The Significance of AI
CIOREVIEW >> Artificial Intelligence >>

The Significance of AI

By CIOReview | Tuesday, March 27, 2018

One of the prevalent buzzwords currently, artificial intelligence (AI) ranks as one of the most searched topics on the internet. AI is bridging the gap between brands and customers; according to a survey, people are utilizing chatbots to communicate rather than rely on human interaction. Chatbots are not only convenient for users, but also eliminate human error. The only drawback is that the system does not solve issues that are not programmed prior. While the impact of AI in the long term is uncertain, it will create a higher number of employment opportunities contrary to popular belief. Moreover, every organization will require an AI department, which stands true as according to a Forester survey, 87 percent of CEOs are investing in the AI workforce, with the number likely to increase in the future.

There is a high likelihood that a majority of customers will interact with software robots in the next five years. Many sectors including travel, real estate, and education are transitioning to a chatbot approach, which is beneficial for both parties involved. AI enables a customer-first approach, where queries and needs are resolved very quickly and efficiently. Recent studies estimate the chatbot market to grow by 35 percent by 2022. AI is still in its nascent stage with its tremendous potential waiting to be explored; there are infinite possibilities as to what this technology can achieve.

While AI’s impact on daily life is a positive one, offering the convenience of automated intelligence, it lacks human characteristics—emotion, empathy, and understanding. AI is not meant to replace human beings but instead enhance our knowledge and experience. As we move forward, AI will develop a niche of its own just as other revolutionary technologies.

Check Out: Top Artificial Intelligence Companies In Europe