As Enterprises are considering to realigning their strategies to maintain their market position, cutting-edge technologies like Artificial Intelligence, IoT, and robotics can give more advantages. Businesses embracing the new-age exponential technologies earlier have a better possibility of staying ahead of the curve and competition. With its potential to enhance the abilities of humans and aid businesses to enhance productivity, AI has the potential to transform businesses across industries and sector.
In the fourth industrial revolution, AI and automation are the new norms for today’s enterprise. It is no longer enough to just employ AI; it is about ensuring that AI is successfully incorporated across all business platforms. Businesses should consider creating a robust AI strategy to imbibe this emerging technology in the way they operate. Forrester revealed that by 2021, 40 insight-driven companies are going to seize USD 1.8 trillion. The role of Artificial Intelligence in the near future would be to enhance human potential and allow them to do more strategic tasks. For instance, AI is acting as an invisible hand in revolutionizing the healthcare sector. AI-powered cancer radiology platforms are aiding radiologists and surgeons to precisely and rapidly diagnose and size the cancerous tissue to help plan personalized treatment. This is anticipated to not only radically augment the outcome of the small community of dedicated radiologists but also advance clinical results of treatment and shrink patient mortality.
The major area where AI is seen making its presence felt is in automating previously manual and time-consuming processes that are a big haul on corporate bottom lines. For businesses that have large supply chains with millions of orders or purchases to process, managing invoicing and procurement processes can be a significant heave. Enterprises, increasingly, are implementing AI in supply chain processes, utilizing tools like computer vision to lever invoices and process automation tools to knob moving information across various systems. These are all a few instances of how Artificial Intelligence is already being utilized to boost the company’s knowledge and their ability to seek and explore answers.