Artificial Intelligence is quite the buzzword these days, and never has there been this much hype about an advancement in innovation except maybe, when electricity was discovered. AI has changed the way we live and work, with advancements like Machine Learning and RPA helping organizations automate redundant and repetitive tasks to boost productivity and efficiency. Automation is the most important benefit that companies are deriving from AI and ML today. The next being predictive analytics.
Machine Learning algorithms can extract insightful information from data silos, and find patterns to predict scenarios. This helps organizations shed detrimental processes and operations and take proactive corrective measures early. For example, if a pharma company can get predictive data on which physicians are going to show a decline in prescribing their drug, they can take action to encourage and influence these physicians even before this decline begins. This could be a game changer for companies.
In this article, we cover 5 direct impacts of AI and ML, and these are something you need to consider for our organization today.
1. Voice Recognition is Taking Over Searches
According to Statista, 3.25 billion digital voice assistants are in use worldwide in 2019. According to a research article by 99firms, 31% of smartphone users worldwide use voice tech at least once a week. Their research also claims that 50% of all online searches will be voice-based by 2020, and that 30% of all web browsing sessions will be done without a screen (through virtual assistants like Alexa) by 2020. These insights are staggering, and seem possible. What does this mean for your company?
It may be time to design your product or service content around voice based searches. This is going to especially manifest itself when you’re performing Search Engine Optimization (SEO) for you website or app. Let’s take an example. Imagine you’re a UX designer in Bangalore. A prospective client will tend to search ‘UX Designers in Bangalore’ when typing, but when using a voice assistant, they might ask ‘What UX design agencies are top rated in Bangalore?’ You see the difference between a typed search and a voice search?
When performing voice searches, individuals have more time and patience (because the effort is takes to speak is less than what it takes to type) and tend to frame longer worded searches. you need to optimize your content for these keywords when targeting search based prospects.
2. Automation is the Term of the Hour
Redundant and repetitive tasks eat up of a lot of productive time and effort, and until automation was invented, could not be avoided. According to an article by instapage, advertising automation can save businesses $130,000 a year in costs. Google ads, for example, have intelligent automation algorithms that let you run search ads on autopilot. The same research article also claims that by 2022, 80% of all advertising processes will be automated.
Automation processes like RPA take over processes and tasks that can be run by AI. These tasks tend to be accomplished much faster, with 0 errors, thus boosting productivity. tasks like document collection and verification are simple examples where RPA can make a huge difference.
3. Improved Cyber Security Through Artificial Intelligence
Cyber Security has been an important topic since the internet was invented. The need for a completely secure cyber world is more important today than it ever was, because of the amount of sensitive information that flows around the internet. Unwittingly, the growth of the internet is itself opening vulnerabilities for attacks. A report by Lastline stated that IoT-based cyber attacks increased by 600% in 2017 alone.
AI and machine Learning are being implemented to improve cyber security by way of proactive threat detection and handling. Banks, for example, use ML for fraud detection, to track incoherent patterns in consumer transactions. AI can be implemented to detect and mitigate threat early, respond to vulnerabilities faster, etc.
So there you have it, 3 forms of AI and ML that you can (and must) implement into your organization today. Of course, these are major technical challenges that you might not be equipped to implement. Fortunately, tech solutions like Getafix Technologies (that’s us, duh) come to your rescue. Drop us a message with your needs and we’ll get back to you with a solution (at least the first draft).