08/25/2017

The Golden Age of Artificial Intelligence: Are We There?

Trend #48 from MBAResearch

In our June Action Brief. we explored how technology is altering business operations. An aspect of that was Artificial Intelligence (AI). Now, let’s take a closer look at artificial intelligence to examine its potential for further revolutionizing business operations.

Business Implications
A wide availability of graphics processing units (GPUs), almost infinite storage, and the Big Data movement have all helped AI development flourish over the past three years. A recent survey indicates that 39 percent of workers are using some aspect of AI at work, 87 percent say their job will change by 2020 because of AI, and 76 percent indicate that “some” or “half” of their job could be completed by AI or other technology right now. It is predicted that AI bots will power 85 percent of customer service interactions by 2020. AI startups received more than $5 billion in venture-capital funding in 2016, according to one report. Revenues from cognitive systems and AI are projected to reach $47 billion by 2020. The advent of quantum computing will further fuel AI-embeddedness in the workplace.

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