Digital Transformation with Artificial Intelligence (AI): Are you ready?
Digital transformation is one of the most important, if not the most important, initiatives that many organizations have been implementing. The rise of a series of new technologies such as SaaS, Mobile, Robotics, Internet of Things, Virtual Reality, … has played a pivotal role in the digital transformation of businesses. Among them, we believe that Artificial Intelligence (AI) and Machine Learning are the most important technologies in driving businesses through digital transformation. In this Tech Town article, let’s discuss the impacts of AI in business digital transformation.
What is Artificial Intelligence (AI)?
According to Accenture Research, “AI is the set of many technologies that enable machines to detect, understand, act on, and learn on their own, or to augment human activity.” AI has more of a human’s ability to learn and distinguish things. And AI is also present to outperform humans – no break needed. The same Accenture study reveals that AI could double annual economic growth by 2035 by changing the nature of work and creating new relationships between Humans and Machines, increasing productivity labor productivity up to 40%.
AI is already present in many of the services that we use every day, without even realizing it. For example, e-commerce platforms co-recommend suitable products to users, based on data from previous purchases. AI is starting to mature to the point where it can learn without human interaction.
AI tools have become an integral part of many businesses as they help improve their operational efficiency and develop solutions focused on increasing user experience.
Rise of AI
Artificial intelligence is not a new concept. The fact that the term appeared in 1956, it was coined by a group of scientists who met at Dartmouth College, New Hampshire. They worked for two months with one clear goal: Bringing logical/rational human behavior into machines. 62 years have passed with a lot of research, successes and failures in an attempt to make machines think like humans.
Interest in AI began to revive in the late 90s when IBM’s Deep Blue Supercomputer defeated the great Russian chess player Gary Kasparov. Since that match, we’ve seen tremendous technological advancement in AI. One of those achievements was RoboCup in 1997, which included matches with 40 teams of interactive robots and over 5000 spectators.
In the face of all such AI advancements and developments, it is perfectly right for us to think of something extraordinary to aid humans. Over the past 10 years, advances in computing technology and software as well as access to vast amounts of data (thanks to the Internet and SaaS/Cloud-based systems) are enabling the rise of AI. . Hardware and software are becoming more powerful, less expensive, and easier to access, which makes it possible to process large data sets quickly and cost-effectively. The total amount of data generated is expected to double every year or so over the next decade, according to InsideBigData, which is essential to helping AI systems learn and make decisions. The more information they have to process, the more AI can learn, and the more accurate the decisions they make.
Read more: Applications of AI in specific fields.
What benefits does AI bring to the workplace?
As Artificial Intelligence, automation, and Machine Learning break barriers across all industries, businesses need to embrace them and understand that they are powerful tools. As AI is adopted and becomes an integral part of work processes, the overall benefits will become more apparent. By automating tasks, companies will be able to free up human resources to focus on more important aspects – that is, the creative and challenging work that “only humans can do” . Therefore, highly qualified people will be the mainstay of any organization in the future.
Giants like Google, Microsoft, Facebook, Amazon… are investing hundreds of millions of dollars to develop Artificial Intelligence solutions. Google has unveiled a virtual assistant called Duplex that can talk/act like a real person and help people get things done every day.
In the workplace, AI will allow us to be more productive, reduce human error, and automate processes, such as Chatbots and Natural Language Processing (NLP) tools. can simulate a human conversation, answer questions, or personalize the user experience.
Artificial intelligence is increasingly embedded in people’s lives, not only in the individual sphere but also in the decision making of the whole company/enterprise.
What do we need to do about AI trends?
The predictions made by IDC show that AI-powered digital transformation is the way forward. What is really urgent today is redefining a new operating model based on AI, organizational structure, roles and communication strategies to manage change effectively.
This creates an urgency to redefine a new operating model based on AI, organizational structure, roles, and communication strategies to manage change effectively. 40% of all digital transformation initiatives and 100% of effective IoT efforts will be powered by AI capabilities. The reason is that data coming from IoT devices and digital transformation initiatives will have no practical value without AI that finds valuable information from the data.
To deal with the challenges of the digital economy, businesses will have to develop agile AI/ML teams. Artificial intelligence involves synergistically linked teams, process automation, and advanced analytics. Therefore, the required expertise in each of these areas is a combination of knowledge in Telecommunication, Computer Science, Mathematics, Statistics and Engineering (AI Team Role). If your business is considering implementing AI technology, it’s a good idea to start as soon as possible, preparing processes to correctly exploit AI models. And Tech Town is ready to help businesses in that.
Tech Town is a technology company from Vietnam, with representative offices in the United States, Japan, Canada, the Netherlands,… As a reputable technology partner, specializing in implementing software development projects Customization with the application of the most modern technology techniques such as AI, Machine Learning, Blockchain… For more than 4 years of operation, Tech Town has become a reputable digital transformation consulting partner trusted by startups and enterprises from many countries around the world such as: USA, Canada, Netherlands, Japan, UK and other developed countries.
Contact us if your business has any technological challenges!
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