Robots and artificial intelligence were first seen on film in the 1920s German classic Metropolis. Since then, movies featuring artificial intelligence (AI) characters, from Star Wars to Blade Runner to the Autobots in Transformers, have captured our attention. But what was once only a fantasy has now become our reality. Life imitates art, after all, and contemporary futuristic technology is now a part of our daily lives.
A few years ago, the only AI we had heard of was in the form of chess-playing supercomputers. Yet, these occurrences are now happening frequently, quickly, and thickly. A university-level math exam was recently finished 12 times more quickly by artificial intelligence (AI) than by humans. Facebook chatbots later developed their own lingo. The business world is being shaken by the influence of machine learning AI, which is becoming smarter, quicker, and more inventive by the day.
In just five years, the machine-learning market, which was valued at $1.41 billion in 2017 and is expected to reach $8.81 billion, according to a recent report. Even trying to imagine? The good news is that technology is the future of service industries, and it is becoming more widely available. Businesses of all sizes can benefit from the usage of AI and associated technologies. As a result, artificial intelligence (AI) will have a significant impact on business, and the following are some trends we may expect to see this year.
Using artificial intelligence (AI) boosts marketing
By 2023, the use of artificial intelligence (AI) to give customers a more individual experience will increase. Programmatic advertising and dynamic landing pages will become standard. But the world of social media marketing will feel an even bigger impact. Consumer behavior is already being understood via AI. Thanks to artificial intelligence (AI), this year you’ll see postings that are specifically timed and messaged to appeal to the consumer.
Setting new standards for eCommerce
If you’ve recently looked through an eCommerce site for a pair of jeans, you might have noticed that your social network page is flooded with advertisements for related goods. Your internet activity and purchasing history are being examined, and starting this year, the strategy will be more overt. By analyzing the times you are most likely to be online and the postings you are most likely to click on, artificial intelligence (AI) will present you with an experience that you almost certainly won’t be able to resist.
Chatbots are becoming smarter
Because they provide round-the-clock customer service, quick responses, and also maintain track of customer history, chatbots are becoming more and more popular. They are your virtual assistants, experts at deciphering consumer data to provide you with a customized experience. Business experts from all across the world have bet on chatbots becoming more intelligent. Both large and small businesses will be seen making use of the technology.
Better and more efficient automation for businesses
Although many organizational procedures have already been automated, the scale will continue to expand and span more functions. Modern software will enable AI-driven automation in accounting, operations, and human resources. Offices will utilize visitor management systems for brand promotion in addition to making visitors feel welcome.
To maximize the benefits of these breakthroughs, managers will need to come up with clever strategies. In terms of the commercial application of artificial intelligence (AI), 2023 will probably be remembered as the year the revolution began.
The pedagogy at the Regional College of Management has been created in a way that students may remain upbeat and informed about the revolutionary developments in the technological world. Graduates and faculty from the Regional College of Management are currently conducting compelling research in this domain to integrate artificial intelligence with sound management. This research includes attending workshops in Artificial Intelligence (AI) and being exposed to extensive lectures on the topic.
