Most people interact with AI every day, whether they’re seeing personalized ads online, or ordering around Alexa. Our interactions with AI are only increasing and will bring about major shifts for business.
You’ll want to look out for these trends in AI to get ahead of the competition.
Music in a restaurant, bar, or at home will automatically change based on the number of people in a room and their Spotify playlists. Software similar to Alexa is being unveiled that can detect the number of people in any given space, pair with nearby devices, and read the room’s musical taste.
AI is already making its own music that sounds just like human music and Google Magenta’s Lo-Fi Player lets anyone make their own music. Soon the combination of those technologies and a device like Google Home will adapt music to the sound of your conversation. Businesses would benefit from being early adopters of this musical future.
Updating customer information, billing for services, or warning you about contract violations may all be done automatically. A big part of AI’s usefulness is doing all the boring work humans don’t enjoy.
If you get an email that a client is changing addresses, or if they just update it on their Google Maps, your personal files will get updated before you even hear about it. Companies like UiPath and Workfusion already specialize in what’s called Robotic Process Automation (RPA) and there are at least 53 other companies in the emerging field.
These companies will sell you software that fills out all your forms, bills your customers, warns you about violating any codes of conduct you might have signed up for, or from incurring any penalties. That may all sound a bit daunting, but the RPA market is booming because of the time it saves companies.
Customer profiles of who is most likely to buy each product will be more readily and widely available. If you have a business that sells a product, you want to know who wants to buy your product. If you want to know more about starting a business, you can find relevant information at canadacompanyformation.com.
That kind of market analysis has been solely in the hands of corporate behemoths, but will soon be accessible to smaller players as well. Flower delivery service Teleflora faced a problem that because most of their sales were on Valentine’s Day, they had few opportunities to learn about their customers and how to attract more.
They hired the machine learning capabilities of Bluecore to develop a customer profile for their products. That kind of customer data could allow pizza joints to market their signature slices to target demographics.
Job training and hiring will all be completed by AI. Video recorded job interviews with only one person present on the call are already commonplace at big companies like Bell Media.
The same kind of data profile collection used for customers is being applied by recruiters to find prospective hires. Companies like Radancy and AI Recruiter Inc use data and machine learning to identify the top candidates for each position a company needs.
Bigger profits, fewer jobs.
AI saves time and money. But that time is work a person does for the money that they need.
The effects of these job losses and profit increases will be slow at first. Look to how the market disruption brought on by Uber and Airbnb changed the employment landscape as well as our behaviour to get a glimpse of a future AI disruption’s scale.