How AI could change businesses forever with smart automation

Whatever we read in the books of science fiction has become a reality today. Artificial Intelligence has taken over our professional and personal lives.

Whether it’s about making our daily errands easier or achieving efficiency at the workplace, everything is just ‘AI’ away!

Businesses lately have become heavily reliant on AI and ML as they analyse data across multiple functionalities, helps in detecting uncertainty, and ensures high-class customer relationship management. Retailers like Walmart, Giant Eagle, and Amazon have been using AI for multiple tasks, including cleaning, inventory management, loading, and unloading merchandise. For businesses like these, ‘Robots’ is the new normal.

Companies like Zoho and Constant Contact operate on software that helps users to customise the parameters of their email marketing campaign according to their requirement and then set it to run automatically.

Robots and artificial intelligence have transformed the functioning of businesses globally as they ensure:

Automation is present in modern small and large businesses. However, they are visible in different variations. In some places, automation will be present in its most blatant form like self-driven vehicles, and some businesses will have automation in the most subtle form as software applications.

In the coming years, organisations that implement AI applications are going to become more diverse, as they will be powered with the ability to predict the future and perform. This will give them a competitive advantage.

In fact, a report by McKinsey says that the intervention of automation in business will change how organisations operate globally. A report below explains AI’s impact on businesses in detail.

Also, according to the report, Artificial intelligence is attracting growing amounts of corporate investment, and as the technologies develop, the potential value that can be unlocked is likely to grow.

According to Ray Kurzweil, American inventor, and futurist, “Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045, and we will have multiplied the intelligence – the human biological machine intelligence of our civilization – a billion-fold.”

But why organisations choose AI?

End-to-end efficiency: Artificial Intelligence improves analytics and resource utilization in an organisation, resulting in significant cost reductions and a significant surge in profits. It automates tedious processes and reduces downtime by predicting maintenance needs.
Enhances decision-making with accuracy: AI augments human intelligence with rich analytics that help in predicting patterns leading to better quality and enhanced business results.
Intelligent offerings: MI transcends human intelligence which helps businesses uncover gaps and opportunities in the market more quickly. This leads to better prediction of what customer wants and deploys products, services, and models accordingly.

Let’s look at AI’s impact on various industries.

Right from Airlines to Uber, the transportation industry has transformed with AI. With the help of AI, airlines ensure more safety, adaptability, optimisation, efficiency, and capacity. Ridesharing apps like Uber use AI for determining the price and analysing etc.
In the healthcare industry, AI helps in automatic disease identification, drug discovery, personalised treatments, etc.
In online shopping, AI assists in search recommendations and helps customers choose products based on their past purchases.
In the financial sector, AI helps in preventing failures and downtime. Biggest frauds to client segmentation, everything is seamlessly managed by AI.
In fact, these days politics is highly influenced by AI. Right from targeted campaigning to public opinion monitoring, AI has made its grand entry in this domain too.
The defense sector of every country is highly reliant on AI. Target identification to the maintenance of a weapon system, AI is making this sector thrive and flourish.

This is not it.

In the coming few years, AI will become a way of life and a boon to some. For example, using Big data, AI in the future will help solve the gravest issues of our century, such as climate change, predicting earthquakes, etc. Robots and drones are set to take over hazardous jobs as well.

How is SRM University helping students become a part of this highly in-demand sector?

Realising the need for AI and its significance in various businesses, SRM University AP, Andhra Pradesh, in collaboration with LEARNXT offers various in-demand courses such as MBA (Data Science) – Specialisations in Business Analytics & Machine Learning and Artificial Intelligence, – MSc (Applied Data Science), – PG Diploma in Applied Data Science, and – PG Diploma in Machine Learning and Artificial Intelligence.

Given the education space is already swamped with multiple options, why would one choose SRM? We will tell you why.

For UGC approved degree
SRM alumni status and opportunity to interact with peers from across globe through private online & offline events
Learning from faculties with IIT & global university pedegree
To learn industry aligned latest curriculum with 70% focus on practical & projects and 30% theory
For learning convenience: programs offered in both fulltime classroom as well as weekend hybrid model
To learn how to apply Artificial Intelligence applications and Deep Learning algorithms for real life-like business problems through case materials and simulation sourced from Havard Business Publishing
Internship opportunity for real life experience
Access to career services such as Career Planning, Resume Building, Mock Interviews, Career Coaching Service, Internship & Job search Support through CareerNxt platform
Lifetime access to courseware on AI based LMS StudyNxt

To know more, please click on, https://learnxt.com/home.php

How AI could change businesses forever with smart automation