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As newer technology comes into effect it is often seen as a threat to what was ‘in vogue’ before. When the dotcom boom was happening in the late 90’s, it was often said that the print media, namely the newspapers would soon become extinct but that was not to be, and today, the two continue to coexist. The use of AI is becoming widespread across sectors from healthcare to luxury and beyond, and it is often seen as something which is here to replace human workforce. This may be true to an extent but as we march towards tech-led workspaces we need to look at AI with a broader perspective to be able to see and gain from its collaborative side. In order to integrate AI into their current framework, it is important that organizations undergo a careful and well-thought restructuring of their modus operandi. Businesses need to look at AI beyond treating it as a means to cut expenses. Sure, you will be able to optimise your workforce and cut costs, but the major gains from AI come from massive increase in overall profitability of the business, better output, as well as staying relevant with the changing times.
To make the best of big data and AI, businesses need to marry the two. Business planning, investment, and operations are often seen making use of the ability of analytics to their advantage. Application of decision-making backed by big data is incorporated at all levels of a business, which brings us to the big question of how to move ahead with the tech at hand.
Access to big data is fairly easy today along with its storage and processing. It is much in demand, and hence warrants some improvisation for faster processing and delivery. AI may not yet have full decision-making power but the data it yields can have a massive impact on how businesses operate. Thus AI shouldn’t just be seen as a way to cut expenses but as an effective means to improvise current human jobs. But it is Machine Learning which harnesses the big potential of AI by creating stronger algorithms with each new input it receives and continuously becoming more and more efficient. ML helps the AI apps in deciphering the greater scope of the existing norms, thus getting us a better hold of the issues being faced currently. For example, no matter how advanced the algorithms for customer service bots become, there will be conversations and scenarios wherein only human intervention can solve the issue at hand. AI and humans will thus continue their interdependence, even though the extent may diminish, the boundaries will not blur. A collaborative course is the way forward as we see it.
At Infinite Analytics it is our endeavor to continuously help businesses incorporate a strategy for AI that will help in reaching the right consumers along with an increase in profitability.
In case you want to know more about Integrating AI with Data, do drop in a note to us at contactus@infiniteanalytics.com
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