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The Impact of AI on the Job Market

As improvements in artificial intelligence (AI) hold to surge forward, there’s a developing challenge approximately the effect it’ll have on the job marketplace. AI has the capability to automate many responsibilities which can be presently carried out by humans, and this automation may want to result in big modifications withinside the workforce. While a few humans argue that AI will create new jobs and improve monetary increase, others consider it’ll result in large job loss and improved inequality.

One of the important thing regions in which AI is possible to have a big effect is in production and other blue-collar industries. Already, we`re seeing robots and different types of AI getting used to carrying out responsibilities inclusive of welding, assembly line work, or even logistics. This automation is permitting corporations to enhance efficiency, lessen costs, and boom productivity. However, it is also ensuing in job loss for employees who had been formerly hired in those roles.

The white-collar jobs are not proof of the disruption, as well. With the improvement of superior natural language processing, AI-powered chatbots and digital assistants are increasingly getting used to deal with customer support and different comparable duties, even as in finance and accounting, AI set of rules are getting used to automate information access and analysis, which was once completed via way of means of human.

The rise of AI is likewise possible to have a profound effect on the job marketplace withinside the coming years. As AI structures grow to be extra superior and might carry out responsibilities that had formerly the idea to require human intelligence, there’s a chance that many roles turn redundant. Some estimates propose that as many as 47% of jobs withinside the US can be prone to automation withinside the subsequent decades. This consists of jobs in industries inclusive of transportation, retail, and healthcare.

Of course, it is now no longer all doom and gloom. While there is no denying that AI will displace a few jobs, it is also anticipated to create new possibilities. The subject of AI itself is one place in which task increase is anticipated, as corporations will want professional specialists to develop, test, and preserve those structures. Additionally, the growing use of AI in diverse industries is likewise possible to result in the introduction of the latest roles in regions inclusive of statistics analysis, moral regulation, and human-AI interplay design.

However, the query of task displacement isn’t a brand new one, and it is vital to consider that it is now no longer the era itself that is inflicting the problem, but instead the manner in wherein it is being implemented. It’s additionally essential to be aware that the roles which can be maximum prone to automation are the ones that can be repetitive and predictable, even as the roles which can be much less possibly to be automatic are people who require creativity, problem-solving, and social interplay.

In conclusion, the effect of AI in the job marketplace is a complicated difficulty with each fine and a poor aspect. While it is real that the automation of positive responsibilities will displace a few jobs, it is also real that AI can create new possibilities and improve monetary increase. The secret’s for policymakers and commercial enterprise leaders to work collectively to make certain that the advantages of AI are shared extensively and that employees are supplied with the abilities and resources they want to conform to the changing job market. With the proper approach, we can harness the energy of AI to create a greater rich future for everyone.

Artificial Intelligence

AI and Machine Learning professionals – Exploring Global Opportunities

Discover the best opportunities to maximize your earning potential in the United States, Canada, the UK, and Germany.

A positive development for AI professionals is that countries and businesses are competing for the best talent.

As artificial intelligence and machine learning industries grow at a mind-boggling rate, the demand for qualified IT experts is increasing rapidly.

Supply, however, lags far behind demand. The AI market needs people to fill millions of roles, but only 300,000 researchers and practitioners exist worldwide, according to a report by Chinese tech giant Tencent.

This assertion has been backed up by LinkedIn researchers, who report that machine learning engineers are the most sought-after position in the industry, with demand increasing by about 1000% in the last year.

On a global level, artificial intelligence and machine learning are major challenges. Capgemini’s global study found that 55% of organizations recognized not only that there was a wide gap, but that it was also getting wider. The US corporation recognizes the skill gap 70% of the time, compared to 64% of companies in India, 57% of companies in the UK, 55% of companies in Germany, and 52% of companies in France.

There has been a lack of AI engineers to hire even in the largest and most well-known tech corporations.

Due to a rise in demand, salary levels have soared absurdly. Based on The New York Times’ analysis of the AI sector, the very best can sometimes earn millions of dollars with only a few years’ of experience. In the world, only 10,000 people possess the necessary skills to lead significant AI initiatives, according to an independent AI lab.

Therefore, if you are an AI expert, you should exercise discretion now. Choosing where to live, working for what company, and how much you will receive is all up to you.

The following nations are in dire need of talented Artificial Intelligence and Machine Learning practitioners:

The Unite States

AI professionals in the United States can find a variety of opportunities in the tech-driven world of today. AI professionals are in high demand and the demand is expected to continue to grow as businesses increasingly rely on AI solutions. AI professionals can find job opportunities in a wide range of industries such as finance, healthcare, retail, manufacturing, and more.

In the US, most AI specialists possess a bachelor’s degree in computer programming, engineering, or a closely similar subject. Some employers may also require experience in programming, data science, or machine learning. AI professionals can pursue certifications or specialized degrees in AI to demonstrate their expertise.

AI professionals in the United States can earn a competitive salary. The median salary for AI professionals in the United States is $105,000, according to Indeed.com. Salary varies according on geography, job title, and experience. Professionals in AI with experience can make considerably more money, with some making six figures.

In addition to salaries, AI professionals in the United States can receive benefits such as 401(k) plans, health insurance, and vacation time. AI professionals can also find opportunities to advance their careers by taking on more responsibility or pursuing additional training or certifications.

Europe

Digital capabilities, particularly AI and machine learning, are lacking in every nation in Europe. Berlin, London, Paris, Eindhoven, Amsterdam, and Stockholm are all major European IT hubs where AI specialists can find jobs.

In a Dispatches Europe article last November, the absence of digital experts in Europe’s industries was highlighted as the top shortage of talent in the region. Sweden had the greatest lack of technology expertise among the 33 highly developed economies.

The highest-paying high-tech positions in Europe are:

  • Game Developer
  • Artificial intelligence and deep machine learning
  • Blockchain/fintech
  • Cloud security/encryption
  • Robotics

A shortage of qualified specialists in the EU forces European nations to hire experts from outside the bloc to fill the positions. Members of the EU compete fiercely not only with each other, but also with other leading economies.

As a result of a growing economy and aging population, Finland, a neighbor of Sweden, plans to need 15,000 software engineers by 2020.

In addition to the UK, Finland was the first EU nation to adopt a national AI policy, providing government support and a legal framework for digital enterprises.

Digital professionals from India, China, Russia, and the United States are actively being sought after to bridge the skills gap in Finland’s digital game business.

Germany

German companies are likely to face a 3-million-person skilled worker shortfall by 2030, with a sizable portion of them being IT specialists, according to a new study by the consulting company Prognos AG.

Artificial intelligence poses no threat to German tech companies. Experts believe that artificial intelligence developments might allow companies to replace even mid-level staff with artificial intelligence, even if they are able to replace experienced individuals.

AI and machine learning technology cannot be developed and adopted due to a shortage of skilled workers, according to their concern. It is estimated that almost half of businesses are not able to make innovation-related investments due to the difficulty of recruiting qualified employees.

Over 60,000 highly skilled workers have come to Germany since 2012 as a result of the EU’s Blue Card program.

It would be necessary to increase immigration significantly to compensate for a lack of competent workers. In the near future, it is unlikely to come from the domestic labor force. AI, machine learning, and information technology aren’t the most popular jobs among young Germans; they rank fifth behind office administration and vehicle mechanics.

The United Kingdome

UK employers have nearly tripled their need for AI capabilities over the last three years, according to employment site Indeed. The demand for data scientists in the AI sector is increasing as businesses try to leverage the data they’ve collected over the years.

A typical UK income is significantly lower than that of AI and machine learning positions. The average annual salary for listed AI positions is £60,000, with 10% of the highest-paid jobs paying an average of £105,500.

There are a large number of AI jobs available on Indeed, many of which have salaries over £70.000. Depending on the contract, some contracts may cost up to £700 every day.

In high-level positions, the majority of salaries are competitive, so you can apply to several companies and negotiate the best salary with them.

China

Machine learning and AI professionals will find China to be an exciting market. Artificial intelligence development has exploded in the country, and skilled professionals are in high demand. In China, AI and machine learning professionals are paid competitive salaries compared to their counterparts in other countries. A Chinese AI and machine learning professional earns an average salary of $20,000 to $40,000.

Qualifications and experience determine salaries. The average annual salary for an experienced professional is $50,000. Professionals in AI and machine learning have a variety of employment options in China. A number of companies are actively hiring for AI and machine learning positions, including Baidu, Tencent, and Huawei. There are also other companies hiring for AI and machine learning positions, including JD.com, and ByteDance. Chinese start-ups are also seeking AI and machine learning professionals in addition to traditional companies. It is also possible to be a part of a rapidly growing and innovative team at these start-ups in addition to receiving competitive salaries. AI is also heavily invested in by the Chinese government, and the possibility of AI and mac are endless.

Canada

Developing Artificial Intelligence is one of Canada’s top priorities. AI ethics, policies, and legal ramifications, as well as science related to AI, are heavily invested in by the nation. Across Canada, AI-related jobs have increased by 1,069% since 2013, according to Indeed Canada.

DevOps engineer, full stack developer, and machine learning engineer were the most sought-after jobs.

The annual salary for specialists with some experience ranges from $70,00 to $90,000. Advertised incomes for individuals with more than five years’ experience can reach $130,000 and beyond.

Artificial intelligence positions average $85,978 per year, or $44 per hour. The median wage in this country is approximately 2.6 times higher than this. Entry-level roles start at $60,000. Experts earn up to $120,000, while seasoned experts earn up to $200,000.

An Indeed Canada search reveals that most senior positions do not include predetermined salaries but are accompanied by “competitive” pay packages, giving job seekers the opportunity to negotiate.

There are a number of organizations actively seeking candidates with AI skills in Canada, including the Royal Bank of Canada, Capital One, IBM, Huawei, Scotiabank, KPMG, TD Bank, Loyalty One, and Amazon.

Moving to Canada has become increasingly attractive to AI and machine learning professionals due to its booming tech industry, its highly regarded universities, and its Express Entry System.

In addition, some of the most cutting-edge and inventive technological startups in the world are located in Canada. Moving to Canada has numerous advantages and opportunities for AI and machine learning professionals to pursue careers in their fields. Finally, Canada is known for its passion for innovation and its commitment to promoting a culture of inclusivity, making it an attractive destination for AI and machine learning professionals.

India

Several of the most interesting applications of artificial intelligence in industries ranging from farming to healthcare are being tested in India according to a LinkedIn report on the future of the digital workforce. With the nation moving toward becoming a “Digital India,” the IT sector will require 50% more digitally proficient workers.

According to Kelly OCG India, experts in AI and machine learning would be in great demand this year. There is a special demand for (and a scarcity of) Ph.D. candidates in fields relating to artificial intelligence.

Due to of lack local people who are knowledgeable about user interfaces and user experiences (UI/UX), artificial intelligence, and machine learning. According to the data, deep learning is a hot field with a qualified professional ratio of 0.53, and machine learning is a hot field with a qualified professional ratio of 0.63.

In India, the average salary for AI experts rises with experience: for those with 2-4 years of experience, the salary ranges from Rs 15 to Rs 20 lacs ($ 22,000 to $29,000), Rs 20 to Rs 50 lacs ($ 73,000 to 147,000), and Rs 50 to Rs 1 crore ($ 73,000 to 147,000).

Artificial Intelligence

Data Analytics To AI Implementation: How To Build A Great Team

The booming industry of Information Technology has made it possible for data analytics and AI to work together. Many successful businesses use data analytics and AI to build stronger teams in the workplace. A great team can increase employee performance, encourage innovation and bring many benefits to a company’s future. To begin with, let’s take a look at Data Analytics and Artificial Intelligence before moving on to how to build a great team with the same.

Data Analytics and AI

Data Analytics is the science of analysing raw data to make conclusions about that information. Many data analytics techniques and processes have been automated into mechanical methods and algorithms that work over raw data for human consumption.

Data analytics help a business optimise its performance, perform more efficiently, maximise profit, or make more strategically-guided decisions. Data analytics relies on various software tools ranging from spreadsheets, data visualisation, reporting tools, data mining programs, or open-source languages for the most significant data manipulation.

Whereas AI Implementation incorporates AI technology into a company to improve its performance. AI tremendously benefits companies, improving efficiency and accuracy in many different areas. Implementing AI can help a company to keep up with the competition and continue growing.

AI Implementation In Data Analytics

Artificial intelligence (AI) is growing rapidly by intriguing and fascinating people with its benefits. Analysing data is made easier, more accessible, and more automated by using AI. It is employed in various industries and businesses to aid in repetitive processes. Companies use AI analytics to make better decisions about their business. AI technology has vast applications, including data analysis, decision-making and information dissemination. A few of the ways AI can contribute to analytics:

  • Help report generation and makes data easy to understand.
  • Streamlines processes, allowing for insights to be generated faster.
  • Analyses data using machine learning algorithms.
  • Predict future outcomes and reveal trends and patterns.
  • AI eliminates errors and offers a greater level of accuracy.

No matter how AI is implemented in Data Analytics, it is sure to bring benefits to any company that incorporates it into its operations. If your company is looking for a way to stay ahead of the competition, implementing AI is something to consider. To become proficient in AI, you must also have coding skills. You can nurture coding skills from a young age. The benefits of Coding for kids are innumerable. Remember, it’s never too early to start learning new skills.

From Data Analytics to AI Implementation: Building a Great Team

An organisation needs the right data analytics and AI talent at the right time in the right place to take advantage. So how do you go about building a great data analytics or AI team? Here are a few tips:

  1. Hire people with the proper skill set
  2. Create a culture of collaboration
  3. Foster a learning environment.
  4. Set clear goals
  5. Encourage collaboration
  6. Help team members stay motivated.
  7. Be open to change.
  1. Hire people with the proper skill set

This seems obvious, but it’s worth reiterating. When hiring for your data analytics or AI team, look for candidates with the necessary technical skills. But also keep an eye out for soft skills like problem-solving, critical thinking, and creativity.

  • Create a culture of collaboration

Data analytics and AI are team-based disciplines, so creating a culture of collaboration within your team is essential. Encourage open communication and ensure everyone feels like they can contribute to the collective goal.

  • Foster a learning environment.

Data analytics and AI are constantly evolving, so creating an environment where learning is encouraged is essential. Fostering a learning environment means investing in training and development opportunities for your team or simply creating a space where people feel comfortable sharing new ideas.

  • Set clear goals

Data analytics and AI can be used for various purposes, so it’s essential to set clear goals for your team from the outset. What exactly do you want to achieve with these technologies? Once you have a good understanding of your goals, you can start to put together a plan for how to achieve them best.

  • Encourage collaboration

Data analytics and AI are complex topics, so it’s important to encourage cooperation between team members. This could mean setting up regular brainstorming sessions or ensuring everyone feels comfortable sharing their ideas.

  • Help team members stay motivated.

Data analytics and AI can be challenging, so it’s important to help team members remain motivated throughout the process. This could mean providing regular feedback or offering incentives for meeting milestones.

  • Be open to change

Data analytics and AI are constantly changing, so it’s essential to be available to change. This means being willing to experiment with new methods and technologies. Data analytics and AI are constantly evolving, so it’s essential to be available to change. Being open to these changes means adapting to new technologies and processes as they become available. It also means being willing to learn new skills and techniques. By being open to change, you can ensure that you and your team remain at the forefront of these rapidly changing fields.

Wrapping Up

Artificial intelligence and data analytics have become more widespread. They are applied to numerous business operations, both big and small. Since AI and Data analytics plays a significant part in the growth of any business, it has become a necessity to build a team capable of handling them. Data analytics and AI can be challenging, but by following these tips, you can make a great team capable of meeting any challenge. With the right team in place, you can achieve success with data analytics and AI.

Artificial Intelligence

How AI is Transforming The Manufacturing Industry

“AI is in a ‘golden age’ and it is correctly solving the problems that were once the realm of sci-fi”

  • Jeff Bezos

Can you think of any industry that is currently not investing or is already using AI? No, right? We neither. In the contemporary world, businesses have realized the benefit of AI and it is spreading in every industry like a wildfire. In fact, if we take a look at the statistics, the number of businesses utilizing artificial intelligence experienced a fascinating growth of 270% since 2015.

While all industries have incredible benefits to reap from AI, the manufacturing sector has its unique share of AI-driven advantages. Today, AI is significantly making its space in the manufacturing industry making the industry more scalable than ever before. To substantiate, the market size of AI in the manufacturing industry is anticipated to be USD 16.3 billion by 2027.

Looking at the future predictions, it is safe to say that AI is leading the industrial revolution 4.0 and it is revolutionizing every aspect of manufacturing. So, let us dive right into the blog and understand how exactly artificial intelligence is transforming the manufacturing industry for good. 

5 Effective Ways AI Will Change The Manufacturing Industry

  1. Enhanced popularization of Chatbots

Right from Alexa and Siri now almost every business has its own virtual assistant that is helping it in enhancing its efficiency of performance. Although chatbots are majorly known for providing extraordinary customer service, it has also done some exceptional miracles in the manufacturing industry.

AI chatbots have the efficiency to scan large inventories and find the desired products in a fraction of seconds. This will not only save the time of humans to find the products manually but can also enhance the overall speed of the processes.

Along with this, there are some hazardous tasks that are often performed by humans in the manufacturing industry, and many humans often face accidents and injuries while completing the tasks.

That being the scenario, AI is taking up the charge for performing these tasks more efficiently. Now dangerous tasks can be performed by the AI chatbots which will assist in saving the lives of humans.

  1. Effective quality assurance

It is no hidden fact that quality assurance is the main facet that determines the success of every manufacturing unit. This implies that no matter how much money you spend on the manufacturing units if the quality of your products is low, you will never be able to sustain yourself in the competitive market. 

Hence, it is really essential that your quality assurance should be up to the mark to gain competitive advantages over your competitors. Besides, thanks to artificial intelligence, you can enhance your quality check in the most efficient way possible.

To elaborate, it can take the charge of assuring the quality of your products during the production cycle or after the whole slots have been produced. AI with its efficient performance can detect the defective pieces and take them out so that only high-quality products can be passed on to the clients.

  1. Management of Supply Chain and Inventory

AI along with its different branches such as machine learning has the ability to analyze the inventory in a fraction of minutes and can generate some strong insights. These insights can assist you in restocking and status of multiple supplies available in the inventory.

These insights can assist in identifying the key strengths that are boosting and the weaknesses that are decreasing the efficiency of your inventory. After analyzing you can eventually boost up your strengths and eliminate your weaknesses to make your inventory management more efficient. This way, identification of the factors will assist in contributing to the self-improvement of the manufacturing processes.

Along with this, AI chatbots can also analyze the status of supplies and can solve complex queries such as how many items can be produced from raw materials supplies and so on.

Moreover, AI also has the ability to predict the future trends and demands of the public. Manufacturing units can manage their supply chain and inventory based on these predictive analyses. This will not only save you the damage of wasting resources but will also enhance the overall revenue of the company.

To substantiate, as per the report, AI can improve forecasting accuracy in manufacturing by 10-20%, which translates to a 5% reduction in inventory costs and a 2-3% increase in revenues.

These kinds of prior pieces of information will assist you in maintaining your supply chain and inventory will also assist in predicting the production time and delays. Furthermore, AI can also automate various processes in the inventory that can assist in enhancing the overall efficiency of the supply chain and inventory management.

  1. Minimization of operational costs

We all are very well aware of the fact that how those unpredicted machine downtimes can impact the cost of overall production and can cause losses to the company. However, AI can intangibly analyze the signs of failures prior to humans and indicate possible failures.

These indications can assist manufacturing companies in collecting information on prior bases. This can assist manufacturing units in making more informed decisions about the replacement or maintenance of the manufacturing units.

Along with this, it will also assist in saving up the cost that might go into the unnoticed damage. Moreover, AI can also accelerate the production cycle and enhance the overall efficiency of the production unit.

You can take help from various manufacturing KPIs to measure the overall performance and growth of the manufacturing unit after implementing the AI of business operations. 

  1. Assistance in product development

A product of a business reflects its efficiency, reliability, and reputation in the market. Till now we have discovered the fact that every process involved in the manufacturing industry is transformed by the introduction of AI and so is the case of product development.

From the front-end design of the prototype to the final production of the product, AI can assist speeding up the process and making the product a better version of itself. For instance, UI and UX designers can take assistance from AI in order to create the design as per the requirements of the audience.

Furthermore, AI-based interactions and previous history can assist the audience in enhancing the efficiency of the final product. This way AI will be able to transform the product development process.

To conclude, it is no hidden fact that AI is making its space in every industry and almost every industry is availing the benefits of AI. Moreover, the above-given description clearly explains that if AI continues to make more space in the manufacturing industry then it will completely revolutionize the whole face of the manufacturing industry in the coming future.

Artificial Intelligence

5 Effective Ways AI Will Change Your Business Forever

Who would have thought 10 years back that humans would actually be able to set reminders, book travel tickets, and get updated about the weather just by using their voices?  This is how exactly without even our realization, AI became an integral part of our lives.

Not only AI has transformed the personal lives of humans but it also brought a wave of evolution to the business world. This is the reason businesses are actively investing in artificial intelligence. In fact, as per statistics, nine out of ten growing businesses have ongoing investments in AI technologies.

Moreover, by the end of 2027, the market value of AI will be approximately $267 billion. Hence, it is really clear that AI’s future is really bright and it will only grow in the coming times. Hence, it is essential for you to know how exactly AI has the capability to change your business forever.

Thoroughly understanding the benefits of AI can assist you in making an informed decision on deciding whether to adopt AI or not.  To assist you with the same, let’s dive right into the blog and effectively understand what benefits AI can bring along that will transform your business forever.

5 Effective Benefits of AI That Will Transform Your Business

  1. Extracts Strong Insights

Today every business is sustained on the informed decisions they make based on the insights driven from the collected data of the internal and external environment of the company. However, as Jay Baer correctly quoted, “We are surrounded by data, but starved for insights.”

This implies that data only is not enough, you need data-driven insights that can assist you in gaining a competitive advantage. That being the case, AI-based tools, and software can assist you in extracting insights based on your internal and external data of the company.

These insights can be assisted in enhancing the efficiency of your supply chain, customer service, digital marketing, and whatnot. Hence, this way you can also enhance the growth and profitability of your business by effectively implementing AI-based tools and software.

  1. Offers virtual assistance

We are all already very big fans of Alexa and Siri. These virtual assistants became an irreplaceable part of our lives.  In fact, as per statistics, digital assistant usage worldwide is expected to double to 8.4 billion by 2024. These virtual assistants are not only limited to personal homes, it has assisted many businesses in enhancing overall efficiency.

To elaborate, some of the effective benefits of AI based virtual assistance are mentioned below

  • Enhanced productivity – Virtual assistants never get tired and this is one of the crucial factors that contributes to enhanced productivity of the businesses. This enhanced productivity can enhance the efficiency of your business which can result in increased revenue for your company.
  • Increased lead generation  – Leads are the halfway confirmation of possible sales. AI based virtual assistants have the capability to generate leads for your business which can possibly result in enhancing your clientele base.  
  • Identify the right team – It is no hidden fact that finding the right candidate from the talent pool is not a piece of cake. To help you with this, AI softwares can actually scan and shunt out the compatible candidates matching the vacant profile which will assist you in making your recruitment process easier.

This is the reason studies showed that 99% of Fortune 500 companies had AI tools somewhere within their hiring plans. These AI tools will assist in identifying the right team which can assist in taking your business to the next level.

By hitting the bottom line, benefits of AI based virtual assistants clears that their implementation will only bring profits for your company. So what are you waiting for?

3.Automation of repetitive tasks

One of the biggest and most common advantages of artificial intelligence that almost every business avails is that it automates repetitive and mundane tasks that are often performed by employees manually.

However, did you know as per statistics, 90% of employees feel burdened by repetitive tasks?  These tasks not only impact their overall productivity and efficiency, but can also result in their disengagement. On the other hand, if you implement AI based software in your company, it will assist in boosting productivity and efficiency of your employees by automating their repetitive tasks. It will assist in saving them time and will also boost the employee engagement rate of your company.

Along with boosting the productivity and efficiency of employees, automation of AI can also assist in saving costs  of business operations. To elaborate, when tasks will be automated, you do not have to pay your employees for performing them manually. This will assist you in saving extra costs. To validate, research showed that many industries who implemented AI to automate core business processes have seen a cost reduction of 20%.

4.Smoothens business operations

As discussed above, AI enhances the productivity of your business and your employees. This enhanced efficiency contributes to smoothen the overall business operations.Along with this, we all know that humans are prone to make mistakes. However, this is not the case in machines.

Hence, AI will reduce the possibilities of making errors  which will contribute to smooth operations of your business. This smooth operation will benefit your business in the long run in terms of profitability.

Along with this, AI’s machine learning capabilities can also assist in predicting the future trends. Based on these insights, you can effectively understand the needs and demands of your target audience. Hence, your business can improve the development of  products and can make improvisations based on these trends.

5.Increases customer satisfaction

We all are very well aware of the fact that customers of any business are its biggest competitive advantage. Hence, it is really essential to keep your customers satisfied in order to sustain in the modern competitive environment. To attain this to full potential, AI can be your one step solution.

To elaborate, AI based chatbots has the ability to solve the queries of customers on their own and can be available for them 24*7. This will assist in solving the queries of the customers instantly which can contribute in enhancing the customer satisfaction with your brand.

Along with this, AI can also personalize the recommendation and suggestions for your target audience vision your website or applications. This can assist in pitching the right products to the targeted customers which can enhance the possibility of influencing their purchase decisions. And we all know that satisfied customers means successful attainment of SMART goals.

Moreover, in the modern world, people like to see personalized recommendations. In fact as per studies, 66% of the consumers claimed that they will not purchase from the brands that do not offer personalized recommendations. Hence, it is another valid point why you need to invest in AI today.

To encapsulate, whether we like it or not, artificial intelligence has successfully made its place in almost every industry. Hence, it is crucial to understand how AI can transform your business. That being the case, the above-given points will assist you in convincing that if you are not already using AI, your business needs the implementation of this technology today.

Author Bio:

Jessica Robinson loves to write interesting and knowledgeable blogs regarding business management, education and life to satiate the curiosity of her lovely readers. Currently, she is serving as a content manager at the ‘Speaking Polymath’. Every piece of content that she writes demonstrates her immense love and passion for her profession.