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 than 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! 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 omnichannel environment, a large number of companies still present customer engagement paths that are drenched in legacy, leading them to feel archaic. The reason is that 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.
Artificial Intelligence 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 phenomena 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.
The impact of Artificial Intelligence and Machine Learning
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.
A sizeable majority of people today are concerned about AI replacing countless jobs. Though that fear holds some merit, it is not completely true. Automation to 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 turn in complicated jobs into 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.
You can do it too!
It is not just industry titans and global corporates who can leverage AI and ML to their benefit. 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.
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.