Artificial intelligence (AI) is no more the theme for science fiction or Hollywood movie. The fusion of cyber and the manual task is transforming the economic and security landscape not only in India, but across the world. Artificial intelligence is not something new. However, AI is an important development and consumers in India will witness its prominent role – both in society and at work – in 2017. In addition, there is expectation that the use of artificial intelligence will proliferate across multiple business, social and government spheres.
Studies have revealed that as more and morebusiness are tapping into this new wave of cognitive analytics, AI will drive significant investment in application installation, customization, integration, training and maintenance. Companies are also well-prepared to spend on IT hardware and services including computing power, graphics processor units, networking products, cloud computing and storage.
Below listed industry areas is expected to be largely effected by the AI Technology:
AI intelligence in corporate companies: India is the hub of Information Technology. AI in corporate companies will empower the workforce to progress towards enhancing the level of growth and autonomy. In addition, the stakeholders have been using AI systems to make insightful and informed decisions and this has helped to achieve competitive advantage through higher value add-on undertakings. Business leaders and employees will no doubt see big changes the coming years in this area.
Transportation: This is one of the industries where there is maximum requirement of human labor. AI technology is expected to be applied to other modes of transportation, besides the already existing self-driving cars. This is expected to solve traffic congestion, risk of accidents and reduction in energy consumption. Indian market has witnessed the benefits of personal self-driving cars but its commercial use is expected this year.Healthcare: Lack of proper doctors, healthcare centers, testing labs and medical facilities in rural India has resulted in high mortality rate from diseases. Several researches have proven that AI driven machines have higher accuracy for diagnoses than human doctors. AI based robot surgery is expected to see tremendous changes.Customer Service: AI technology has made customer service sector more efficient. Friendly robots that mimic human conversations provides services that are quick and easy-to-access for customers. This technology will be implemented on a broad scale by the companies, to provide best customer service and also as a cost saving strategy.
Despite the recent demonetization and economic volatility in India, we can expect that there will be a rapid and substantial expansion of financial services as the government’s regulations and legislations are promoting growth in these areas. It is important to note that the adoption of AI technology is not about human elimination, but the elimination of manual and repetitive tasks through software robots.