Technology in all its multi-faceted aspects has changed the world we live in and this is a fact that cannot be ignored by any business no matter the industry. Smart technology is quickly and progressively evolving through the partnership of the AI/IT/Cloud conglomerate. Very soon a global AI supercomputer is expected to run the entire Internet of Things through the Cloud, while mega-cities (on Earth and in space) will be constructed with the help of AI Robots and 3D Printers. Smart homes, cars and planes are already a reality, robots like Sophia—the first AI robot made a citizen of Saudi Arabia— are acquiring a consciousness of their own through the various AI processes like machine learning and cognitive/ emotional intelligence, and AI personal assistants help guide customers and find solutions for their needs. For the business world the progress made during only the past decade has been especially considerable, and there are many reasons why companies should keep up to date with the latest technologies and upgrades.
Keeping up with competition is vital in a thriving and ever more saturated international marketplace where bigger competitors make the rules. Knowing which tools to use for your specific single or multiple needs is the first step for any company. The tools are there, but in order deploy and implement AI computing applications you must first learn to use them and understand what purpose they serve. It is also useful to train the workforce and diversify the activity and skills of your IT department so they can identify all the advantages this tech can bring to the company and the many apps and packages that fit the company’s individual needs.
For small businessesthe essential components of Natural Language Processing (NLP) can give them a jump-start to increase market presence/visibility and thrive. These include data and text mining, through which AI algorithms sift through all the material found on the world wide web to filter, process and deliver to the appropriate departments any data that is pertinent to a company’s business strategy. Text mining can recognize human language, phraseologyand syntax with the help of Semantics technology,separate structured data (fixed in location and thus easily identifiable and processable, like e-mails, blogs, PDF) from unstructured data (not fixed- HTML, video and audio, etc.) and make sense of both. By collecting the entire search history of customers and their social media interactions AI can predict changes in customer demand/ satisfaction and anticipate new consumer trends and behaviour, thus preventing a crisis before it develops. Through OSINT (Open Source intelligence) the gathering of valuable knowledge from multiple fields of human industry (drawn from virtual libraries, academic and business journals, consumer reports, etc.) can help a business adopt new strategies in their business ventures and expand to other areas to capture new audiences.
Migrating to the Cloud is especially useful to save on energy costs as well including expensive memory drives, computers and cables, while ‘Mobile Offices’ (instead of ‘physical’) are already becoming a trend as smart technology and apps improve daily. Innovative approaches to Machine Learning and Cognitive/ Emotional Intelligence includeaudio/visual facialrecognition to mimic not only facial expressions but also emotions, and Virtual Reality is bound to be employed more and more in the business world by CEOs, employees, clients, customers and HR depts. to communicate with each other and conduct relations.