Today, the world has come to the point
where novel technological innovations are helping mankind improve
things we couldn't have possibly imagined before. As a matter of
fact, human work was more desirable over a machine's work in the past
because human beings were believed to be more accurate as compared to
a machine. And rightly so! Human beings could consider and evaluate
all perspectives and make an informed decision whereas a machine
simply could not. But the tables have turned, thanks to the
technologies we have at our disposal today! A Gartner report expects
that by 2020, 85 per cent of customer interactions will be managed
without human involvement. Let that sink in! Take artificial
intelligence and machine learning for example -- two cutting-edge
technologies that have demonstrated the capability to positively
transform practically everything they touch. A prime example of their
prowess is shaping customer experiences.
Though we now live in an omni channel
environment, a large number of companies still present customer
engagement paths that are drenched in legacy, leading them to feel
archaic. The reason is because organizations struggle to keep up with
this breed of new age customers who, along with their needs and
demands, are constantly evolving. But not all hope is lost because we
have artificial intelligence and machine learning to rely on.
AI and Machine Learning: Same same but
different
Nonetheless, before we delve into the
details of the potential of artificial intelligence and machine
learning, let us understand how these two phenomenon vary. Simply
put, artificial intelligence is a technology that allows a system to
exhibit human-like intellectual capacity. On the other hand, machine
learning is a subset of artificial intelligence that leverages
mathematical models based on data to make decisions. And remember,
all machine learning counts as AI, but not all AI can be considered
machine learning.
The impact of AI and ML
The scope as well as the impact of AI
and ML remains a widely debated topic across the globe. And the
progress that they have made thus far has led to fervent discussions
about their impact on mankind's future and what it really means for
us. Among the many topics currently being debated, their impact on
employment is an important talking point.
A sizeable majority of people today are
concerned about AI replacing countless jobs. Though that fear holds
some merit, it is not completely true. Experts and leaders in this
field are convinced that the emergence of new technologies will serve
as drivers of employment. For that matter, automation too is proving
to be handy as far as comparatively monotonous jobs go. It has
already revamped manual industries as well as tedious tasks that are
based on simple activities such as bookkeeping.
Besides that, AI, machine learning,
automation, etc. are enabling companies to turning in complicated
jobs to machines. For example, GE makes use of algorithms for
managerial tasks.
If still that doesn't make the case for
the impact of AI, read this: A global survey found that most
organizations started deploying AI to either improve or automate
disorganized or day-to-day processes. As a matter of fact, 66 per
cent of the organizations surveyed are making use of AI technologies
basically for business process automation -- which is considered an
excellent was to get started on the path of achieving rapid
improvements.
You can do it too!
It is not just industry titans and
global corporate who can leverage AI and ML to their benefit. Thanks
to Amazon and Google's AI Kits, the masses can get started on this
path too. While Amazon has made Alexa Skill Blueprints available for
a variety of kits, Google's kit is an engineering design kit that
will serve as a base for developers to build their own products.
In conclusion…
Numerous organizations are already benefiting from the many advantages proffered by AI and ML as they
become increasingly mainstream in business. And to ensure
competitiveness as AI increases in scale and drives further change,
organizations will do well to remember that transparency about such endeavors as well as their benefits can also lead to enhanced
effectiveness of the technologies. This, in turn, will enable
companies' leaders to identify new opportunities and deal with
possible risks before they transform into grave issues.
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