The machine learning boom is here, and it's only going to get bigger. When the pandemic decimated workforces and limited in-person interaction, artificial intelligence tools helped companies increase productivity. Industries such as hospitality, healthcare, and energy have all benefited from recent A.I. innovations, but there's more disruption on the horizon. Instances of businesses using automated experiences are increasing, and automation is expected to grow in both the metaverse and in how companies pursue environmental, social, & governance (ESG) initiatives, according to Pranay Agrawal, co-founder and CEO of A.I. services and analytics provider Fractal.
Here are three predictions from Agrawal on some of the next big steps for A.I.
Customers will expect more from automation services.
When the pandemic hit and businesses scrambled to adapt to a digital world, automation became much more commonplace in everyday life. People became used to seamlessly talking with customer service chatbots and virtual assistants, and that familiarity has led to increased expectations from consumers.
"Over the last few years," says Agrawal, "companies like Apple and Amazon have created incredibly nifty and user-friendly products, and I think customers and society at large now expect a more fully personalized service and experience."
Examples of this more "personalized experience" include better-targeted ads, personalization of social media experiences, or customized experiences at banks, healthcare companies, and telecom companies, according to Agrawal.
As an example, take virtual assistants such as Amazon's Alexa. A common complaint with Alexa is its "by the way" suggestions, where after answering a question, the bot will ask if the user would like to engage in an unrelated task, such as buying a suggested product or asking about the air quality. Agrawal says that in the near future, it will be easier for consumers to fully customize how their A.I. assistants interact with them, without potentially annoying disruptions.
Companies will use A.I. to improve their environmental initiatives.
Companies are under more pressure than ever to prove themselves as being environmentally friendly and sustainability-focused, as investors are increasingly using environmental and social criteria to determine where to put their money. Automation can help companies boost their ESG efforts, such as by using A.I. to optimize power consumption.
Continue reading: https://www.inc.com/ben-sherry/artificial-intelligence-predictions-ai-machine-learning.html
Here are three predictions from Agrawal on some of the next big steps for A.I.
Customers will expect more from automation services.
When the pandemic hit and businesses scrambled to adapt to a digital world, automation became much more commonplace in everyday life. People became used to seamlessly talking with customer service chatbots and virtual assistants, and that familiarity has led to increased expectations from consumers.
"Over the last few years," says Agrawal, "companies like Apple and Amazon have created incredibly nifty and user-friendly products, and I think customers and society at large now expect a more fully personalized service and experience."
Examples of this more "personalized experience" include better-targeted ads, personalization of social media experiences, or customized experiences at banks, healthcare companies, and telecom companies, according to Agrawal.
As an example, take virtual assistants such as Amazon's Alexa. A common complaint with Alexa is its "by the way" suggestions, where after answering a question, the bot will ask if the user would like to engage in an unrelated task, such as buying a suggested product or asking about the air quality. Agrawal says that in the near future, it will be easier for consumers to fully customize how their A.I. assistants interact with them, without potentially annoying disruptions.
Companies will use A.I. to improve their environmental initiatives.
Companies are under more pressure than ever to prove themselves as being environmentally friendly and sustainability-focused, as investors are increasingly using environmental and social criteria to determine where to put their money. Automation can help companies boost their ESG efforts, such as by using A.I. to optimize power consumption.
Continue reading: https://www.inc.com/ben-sherry/artificial-intelligence-predictions-ai-machine-learning.html
