FROM HYPE TO REALITY

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40 years ago, we dreamt of AI powering robots and labour-saving devices which would automate our mundane lives.

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Today, we believe the hype cycle is not only about to burst into reality, but smarter companies have been quietly investing in AI technologies and strategies, for the last decade. Companies like Viv, Amazon and Tesla are already dominating and leading the charge with eye watering investment budgets.

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In the consumer space, we have seen AI appear in the form of Alexa, Siri, Google home etc, but this is just then start of the revolution. Bots are the new intelligent apps, which will power mundane tasks, whilst robotic processes will cause a seismic shift in repeatable tasks and messaging apps are now replacing how we communicate with machines and humans.

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These technologies (including image recognition, natural language processing, machine learning, causal reasoning, and robotics) can help businesses increase revenues, reduce costs, and mitigate risks. “Enhancing the human ability to process” is a strong statement and the stakes are enormous for the early innovators, as well as for the broader economy.

 

Artificial intelligence technologies have the potential to transform entire business models, the hype is now reality and we are about to witness the 4th industrial revolution, where early adopters are starting to see the sparkle of hope which is powering a new customer experience.

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AI is not only capable of powering our autonomous cars, but through conversational platforms we can improve customer engagement, through machine learning, we can analyse and predict large data sets which are driving consumer purchase decisions, and through robotic process automation (RPA) we can power back office task.

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The question is: How can businesses identify the opportunity and how can you take full advantage of such a fundamentally disruptive group of technologies ?