Artificial Intelligence Services to Pull Employment Trigger in 2020

 

Artificial Intelligence services have ably modified the way industries used to function. From managing trade, build great products, managing surveillance to customer interaction and care, the technology is evolving rapidly even though it’s still in its native state of Narrow AI. Even then it unleashes the possibilities which seemed impossible once.

Chris Howard, distinguished research vice president at Gartner said “4 years ago, AI implementation was rare, only 10% of survey respondents reported that their enterprises had deployed AI or would do so shortly. For 2019, that number has leaped to 37% — a 270 % increase in four years. “If you are a CIO and your organization doesn’t use AI, chances are high that your competitors do and this should be a concern.

The Impact of AI in the Employment Sector

Many think the alleged threat of AI is taking away human jobs and many believe it will multiply employment. Below are some of the statistics derived from various sources to understand how fortunate 2020 will be with AI vis. a. vis employment. Now remember, these are just projections:

  • 16% of US jobs may be replaced by technologies like machine learning, AI, robots, and automation by 2025.– forrester.com
  • 48% of experts say digital agents and robots will displace both white- and blue-collar employees. –  pewresearch.com
  • 54% of EU jobs are at risk of computerization.- bruegel.org
  • 9% of new US jobs will be created by techs like AI, robots, machine learning, and automation by 2025. – forrester.com
  • 40% – the percentage of labour productivity increase from AI technologies.- Accenture
  • AI will increase by 300% employment for people with disabilities.– Gartner

Chatbot AI

Chatbots Aren’t Just for Customer Service

According to a study conducted by Oracle, 80% of sales and marketing leaders say they already use chatbot software in their customer experience or plan to do so by 2020 but the benefits of chatbot have expanded far beyond the customer service. They will work as personal assistants for scheduling meetings, alarms, and assisting throughout the candidate background checks and screening process While Gartner predicts that chatbots will power 85% of all customer service interactions by the year 2020. Perhaps more impressive (or concerning), it predicts that, by 2020, the average person will have more conversations with chatbots than with their partners. Companies that run consumer-interactive services and haven’t yet considered chatbots, then it’s high time.

Better Virtual Assistants

  • Data gathered from users in cloud-based neural networks will power 40% of mobile interactions between virtual personal assistants and people by 2020. – Gartner
  • Zero-touch user interfaces will be available on two billion devices and IoT endpoints by next year. – Gartner

Intelligence-backed Marketing and Sales

  • 80% of B2B marketing executives predict AI will revolutionize their industry by 2020- Demandbase
  • By 2020, 30% of all B2B companies will employ Artificial Intelligence solutions to augment at least one of their primary sales processes- Gartner
  • Customers will manage 85% of their relationship with the enterprise without interacting with a human- Gartner

Improved Accuracy and Efficiency of Neural Networks

As said by Kate Saenko, Associate Professor at the Department of Computer Science at Boston University “Neural network architectures will continue to grow in size and depth and produce more accurate results and become better at mimicking human performance on tasks that involve data analysis.” He added, “At the same time, methods for improving the efficiency of neural networks will also improve, and we will see more real-time and power-efficient networks running on small devices.”

AI in Manufacturing

Industrial AI has proven to be more effective, fast, safe and reliable while embedding any existing products or services.

Massimiliano Versace, CEO, and co-founder of Neurala quoted that “2020 will be the year that the manufacturing industry embraces AI to modernize the production line”. He believes that one of the biggest challenges for engineers is to inspect each individual product and component while also meeting deadlines for massive orders that can be solved.

Brands are defined by the experiences they deliver and therefore global companies are investing in AI and ML to enhance their satisfaction-delivery practices.

Ishan Manaktala, CEO of Symphony AyasdiAI said that “AI will remain a top national military and economic security issue in 2020 and beyond.” Not just companies, the government of several countries are investing heavily in AI to keep themselves at front. In 2019, China invested over $140 billion, while the UK, France, and the rest of Europe are following the lead by investing more than $25 billion into AI programs. The U.S., starting late, spent roughly $2 billion on AI but will continue to spend more than $4 billion in 2020. Tech gurus and experts are very excited as AI in 2020 will make healthcare more accurate and less costly, explainability and trust will receive greater attention and automated technology will become less data-hungry.