How Artificial Intelligence is Changing the Way We Do Business
hen technology moves forward, it creates a ripple effect. Technological advances change the way we live, the way we communicate, and especially the way we work. The biggest technology game-changer to watch in 2019 is artificial intelligence (AI).
One Technology; Many Industries
One of the reasons artificial intelligence is so important is that it can be used in such a wide variety of industries. AI is making a huge impact in the technology industry, naturally, but it’s also influencing everything from health care to national defense.
Artificial Intelligence in Retail
One such example is European online fashion retailer Zalando. Their new, gigantic fulfillment center is equipped with a robotic goods-to-person system created by automation company GreyOrange. This innovation will support the work manual employees are already doing, and will allow Zalando to satisfy consumers’ increased demand for receiving more products at a faster rate.
Artificial Intelligence in Medical Research
Pharmaceutical research is a process that can take over a decade, and the results rarely lead to FDA approval. However, researchers are looking at how AI can make the process shorter and less expensive.
Artificial intelligence is being used to predict reactions to medication, discover new uses for current drugs, and automate molecule design. Pharmaceutical giants like Johnson and Johnson, Roche, and Bristol-Myers Squibb are investing millions of dollars into AI research, and we expect those numbers will grow as the technology moves forward.
“It is imperative for companies to identify their key project drivers and objectives at the outset of the project. This allows the site selection team to investigate all viable options and make a sound recommendation to ensure that the company is well positioned to make the best possible decision. These decisions have long-term implications for company owners, their employees, and clients.”
Artificial Intelligence in Real Estate
Artificial intelligence is even influencing the world of real estate. Many homes are already taking advantage of “smart home” technology, but this is just the beginning of AI’s impact. The predictive analytics that artificial intelligence provides are being used to manage resources and make buildings more energy efficient. In the future, this technology could also be used to improve home security and to perform preventative maintenance.
Artificial Intelligence in National Defense
Artificial intelligence may soon play a role in keeping our nation safe. The Pentagon recently released their first artificial intelligence strategy report, and in it they expressed a desire to use AI for military and defense purposes. Other nations are already investing in this technology, and the Pentagon feels it is important that the United States consider this action as well.
Challenges to AI Implementation
The United States still has a way to go before it sees the full possibilities of artificial intelligence implementation. Currently, 85% of executives believe that using AI would give them a competitive advantage, but only 15% of businesses have incorporated AI into their processes. The cause for this gap could partially be caused by a lack of skilled laborers who are trained in AI technology.
How Can You Move Forward?
In our Economic Development Trends Report, we take a closer look at how one global logistics company used artificial intelligence. The information we’ve gathered will help you make informed, forward-thinking decisions about growing your business.
Has your business considered how it could use artificial intelligence to move forward? If not, 2019 is the time. Being an early adopter of AI technology could put you miles ahead of your competition in the months and years to come. If you’re looking for an advantage in 2019, artificial intelligence could be the answer.
If you need help figuring out how to integrate AI into your workflow, Ginovus can help you secure the financial resources to offset the costs of these advances.