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With the coming year, artificial intelligence (AI) is only going to become more ubiquitous. It’s easy to mistakenly think that the only companies that care about AI are the giant tech corporation. Savvy small businesses are also keeping an eye on new developments and seeing how to incorporate it into their companies.

In a recent Forbes article, Roy Raanani, CEO and Founder, Chosus.ai said. “We are seeing the democratization of AI through open source algorithms, affordable computing power and AI specialized hardware. Google TensorFlow released open source software to allow anyone to build on Google’s own machine learning algorithms. Also the introduction of AI specialized hardware by Apple, Google, Tesla and NVIDIA Sis increasing AI performance by tens to hundreds, and enabling that performance in smaller form factors.”

What does that mean for your business? The short answer is a lot.

Top Trends in Artificial Intelligence

The coming year is going to bring AI to a greater degree in the business world, including small businesses. And because market share is always important, for entrepreneurs looking to capture a significant portion of it quickly, artificial intelligence is going to play an increasingly central role for competitiveness.

  1. Artificial intelligence specialists. According to PricewaterhouseCoopers, AI specialists will be joining more companies as AI becomes democratized. These experts will be working cross-functionally to ensure businesses have a clear strategy for AI that is incorporated company-wide. PwC notes that the AI specialist, “responsibilities should cover business questions, such as how to identify use cases and how to develop accountability and governance. It should establish and oversee enterprise-wide data policies. And it should determine technology standards, including architecture, tools, techniques, vendor and intellectual property management, and just how intelligent AI systems need to be.”
  2. Humans and machines.Entrepreneurs and business leaders understand that humans will have an integrated relationship with artificial intelligence, and it is merely a matter of creating one that will benefit humans. One of the fascinating developments in AI is that artificial learning can learn at a rate that is impossible for humans. The learning includes understanding not only what humans saywhen they speak, but also what they do not say because humans express lots more than words when they talk through the tone of voice, speed of speech and body language. Customer service AI will be able to provide an even better customer experience by knowing what humans say, and also what they’re not saying, but is likely their intent.
  3. Video conferencing for business communication. AI has entered the business meeting rooms as virtual assistants. One of the leading video conferencing companies, Zoom, published the results of a survey to more than 1000 users of their product. On average, people who participated in the survey spent 8.8 hours in meetings each week. 73 percent of people thought that AI would have a positive impact in their meetings. Some of the AI tasks that most excited people, which is already happening and will only increase, is taking minutes, scheduling, and meeting transcriptions. Remote workers were particularly enthusiastic about AI becoming an integral part of video conferencing because, “… they rely so heavily on virtual meetings to communicate that they are also eager for these technologies to make it easier and more immersive for people who are not physically present.”

2019 promises to be a year of enormous advances in AI with more powerful tools and perhaps a platform or two that we don’t yet know, but in six months early adopters and entrepreneurs will be testing in their businesses. As artificial intelligence learns more about the needs of humans, and business leaders figure out how to integrate human workers and technology to gain market share, we can only expect more significant change and evolution.

 

Author of “Not Your Father’s Charity: Grip & Rip Leadership for Social Impact” (Free Digital Download)

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