Artificial intelligence is the concept that machines can mimic human actions and thoughts. Recently, I had a conversation with an acquaintance in India whose business in the U.S. was quite successful. He told me that his Indian software company was using artificial intelligence to analyze consumer behavior and make suggestions about products. This type of analysis is currently available only in the U.S., but huge strides have been made in India in this area in the past few years. So, why wouldn’t an American company want its products analyzed by an Indian company?
There are several reasons. One is that India’s population is a large one. The country has one of the largest populations in the world. Thus, many of their citizens are able to use computers and Internet technology. And many businesses want their products to analyze quickly to see if there is a need for changes in strategy or product development.
Two other reasons are that India is rapidly becoming an economic superpower. The country has a booming economy and is increasingly buying products from the U.S. to fuel its growth. Additionally, it has become a strong ally in the U.S.-ASEAN relationship. Many of its citizens speak English, which adds another benefit.
Finally, India is a major exporter of labor. It has a huge pool of professionals who have been taking advantage of technology for decades and are now able to get full-time employment in America or Europe. If an American company wanted to import someone like this, it would be very easy to find an employee with the necessary skills.
Of course, all this assumes that businesses have not already been using artificial intelligence to analyze their data. Quite frankly, most of them have. They are simply not aware of it. Businesses are taking advantage of all the new technologies like Twitter, FourSquare, and Facebook to get real-time information about their customers, which they can then use to make better decisions. As more of these platforms come online, the value of AI will grow.
Will artificial intelligence replace people completely? Certainly not. Today’s computers can do many tasks that people used to do. They include reading, writing, analyzing data, analyzing images, synthesizing speech, and so on. Even doing these things is expensive, so replacing someone will not happen overnight. But the process will happen gradually, and eventually all computers will be able to do most of the things humans can.
Artificial intelligence will also provide businesses with data analysis tools. They would allow companies to determine the efficiency of their processes, as well as the effectiveness of their sales and marketing strategies. They would allow them to make informed decisions on what products to sell, where to advertise them, and what kind of marketing campaigns to use. And all this by just recording and storing data.
How will artificial intelligence to change the way we work? For instance, with all of the data collected by these programs, managers would be able to determine when their employees are doing their job, and when they are not. This could eliminate the need for endless meetings and repetitive tasks. A business manager in the future might actually sit down with one of his workers, show them some charts, and point out which parts of their business are inefficient. This would inspire the worker to improve his performance, which might mean an increase in productivity, which means a reduction in employee turnover, and therefore a higher bottom line.
Another benefit would come to businesses that have to outsource jobs. Today, many people outsource certain tasks to save money. However, if these companies only analyzed the performance of their outsourcing workers, they might realize that it is costing them more in terms of money and energy than it is worth. Thus, by using AI, the business owner might just recognize that it is better to retain these individuals for a longer period of time, even if it means a small pay raise.
In the future, you may be able to conduct your own research about your products or services. Today, you have a handful of marketing professionals who are hired by large corporations to research the public’s perception of the product. However, in the future, who knows what innovations might be in store for us. Perhaps the public’s perception of your product will change dramatically, and your research would then be no longer necessary.
So, why aren’t you investing in artificial intelligence right now? Maybe you’re afraid that the cost would be too high. Or maybe you’re simply unwilling to believe that computers can replace men in all professions. Whatever the case may be, if you want to stay on top of the current trends, you have to start studying the future of artificial intelligence. You’ll be glad that you did!