StartupTalky

Tag: artificial intelligence

  • 7 Great Industries in The United States To Get a Job

    If you are still looking for a job, here’s some good news for you! The United States is home to over a million different companies – and while many of them are small startups, others are well-known brands – Amazon, Apple, Disney, and Starbucks, for example. Many of these businesses have been around for a long time, some for more than a century. If you’re looking for a job and would like to work in a certain field ranging from tech to healthcare to hospitality and so on, there are many industries you can choose from. Here’s a look at some sectors with the greatest potential for growth through 2022.

    Top Industries to Get Job in The United States

    1. Healthcare
    2. E-commerce
    3. Renewable Energy
    4. Computer Systems Design and Related Services
    5. Education
    6. Tourism
    7. Artificial Intelligence

    Top Industries in the United States

    Healthcare

    Healthcare Industry Expenditure in The US
    Healthcare Industry Expenditure in The US

    There are many reasons to consider a career in the healthcare industry, but chief among them is demand. According to the Bureau of Labor Statistics, approximately 18 million new jobs will be created between now and 2022. Some of these positions will require formal education, such as registered nurses and physicians, but others do not. In addition, Healthcare support occupations — including home health aides — are expected to grow by 28% during this period.

    Many people think of doctors and nurses as the main providers of health care. Still, many other types of professionals can enjoy good salaries and job security. Those interested in medicine but don’t want to spend years in medical school consider becoming a physician’s assistant or nurse practitioner. Also, think about becoming a pediatric nurse practitioner or a pediatrician’s assistant if you like working with kids.

    If you don’t want to practice medicine, consider teaching. There is a growing demand for assistant teachers who help to train nursing students.

    E-commerce

    e-commerce Estimated Revenue In The United States
    e-commerce Estimated Revenue In The United States

    The consumerization of technology, new online payment methods, and the proliferation of mobile devices has accelerated the pace of e-commerce. The trend is clear — more and more people are shopping online every year.

    E-commerce is in the midst of a major transition. Just a few years ago, most e-commerce was conducted through desktop browsers. In 2022, according to Forrester Research, e-commerce will account for 11% of all retail sales, and 80% of that will be conducted via mobile devices.

    This means that brick-and-mortar stores will have to adapt to an increasingly mobile world, and that means investing in mobile apps and other technologies designed to support commerce on the go.

    eMarketer forecasts that U.S. e-commerce sales will surpass $600 billion by the end of 2022 — a 20% increase from the 2018 year — and will account for more than 18% of all retail sales in the country.

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    Renewable Energy

    Renewable energy Production Consumption in The United States
    Renewable energy Production Consumption in The United States

    Among the fastest-growing sectors in the world – renewable energy is an industry like any other. It can make or break a country’s economy.

    Renewable energy sources include solar, wind, hydroelectricity, biomass, and geothermal. These industries have been growing greatly over the past decade and will continue to grow in the coming years.

    The industry is booming, which means that the best people are already working there. However, those who want to make a difference will find it highly rewarding.

    The renewable energy industry is expected to grow at an annual rate of 22% in 2022. That includes solar power, wind power, biofuels, and other sources of green energy. So, even if you’re just starting, you can get into the renewable energy industry.

    Revenue of computer systems related services NewYork
    Revenue of computer systems related services NewYork

    Computer systems design and related services companies help other businesses with computer networking, maintenance, programming, and other associated services. The computer industry has already seen substantial growth in recent years. Still, the future looks even brighter as more businesses rely on computers for their daily work.

    Employment opportunities in this field are expected to be particularly strong for those with a bachelor’s degree or higher because many companies prefer to hire individuals who have completed an accredited program. The industry has grown speedily in the last few years at an impressive rate of 5.3%. This rate is expected to grow even faster in 2022 and beyond.

    According to the BLS, computer systems design is one of the fastest-growing jobs in America. The growth will be driven by businesses that want to make their operations more efficient and lower costs by outsourcing computer-related services.

    Employment in this industry has grown an average of 6.4% annually since 2010. Its projected growth rate for 2022 is more than four times that. The Bureau of Labor Statistics report says the computer systems design industry is set to grow by 22% in 2022, increasing the number of jobs to 1.2 million. In addition, the industry pays an average salary of $95,270.

    Education

    Educational Support Industry in The United States
    Educational Support Industry in The United States

    The education industry is a great industry due to its stability and room for growth. Many jobs in the education industry are necessary and cannot be outsourced, which means that plenty of opportunities exists in this field. Consider taking a course or degree related to teaching, human resources, or school administration to get into this industry.

    Experts predict that education will stay hot next year thanks to shifting demographics and technology.

    With baby boomers retiring and the economy improving, an estimated 3.2 million jobs will be added to the American workforce by 2022. That’s a lot of new workers, but it’s not all good news: According to a report from Georgetown University, 65% of jobs will require post-secondary education.

    According to BLS projections, education services will also grow substantially over the next 10 years. Thus, if you have an idea for a teaching tool, or other education-related product or service, now may be your chance to pursue it.

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    Tourism

    Tourism market in The United States
    Tourism market in The United States

    The tourism industry is one of the most exciting industries that one to get into. As people become more wealthy, they become more willing to spend money on leisure activities and experiences rather than products. People tend to spend money on experiences rather than products.

    To provide these experiences, the tourism industry needs a lot of employees. For example, it needs tour guides and other staff members to run its tours. It also needs marketers, logistics staff, and customer support personnel to ensure that its customers have a good time.

    Tourism and leisure are expected to experience the most growth of any industry in the U.S. over the next decade. Analysts expect it to add more than 1.2 million jobs between 2016 and 2026, with an average annual increase of 2%. It’s already one of the nation’s largest industries, employing roughly 11 million people in 2017, according to the Bureau of Labor Statistics (BLS).

    In addition, as the importance placed on experiences continues to grow, opportunities within the tourism industry are likely to increase as well. This means that you are likely to have good job security in this industry.

    Artificial Intelligence

    The future is here. If you want to be part of the next generation of tech, AI is the industry that is shaping the near future.

    If you’ve ever asked Siri or Alexa a question, used Google Maps to get somewhere, or bought something online based on a product recommendation, you’ve tapped into the power of artificial intelligence. This technology uses software and algorithms to solve problems that once required human intelligence. And it’s only going to get more sophisticated in the future. By the end of 2022, AI will help companies increase their productivity by 40%.

    A few big players lead the way for AI – IBM and Microsoft have large investments in AI research and development. But smaller companies are also making waves in this field: In 2017, Apple became one of the first tech giants to focus on ethics in AI Companies like Facebook are developing their own AI programs for chatbots and product recommendations, while DeepMind is researching how AI can predict diseases before they start.

    Artificial intelligence (AI) is a broad research field applied to many industries. AI is often defined as machine intelligence that mimics human thinking and decision-making to solve complex problems. According to an April 2017 report from McKinsey Global Institute, artificial intelligence could contribute $13 trillion to the global economy by 2030.

    Conclusion

    These are the best industries to get into. Your future career is waiting for you. These were some of the few great industries that will continue to grow strong in the years to come. Are you still on the fence? Consider each of these fields further and reach a decision that best fits your career aspirations. Good luck!

    FAQs

    What are the top industries for employment opportunities in the US?

    Top industries that have huge job opportunities in The United States are:

    • Healthcare
    • E-commerce
    • Renewable Energy
    • Computer Systems Design and Related Services
    • Education
    • Education
    • Tourism
    • Artificial Intelligence

    What jobs are most in-demand in the US?

    The most demanding jobs in the US are:

    • Registered Nurse
    • Software Engineer
    • Information Security Analyst
    • Occupational Therapist
    • Web Developer
    • Data Scientist
    • Solar PV installers
    • Wind Turbine Service Technician

    What is the biggest industry in the US?

    The top three major industries in The United States are:

    • Service Industry
    • Manufacturing Industry
    • Agriculture

  • WizKlub Success Story of Empowering K-8 Students to Develop Cognitive Skills!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by WizKlub.

    Technological advancements today have changed the way we communicate, educate, carry out financial transactions, the way we shop, and numerous other horizons of our lifestyle. To create the kind of technology that can solve both access and quality problems associated with the education sector across the world Amit Bansal launched WizKlub in 2018.

    Hailed as an innovation platform for kids, WizKlub offers a wide range of ways to nurture complex and critical thinking in the minds of children between 6 and 14 years of age in a simplified way.

    Here’s the success story of WizKlub that includes everything about WizKlub, its Founders and Team, Startup Story, Business Model, and Revenue Model, Challenges, Funding and Investors, Growth, and more.  

    WizKlub – Company HighLights

    Startup Name WizKlub
    Headquarter Bangalore
    Sector ET Tech
    Founders Amit Bansal
    Founded 2018
    Parent Organization WizKlub Learning Pvt Ltd
    Website wizclub.com

    WizKlub – About and How it works
    WizKlub – USP and Innovation
    WizKlub – Target Market Size
    WizKlub – Founders and Team
    WizKlub – Startup Story | How did it start?
    WizKlub – Mission
    WizKlub – Name, Tagline, and Logo
    WizKlub – Business Model and Revenue Model
    WizKlub – Funding and Investors
    WizKlub – Growth
    WizKlub – Startup Challenges
    WizKlub – Competitors
    WizKlub – Future Plans

    WizKlub – About and How it works

    WizKlub is a research-based education company that has combined technology with research in cognitive learning to empower K-8 students with smart reading and problem-solving programs and skills required to succeed in the coming decade. WizKlub’s HOTS and SmartTech programs develop cognitive skills in children aged 5-15 years through an AI-powered tech platform that delivers a personalized learning path for every child.

    WizKlub’s vision is to provide high-quality education to school children through advances in science and technology and impart skills needed to succeed in the future along with creating a million thinking minds who are lifelong learners, adept problem solvers, and would build technology for a better future.

    WizKlub offers a wide array of products including:

    • HOTS – Higher Order Thinking Skills across Comprehension, Critical Thinking, Logical Reasoning, and Problem Solving. The WizKlub HOTS Program develops higher-order thinking skills to ensure that every child is a smart reader and a smart problem solver.
    • YPDP – The Young Product Designers Program offered by WizKlub is designed to help children build and code tech products.
    • Connected Learning (STEAM Learning) – The Connected Learning for Kids, as offered by WizKlub, helps children between 6-14 years learn an integration of Science, Technology, Engineering, Art, and Math, which is designed to nurture co-curricular activities in them.
    • Alexa Skill Development for Kids – This wing that helps kids learn programming, empowers them with Blockly-based WizKlub’s Voice Developer Tool, which will help them build their own Conversational AI – Alexa Skill.
    • Machine Learning for Kids – This program of WizKlub extends adequate knowledge to the children to help them build their own Machine Learning engine.
    • Wiz Web Design for Kids – The Web Designing program of WizKlub helps the children to learn the basics of web development with HTML and CSS.

    WizKlub has also launched a SmartTech programme, which caters to children, even those who are aged 6 years, and helps them develop lifelong skills and confidence by empowering them to create tech products by applying cutting-edge technologies of coding, robotics, smart devices, and AI. WizKlub also boasts of its programmable smart device, ‘WizGear’, which helps a child get a new product module that they can use for coding and building every month.

    In the coming future, it is expected that 7 out of 10 school-going students would be working on roles that don’t even exist today. The implication is that these students would be required to solve NEW problems. Further, this generation needs to be lifelong learners as technology is changing every industry making the roles obsolete every 3-4 years. However, more than 90% of the students in the Indian school system learn and solve problems using “Rote Memorization” which means that they would be a misfit for the workforce in the coming decade or may end-up doing extremely low-end tasks.

    WizKlub products solve this problem by raising the core aptitude of every child and making them smart learners and adept problem solvers. The students of the WizKlub system are trained to become Creators of Technology than just being passive consumers of technology.

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    WizKlub – USP and Innovation

    The USP of the WizKlub products are as follows:

    • Product designed with research in Cognitive Learning.
    • Personalized learning path for every learner based on existing levels.
    • Hybrid learning cutting across facilitator, app, and conversations through Artificial Intelligence.
    • Hybrid learning environment cutting across facilitator, app, and conversations through Artificial Intelligence.

    WizKlub – Target Market Size

    WizKlub is targeting k-8 school students. The k-12 supplementary education sector in India itself is $15 billion (Rs 100,000 crores). Several k-12 students are 350m and half of them are in the k-6 segment itself. According to a report by KPMG in India and Google, the online Education market is expected to cross $2bn by 2022 and $4bn by 2025.

    WizKlub – Founders and Team

    The founder and CEO of WizKlub is Mr. Amit Bansal. Other team includes Manohar Kashyap, Jaspal Singh, Swarup Vijh, and Pramod.

    Amit Bansal

    Amit Bansal WizKlub
    Amit Bansal – Founder & CEO WizKlub

    Amit Bansal is the Founder and CEO of WizKlub. Amit has a Master’s degree in Marketing from XLRI, Jamshedpur. Before founding WizKlub, he was an Advisor at IndiQube. Also, this is not his first startup, before WizKlub, he has also co-founded startups like Xcelerator and PurpleLeap.

    Swarup Vijh is the Senior Vice President. He has a Master’s degree from the University of Pune. Swarup was working with iStar as a National Operations Head before collaborating with WizKlub. Vijh held some other key leadership positions in several organizations including Pearson Education, ICFAI, HED-X, GMMCO, and more.

    The startup onboarded Pankaj Bande (Jain) as its Chief Technology Officer (CTO) on May 4, 2021. Some other notable employees of WizKlub are Manohar Kashyap, Jaspal Singh and Pramod N.

    Team WizKlub

    WizKlub – Startup Story | How did it start?

    This EdTech company for School Children is the third EdTech venture of this team. The earlier two ventures were in the higher education space where the team worked with over 50,000 engineering students across India. “We realized that at that stage we could create the maximum impact by skilling students on specific tools. However, at that age, the basic aptitude of a student is pretty much cast in stone and cannot be changed significantly. So, if a student does not have programming aptitude, one cannot be trained to become a good programmer.” Said Amit Bansal.

    More research established that the core aptitude of a person that defines one’s suitability for different career roles is pretty much defined in the first 12-13 years of their life. And unfortunately, the Indian schooling system is still focused on curriculum, instead of focusing on core aptitude that makes one smart learner and adept problem solver. Hence the team decided to address this issue by providing a scientific program to build these skills when the age is right. They worked on the product for 6 months including prototyping and pilots to establish product efficacy. The product has an 83% efficacy rate which is quite remarkable for a learning product.

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    WizKlub – Mission

    “WizKlub is on a mission to create a million thinking minds,” says the mission statement of the company.

    The logo of WizKlub is essentially centered around a tick mark which denotes students making the right choice. WizKlub is a club of Wizards. Essentially, the creators of tomorrow are the wizards of the future. They are going to look like they have magic powers compared to everybody else.

    WizKlub Logo

    WizKlub – Business Model and Revenue Model

    The business model of WizKlub is subscription-based and the investment ranges from 10k to 25k per year depending on the program.

    WizKlub – Funding and Investors

    The funding amount of WizKlub stands at $1.96 mn (Rs 15 crore), which was raised via an Angel round followed by a Seed round that poured in Rs 2 crore and Rs 7 crore respectively, after which, WizKlub raised another Rs 6 crore via a Pre-Series A round of funding.

    WizKlub has last raised a Pre-Series A funding round led by Incubate Fund India. Before this it raised a seed round of funding of Rs 7 crore, which was led by Incubate Fund India with participation from Insitor Impact Asia Fund. The company planned to use the fresh capital for product and market expansion.

    Date Stage Amount Investor
    February 16, 2021 Pre-Series A INR 6 crore Incubate Fund India
    January 2020 Seed INR 7 crore Incubate Fund India and Insitor Impact Asia Fund
    January 2019 Angel INR 2 crore Saurabh Chandra, Hardeep Singh, Pankaj Goel, and Pradeep Singh

    WizKlub – Growth

    WizKlub’s distribution model is centered around neighborhood facilitators who impart the program to the students in the apartment or community areas. The team launched the program through events in these apartments and found the early adopters. The customer experience and product efficacy have been extremely important to the team ever since its inception, and the growth has been through positive word-of-mouth from our existing users. “We have moved the core aptitude (IQ) of more than 3000 students!” says Amit Bansal.

    The startup has 150+ centers in Bengaluru and has progressed 3000+ children through its programs. The company also offers HOTS and SmartTech programs on a subscription model and is on track to on-board 10,000+ children over the next few months.

    The subscription-based online programmes offered by WizKlub are empowering students globally. With the help of these programs, WizKlub boasts of having delivered 100,000+ hours of personalised learning to young students across the world.

    WizKlub – Startup Challenges

    One major challenge that WizKlub faced initially was that the product was delivering results in terms of improved learning and problem-solving aptitude but ONLY those parents who were involved with their kid’s learning journey were able to witness the results. The involved parents could see that the child has become an active reader, can read between the lines, is asking intelligent questions, is more inquisitive, is not scared of unseen problems, which was not the case before joining the program. However, the other set of parents were not able to appreciate the difference as they were expecting results in terms of visible output. The team solved this problem by demonstrating the improvement of the world’s most popular IQ test for children, WISC ( Weschler’s Intelligence Scale for Children). They were able to demonstrate similar efficacy of 85% improvement on the third-party assessment WISC as well.

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    WizKlub – Competitors

    WizKlub competitors include edtech startups like:

    • Byju’s
    • WhiteHat Jr.
    • Classplus
    • Unacademy
    • Curious Jr.

    WizKlub – Future Plans

    WizKlub is planning to grow further in the boom of the edtech startups that we are witnessing in India. The startup is also planning to hire 150 more tutors to enhance its learning programs.  

    FAQs

    What is WizKlub?

    WizKlub is an Edtech company that caters to the K-12 (kindergarten to 12th grade) segment focusing on developing skills in children that will help them succeed in competitive exams and beyond.

    Who is the founder of the Wizklub?

    Amit Bansal is the founder of WizKlub.

    What is HOTS Olympiad?

    HOTS Olympiad is the World’s First Olympiad series that focuses on the Core Aptitude and IQ of a student. HOTS Olympiad is designed by Practitioners working in the area of Cognitive Excellence for children in classes 1 to 8.

    What are the competitors of WizKlub?

    Some of the most notable competitors of WizKlub are:

    • WhiteHat Jr.
    • Curious Jr.
    • BYJU’s
    • Unacademy
    • Classplus

  • Upskilling for Women in the Technology Sector in an Era of AI

    The article is contributed by Minal Sonawane – Software Test Solution Architect, AFour Technologies.

    As businesses build back after the disruptions of the pandemic, there is considerable interest in transforming work structures to be more robust and more dynamic than they were before. Precisely, businesses are endeavoring to build more equitable workplaces for women, who have historically been excluded from advancing as much as their male peers. As AI enters and alters business processes in myriad ways, upskilling will emerge as a crucial tool in addressing gender inequality in the tech space. Here, we briefly examine how this can come about.

    Gender Disparity in Tech

    Research consistently shows that diverse teams perform better, have higher satisfaction rates, and stay on longer. And yet, industries like manufacturing or IT remain heavily male-dominated. According to a joint study by LinkedIn and the World Economic Forum, women make up only 25% of the STEM (Science, Technology, Engineering, and Math) workforce. Moreover, only 22% of artificial intelligence (AI) professionals and 12% of machine-learning (ML) experts are women. Even if they have the same qualifications, men frequently reach executive positions faster than women in the workplace. Many companies also hesitate to help women earn senior tech positions because of preconceived notions about their skills or assumptions about marriage and family coming first for women.

    These issues were exacerbated when Covid-19 struck, and everyone was forced to stay at home. As primary caregivers, the duty of looking after children during the lockdown fell mainly on women, many of whom had to deal with burnout owing to the difficulty of balancing work commitments with family obligations. In particular, a 2021 Women@Work study by Deloitte revealed that 83% of women in tech had an increase in workload along with household duties, while only 38% felt that their organization had given them adequate support. Overall, a recent Citigroup study concluded that about 44 million people would lose their jobs due to the pandemic, of which 31 million would be women – a highly concerning disparity.

    With the advent of AI into everyday business tasks, the respective roles of humans and machines are undergoing significant shifts. Routine tasks are being delegated to software, while advanced skills like machine learning and deep learning are highly demanded. Partly because of the educational gaps between the genders (traditionally, boys are encouraged to take up science while girls are pushed towards the arts and domestic studies) and partly because of male-centric preferences at work, it is women who mostly hold the administrative, clerical and routine job positions that are now being routed to AI. Moreover, there are no clear pathways to help women transition from these routine jobs and towards more complex and lucrative ones related to tech and its applications. As a result, they either end up quitting the workforce or staying on in low-paying jobs that do not let them reach their potential.

    Upskilling as an Equalizer

    Online learning has expanded considerably since the pandemic, which means that accessing high-quality educational content and insight from experts is easier than ever. Upskilling through online courses allows employees to stay up-to-date on rapidly evolving tech trends and pick up valuable new skills from scratch. For women employees, upskilling safeguards them against redundancy and helps them become more valuable assets in terms of the ideas and creative approaches they can bring to the table. In particular, online learning allows them to pick up skills at their own pace and at affordable rates, which is a boon for women juggling household duties and/or those in less lucrative jobs. This way, they can aim for positions that men have traditionally occupied and come into their own as creative contributors.

    Upskilling, indeed, makes employees of all genders more effective and for an emerging and nuanced field like AI, one needs as many talented team members as possible. It is thus in the company’s interest to offer AI-related upskilling opportunities, from online learning pathways to live projects to shadowing opportunities with senior experts. In particular, leaders should invest in training programmes for women in tech with special technical courses and mentorship from senior women leaders. There should also be exceptional support for women compelled to take time off during the pandemic so that dedicated workers can feel like they are valued regardless of their setbacks.

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    The Way Forward

    It is still early days in the “AI-fication” of industries, and effective intervention on a company’s part can go a long way toward reversing gender disparity trends. Comprehensive upskilling opportunities and career transition pathways can help women pick up the skills they may have been traditionally denied and contribute side-by-side with male peers. Companies have already seen the efficacy of flexible work models and should invest in similarly inflexible growth models that help employees – especially women – move upwards into tech roles where talent and interest count for more than background or work history. Thoughtful efforts in this regard will help redress gender disparity and exclusion at work, not just post-pandemic but for all time.

  • How AI is Transforming Investment Decision Making? | AI Use Cases

    The article is contributed by Andesh Bhatti –  Angel Investor & Founder of Collectcent.

    The investment management sector is witnessing what is perhaps its most volatile moment in history. The investment landscape has changed and changed for good at that.

    Investment is no longer an exclusive habit of the rich and powerful, but rather one that’s becoming more widely available as new disruptive technologies make it more and more accessible to the general public. In fact, investment opportunities can now be taken advantage of with the tap of a smartphone because of the rise in demand for digitally facilitated, easy-to-understand financial services.

    Although all these new technologies have the potential to revolutionise and improve the investment process, artificial intelligence (AI) is the one that offers the most potential. The technology encompasses a wide range of techniques for simulating human-like intelligence on a machine. For investors who have until now ventured on the precarious investment terrain relying primarily on their gut instincts and personal assessments, artificial intelligence offers a whole slew of opportunities.

    Gartner predicts that by 2025, artificial intelligence (AI) and data analytics will be used to inform more than 75% of venture capital (VC) and early-stage investor assessments.

    The Inner Voice Conundrum and Its AI Resolution

    Investors who succeed in their ventures are often believed to have a sharp intuition. That’s because their capacity to make financial decisions is based on largely qualitative data like management expertise, industry cycles, strength of research and development, and labor relations; only after that is it abetted by the quantitative data provided by the financial specifics of any business. However, it’s difficult to measure an inner voice, especially when that voice is developed largely through personal experience. And, of course, it also does not give a guarantee of success. Consequently, the role it plays in investors taking financial decisions is decreasing.

    The AI Answer

    Rising data analysis capabilities are fast directing early-stage investing strategies away from personal judgment and qualitative decision making and toward a more sophisticated quantitative process. Data from websites like LinkedIn, Crunchbase, and Glassdoor, as well as third-party data marketplaces, will be a big part of this process. They are already giving rise to sophisticated models that can better identify the feasibility, proposal, and prospective outcome of an investment. The result being that questions like when to invest, where to invest, and how much to invest are on the verge of becoming practically automatic.

    But that’s on optimizing the quantitative process alone. AI is also enabling the metrics for measuring success based on qualitative factors.

    AI technology is renowned for its capabilities of predicting future behaviour and delivering insights into client preferences. Natural language processing AI that can discern features about an individual from real-time or audio recordings can further be used to generate unique profiles, now with barely any human assistance. Based on job history, field experience, and previous business performance, AI algorithms can soon be utilised to estimate the likelihood of investment success reliant on individuals.

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    The Use Cases for AI in Investment Management

    AI can be used in three stages of the investment decision making:

    Pre-trade

    To find and analyse investment opportunities, analysts devote a large amount of time to gathering, sorting, and organising relevant data. Consequently, a substantial part of their efforts is spent on data that is later found to be of little value.

    Natural language processing (NLP) AI can handle a big part of this job, as it can take in large amounts of data from multiple sources, scan for trends and patterns, and then assign a score to each relationship it uncovers. Using these tools can significantly minimise the amount of time analysts spend in this phase, allowing them to focus on data that has the greatest potential for better discoveries.

    At the moment of truth

    Although it is up to the investor to make buying, selling, or holding choices, NLP AIs can assist in this. Relying on AI results blind sightedly is not what most investors are going to buy into. NLP can help explain the drivers of an AI decision engine and give an unbiased report that explains the decision in detail, including all the countervailing elements. This can further enable managers to deep analyse a trade and approve or reject it.

    Post-investment

    NLP engines can leverage structured data inputs to create performance attribution reports and periodic investor reviews. The technology has the potential to increase the speed, precision, and cost of creating reports based on the performance and strategy of the investments made.

    Conclusion

    The use of AI by investment managers is quick reaching a point where it could provide a competitive edge for a long time to come, by enabling better investment possibilities as well as increased operational efficiency. Needless to say, it has the potential to revolutionise the investment decision process, and by relation, the world of growth and innovation.

  • What is the Noise Cancellation Feature of Google Meet?

    The ongoing pandemic has completely changed our life. While being confined in our homes, we realised that life goes on and we had to survive this new normal somehow. This way we got used to so many things that were not a part of our daily lives before, amongst all those one is the Video Conferencing platform.

    During the last few months, we all have realized the value of video meetings. Whether it be a professional meeting, a meeting with your doctor, or your family members, video calling is very important to us all. During these past 2-3 months, Zoom has become the most popular video conferencing software with over 200 million daily users. With the rise of video calling during these depressing times, Google has made the Google Meet available to everyone and with the rise of daily users of Google Meet to over 200 million it is now the biggest competitor of Zoom.

    The Google Meet vs. Zoom competition has just started and it is not going to end soon. To compete against each other both the apps are adding new features. Google Meet recently came up and added a new feature of the AI-based Noise Cancellation System. Its aim is to make sure that its users get the best video calling experience. In this article, we will talk about the noise cancellation feature of Google Meet. So, let’s get started.

    What Is Google Meet?
    What Is the AI Noise Cancellation Feature?
    Features of Google Meet

    What Is Google Meet?

    Google Meet is a video conferencing software enterprise by Google. The video conferencing app was formally launched in March 2017. It initially allowed up to 30 persons per meeting. The video conferencing software initially required a G Suite account to host or initiate a meeting. However, due to the Corona Virus (COVID-19) Crisis, when more and more people have to work from home, Google started offering the services of ‘Meet’ free of cost to its users. You just need a Google account to join or host a meeting on Google Meet.

    What Is the AI Noise Cancellation Feature?

    In April 2020, Google announced that the AI-based Noise Cancellation Feature will be available in Meet for the G Suite Enterprise and G Suite Enterprise for Education customers. The new AI-based noise cancellation system filters out unnecessary background noises such as your dog barking or car horns or the scratching noise made while writing down notes and lets only your voice to be heard by others.

    Google generally starts by providing its advanced features to a small percentage of its users and then rolls out the feature for everyone based on the results and feedback. The initial idea of this project came when Google acquired ‘Limes Audio’ in January 2017. Since then, Google has continually worked on this project. The idea was to remove the distraction caused by the unnecessary background noise. These sounds may include the sound of the pressing of keys on the keyboard, the scratching noise produced when taking notes, the barking of your dog, or the sound of horns by passing vehicles. For this, the Artificial Intelligence team at Google has come up with a new noise cancellation system. The system will filter out such noises from the background

    The new AI Noise Cancellation feature, also called the ‘denoiser’, is trained to recognize various sounds that constitute as noise. The feature’s algorithm can distinctly recognize your voice between all the other noises around you. It can detect sounds such as slamming of a door, musical instruments being played, and other types of noise that are already mentioned. This feature is now available for web users as well as for the iOS and Android users. This new feature, along with the existing features, makes Google Meet one of the best video conferencing systems.

    Features of Google Meet

    Apart from this new noise cancellation feature, there are some of the other features of Meet that are listed below.

    • Host unlimited high definition video meetings.
    • Meet enables you to ‘Meet’ safely. All the video meetings are encrypted and have anti-abuse measures. This ensures the privacy of the meetings. Google claims that the private meetings are not recorded and are not used for targeting advertisements.
    • Enable up to 500 participants in a meeting and up to 10000 viewers for a live stream.
    • Live captioning is available during meetings by Google’s speech recognition technology.
    • Google Meet is compatible across all devices. You can join or host a meeting from your Desktop/Laptop or Android phone or IOS phone or IPad.
    • The screen and layout can be adjusted according to you. While Meet automatically adjusts the layout by adjusting the most active participants on the screen, you can also adjust the layout on your screen.
    • Before joining a meeting, you can adjust your microphone and camera and get a preview of how you look and also a preview of who else has already joined the meeting.
    • Direct Screen Sharing is available. The entire screen or an application can easily be shared by you so that you can share presentations and documents easily.
    • New Low Light mode is now available. Google AI has now enabled users to be clearly visible to others if they are in low light or dim-lit areas.
    • Chrome Tabs can now be shared easily. The ‘Present a Chrome Tab’ feature is now available on Meet.
    • Admins now can control the chat, Q&A and polls options. They can turn these options off if they think they are not needed.

    Conclusion

    Noise is a big factor that becomes a barrier during communication. In the situation where working from home is the new normal, Google Meet’s new feature not only tries to eradicate the barrier but also eradicate the unnecessary noises. This feature definitely gives Google Meet an upper hand along with its other features.

  • 6 Ways Artificial Intelligence Is Transforming the Finance Industry?

    Artificial intelligence is the capability of computers or technology controlled by computers to perform a duty that is mostly done by humans. AI is used in different innovative ways by the banking sector and other finance organizations by utilizing time properly and making sure that there is an increase in revenue and decrease in cost. It helps in providing better and fast services by efficient and improved performance through AI applications in financial institutions.

    Artificial intelligence helps financial organizations to know more about the customer through the data based on the experience of customer behaviour. It is mostly used in the banking sector, investment sector, insurance sector, and other financial institutions.

    The banking sector has been one of the sectors which have gained the most benefit from AI in the finance field, It has benefited investment by automated data and other applications and also helped insurance by providing an Anti-fraud system, data related to customers and risk management.

    How is AI used in Finance?
    Can AI Give You a Competetive Edge Over Your Non-AI Competitors?
    Advantages of AI in Finance
    Disadvantages of AI in Finance

    How is AI used in Finance?

    Personalized Banking

    AI makes it easy to interact with the customers and provides them services like mobile banking, smart wallet, and providing AI applications for customer support and lending decision-making advice on their savings and expenses.

    Anti-Fraud System

    It helps to prevent fraud, as AI is all about studying and reviewing data and the growth of financial institutes. Fraud investigator works efficiently to detect fraud and take corrective measures to take precautions at right time.

    Credit rating

    Ai helps get all the data related to a persons credit reliability by examining the person’s data. It helps to know whether the debtor data should be increased or not and what should be the amount that has to be credited to him.

    Risk Management

    It helps to detect theft and take effective measures against it. It helps to improve data quality. It helps to know about credit risk by the system which gives warning whenever there is a risk.

    Customer service

    It makes it easy to provide service to the customers through different AI tools that are used for customers so that customers are satisfied. It helps in making interaction with customers easy as for every financial organization it is important to have good relations with customers.

    Saving and loan management-

    It helps to know about the saving and expenses done by customers’ behaviour on their spending pattern and loan borrowing. AI helps in debt management using the data collected properly for the repayment.

    A customer who has borrowed money can also use AI technology like apps provided by the bank or any other financial institute as it helps to keep track of the history and analyze data related to the loan provided.

    AI helps to know about loan applicants’ behaviour and makes it easier for banks and apps of a financial institute to know whether the loan applicant is eligible or not for the loan.

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    Can AI Give You a Competetive Edge Over Your Non-AI Competitors?

    It helps to know the customer wants through the data that is based on the current information provided and helps to get a competitive advantage over competitors mostly in the organization. It helps to know customers’ wants by studying customer behaviour.

    All companies need to install all types of technology and artificial intelligence. As our country is heading towards being more digital and sophisticated, companies need to use artificial technology and advanced technologies. If a company fails to accept the dynamic technologies it will not be able to survive and therefore, it will lose its existence.

    As everything is done through artificial intelligence it makes the company increase its ability to coordinate its activities regionally, nationally, and globally. Artificial intelligence assists the company to reach all the customers, but if a company does not have artificial intelligence they will be slow in doing their work, they might face loss.

    If a company does not meet the needs of the customer its competitors will stifle its development, and if a company is not advanced or updated the customers will also be apathetic-towards its service.

    Nowadays those companies who provide online services are the ones who are still surviving and earning a good amount and profit from those who do not provide online services. So, the company should ensure that every service they provide is online too. For example, people who are physically challenged, elderly people who cannot go physically to the service centre, but know about artificial intelligence and technologies can prefer AI-based companies to those who are not so advanced about AI.

    A company with advanced AI and technology gets its work done more effectively and productively than the competitors who do not employ dynamic AI and technology.

    Advantages of AI in Finance

    • It works faster and helps to make better decisions quicker by improving the quality of data.
    • AI helps to plan a useful and helpful way that is beneficial for a finance company and also for its customers.
    • AI helps to prevent fraud by its tools and efficiency to keep away from financial crimes. It helps by keeping track of previous fraud transactions so that they can be used to prevent getting frauded.
    • It helps to eliminate the mistakes that humans make and give better solutions that give more accurate data faster.

    Disadvantages of AI in Finance

    • It has a very high maintenance cost depending on the use.
    • AI also creates risks of unemployment as everything is done through AI which leads to less use of human creativity. But it cannot replace a human even if machines performance is productive and faster than humans as when there are complicated tasks when a piece of expert advice is required this work can only be done by employees.
    • It can sometimes be dangerous to let AI have full control as sometimes there are some errors due to which there can be a problem in data and sometimes it can be difficult to detect it.
    • As there is more and more use of technologies or we can say AI it leads to a decrease in the use of human creativity.

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    Conclusion

    Artificial Intelligence is very helpful in the field of finance as it provides different innovative services, saves time, keeps away from fraud, etc. It also helps to get a competitive advantage over the competitors as the customers prefer advanced and updated companies.

    AI have different uses like anti-fraud system, credit rating, risk management, etc. AI is very helpful to both the finance company and the customers even if there are some disadvantages we can find solutions to make improvements.

    FAQ

    How AI will transform the future of finance?

    AI will improve fraud detection, predict cash flow and can provide high-quality services to the customers.

    How does AI help in banking and finance?

    AI features such as chatbots, fraud detection systems, and digital payments are actively used in the finance industry.

    How will AI affect financial services?

    With the help of AI, you can get an edge over your competitors as it provides advanced security, more informed decisions, and reduces risk.

  • Best Email Management Tips for Clutter-Free Inbox

    Email management is necessary because all informal and formal conversations take place via emails only. Every morning when you open your mailbox it is filled with a number of new emails, but the harsh reality is that half of them belongs to the no sense advertisements from the shopping websites offering a discount, and other belongs to the service providers which you have subscribed for one time, but never uses it. More than half of the mailbox is filled with junk, but in this pile of junk our important emails get hidden and in some case accidentally gets deleted. The most frustrating task is to identify each email and then delete them carefully on the basis of importance.

    Thus, it consumes a lot of valuable time to sort and delete the email every morning. As per a recent study, a person spends around 1 hour a day on emails. But not anymore, as today we are determined to solve the issue of sorting emails and make your inbox clutter-free. Well, let’s see what can we do to make your mailbox neat and clean.

    Email Management Tips

    To keep your inbox clean so that you can differentiate the important mails and the not-so-important ones is very important. We receive an average of 100 emails per day and it is not easy to open and take a look at all of them. Some of the email management tips are given here to follow and keep your inbox clean.

    Unsubscribe Your Unwanted Subscription

    Many of you receive emails daily from the unwanted subscriptions, that you have used once. The answer will be numerous, these unwanted emails capture too much space in that inbox that your important emails get lost in that cluster. Well, if you want to unsubscribe from these unwanted emails, then we would surprise you with a simple email tip to rescue you from all the burden of these emails.

    • Log on to Unsubscribe from emails.
    • The first window which appears shows you all the channels (parties) you are subscribed to in your email.
    • Now press the unsubscribe button and unsubscribe all your waste emails and get your mailbox cleared. Well, in one second you will be free from all the clutter targeting emails.

    Use Email Tools

    Your email app has numerous functions already installed in it and using them smartly to do email list management can help your daily life easily. The email app has various features which you can easily opt to sort out your important emails. The features that you can use to achieve a neat inbox are:

    • Use the filter to remove all the unwanted junk mails from the inbox. Separate emails on the basis of important and unimportant emails, and only visit the important emails and delete all the unwanted ones in just one tick.
    • Learn basic etiquette to email for the best result. If you are in the “To” field, the sender expects you to do a certain action, and if you’re in the “CC” field, you just have to read the email.
    • Reply to the email instantly as you view it, but if by any chance you don’t want to reply soon then use the unread option and mark the email as unread to get the message later.
    • Don’t waste your time by regularly checking your email, check your email only twice a day to spend less time on emails and focus more on your priority work.
    • If you have more than one email account, then merge them together to prevent yourself from the hassle of opening different accounts for the emails.

    Use Email Management Application

    Nowadays a variety of Email management mobile applications are available for both Android and iOS users consisting of Artificial Intelligence. You can easily install the app according to its features and manipulate them according to your wish. One app can easily substitute the personal assistant‘s task for you and you can enjoy your beautiful day without any hassle of email.

    Top Email Management Tools

    SaneBox

    It is said to be one of the best email management tools out there, this tool is especially known for managing personal inboxes. The AI of SaneBox is aware of the person’s email habits and sorts them accordingly, as soon they get into your inbox.

    ActiveInbox

    Emails can distract you from your work, especially the unwanted ones, Active Inbox not only manage your inbox but also helps in scheduling your tasks. The tools divide all your emails and transform them into tasks task with deadlines.

    Clean.Email

    This email management tool helps you sort your emails amongst folders, like important, personal, updates, and others. The tool has a smart filter that helps you see the emails that have been divided into folders after the tool scans your entire inbox.

    Edison

    This tool is very much similar to Sanebox, you unsubscribe from any newsletter with just a simple click. It has some quite interesting features that helps you manage your inbox. It has a swipe action feature where you can swipe to check your emails quickly.

    Mailstrorm

    This tool is considered one of the best tools for filtering emails. Although, it is not an AI, bit it follows the trend, it has advanced spam protection features and can link up to different email providers.

    Conclusion

    So, above were some best email management tips that feature to sort your mailbox and free yourself from the hassle of searching the important email from the pile of unwanted emails. But make sure to use all the cool features of the email app and emerge all the email accounts together to reap the fruit of easy app benefits. To get a clutter-free inbox, start using the above techniques today and save your valuable time.

    FAQs

    Which is the Best Email Management Software?

    SaneBox is said to be the best Email management software.

    Is there a better Email than Gmail?

    There are some alternatives to Gmail and they are OutlooK, ProtonMail, Zoho Mail.

    What is Email Management software used for?

    Email Management software is mainly used to keep your mail inbox organised, so that you can answer those mails that are important quickly.

  • Will AI Revolutionize the Content Writing Space in the Coming Days?

    This article has been contributed By Mayank Jain, Co-founder of Scalenut.

    The growth of technology is phenomenal in the present day. There was a time when people were afraid of technology and blamed it as the primary reason for unemployment.

    But as times change, people change. Today people are slowly warming up to technology and seeing it as a medium to reduce their workload. In fact, advanced technology will take over 30% of repetitive and mundane job tasks.

    Technology-driven processes have surpassed many conventional ways and made our lives simpler. One such technology that is slowly making its presence felt across most industries is Artificial Intelligence (AI). Content writing is no exception.

    Yes, you heard that right. We are crossing a period where AI has started writing intelligent content for people to read. This post is about this futuristic journey, beginning from the fusion of AI and content creation. Before that, it is essential to understand about NLP, one of the core concepts of AI, that has multiple hats to wear in shaping the future of content creation.

    What is Natural Language Processing (NLP)?
    How is AI shaping the future of Content Creation?
    Challenges to AI in Content Creation
    Conclusion

    What is Natural Language Processing (NLP)?

    You might have seen Google correcting your search result with a “Did You Mean:” question or Alexa responding to your commands. That is actually NLP algorithms demonstrating their technical prowess.

    NLP is an element of AI that finds profound application in the field of content creation. We can even call it the backbone of AI-generated content. It understands texts and interprets human languages. In other words, it learns from actual interactions with humans. With enormous data under its hood thanks to millions of search queries and search commands, the NLP algorithm generates human-like content in any language of your choice.

    With that basic introduction, let’s dive into the main topic.

    How is AI shaping the future of Content Creation?

    The advent of automatic content writing tools

    AI-based content writing tools are being developed across the globe and can generate content thanks to various NLP algorithms embedded in them. Several businesses are already using such tools for their content creation needs. Semrush’s ‘State of Content Ops & Outsourcing Report 2021 confirmed that around 12% of participants admitted to using AI writing technology to create content.

    These AI content tools can generate high-quality content automatically and instantly. All that you need to do is give some context to the AI engine, such as keywords, target country, short description, etc. The tool then goes around the search engine and finds high-ranking content. Based on this, it comes up with a comprehensive and optimized content piece for you.

    SEO-driven Content Generation

    For a very long time, search engines have been working on rule-based actions. It required an SEO expert who could understand the rules and modify the content accordingly. But with the advent of AI and its infusion into SEO, the situation has changed drastically. Today, even a layperson can create SEO-enriched content thanks to several AI-based SEO tools. These tools perform a high-end search, show what your competitors are doing, keywords to rank for, the H1 H2 tags to use, and so on. Basically, the tools become your SEO guide and walk you through the different steps to rank better than your competitors.

    Enhanced Creativity

    Creativity is the foundation of any good content. And AI, a machine without a human brain, is slowly stepping into the world of creativity as well.  Again, NLP plays a role here. When AI interacts with thousands of humans, it slowly understands what the humans like to hear and what they consider interesting. The day is not very far when AI-based tools will develop unique and interesting concepts for your advertisements or even a book you plan to write.

    Even today, there are several tools that can come up with unique blog ideas and product descriptions based on one word you enter. In other words, it’s the perfect antidote for your writer’s block.

    Challenges to AI in Content Creation

    Unfortunately, the journey ahead is not a bed of roses. Several challenges will come up when we rely too much on AI for content creation. Here are they –

    Variation in tones and communication style

    Yes, artificial intelligence has indeed evolved to a great extent in “understanding” human communication. But that doesn’t make it better than us. AI can write amazing content without repetition of words or phrases, but at the end of the day, it tends to sound a bit robotic. The variation in communication exhibited by humans has not entirely been interpreted by AI yet and will be a mighty task in the coming days. As Founder & CEO of Codeless, Brad Smith quotes –

    “The biggest problem with AI right now is its overreliance on patterns and the probability of certain words or phrases showing up next to each other when you reference certain topics. It is merely taking what’s already out there on certain topics and then playing a Robocop version of the word game Mad Libs,”

    Expressing Emotions

    Humans have the ability to play around with the emotions of the reader through their choice of words. It might be a challenge for AI to emulate. Imagine two stories, one written by a human and another by an AI engine. Now, as a reader, there are high chances that you will feel some emotion reading the story written by the human as it’s been written by someone with actual feelings. Even though the story written by the AI engine might be good, there are chances that the reader may not be able to connect with it well.

    Inability to Make Decisions

    We write content based on our past learnings and can shift between different topics on the go. This is a lacking feature in AI since it is programmed to run only within a set boundary of related topics. For example, we can bring a concept of a movie into a blog on the stock market to make it interesting, but this might not be possible for the AI engine.

    Conclusion

    The future where AI takes control of content creation and SEO is not very far. But the chances of total domination still look slim with the array of challenges that lay ahead. But one thing is sure – AI is here to help all the content creators out there and make their lives simpler in coming up with world-class content with minimal effort.

  • How Technology Can Revolutionize Blue-collar Workforce Management?

    The article is Contributed by Shalin Maheshwari – Co-founder of Meraqui.

    Automation, digital platforms, numerous innovations, and technological advancements are all transforming the fundamental essence of employment in the corporate sector. Although these digital transformations were designed with white-collar labor in mind, they are also being developed for the blue-collar workforce.

    Undoubtedly, the internet, wireless networks, e-commerce, and social media have drastically altered how we interact, live, and work today, especially since the outbreak of the pandemic. Software and algorithms have advanced to the point that they can execute complicated, cognitive, and repetitive functions across numerous commercial applications. The automation provided by technology such as robotics, artificial intelligence, and machine learning promises enhanced productivity, efficiency, safety, and, most importantly, convenience. However, concerns evaluating the impact of machines on work and people have existed since the very invention of machines.

    Thus, let’s take a closer look at how technology can revolutionize blue-collar workforce management:

    Technology Will Not Take Up Employment
    How Can Firms Upskill Blue-Collar Workers?

    Technology Will Not Take Up Employment

    According to a recent PwC global survey, 37 per cent of workers are anxious about the possibility of losing their employment due to automation. Artificial Intelligence (AI) and Machine Learning (ML), for example, are making enormous gains toward developing cutting-edge products that can directly replace blue-collar labor. This is because these positions typically require labor-intensive tasks that intelligent machines can easily complete. Self-driving cars, automated cleaning gadgets, and food delivery drones are just a few instances of how technology can replace employees in their current professions. But this does not automatically imply that blue-collar employees will lose their jobs.

    According to a World Economic Forum report, automation would certainly provide millions of new job possibilities in the future. However, even in blue-collar jobs, professionals will be required to have a working grasp of novel technology such as AI, ML, and data analytics. Professionals will need to undertake major and ongoing upskilling as the nature of occupations changes and become more tech-driven.

    The growing influence of automation, technologies, as well as the accelerated pace of change in employee responsibilities and competencies, make a major shift in the workplace imperative. Many companies have recognized the need to upskill their workers and have already begun training personnel at higher levels of the business. But there are still a few.

    More companies should strive to match staff at all levels with future technology, changing customer needs, and market movements. Companies can make all of their employees capable of adapting to tech-driven disruption within the firm and across the industry by doing so. It also assists blue-collar workers in gaining the knowledge and skills they need to face disruption head-on.

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    How Can Firms Upskill Blue-Collar Workers?

    Companies must explain continuous changes to their workers in order to promote efficient learning and provide a smooth transition for the workforce. Leaders may see training blue-collar workers as a greater problem because they may not be familiar with or even aware of many of the cutting-edge technologies. However, if executives keep the following in mind, they can still carve out an enhanced workforce:

    Map the Skills Gap

    To find out where their blue-collar talent stands in terms of industry-specific skill sets and what competencies are necessary for the market for a successful transition, firms must construct a map of skill gaps. The data and advanced insights about skill gaps will essentially establish the groundwork for building a future road map for establishing development programs and mitigating the effects of the skill gap.

    Engaging Modules

    Organizations must provide compelling learning modules that are easy to understand for employees, especially in the form of videos and audio. They can also be translated into local languages to engage personnel in different parts of the world and make the content easier to understand. The course should introduce employees to the fundamentals and then build on that knowledge to expand their understanding of additional industry-specific principles.

    Customized Learning

    Customization of learning can help accomplish the objective of making modules more understandable for workers in a number of different ways. It’s crucial to remember that every employee is unique in terms of their skills, educational background, and even learning style. Since leaders and managers know their team’s problems and strengths better than anyone else, they can be involved in the formulation of training programs. Companies can use the buddy shadowing approach to get the best outcomes and foster an agile culture by encouraging peer-to-peer learning. They can use gratitude and recognition to empower employees while also guaranteeing nobody is left behind.

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    Conclusion

    It’s simple – technological advancements don’t have to frighten the blue-collar workforce; instead, they should encourage them to master essential skills that will keep them equipped for the future.

  • How AI Can Bring About Next-Level Enterprise Innovation?

    This article is contributed by Mr. Anirudh Kala, Co-founder, Celebal Technologies.

    When we talk about modern technology, one of the biggest inventions has to be Artificial Intelligence (AI). With its undeniable effect, AI is actually taking over the world. In an unbelievable way, it has become a part of our daily lives and is continuously on a mission to change our future. A decade ago, the Sci-fi movies that we used to watch are now unfolding in front of our eyes and are turning into a reality.

    Just like the whole world, India is also experiencing the same reality, in fact, such as the impact that, the 2021 Deloitte State of AI report found that Indian enterprises intend to increase their investments in Artificial Intelligence, based on the returns they have seen on their existing AI investments. Any kind of business can benefit from using AI and innovation in their organization. Becoming data-driven will level the playing field for such enterprises, therefore, allowing everyone to leverage all their data to build better user experiences and increase business agility.
    Artificial Intelligence is not just in the realm of buzzwords and hyped-up technologies anymore. It has gone from a good-to-have to a must-have part of every organization – big and small alike. The pandemic spurred on rapid digital transformations, leading every enterprise to establish a culture of continuous innovation to become more resilient. These digitalization journeys have led to a boost in AI adoption with many enterprises setting up data and analytics infrastructure as the foundation to build AI projects.

    In this article, we will find out how Artificial Intelligence can bring enterprise innovation. Let’s take a look.

    How AI Can Unlock Hidden Opportunities for Businesses?

    Artificial Intelligence has a wide range of applications in the business world. From process automation, and tailored customer services to conversational analytics and predictive analytics, the use cases for AI touch upon all the departments of HR, Finance, Operations, Manufacturing, Marketing, and others. Organizations can use AI to grow their business, increase revenues and business agility, and enhance operational efficiency.  

    • In the financial sector, machine learning algorithms are being designed to improve fraud detection, supplement the risk assessment process, deliver tailored customer recommendations and services.
    • Artificial Intelligence is also empowering the manufacturing sector with demand forecasting, inventory optimization, supply chain analytics, production planning, and many more diverse use cases.
    • With the ability to continuously learn and adapt itself, AI technologies can also help businesses make better decisions that will help predict market changes and help your business be competitive and resilient.
    • Personalized virtual assistants, recommendation engines, predictive analytics are also some of the ways enterprises are leveraging AI to craft lasting customer experiences and stem customer churn.
    • Infusing AI will not only fuel a culture of innovation but also cause immense benefits of reduced expenses, automated processes, faster insights, and improved business continuity.

    Need of AI-Powered Enterprise Chatbots and Cognitive AI

    Artificial Intelligence is showing its mettle in every form, down below some reasons are stated regarding the need for AI-Powered chatbots and Cognitive AI.

    AI-Powered Enterprise Chatbots

    AI-Powered Chatbots and Conversational Voice Bots are essential tools for all brands that want to deliver hyper-personalized experiences, they provide exceptional customer services. Engineering these experiences using conversational AI can boost customer satisfaction, customer loyalty, and increase customer lifetime value.  
    AI-driven Chatbots bring flexibility and versatility to the conversation to understand and even learn from most client queries in multiple languages. AI-enabled Chatbots are important assets for organizations dealing with a massive number of daily customer support queries or having limited customer support staff. One can also leverage chatbots for improving employee collaboration within an enterprise, bringing together business processes and people on a single platform.

    Accelerating Automation with Cognitive AI

    Cognitive AI applications involve embedding AI into cognitive tasks that traditionally require huge amounts of manual effort like scanning invoices and documents, extracting information from an unstructured pool of data, or analysing thousands of images. Face detection, social media sentiment analysis, speech recognition and analytics, risk assessment, knowledge mining, fraud detection, vehicle damage detection are just some of the many ways that AI can assist in improving manual and routine tasks.

    Adding intelligent automation into an enterprise has the benefit of not just replacing manual processes but will help add a dimension of process intelligence. This would involve aiding decision-making with insights into maximizing your process efficiency and predicting organizational changes that could affect your business.

    Conclusion

    Going into 2022, many organizations are going to increasingly move towards AI and integrate it with their business functions. Numbers of enterprises irrespective of their size and expertise will use the power of AI for cost-savings and productivity boosts of their organization. Low code platforms are also making it easier for enterprises to tap into the potential of AI. A proper AI implementation strategy is a must for anyone who wants to partner up with this technology. Partnering with the right technology and software solutions provider will ensure that you remain in the right direction to achieve excellence and a competitive edge.

    FAQ

    How AI will Affect Business?

    AI will mainly save time, costs and will make all the tasks easier, which are quite hard in an enterprise.

    Is AI the Future of Business?

    Undoubtedly, AI will be the future, if it’s not already one. 86% of industries state that AI is becoming the ‘mainstream technology’.

    What will AI do in the Future?

    AI will create 58 million new artificial intelligence jobs by 2022.