Although the ongoing pandemic has had an influence on business models, it has had little effect on the impact that AI has on our lives and enterprises.
For example, in today’s digitally-driven environment, many businesses utilize AI-powered chatbots in corporate communication, particularly for customer service and sales. In 2025, AI-powered chips are expected to generate $91,185 million in sales.
Artificial intelligence is also already a big part of our daily lives in other ways. Several AI-enabled technologies are available now that make our lives easier, like Uber, Google Assistant, Alexa, Siri, and Ola. Although the ongoing pandemic has had an influence on business models, AI’s impact on our lives and enterprises has not waned. Artificial Intelligence, with its self-teaching and learning algorithms, will continue to play a critical part in revolutionizing business.
AI’s potential has already been quickly realized by businesses. Companies like Microsoft, Amazon, and Google benefit greatly from the use of Artificial Intelligence in anticipating and adjusting to changing market conditions and creating profit. Several organizations are already reaping the rewards of their early Artificial Intelligence investments. Many companies have begun to utilize AI in order to make use of the massive amounts of data generated every day.
But how is AI affecting industries in such a revolutionary way? Let’s have a look at what we’ve got.
1. Chatbots for Improved Customer Service
Many businesses utilize AI-powered chatbots in business communication, particularly for customer service and sales. Chatbots effectively boost consumer interaction, assist in data collection, and promote business income while also lowering operational expenses. Chatbots powered by Artificial Intelligence reduce the need for human involvement and allow businesses to communicate and interact with customers outside of office hours. This reduces the demand for floor space as well as traditional customer service equipment. E-commerce transactions using chatbots are expected to climb to $112 billion by 2023, according to Juniper Research.
2. Chips With Artificial Intelligence To Boost Performance
Object detection, face recognition, computer vision, and naturallLanguage processing applications that use AI algorithms will run significantly quicker on AI-powered CPUs. These chips help applications in the gaming, finance, banking, healthcare, and manufacturing industries function better.
Qualcomm recently announced the Snapdragon 732G, an AI-enabled smartphone processor designed to improve high-end mobile gaming performance. The AI-powered BMW factory in Germany is another well-known example of AI use in a commercial, industrial setting. In milliseconds, the auto plant employs AI-based software to inspect vehicle parts and do a comprehensive examination. In 2025, AI-powered chips are expected to generate $91,185 million in sales.
3. For Startups to Survive, Data Highways are Evolving
In today’s digitally-driven society, data is the new currency. With each passing day, the amount of data increases by leaps and bounds. It has become critical for startups to use innovative analytics and AI to create dynamic business models in order to stay ahead in the competitive business environment. Start-ups will benefit from AI-based tools and solutions for data mining, business data analysis, and predictive analytics to identify strategic marketing based on customer insights.
4. Cybersecurity and Artificial Intelligence
Cyberattacks are dramatically on the rise as data has become more accessible. Therefore, companies are putting more money into strengthening their cybersecurity infrastructure. AI will play a critical role in facilitating cybersecurity in organizations thanks to its powerful and predictive algorithms. Companies will be able to cut the time it takes to respond to threats as well as the cost of avoiding breaches by implementing AI into cybersecurity. By boosting the organization’s cybersecurity procedures, AI will also aid in the prevention of cybercrime.
5. Voice-Based Searches are Becoming More Popular
Voice-based searches are some of the most prevalent AI-powered applications in our daily lives. Voice-based AI programs like Google Assistant, Apple’s Siri, and Amazon’s Alexa are raising the bar for how consumers search the internet. People will utilize voice instructions more frequently in the future rather than typing them.
Artificial Intelligence innovations, with their enormous potential, are already revolutionizing businesses. They are doing this by increasing production, increasing labor efficiency, and increasing profitability. Furthermore, they will continue to do so in the future. AI-powered apps and services are available in a variety of industries, including IT, banking, retail, healthcare, and e-Commerce.