealth of customer information that is highly valuable in better understanding their customers and growing their business.

US market researcher expected that 85% of consumer-business interactions would be through intelligent bots. The new online study from USU confirms a high potential for the customer service of the future. Here below are few key areas where businesses can derive value from chatbots:

 

    • Business are creating value through transforming customer journeys by providing immediate response to consumer’s queries or issues. According to McKinney’s study, 75% of customer demand NOW service within 5 minutes of online contact. If business can beat this time, they can convert a ‘visitor’ into a ‘paying’ customer.

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    • Staffing a 24x7x365 contact center mainly with human agents can be costly. According Human Resource Institute, it costs companies $10-$15k to replace one frontline employee. Therefore, it’s easier for Business to avail a 24/7 customer service via their chatbots ecosystem that are able to resolve customer queries related to i.e. complaints, product returns, refunds, tracking & tracing of orders etc in no time. According to a survey by Oracle, 80% of brands are planning to integrate Chatbots in their customer service by 2020.

 

    • Chatbots help to reduce costs by enabling enterprises to serve more customers without hiring extra staff as Chatbots are able of speeding up response times, freeing up agents for more challenging work, and answering up to 80% of routine question.

 

    • Chatbots not only help to reduce cost but they also drive more revenue by upselling as they can remember customer’s preferences, they are able to provide advice, tips and recommendations. All of this is possible if the chatbot is intelligent enough to know the customer’s buying journey.

 

 

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Artificial Intelligence: Top Pick Statistics for 2020

Artificial Intelligence Top Pick Statistics 2020

    • According to the market research firm Tractica, Revenues from the artificial intelligence (AI) software market worldwide is expected to have a growth of 6 billion by 2025 – Statista

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    • According to Gartner, Inc. 25% of customer service and support operations will integrate virtual customer assistant (VCA) or chatbot technology to communicate with customers by 2020 – Gartner

 

    • Large companies are adopting AI at a rapidly accelerating rate. Just 4% of enterprises had adopted AI 12 months ago. Today, 14% of enterprises have deployed AI. A further 23% intend to deploy AI within the next 12 months. Adoption will continue to accelerate; in two years, nearly two thirds of large companies will have live AI initiatives – Gartner

 

    • According to PwC analysis, AI, robotics and other forms of smart automation will bring great economic benefits and contribute up to $15 trillion to global GDP by 2030 – PwC

 

    • By 2020, investors will use platform, data value and customer engagement metrics as value factors for all enterprises- IDC

 

    • IDC predicts that the Global Datasphere will grow from 175 Zettabytes by 2025 – IDC

 

    • Artificial intelligence has come into the mainstream because it allows us to make sense of an increasingly large amount of data in real time. Indeed, worldwide data will grow 61% to 175 zettabytes by 2025- IDC

 

    • In order to fill skill gaps caused by the need of AI adoption,75% of organizations will be investing in employee retraining by 2025 – IDC

 

    • By 2021, at least 50% of global GDP will be digitized with growth in every industry driven by digitally enhanced offerings, operations, and relationships- IDC

 

    • The RPA Services Market will grow to reach $12 Billion by 2023. Also to be noted that, Forrester has previously projected that the RPA software market itself will grow to $2.9 billion by 2021. – Forrester

 

    • 11,214 results This is the number of open positions produced by a recent search for “robotic process automation”on LinkedIn’s jobs site. Titles vary within this growing IT jobs category, but “RPA developer” (and variations of the same) is an increasingly common one – reflecting the need for IT pros who can build the bots that enable organizations to offload repetitive, time-consuming tasks – LinkedIn

 

    • Clinical health AI applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026 – Accenture

 

    • Growth in the AI health market is expected to reach $6.6 billion by 2021—that’s a compound annual growth rate of 40% – Accenture

 

    • According to a report by Statista, revenue in the Smart Home market amounts to $90,968m in 2020. Household penetration is 9.3% in 2020 and is expected to hit 19.3% by 2024. The average revenue per installed Smart Home currently amounts to $77.07. Revenue is expected to show an annual growth rate (CAGR 2020-2024) of 15.0%, resulting in a market volume of $158,876m by 2024 – Statista

 

    • 80% of all marketing executives predict Artificial Intelligence will revolutionize marketing by 2020 by generating a better sale close rate, increase in revenue, improvements in website traffic and customer engagement and a higher conversion rate of potential leads to paying customers- DEMANDBASE

 

    • Chatbots integration will allow banking and healthcare sector to save $8billion annually by 2020- Juniper research

 

    • AI surveillance technology is spreading at a faster rate. At least 75 out of 176 countries globally are actively using AI technologies for surveillance purposes, including smart city/safe city platforms (56 countries), facial recognition systems (64 countries), and smart policing (52 countries) – Carnegie endowment for international peace

 

    • AI embedded in analytics and other marketing software will free up more than a third of data analysts in marketing organizations by 2022, providing them with more time to spend on other business priorities instead of spending time on repetitive manual processes – Gartner

 

    • In approximately 60% of occupations, at least 30% of constituent activities are technically automatable by adapting currently proven AI technologies in sectors such like: Finance and insurance, Retail, transport and trade, Professional services, Manufacturing, Healthcare – McKinsey Global Institute

 

    • According to the report, the global artificial intelligence (AI) in cyber security market was USD 7.1 billion in 2018 and is expected to reach approximately USD 30.9 billion by 2025, at a CAGR of slightly above 23.4% between 2019 and 2025 – Zion Market Research

 

AI and Automation impact on medium-sized Companies and Organizations

 
The Business Benefits from AI and ML
  • Massive Data Consumption from Unlimited Sources
  • Rapid Analysis Prediction and Processing
  • Simplifies Time-Intensive Documentation in Data Entry
  • Handling Repetitive Jobs
  • Reduction of Error
  • Improves Precision of Financial Rules and Models
  • Easy Spam Detection
  • Interpret Past Customer Behaviours
  • Better Customer Segmentation and Accurate Lifetime Value Prediction
  • Recommending the Right Product
  • Digital Assistance and 24/7 Availability

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Hyper Automation and Artificial Intelligence (AI) are seeping into every aspect of business, from operations to production and from product development to business processes. Processes, tasks and role models – everything is changing with this revolutionizing in the commercial sector. This evolving area of Artificial intelligence (AI) and machine learning (ML) is the future for all businesses, and it’s already affecting the way we live and work today. In fact, research firm Markets and Markets estimates that the machine learning market will grow from $1.41 billion in 2017 to $8.81 billion by 2022!

 

The new digital technologies are having different impacts on jobs in the short and longer term. While automation may displace workers within a sector in the short term, studies are demonstrating that overall employment is growing when looking at a longer period comparing results from different sectors and the World Economic Forum has found that, by 2022, algorithms and other transformative technology could create more jobs – as many as 58 million. Because despite automation and artificial intelligence, people will continue to be important in the future.

 

Artificial intelligence opens up possibilities far beyond currently available functions. PwC estimates that business could save $2 trillion globally by applying intelligent automation to many activities that were previously processed by humans and making employees more productive.

 

Like business of all sizes, SMB are also flooded with data gathered from different sources such as, customer data, supplier data, market data, operations data and many more. AI can quickly pull out insights from these databases and extract valuable data. Managers can get valuable insights on business process from workflow management and/or make sales predictions easily by using data from ERP systems. As AI is able to pull out insights from data easier than human workforce and run the routine tasks to add value to existing business, company can use its human resources to solve potential problems, spend time on creative tasks and boost business ability to innovate.

 

SMBs can also benefit from AI to identify, understand and better target their customers. Business can forecast customer behaviour and run data-based campaigns to have remarkable results with the use of big data and artificial intelligence. It helps them to save a lot of money on marketing and sales efforts by bringing them valuable leads. Not only business can achieve valuable leads and turn them into customers but they can also maintain a good relation and provide a better service to these customers by introducing a 24/7 customer service with the help of AI equipped chatbots. These chatbots are able to handle customer enquiries and provide customer support on time and appropriately, based on the needs of customers.

 

Not only in customer service, artificial intelligence is demonstration it’s capacities in accounting, finance, auditing and tax controlling, fraud detection as well. Instead of recurring routines, data analysis, process control and optimization by automating procedural tasks would be on the agenda of SME by allowing employees to make even more valuable contribution to corporate management. As AI can decipher data and draw actionable insights easily from complicated situations and eliminate/reduce errors, it’s totally transforming and changing the way accounting and tax firms used human intelligence to perform same tasks. With an accurate integration of AI empowered workforce, accountants and bookkeepers can build a value-based business, attract more customers and increase revenue by spending less time that they were used to spend.

 

Customer service and accounting are not the only 2 departments getting aids from AI, sales and marketing are also getting their potential customer’s pipeline faster than ever before by finding interesting leads in their databases as contact information is available for the market you want to target.
By engaging each potential lead in a very personalized way, sales person can turn the lead into a paying customer and recommend the right product with the help of gathered data on the customer.

 

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Artificial Intelligence: Just a Trend or A Long-Term Growth Factor?

Artificial Intelligence Just a Trend or A Long-Term Growth Factor

Artificial Intelligence is having an impact on our world in many different ways by playing an increasingly important role in our lives and worldwide economy. The number of companies that have integrated AI in their process is growing rapidly, in sectors like health-care, retail, HR, marketing and cybersecurity industry and the war for talent acquisition and competition for value creation is on the next level between industries and nations.

 

AI is not new or just a temporary trend, history tells us that humans and the companies are remarkably successful at working together with robotics to the latest technologies such as smart machines, including 3D printing, AR and VR in order to survive in competitive era and also find new opportunities for their companies’ growth. A study by MMC Ventures revealed that 60% of the interrogated cases, which represents 1,580 companies, AI is being used in their solutions and 40% of the self-proclaimed “AI companies” in Europe had discovered that AI was not used in their solutions.

 

AI is bringing its advantages in sectors like healthcare, transportation, cyber security industry, security industry, prediction of natural disasters, farming, smart-cities, and is helping to reinforce economy. A discussion paper created by McKinsey demonstrated how AI applications are contributing for social good. According to McKinsey’s analysis, AI initiatives are having a positive impact on good health and well-being, peace, justice and strong institutions, provide quality education, protect all life on land and below water, ending poverty, industrial innovation and infrastructure, reducing inequality, climate action, decent work and economic growth, gender equality, sustainable cities and communities and responsible consumption and production, increase work efficiency and output, offers accurate future predictions, detect frauds, avoid human errors with the help of increased automation and many more.

 

Artificial intelligence is certain ally and dramatically improving the efficiencies of our workplaces and increasing the work humans can do by taking all repetitive or dangerous tasks and the human workforce to do work they are better equipped for, such as, tasks that involve creativity and empathy among others. By doing work that is more engaging to them, job satisfactions, productivity and happiness among employees is also increasing.

 

AI in its many forms offers users the ability to do tasks on a scale and at a speed that humans cannot achieve on their own. AI can also gain new insights from analytical tasks. It’s not just about collecting large amounts of data (=bigdata) and investigative it with advanced mathematics or developing amazingly complex algorithms. Once the gathered data is well extracted, managed and good algorithms are chosen, our society will gain countless hours of productivity with just the introduction of well automated tasks.

 

Thus, it seems important to clear the fuss around AI destroying jobs because it’s only fiction rather than a fact. Instead of destroying jobs, AI is bringing a gradual evolution in the job market, people are getting better at their jobs with the help of AI. According to a report from the World Economic Forum (WEF) called “The Future of Jobs 2018, and recent report called “Job creation and elimination worldwide due to AI 2022” AI, Machines and algorithms in the workplace are expected to create 2.3 million jobs. Even who does the work is changing rapidly – human, robot, or co-bot. The division of labour between humans, machine and AI is shifting quickly. By 2025, it is expected to shift to 48% human, 52% machine or algorithm. The combination of human and machine is the new normal in the workforce of the future.

 

Technology helps move society forward, and the integration of AI is doing the same. The integration of AI into healthcare, smart cities, law and other service-based industries is helping in making processes simpler and giving them enough time to focus on other issues. In this increasingly data-driven world the importance and impact of artificial intelligence is only growing and is becoming more crucial in gaining competitive advantage. Therefore, despite all the positive effects and worldwide boom in artificial intelligence industry, companies shouldn’t forget that AI is only a tool that they need to update/improve continuously instead of one-time investment in order to achieve their goals.

 

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IT Trend 2020: Hyper-Automation

IT Trend 2020: Hyper-Automation

Gartner Top 10 Strategic Technology Trends for 2020 have listed Hyper Automation as one of the biggest trends for 2020, as more and more enterprises are adopting automation in their work processes. Forrester has predicted that the global market for RPA services will hit US$7.7 billion next year and is expected to grow to US$12 billion in 2023. AI is increasing productivity through automation and is helping organizations derive meaning from ever-larger data sets.

 

Hyper-automation is the mixture of automation technologies that exist to expand and increase human capabilities by allowing organisations to automate more complex work with the help of robotic process automation (RPA) at its core, with artificial intelligence (AI), process mining, analytics, and other advanced tools that strengthen the ability to automate work. As defined by Gartner:

 

“Hyper-automation deals with the application of advanced technologies including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans.”

 

The adoption of Automation is helping organizations, that are data-driven, to be able to better respond to their customers’ demands, identify new business opportunities, improve their service delivery, eliminate all human errors, and reduce costs.  The idea is to automate more and more knowledge work, and engage everyone in an organization to be part of the transformation.

 

How is hyper automation important for enterprises in 2020?

 

Over 1 million knowledge-work jobs will be replaced in 2020 by software robotics, RPA, virtual agents and chatbots, and machine-learning-based decision management, predicts research firm Forrester in their new report, “Predictions 2020: Automation.”

Data Science, Analytics and Cognitive technologies are feeding RPA with the intelligence which is revolutionizing software automation in industries. Hyper automation offers a lot of benefits to the business by giving access to collaborative intelligence where humans and technology works side by side so that they can perform their roles optimally. As employees don’t need to perform repetitive tasks, they can be educated to work with automation tools, wisely and with intention, and learn the latest business and marketplace information through machine learning. They can also to taught how to interpret AI-enabled decision-making, find creative solutions to resolve problems and get more engaged with their jobs.

 

Simply put, once Hyper automation is incorporated into your business it will help to reduces human effort by doing a lot of work in lesser amount of time, reduce the risk of human errors as machines are calibrated for precision, improve the quality of jobs by eliminating deadly, exhausting, and dangerous for humans processes and leads to increased productivity and higher output.

 

But before any implementations, business must think and identify areas and processes where automation is really needed.  Business leaders must make a business plan and estimate the the return on investment, and of course train existing personnel to make the most of automation instead of thinking that automation will take their job.

 

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AI Trends: What can we expect from Artificial Intelligence in 2020

AI Trends: What can we expect from Artificial Intelligence in 2020

Artificial Intelligence became one of the most dominant topics in 2019 but, together with machine learning and data analytics, these technologies are continuously delivering practical applications and dramatic changes in many industries and are impacting our our daily life. We’re living in the age of automation, and thus, with the increasing spread of AI in almost all industries, the challenges are growing in addition to the areas of application. Therefore, it’s time to make our policies right in order to maximize the advantages without wasting any time.

 

Here below we’ve tries to demonstrate the application of AI shaping different industries in 2020:

 

  • Al in healthcare is not new but the field of health AI is superficially wide, from covering wellness to diagnostics to operational technologies, AI applications are also being integrated for administrative and clinical health care processes. In 2020 more and more AI-powered bots will be assisting with surgery, including heart, colorectal, and thoracic. AI will also be fulfilling its promise of helping the healthcare industry to manage their costly back-office problems and inefficiencies by providing patients and medical professionals automated digital medical records so they can get rid of stacks of folders with decades of health records. With the integration of electronic health record (EHR) technicians are using AI to help document, sort, and store records in digital form.

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  • According to a new report by Reports and Data, the global Artificial Intelligence (AI) in the Construction market is forecast to reach USD 4.51 Billion by 2026. The aim of AI in construction industry is to make the construction process faster, safer and more cost effective by reducing human error and better utilizing big data as even complex plumbing, mechanical and electrical tasks can be designed in 3D and can be worked through while planning, saving time and costs in the building stages.

 

  • Retail industry is not hidden by AI and it’ll keep revolutionizing the retail industry, from helping customers find the items through visual search to personalizing their entertainment experience through chatbots, maximizing sales via cross-selling, proving a better customer service. Also, in 2020, AI will keep helping retailers to understand their customers better via their buying patterns, interests and more, in order to allow them to target specific groups of customers, personalize their experience, and provide them only with the information that is relevant to them.

 

  • We are living in an era in which AI application are having major impact on every industry on the they do Human resources executives are implementing AI to improve HR functions, such as self-service transactions, recruiting and talent acquisition, payroll, reporting, access policies and procedures and they believe that merging AI into HR administration functions will benefit and improve the overall employee experience.

 

  • Human workforce may have limitation but machines can work on a continuous basis to ensure faster production of goods. IoT and AI have already been used in the manufacturing industry since long to assemble the products and revolutionizing mass production of goods and boosting the output of different industries. AI-driven robots can work 24-hours a day and help to drive mass production. Artificial intelligence can reduce the manufacturing operating expenditure and improve the productivity. The global artificial intelligence in manufacturing market size was $513.6 million in 2017, and is projected to reach $15,273.7 million in 2025, growing at a CAGR of 55.2%.

 

  • AI is bringing increasing transformations in the financial services and is changing the way services are delivered to customers by allowing more informed and tailored products and services, internal process efficiencies, higher cybersecurity and minimizing

 

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RPA & AI in Health Care

Smart systems affect our professional and private lives. Artificial intelligence (AI) is getting sophisticated and forming the basis for all the technologies we use on a daily basis. Obsolete technologies are making ways for new systems, entrepreneurs must reorient and restructure their business processes towards digitisation. As AI is getting increasingly sophisticated at doing what humans do, more efficiently, more quickly and at a lower cost, it’s use in healthcare can play a major role. Many industries already rely on automation of business processes using robotic process automation (RPA) or even artificial intelligence. Is this a good solution for the healthcare industry too?

 

With the advancements in technology applications and apps that encourage healthier behaviour, the population is increasingly having longer life expectancies. Hospitals struggle with mountains of data and inefficient and complex ways of processing all these data. Moreover, caregiver spent a significant amount of their time doing these repetitive tasks.Thus, the need for medical care is growing and the shortage of skilled workforce in the care sector is growing as well.

 

The complexity and rise of data in healthcare means by making AI and robotics a part of our healthcare Eco-system, and with the integration of automation of processes, we can counteract these problems. With the use of software robots, we can shifts repetitive, time-consuming routine activities, such as administrative or billing operations, away from employees to virtual “colleagues”. Faster access to data also makes medical care easier for patients: with the data generated via patient wearables and other medical devices combined with AI, it’s helpful to oversee early stage heart disease, enabling doctors and other caregivers to better monitor and detect potentially life-threatening episodes at earlier, more treatable stages. Doctors and caregivers can have more personal contact with patients and often fewer mistakes.

 

AI can be used to analyse and identify patterns in large and complex datasets faster and more precisely than it has previously been possible. It has the potential to aid the diagnosis of disease. Using AI to analyse clinical data, research publications, and professional guidelines could also help to inform decisions about patient’s treatment. But as AI depends on digital data, so any inconsistencies in the availability and quality of data restrict the potential of AI. 

 

Robotic Process Automation is digital techniques form an interface between the management concept and the automation of business processes using software solutions. Virtual employees take over the handling of individual user interfaces or even entire business processes. With the help of automation, workers get more time for tasks that require individual interaction and emotional judgment. Software robots mimic and perfectly scalable business processes in all areas around the clock with almost zero error rates.

 

Opting for RPA can represent a lot of advantages for medical institutions, such as:

 

  • Automation of routine tasks = relieves employees of frequently repetitive tasks so they can apply their skills to cases that require a human touch
  • Process, input and extraction of user interface-driven data from clinical applications, lab information systems, third party portals, insurance portals, radiology information systems= increase productivity and improves quality of work
  • Software robots work faster without any human error = Patient’s data up to date
  • An RPA robot can enter pertinent and specific health information into a patient’s Electronic Medical Record (EMR).
  • With the use of RPA, doctors have patient’s digital traces all the time = more insights into work process flows
  • RPA productivity also translates into return on investment as Software robots work much faster than their human counterpart
  • Helps caretakers not only reduce costs and gain efficiency but also increase the quality of patient care and amount of time spent with them
  • RPA can optimise patient registration, appointment scheduling, billings and payment posting = decrease in operational costs and improvements in patient experience 

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RPA is offering great benefit to health care professionals and administrators in helping them perform their tasks at a higher capacity with less effort. The combination of RPA and artificial intelligence forms the next level of automation because systems make their own decisions, learn and optimise processes independently. AI can assign tasks, which are then executed by RPA. The software robots provide the hands for the cognitive systems. In the future, for example, automation solutions could be even more involved in the monitoring of people in need of care. However, it often turns out to be sufficient and above all more meaningful to use RPA alone as it enables them to provide immediate productivity gains, achieve near zero error rates, reduce operational costs and greatly increase the quality of patient care.

 

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Powerful use of AI in Customer Service

Powerful use of AI in Customer Service

AI technology has long history which is actively and constantly changing and growing. As the AI era continues to unfold, it’sset to play an increasingly prominent role in our day-to-day livesand becoming one of the most important technology trends of our lifetimes.

According to researcher Gartner research, 85%of customer service operations will use Virtual Customer Assistants by 2020and will drive up to $33 trillion of annual economic growth. As today’s Artificial Intelligence (robotics) has the capabilities to imitate human intelligenceby performing various tasks that require thinking and learning, solve problems and make various decisions companiescan provide a better customer-oriented service with the use these software’s.

 

Here below are fewbenefits that AI-based systemsprovide in Customer Service.

 

Chatbots

Artificial Intelligence is redefinesthe customer service standardswith the use of advances chatbots. With chatbots, powered by AI, answers can be found automatically for a large number of customer questions,better and quickerthan by the call centre employees.However, for chatbots, clearly defined tasks should be defined; basically, they are most efficient when addressing a limited topicBut as Natural Language Processing and Machine Learning are making these Chatbots work far better, and their scope in providing service is increasing as these bots process more information and detects consumer behaviour in all terms.

 

Multi-channel Support

Artificial intelligence customer support has capabilitiesdirect the customer quariestowards alternative support channels when necessary. For example, if a Chatbot is unable to solve a particular query, AI will direct the customer to the call support channel to resolve the issue. This provides a bettercustomersservice, as theyhave their issues solved efficientlyand quickly.

 

Automated Response

AI and automation are already having a profound effect on business communication. With the use of automated response system, AI can take-off a lot of load from customer service teams. With the integration of automatic replies, they can save time and offer quick replies.Based oncustomer data, AIcan help identify customer issues and concerns even before they get in touch with customer serviceand generate the answer that is directly related to that customer’s situation.

 

24/7 customer service

For a company, either is a medium or large sized, it’s impossible to hire a customer support available 24/7 as its overall cost can exceed their budget. Thus, AI is the solution that can manage flawless their customer service operations with itsimpeccable capabilitiesofhandling all problems with fluency and precision.

 

Language barrier

A company that is expanded at multiple locations might face difficultiesto provide acustomer support network in different regions with different time zones. But no matter what your communication medium or language you want to install, AI can managefast, reliable, durable, multilingual and hassle-free technology. These are, of course, some few promises of AI for your business.

 

With the use of artificial intelligence in the field of customer service, companies aim to realize an optimized customer experience – across channels and in real time. First and foremost, AI technologies and machine learning processes are elementary tools to achieve a significantly higher level of customer focus.

 

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Artificial Intelligence – Existing Educational Systems and Next Generation Jobs

Artificial Intelligence in education

 

Artificial intelligence has existed as a field for more than 50 years, but in pace with technological developments in recent years, the area has found increasing numbers of applications and has been the subject of increasing attention. New methods and technologies mean that the mobile phone not only understands what we say, but also translates between languages ​​as quickly as we speak, recognizes faces. There are methods and technologies of artificial intelligence that lie at the core of self-driving cars and robots that perform precise surgical procedures. Facial recognition in stores, robotic sellers who submit offers based on past behaviors, facial recognition in stores, language assistants (like Alexa or Google Home) who are always listening and making recommendations based on recorded conversations. Al is a subject area that is changing how we live and work and how the future will be.

 

With all these AI advances, the demand for expertise in artificial intelligence has exploded. Graduates are employed before they finish their education and receive millions of salaries. Analysts believe that 2020 will be an important year in terms of AI in the workplace and claim that artificial intelligence will create 2.3 million jobs worldwide that year.

 

The most important thing to remind here is that software and tools based on artificial intelligence reflect the culture, preferences and background of developers. Therefore, it is crucial for each country to build its own strong expertise in the field, both in research and education. An investment in artificial intelligence can only succeed if it is based on a general strengthening of the ICT subject. Here it is necessary to strengthen the competence and education at all levels, as well as to promote the interaction between theory and technology, and between research and application.

 

To be on the top of AI game, governments should aim to develop internationally strong research environments in the field. This must be done by building on and strengthening the existing research networks and the environments within artificial intelligence in their own country and helping to position these in European and international networks. It is important to link up with the strategies for artificial intelligence in Europe, and adapt to the EU’s strategies, compliances and framework conditions for research and development.

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In order for a strategy for artificial intelligence to succeed, it should put man in the center. It should aim for the entire population to be able to exploit the new tools the field brings in a reflective way where they are able to judge the weaknesses and strengths.

 

Artificial intelligence is not only important for innovation, growth and competitiveness, but for how we want to work and live in the future. Increasing the overall digital competence is also necessary in view of the ethical challenges associated with this development.

 

Education systems needs to be brought up to date to reflect that we now live in a world where problem-solving and creativity are becoming more important assets. Regurgitating knowledge is something that you can automate very easily, but with actual education system, isn’t preparing children for the modern workforce.

 

No need to repeat that for students, AI will inevitably impact their careers. The AI era is inevitably creating new job types, ranging from machine regulators to emotion engineers. McKinsey predicts that AI will replace up to 800 million jobs by 2030. That’s a drastic reshaping of the workforce — and one that universities should help students prepare for. Students interested in careers in AI can pursue a wide range of exciting new career possibilities focused on data science, machine learning or advanced statistics.

Digital Trust 2019: Trends in The Artificial Intelligence Era

Artificial intelligence (AI) has rapidly developed in recent years. Today, AI tools are used widely by both private and public sector organizations around the globe. The capabilities of AI now and in the near future are creating extensive and significant benefits for individuals, institutions and society.

The foundation of AI is data and understanding the patterns in these data to make a smarter automated task. The collection of these data is increasingly controlled by regulations and user preferences. Organizations must answer questions such as how to deliver practical compliance with data protection laws and norms when building and implementing AI technology and on the tension between AI and existing data protection legal requirements.

 

If the AI ​​service cannot provide an appropriate level of trust, this data may not be available over time. Without trust, there is no data. Without data there is no AI. As a result, organizations have both an opportunity and an obligation to develop principles, best practices and other accountability tools to encourage responsible data management practices, respect and even reinforce data protection, and remove unnecessary barriers for the future development of these innovative technologies. However, in2019, trust will be essential for success. Below are five forecasts of tensions related with data protection.

 

Trust becomes the new currency

Shakespeare wrote, “Love everyone, trust a few, do no harm to none”. Those vendors who can build long-term trust with their customers have unique added value. Very few will be able to achieve this and thereby increase their enterprise value. Trust will be given a monetary value in 2019 and we will move towards a trust-based economy.

 

Data ethics will become more important as a discipline

The foremost practical question for data ethics is whether there is anything special about data such that collecting, manipulating, and applying it requires a distinct code of ethics. On 20 November 2018, the United Kingdom founded the Center for Data Ethics and Innovation, the first public body to address the “new ethical issues arising from the rapid development of technologies such as artificial intelligence”. The way data is used today is more than just a technical phenomenon. It’s a political, social, and even mythological phenomenon that has consequences for how we organize our lives and express our values. Whatever ethical principles are developed in connection with data, they should account for dynamics that extend beyond technical limitations. Data analytics should be viewed as a phenomenon with consequences beyond technology, and the community should demand that data scientists and practitioners consider those consequences.

In 2019, data ethics as a discipline will become increasingly important in both governments and academia. Most discussions so far about AI ethics have focused on the results of the AI, not the data inputs fed by the AI. These new institutions will focus on inputs and should be taken seriously by providers as they are both a source of best practices and a pioneer for future legislation.

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Everyone will shout, “Trust me!”

‘Trust’ will stand in the slogan or marketing message of all AI and modern technology providers. Although consumers place a high value on trust and integrity, they will only find a few useful landmarks in marketing noise. “Who should I trust?” May not be so easy to answer in the blink of an eye.

 

Surprisingly, consumers will give dubious providers a second chance

Given the hurly-burly and lack of an objective, easy-to-use test of trust, consumers will not really know how to value trust and what action to take when it’s lost. As a result, consumers will not drop these providers in 2019 due to a first breach of trust, which unfortunately continues to support negative business practices. However, these second chances will gradually disappear as consumers learn to answer the question “Why should I trust you?”.

 

Often, data will disappear

This year, some providers that collect data improperly, will get caught and go through legal or/and economic consequences. Others will slip through. But in both cases, nobody will know what actually happened with his data. Many are expected to land in the black market. But on the basis of regulatory requirements of GDPR, industry will be forced to adopt sever guidelines for the use and processing of data.

 

These are all big challenges, as they occur in many technologies with disruptive potential in the early stages. But can the technology industry really talk about trust? As Albert Einstein said, “Anyone who does not take truth in small matters cannot be trusted in large ones”. In 2019, we will see the first generation of AI startups trusted by credible, sustainable, deep-rooted value and not a marketing slogan. Only then will Artificial Intelligence be able to assert itself in a sustainable way to truly change life.

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