December 15, 2017
Did you know that there’s more than one way to use artificial intelligence (AI)? This question may feel rudimentary, but take a second to consider – how many different AI applications can you name?
If it’s just one, that’s perfectly OK. If you can name three or four, nicely done. But what about eight?
In the groundswell of attention toward AI in 2017, it’s become too easy to see all AI systems as the same. The media hasn’t helped, often promoting a single vision of AI that’s deviously smart and here to take our jobs. At PointSource, we know this is far from the truth and we’re always exploring new AI capabilities and applications.
AI Means More Strategic Planning and Better Customer Experiences
Our Globant AI Studio has been working to advance our operational plan where intelligence has a place in every interaction. When we allow our intended business outcomes to guide our technology investments, it’s easy to see how AI applications have the flexibility and sophistication to improve a wide range of customer experiences. This is great for all parties involved, providing more personalized and enjoyable experiences for consumers and helping employees do their jobs with greater insights and efficiencies.
AI is here to help, but what that help looks and feels like can be quite different from what people expect. To bridge that gap, here are the eight AI applications we think all businesses should be watching most closely, as well as a taste of how they will enhance operations in 2018:
From automating outdated processes to adding more intelligence into decision making, AI applications like these modernize business strategies and operations. There’s no denying that AI will help brands address 21st-century needs and develop stronger customer experiences. Now, it’s up to businesses to decide how.
Real-World AI Use Cases
If you think eight applications sounds like a lot, you’ll be blown away by the number of industries ripe for AI integrations. In addition to those broad categories, emerging solutions are due to drive that number higher. What are a few of the industries we’re excited to see drive greater ROI from AI in 2018? Retail, entertainment, investment banking, pharmaceuticals, leisure and travel, insurance and banking.
One of AI’s biggest selling points is that its use cases don’t have to be extreme or incorporate the technology’s full sophistication. No matter a business’ current digital capabilities and framework, AI has tons of practical and accessible applications that still offer value. Let’s take a closer look at two AI examples that capture the diversity of AI applications today:
Decision automation for health insurance:
Underwriting is the bedrock of the insurance world, but it’s certainly no employee’s favorite task. Not only is the process time consuming, but it’s also fairly subjective and can become inconsistent when humans are solely responsible.
Fortunately, AI can automate these early insurance decisions, handling the bulk of routine underwriting requests in no time at all. What’s more, because AI systems can aggregate and learn from massive data sets, the technology will only become more effective and consistent as insurance providers scale. For example, the AI system will begin to recognize similar underwriting scenarios and understand how to handle them with minimal variation, ensuring uniform, high-quality experiences no matter how many customers there are. It is important however to understand that these systems are augmenting the human interaction and experience. Inevitably, you need a human to provide oversight but by helping to perform their duties more efficiently, our throughput and accuracy increase.
Information filtering for product delivery:
Whether it’s a product we just ordered or a pizza sent out for delivery, AI is helping drivers optimize their routes by filtering huge amounts of transit information to dynamically generate the most efficient paths possible. The AI system can process multiple factors at once to ensure all context is considered before making a decision. The system can even update in real time based on changing factors, such as weather, traffic or even other delivery driver behaviors.
As these examples showcase, AI will bring with it both traditional and more creative use cases. With the eight applications mentioned above, AI opportunities are expansive and always growing.
Still unclear how your business would benefit from AI? Our team of digital transformation experts are ready to help you through that discovery and execution process. Reach out today!