Significant changes loomed over the horizon as we entered the new year almost a month back now. Technology had begun disrupting industries in 2017 and is only making its point more clear now.
The far and wide-reaching capabilities of Big Data along with the scale of Artificial Intelligence is enabling businesses across various industries to get a hold of consumer behavior and preferences, gain business intelligence and apply insights to delivering better value to their customers.
The convergence in the space of Big Data and AI is the paradigm shift for businesses today. As organizations are striving to capitalize on these unexplored fronts, they are continually looking out for experts and influencers to predict for them what the future holds.
A number of forces have been at work to define the AI revolution and are growing still, to define how AI impacts the market of 2018.
Taking into account the reach of Big Data and their blending into one another, here are some Big Data Trends driving Artificial Intelligence in 2018.
Only a few other areas of businesses will see a boom of a magnitude so large from the application of AI as the Retail sector will witness. Be it a local shop, or the Walmart, businesses are in a hoard to leverage the advanced technologies to cut down on their costs and widen the scope of their work. The way retailers track their inventory and consumer interests is sure to be revolutionized with data being at the core and knowledge derivation processes being applied to it. Customer service, the repetitive and monotonous aspect of Retail businesses will be overhauled by Artificially Intelligent Assistants.
AI-integrations in Mobile and Web Apps
The year 2018 will be focused on automating the user experiences of applications and digital platforms either completely or till a point. Technologies driven by AI, like Machine Learning and Deep Learning will help businesses bring about this change in their organizations. Intelligent apps will be built to analyze data in real-time and provide instant analyses based on it.
The field of Business Intelligence has seen itself grow and mature, thanks to Big Data and the next-gen AI technology. Big Data and Analytics lies at the heart of Business Intelligence and will transform the way businesses derive value from their data and base their decisions upon the knowledge obtained from it. The current Machine Learning systems that are able to identify patterns, habits, and trends, are blurring the line between Business Intelligence and Artificial Intelligence and nullifying the need for human decision-makers.
Improved Document Management
Given the sheer amount of data being generated by the second in the world, better document management software solutions are the need of the hour. There is no denying the fact that Advanced Analytics and Artificial Intelligence are both necessary to devise such methods of accommodating data. Big Data is changing the way AI handles, captures, and generates data that comes from company websites, social media forums, SMSes, and other channels of communication online.
Chatbots On The Rise
A human assistant is incapable today of handling the amount of information that is coming in from IoT-enabled applications and other sources. The creation and deployment of chatbots on company websites or forums is enabling a real-time support to customers leading to a greater customer satisfaction. The success of this newfound communication tool has touched the IT Giants like Apple, Amazon, Facebook, and Google and compelled them to deploy chatbots are various points in their customer service curve.
Personalization of marketing strategy for each customer is what Big Data has been vouching for. Companies are skimming through huge amounts of data for learning the behavior of each customer and providing them customized product recommendations and user experiences as a whole. Real-time targeting in terms of marketing is believed to produce 20 percent more sales opportunities for companies who have learned to use them properly.These trends for AI that are powered by those in Big Data show us that technologies are converging and leading to newer possibilities in business and enterprises.
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