AI of the future: No longer for multinational corporations

Only ten years ago, most people thought of artificial intelligence as a technology made for the futuristic world— of flying cars and having robots as friends a la The Jetsons. But in 2019, AI is really no longer an intimidating technology. Most don’t realize that some of the apps and services they regularly use today employ AI to deliver their functionality. And why not? With AI, one can have millions of data analyzed in seconds to streamline processes that were once handled by multiple employees. According to Juniper Research, retailers are expected to spend $12 billion on AI services by 2023, more than triple the amount the industry spent in 2019, at $3.6 billion.

Most of these companies use “deep learning”, a category of AI technology which leverages supercomputers to mimic or pattern its functions to that of the human brain. Doing so helps it to analyze and process data in a smarter way. Thinking of it in this light: if computers could only answer arithmetic questions before, today they can handle calculus problems in a few seconds.

Grab, Chatbox PH, Saphron, and Kalibrr are some of the prime examples of how apps and services became trailblazers in their respective industries, thanks partly to their use of AI. 

AI’s Imminent Impact

The fact that it’s no longer just industry giants utilizing AI to provide customer solutions proves the technology is now fully democratized. It’s no longer a tech exclusive to companies with big budgets, nor is it employed for more advanced processes. It’s now become an everyday part of most people’s lives, albeit in many cases unknowingly. These companies’ efforts just show that AI is bound to create a lasting impact in transforming industries. It’s only a matter of time before other legacy industries feel the need to use it, too.