AI trends impacting enterprise growth

January, 2020

Our life is surrounded by the impact of artificial intelligence (AI), be it business operation or daily life. The AI trends mark the growth of the current market and project the latest advancements in the field of technology. According to secondary market research, the enterprise AI market is growing at a rapid pace and is expected to reach USD 22889.32 million by 2024, at a CAGR of 52.17 % by 2025. In fact, enterprises have started to experience massive improvement in the field of operational efficiency due to the involvement of AI. Solutions and services powered by AI are more secured and personalized than before. This led to customer satisfaction which in a way also altered the course of business. Since innovation is the driving force for enterprises recently thus, according to industry experts, 82% of organizations have already adopted AI to gain an advantage over their competitors and ensure an appropriate return on investment.

Trends impacting the business

AI trends play an important role in the way organizations operate lately. Enterprises recognize the importance of incorporating AI in their business since, it can improve operational efficiency, reduce cost and increase the overall speed of the process. It can also enhance the expectation of consumers. The following are the trends that greatly impacted companies worldwide.

Need for predictive analysis

Businesses that deal with a huge database, predictive analysis powered by AI can help organizations analyze the available data and predict outcomes before they occur. This technology is used by small scale organizations to analyze the market before entering the competition with the existing players. Predictive analysis also helps to meet customer satisfaction.

Using intelligent search

Since the focus of every service industry is to enhance customer experience, hence AI-powered smart search can enable consumers with a solution of contextual understanding. This feature helps the startups to focus on their target audience.

Enabling security through facial recognition

Enterprise security has gained considerable importance hence, facial recognition is one of the rising trends that determine improved security of an organization. This AI-empowered feature has personalized service for users. Also, these features ensure user engagement adding value to a product and its manufacturer.

Gaining cutting edge

Another important trend is the real-time decision making powered by AI. This helps companies to make an informed decision on their operating process which again impacts the efficiency of the organization.

Demand for transparency

Adoption of AI and machine learning has led to transparency in business. The startup ventures are readily adopting AI to gather more structured information on their customer base to analyze the requirement of the customers better.

The process of automation

Automation is an integral part of AI that can solve complex problems without manual intervention. This will save cost, time and energy. Hence, businesses dealing with massive data volume adopt automation to make the process seamless.

Thus, we can conclude that AI is establishing a new trend that enterprises are following to enhance productivity and enrich customer experience.

- Kathakali Basu
Content Writer
Infoholic Research