Numerous experts predict that 2019 will be the year when an increasing number of organizations will bring artificial intelligence (AI) into their operations. Here are five reasons why.
1. Customer Service Chatbots Are Improving
One common kind of AI that many people already know well is the chatbot.
Research from IDC estimates that 40 percent of digital transformation initiatives will use AI in 2019, and if 2018 is any indication, much of the spending on such projects will go toward chatbots. The IDC study shows organizations spent $2.4 billion on automated customer service agents in 2018.
Aside from customer service chatbots getting smarter, people are getting more accustomed to interacting with them. Companies ranging from H&M to Sephora rely on chatbots to enhance their customer experiences.
Humans often monitor the ones used today, and those people step in to handle more complex queries. These hybrid person-machine processes will help AI thrive in 2019, analysts say.
Chatbots can always respond, even outside of business hours, and instant feedback could reduce customers’ frustrations. For those reasons and others, companies that have been holding out will likely decide that 2019 is the time to start using chatbots.
2. AI Helps Companies Understand Market Preferences
Another reason more companies will make the leap to AI in 2019 is that the technology could help them uncover insights that would otherwise remain hidden. The results of a two-year AI project equipped a Coca-Cola bottler to drive sales and reduce servicing costs by using AI to learn and make predictions about the drinks people want.
The company combined AI with a big data platform and discovered they should put more lemonade in an entertainment venue’s vending machines because the roadies who set up for shows liked that beverage. Also, the interface showed that an energy drink didn’t sell well in a hospital’s emergency room, prompting the company to stock less in the machine.
The AI platform works with the existing software in more than 19,000 machines that bottling company handles. It can even provide what-if scenarios that explore what might happen if the bottler stocks a product in a particular outlet.
3. AI Gives a Competitive Advantage
Automation experts assert it’s not enough for companies to merely use AI. They must maximize the competitive advantage received from it. Companies can do that in various ways depending on the needs of a respective industry.
Predictions from Forrester note that AI will continue to be a priority for health care organizations in 2019. Although there will be some customer-facing applications, AI will also be tasked with assessing risks and making clinical decisions. A recent study using an AI algorithm to spot cases of Alzheimer’s disease found the technology could detect the disease several years before diagnoses.
That technology is not ready for widespread release yet, but it’s not hard to imagine how it could make hospitals more competitive, especially when people have family histories of Alzheimer’s and want to be proactive. AI increases competitiveness in other ways, too. For example, some platforms predict when industrial machines will fail, letting operators replace parts before costly shutdowns happen.
4. AI Could Keep People Safer
Businesses will also feel spurred to adopt AI in 2019 when companies are involved in matters that directly impact people’s well-being. Researchers at Google and Harvard University teamed up to make an AI tool to find restaurants that could be sources of foodborne illnesses. In a pilot study, the data prompted health department inspections.
Also, optical detection systems on assembly lines “see” anomalies in products and learn if they’re defects. Then, manufacturers know about problems before product recalls occur.
Stanford University graduates launched a startup called Flood Concern that depends on AI to find the blocks in a neighborhood that are most prone to flooding, too. It gives associated warnings up to five days before storms arrive.
These are just some examples of how AI supports safety. When businesses adopt it, they could save money through strategic preparations, reduced accidents and more.
5. AI Will Assist With Hiring in 2019
A look at how people will use AI for recruitment in 2019 suggests it’ll factor into many aspects of the hiring process, including using AI for interviews. One Russian company called Stafory created a robotic recruiter called Robot Vera that uses AI to conduct about 50,000 interviews daily for the company’s clients.
Regardless of their industries, many enterprises will need to fill skills gaps in 2019. AI will help them do that faster than ever before, freeing up time for other duties.
AI Offers Abundant Advantages
This list highlights how no matter what companies want to achieve in 2019, AI can help them meet those milestones.
Once companies actively explore how to implement AI in their processes, they can make meaningful progress.