Artificial intelligence will be omnipresent in the coming years. In their segment leading companies will use them to drastically improve their services or create new functions.

Artificial intelligence will have a significant impact on the structures within a company over the next five years. Two major factors are responsible for this: First, the technical development of recent years and, secondly, the billions of dollars spent on commercializing artificial intelligence. Research and development in this area are therefore likely to be continued in order to further develop this progress.

Artificial intelligence helps man and machine to work faster and more accurately

Already, many companies are working to adapt artificial intelligence to cognitive technologies for a variety of industries and business functions so that they can be sold and implemented for the masses. While not all providers will be successful in the marketplace, it is important to drive change together.

This is evident in the performance of these technologies, the progress of which has already been observed in the past and which have improved considerably in recent years. Technology companies are already using artificial intelligence and cognitive technologies - such as computer vision and machine learning - to improve products or create entirely new product categories.

Benefits of using AI in business

The benefits of using artificial intelligence are obvious to many companies regardless of industry. With the help of artificial intelligence and cognitive technologies, decisions can be made faster and actions can be implemented more quickly. This is especially useful in areas such as automated fraud detection, planning and control.

But also in medical diagnostics, in oil production or forecast generation, the benefits of the technology become clear. It is also important here that better results are achieved in a short time through an optimized prediction. For example, technologies such as computer vision based on artificial intelligence are helpful. So it's all about these technologies helping man and machine to work faster and more accurately.

More efficiency with lower costs

The use of artificial intelligence and cognitive technologies can save labor costs, which are an existential burden especially for small businesses or start-ups. For example, Domino's pizza delivery service has capitalized on technology and installed an automated, telephone-based customer service app for its own purposes using voice recognition. Diverse complex tasks that are difficult to do manually are transformed into a simple step through the use of AI technologies. This helps companies enormously in the implementation of corporate goals.

By adding new features or enhancing existing product and service innovation (by embedding artificial intelligence in products), artificial intelligence is driving a whole new class of products that bring their own market potential.

Examples of the advances made so far by AI and cognitive technologies are easy to find. For example, the accuracy of Google speech recognition technology improved from 84 percent in 2012 to 98 percent in just two years. Facebook, in turn, reports in a peer-reviewed paper that sees its technology "deepface" with an accuracy of 97 percent faces on a picture.

Outlook: AI on the rise

Artificial intelligence will be omnipresent in the coming years. Technological progress and commercialization will increase the impact of these technologies on businesses over the next five years.

An increasing number of companies are likely to find AI applications that are ideal for their purposes: leading companies in their segment will use these innovative applications to dramatically improve their performance or create new capabilities that underpin their competitive position , Challengers need to quickly become aware of the many possibilities of Artificial Intelligence, and how this technology can drive innovation and drive business development.