AI has fueled organizations and the way they work – emerging AI trends, tools, and technologies contribute to the adoption of Artificial Intelligence for business growth. As per the McKinsey Global Survey 2021, more than 56% of companies have actively adopted AI in their business functions. Many more organizations apply the power of AI to increase business value, revenue, and customer satisfaction.
However, organizations strive to hire AI experts who can mitigate Artificial Intelligence challenges in businesses with the relevant skills. This is why the candidates with the best AI certifications are highly in demand who can use the relevant AI skills and knowledge to manage the data privacy concerns.
Businesses should develop a clear awareness of the AI paradigm and prepare AI strategies to adopt AI and bring business value to the firm. It is estimated that Artificial Intelligence will add about USD 13 trillion to the world economy in the next decade.
The surge in global AI adoption
Organizations adopt AI and continue to invest in technologies to automate the customer service requirements – for example, chatbots, virtual assistants, and so on. About 52% of the telecom companies use chatbots for their operations.
Other AI leaders implement AI-driven solutions like data mining, language translation, Human Resource automation, product enhancement, etc. AI strategies also penetrate the market to streamline the processes and boost production standards. AI adoption is a renowned strategy in software, telecom, and financial segments and is picking up in the healthcare segment too, 38% of providers utilize computers to act as the diagnosis assistants.
Nevertheless, companies of today have a significant obligation, i.e. to train the existing employees, focus on AI education, and hire the new AI professionals in line with the updated AI trends that enrich the overall business development.
Why organizations adopt AI
The global AI market value is USD 39.9 billion and is currently expected to take a hike every year at a growth rate of 42% until 2027. AI is one of the most prevalent technologies and in demand due to many reasons as shown below.
- Better customer service and support
AI can be used to provide intelligent suggestions in emails, automated ticket generation, complaint routing, and interactive voice response systems to solve customer issues or queries in the least time.
- Target marketing and lead generation
AI helps firms to trigger the marketing campaigns, ads for the specific customer segment, promotional messages, product recommendations based on the previous purchase, speech recognition, etc.
- Management of the HR functions
AI helps the HR department to implement the hiring of candidates and build custom training for the employees. The AI-powered platform can help to make recruiting easier with intelligent classification and analytics.
- Supply-chain management and warehouse safety
The AI-driven systems can help businesses to manage inventory, improve safety for the warehouse staff, plan the travel route, identify delivery methods, etc. Amazon equips a Waterhouse management system with all the operations aforementioned, accelerated by AI.
- Enhancement of business security
AI has contributed to the development of many advanced antivirus software, trained to detect malicious links and phishing attacks. iPhone FaceID is such an example where AI is used every day for cybersecurity.
- Detection of fraudulent transactions
AI implements data processing quickly and helps to identify the patterns in financial transactions. Financial institutions and banks have begun using AI-driven fraud detection software to identify cyber threats and intrusions.
- Safer workplace for the employees
Artificial intelligence uses surveillance cameras, drones, etc. to make the workplace safe and ensure that the workers are secure against risks. AI and IoT collectively help to identify any possible signs of risks or accidents.
- Improves the productivity of employees
Since AI helps in automating the recurring operations, it saves the energy and time of employees. It helps them to complete the projects and avoid additional expenses. Hence, this helps to optimize the resources and facilitate productivity improvement.
What should organizations do to adopt AI?
- Align the organization's processes with AI
To deploy Artificial intelligence, enterprises should recognize and overcome the Artificial Intelligence challenges that come with the adoption. Businesses should recognize the extent of investment and ways to stay up to date with periodic investments. It is significant to realize where to apply AI in the organization's process.
Amazon Go, the biggest convenience store concept requires no checkout. The AI technology can track the items you choose and automatically calculate the charge through the Amazon Go app installed on your phone. There is no checkout, and cameras watch you detect and charge every product you put in the bag.
Another instance is Facebook, which uses AI and deep learning to transform the unstructured data into a structured form with help of a text understanding engine called DeepText. They can understand the emotional sentiment of users and the content in a flash of seconds.
- Upskill current resources and hire skilled resources
Companies hire Artificial Intelligence professionals with industry-based AI education and qualitative skills. Only experts can handle the complexities of AI adoption and make sure the processes are aligned to emerge as AI leaders.
It is crucial to set a timeline for the pilot project and work hard to achieve the target. Companies should also upskill the existing professionals with the present advanced trends and let them stay ahead of the competition.
Make sure they are aware of finding balance and using AI feasibly to expand to the novel markets. Give employees opportunities to build their skills with AI certifications and get used to the detailed AI implementation process.
- Confront and update the security challenges
One of the major challenges that the globe faces in the next decade would be the lack of cybersecurity measures, as per the Global Risks Report 2021 of the World Economic Forum.
Since AI is embedded globally, confusions rise about how to secure the systems and countries against any possible attacks. Now, about 47% of companies have implemented the scanning of both testing and training data to enable detection and data protection.
Firms should use mitigation practices to stay away from security challenges and use AI-based security to protect the business processes against losses and risks.
The giants such as Meta, Amazon, and Google use AI and ML to persuade the customer base. To survive with the growing competition, SMEs are also forced to tag along and adopt the AI-based implementations or processes which have only helped them grow.
While the future of AI is promising and secure, the opportunities that AI brings to organizations are surplus and quality-centric. The most sensible way to mitigate any risks that come with AI adoption in organizations is to train the employees and mold them with proper education.
The new candidates should be hired with high-end AI skills. Nevertheless, AI certifications can help the learners with an ideal ecosystem to learn about the advanced phases of learning AI and get hired by the top companies.