Despite the ups and downs and the trials and errors of artificial intelligence in business , the technology continues to grow and is, in fact, succeeding in its attempts to integrate into the business market.
Digital assistants and artificial intelligence in business are rapidly rising as new technologies are formed to meet the productivity demands and service demands of both business and consumer.
In the last five years, the Internet of Things has moved from hobby to complete integration into the business world.
We are witnessing the development of artificial technologies in everyday business applications from planning and marketing to financial services and health.
Most of us have become familiar with the use of artificial intelligence in home appliances and entertainment technology.
But in 2018, expect to see Alexa integrated into your car, full voice control of your home and most notably, an explosion of business applications and services operated by smart tech intelligence.
In-House AI for Business
The thought of having your own, personal virtual assistant is highly appealing to busy entrepreneurs and while the technology has a long way to go the concept of artificial intelligence in our virtual assistant workforce or even replacement for that workforce, is the big thing to watch in tech this year.
The announcement by AWS of its plans to integrate Alexa more fully into business has further elevated people’s expectations for AI applications in business.
Alexis a business allows employers and employees to voice-enable their entire office. The server suite includes the ability to enrol or ad staff and assigns skill at scale.
Users will be able to setup and share Alexa for business throughout the workplace. They will be able to activate it services within its conference centers and communications centers through its AWS Management Console.
Alexa for business will enable you to initiate conferencing comma schedule meetings comma automate appointments and cancel events.
The key to office technology is integration. Alexa for example and to integrate with Microsoft Office 365 Google G Suite, Salesforce, Zoom, Polycom and more.
Virtual AI Assistants
With the demand for an ever-increasing supply of information, consumer orientated Technologies such as chatbots are becoming mainstream. Business Insider reports that by the year 2020 we will see around 85% of our customer support being delivered by chatbot and artificial intelligence technology.
This technology goes beyond the e-commerce sector. The unveiling of the Nami Assistant at the 2018 iFX EXPO in Hong Kong was one indicator of the direction and scope that AI will have in the business world beyond e-Commerce over the next 3-5 years.
Nami Assistant is an AI application that allows traders and investors to interact with financial markets to automate investment and become more cognizant of financial risks, as well as acquiring up-to-the-minute information regarding financial markets.
Other examples include X.ai who’s virtual assistant technology, called “Amy”, can be used to respond to meeting requests as well as other business related scheduling and planning. The technology is capable of integrating so smoothly into the conversation that you’re not even aware that Amy is a chatbot.
And you can talk to your customers, respond to enquiries and initiate any number of support resolutions.
Manufacturing and Industry
The use of artificial intelligence is a particular interest to those in manufacturing, mechanics and industry. The ability to sensor and predict production plant maintenance and digitize the manufacturing process represents a huge benefit to the industry.
General Electric, as one example, is developing technology that will predict the need for repair and maintenance of its plant equipment and via artificial intelligence monitor plant production.
General Electric’s Predix operating system can monitor and track the historical performance of its equipment and manage big data in relation to its commercial vehicles and production plant.
The ability to predict when performance will change or equipment presents an enormous potential for cost savings to manufacturing and industry.
Its ability to handle big data means it can not only provide insights into the current state of its production and equipment but potentially foresee issues down the track. These issues go beyond plant and equipment management and can include safety issues, resource management and inventory as well.
Another example would be the use of artificial intelligence in aviation. AI is being utilized in prognostics to allow airline engineers to monitor and maintain onboard equipment such as landing gear.
This predictive nature of artificial intelligence provides all kinds of opportunities for business. The predictive elements in AI are enabling industry to analyst and diagnose onboard technology related to engines in planes, breaks and pistons in cars or navigation and digital equipment in maritime and military environments.
Not only Katniss reduced downtime and associated costs but can also lead to improving overall performance.
The Artificial Intelligence industry is an aggressive industry. It is highly competitive, and business who adapt early are likely to reap the benefits long-term.
2018 looks is set to be a big year in automation and artificial intelligence, and its uses will only be limited by our imagination.
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