Artificial intelligence (AI) isn’t a part of the future of technology.
It is the future of technology.
Elon Musk and Mark Zuckerberg have even publicly debated whether or not that will turn out to be a good thing.
Voice assistants such as Apple’s Siri and Amazon’s Alexa have become more and more prominent in our lives, and that will only increase as they learn more skills.
These voice assistants are set to explode as more devices powered by AI enter the market. Most of the major technology players have some sort of smart home hub, usually in the form of a smart speaker. These speakers, like the Amazon Echo or Apple HomePod, are capable of communicating with a majority of WiFi-enabled devices throughout the home.
While AI is having an enormous impact on individuals and the smart home, perhaps its largest impact can be felt in the e-commerce space. In this increasingly cluttered market, personalization is one of the key differentiators retailers can turn towards to stand out to consumers. In fact, retailers that have implemented personalization strategies see sales gains of 6-10%, at a rate two to three times faster than other retailers, according to a report by Boston Consulting Group.
This can be accomplished by leveraging machine learning technology to sift through customer data to present the relevant information in front of that consumer as soon as they hit the page.
And for marketers, AI can bring new insights and better data analysis, make marketing teams more creative, and help companies make better management decisions.
Regardless of your industry, AI is everywhere. And it will change the way you do business. The question is: Will you be ready?