Artificial Intelligence

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Why AI-powered Competitive Intelligence is a Necessity

AI implementation grew a whopping 270 percent in the past four years as per a report by Gartner. Estimates suggest that by 2022, the enterprise AI market will be worth $6.14 billion.

How AI augments Retail outcomes

One of the biggest outcomes of the digital revolution has been the overwhelming amounts of data being produced every single day. Estimates suggest that 2.5 quintillion bytes of data is being generated each day. With greater digitization and the proliferation of IoT based devices, this number is set to grow.

NLG: A single para worth a 1000 in Pharma

Today’s industries are storehouses of data. Though big data is valuable, what we have is overflowing data with no real insight. Gathering actionable, data-driven findings that create business value is a herculean task for any industry and it is even more challenging for the pharmaceutical industry. This is due to availability of excessive amounts of data coupled with stringent national and international regulations.

The patient will see you now!

As the pharmaceutical sector becomes increasingly democratized, patients are emerging as key decision makers. Digitally enabled by the entry of non-traditional tech companies such as Apple, Facebook and Google, they are pushing the sector to move beyond the pill and provide personalized care.  Here are some ways in which pharma companies are applying AI and IoT to build digital convergence across the pharmaceutical value chain.

Micro Targeting: a new ingredient for customer engagement

Humans are inherently lazy, which may be a trait left over from our ancestors’ days of conserving energy for the next hunt. Our nervous system continuously optimizes movement, in real time, to use the least amount of energy possible; therefore it comes as no surprise that since time immemorial, humans have had the fascination to build things which are less time consuming and more efficient. The idea is to make human effort less redundant and more valuable than what currently exists.

AI’s Potential in Changing the Workforce

Talking about the future without artificial intelligence is impossible.

After the paradigm-shift in our work culture due to Big Data and the Internet of Things (IoT) transforming everyday devices into smarter ones, AI is now making analytics even more efficient and productive.

Data volumes are exploding and there is more data created in the past two years than in the entire history of the human race. By 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet.

The Emergence of Voice Search

The growth of voice search has been exponential in recent years. There is no doubt about the fact that technology is changing and our interaction with the internet is also transforming.

From small-tail keywords to long-tail ones, we are now moving towards ‘voice’. You can now pick up an iPhone and ask “Siri” to play a song of your choice or even shout, “Hey Alexa” to find Italian recipes for your next feast. There’s a growing tendency among users to rely on voice command or digital assistants to find answers.

Why is AI powered Customer Engagement a must now?

In 2017, Aeromexico launched a customized AI system, a neural network that was built on the foundation of machine learning.

At the Facebook’s F8 Global Conference, the company announced that it went from zero to 96% automation of its customer service function and that its AI-powered platform, which learns as it goes by scanning and analyzing previous customer service transcripts, reduced the average customer service resolution time from an average of 16 minutes to just 2 minutes.

THE THIRD WAVE OF AI – BE MORE HUMAN

When the British mathematician Alan Turing designed the Turing test in 1950 as a means of measuring whether a computer was capable of demonstrating intelligent behavior equivalent to or indistinguishable from that of a human, he unleashed what was perhaps the first known benchmark for the performance of Artificial Intelligence systems.

How AI makes data more “Intelligent"

In the fast-paced world of today, there is a constant urge for companies to grow, and this has led to stiff competition among them.

This is where Data comes in and now more than ever, data quality is the primary determinant of one staying above the competition.

With tons of raw data available and the many advances in technology, data segregation and analysis have become more accessible for marketers and growth hackers alike. However, decision makers do not have a high level of confidence in their systems with providing them conclusive information on operational data.

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