Will Artificial Intelligence dominate the world?
Updated: Aug 24, 2022
Artificial intelligence is the technology of making machines perform tasks that normally require human intelligence. With AI, machines can think and make decisions like humans, with the guidance of a human-defined end goal. For example, Automated vehicles need a destination before the action of driving starts.
Artificial intelligence is transforming business productivity, driving innovation, and shaping the future of businesses worldwide. Building on our deep AI expertise and commitment to customer success, we at First Digital are focused on helping businesses across industries harness the power of this transformative technology.
AI can be seen as an end goal on a digital transformation roadmap, and along the way are two milestones which can be achieved: big data (data collection in huge volumes) and Automation (automating manual processes). AI is achieved in phases and does not happen without planning.
The AI strategy:
Achieving business goals be it financial, customers or employees has become dependent on technology and, more so, on the move towards Artificial intelligence. AI is now part of many businesses’ strategic focus points as it is used as a market differentiator.
Artificial Intelligence will help deciding on the next steps to take when organisations face a myriad of options and opportunities. AI systems will be able to create fake data and models to test out different scenarios for various business decisions, improving overall outcomes.
Can we capitalize on AI?
AI has been used as a successful disruptive technology by companies like Facebook, Amazon, and Tesla. They have capitalized on the initial disruption of the market and the adoption of technologies through AI.
Although AI is now less of a market disruptor, it is important for digital transformation, and it still carries a lot of value to businesses. Business adoption of the AI journey is becoming more of a necessity than a nice-to-have. Looking at the history of technology it has taught us to adopt rather than die. When the digital photography era started, KODAK could not adapt quickly enough and the age of darkroom photo development “for all” left KODAK in a dark space.
What is the value of moving towards AI?
“The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030.” This equates to quite a big piece of the pie indicating growth opportunities for users and suppliers in AI. Artificial Intelligence Market Size Report, 2022-2030 (grandviewresearch.com)
Value can be achieved in each of the phases in the move to AI.
Milestone 1: Big Data
Enabled analytics: Once data is gathered, qualified, and stored, analytics can be applied giving insights and improving business decision-making at a faster pace than before. “Knowledge is power” Sir Francis Bacon
Milestone 2: Automation
Reduced risk: Reduced human error on mundane tasks enabling humans to focus on tasks where human intervention and soft skills are required.
Employee focus: Reduced task switching through Automation and AI, handling mundane, distracting tasks to enable focused employee behaviour.
Milestone 3: Artificial intelligence
Process efficiencies: AI can learn and inform with the combination of big data and Automation ultimately increasing efficiencies.
AI can be implemented in phases; it is advised to start with the foundation to get into the market to gain the associated benefits. It is never too late to Automate. The AI question is now more about when you should adopt rather than if you should adopt.
I am Willem Bisschoff, Project Manager at First Digital: Automation, my strengths are operational execution and project delivery through multi-skilled teams. I have a passion for people and technology.
At First Digital we have been forging partnerships with our customers to guide them on their automation and integration journey and through that partnership assisting them to harness the fourth industrial revolution. Contact First Digital if your organisation has questions on how to harness the fourth industrial revolution.