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Artificial Intelligence (AI) and Machine to Machine (M2M) technology are changing the world in each and every aspect we look into. As this type of technology progresses, it will shape the way in which each business function will work with one another. A report from Gartner states that by 2020, 85% of customer interactions will be managed without a human. This is an extremely high statistic and one which should not be taken lightly.
First and foremost, any kind of automation allows focus to be given to other areas which may not be so easily automated and require more of a human element. Automation via AI or M2M technology can simplify and remove time consuming & repetitive manual tasks, enabling senior professionals to concentrate more on aspects such as decision making and customer & user experience, using the intelligent insight based on data learning and algorithms from AI.
Think about all the time that is spent writing surveys, conducting in-depth interviews, holding focus groups and generating reports. Now imagine cutting that time in half, or even less. This is what AI is striving toward: saving time.
With the continued development of different AI features like Natural Language Processing (NLP) and Natural Language Generation (NLG), AI is growing its capability to understand different qualitative and quantitative data fed to it. This means programs can write individualized reports based on keywords or subject areas that a client is interested in, which can save hours slaving over PowerPoint.
AI can produce accurate data simply because it reduces the chances of human bias. In a focus group, information is collected by interacting with people. The person conducting the interview will remember things in a certain way; therefore, creating a chance for bias to reflect in the report. With AI, human bias is basically eliminated because the program processes informational factoids only.
Further, AI can improve customer relationships. It takes care of data collection and processing so your team has more time to investigate interesting findings and personally connect with the client.
In the long run, AI is expected to cut down redundant, administrative jobs which might not require a full time human resource. On the contrary, it will also add new roles and opportunities in the market, for which employees will have to upscale themselves with more specified skills like client communication and creative problem-solving.
AI will create a change within the organization, but it will be a change which will open up many new opportunities to have a competitive edge in the market. Are you ready to embrace the change?
Chief Light Bulb, Lymbyc
Lookout for Leni’s ability to solve for your “Why” business questions. Trying to find out why a share drop happened between 2 periods? Why a certain brand is gaining more than you?
Leni is going to give answers to such important but complex questions. How?
Leni will first identify the significance of the change and how different it is compared to the movement in the past - not just for you but she will also compare it to the different players in the market.
She will then use a drivers module to identify the different confounding variables that could be impacting the measure in question and present to you with the same in the order of importance that will need your attention.
In the output, you would be able to see how have the dependents and the independents moved in the past - for ease of understanding for you and the stakeholders.
All this in real time, so that important business decisions don't have to wait.!!
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Lymbyc, being the world's first virtual analyst has proven its mettle in the industry . Be it the "Most innovative Data science Product" by Aegis or "the top 10 emerging Analytics startups in India to watch out for in 2018" by Analytics India Magazine, Lymbyc is making heads turns and making headlines