According to 2020’s McKinsey Global Survey on artificial intelligence (AI), in 2020, more than 50% of companies have adopted AI in at least one business unit or function, so we witness the emergence of new AI trends. Organizations apply AI tools to generate more value, increase revenue and customer loyalty. AI leading companies invest at least 20% of their earnings before interest and taxes (EBIT) in AI. This figure may increase as COVID-19 is accelerating digitization. Lockdowns resulted in a massive surge of online activity and an intensive AI adoption in business, education, administration, social interaction, etc.
This article aims to overview new and current AI trends that emerged in 2020 and are still increasing in 2021. Based on trends, companies can make projections of the AI future in 2022 and successfully mitigate risks.
AI Adoption Trends
AI adoption level differs depending on the industry. Using the data mentioned in the McKinsey Global Survey on AI, we can highlight four leading sectors: high-tech, telecom, automotive, assembly.
Companies apply AI for service operations, service or product design, advertising, and sales. Regarding investments, the area of drug discovery and development received the highest amount of money — in 2020, the total sum of assets exceeded 13.8 billion dollars, 4.5-fold higher than the year before.
AI drives the highest revenue growth if applied in inventory and parts optimization, pricing and promotion, customer-service analytics, sales, and demand forecasting. Use cases that reported cost decrease are related to optimization of talent management, contact-center automation, and warehouse automation.
Continue reading: https://www.iotforall.com/artificial-intelligence-technology-trends-that-matter-for-business
This article aims to overview new and current AI trends that emerged in 2020 and are still increasing in 2021. Based on trends, companies can make projections of the AI future in 2022 and successfully mitigate risks.
AI Adoption Trends
AI adoption level differs depending on the industry. Using the data mentioned in the McKinsey Global Survey on AI, we can highlight four leading sectors: high-tech, telecom, automotive, assembly.
Companies apply AI for service operations, service or product design, advertising, and sales. Regarding investments, the area of drug discovery and development received the highest amount of money — in 2020, the total sum of assets exceeded 13.8 billion dollars, 4.5-fold higher than the year before.
AI drives the highest revenue growth if applied in inventory and parts optimization, pricing and promotion, customer-service analytics, sales, and demand forecasting. Use cases that reported cost decrease are related to optimization of talent management, contact-center automation, and warehouse automation.
Continue reading: https://www.iotforall.com/artificial-intelligence-technology-trends-that-matter-for-business
