Necessity is the mother of invention. A need defines the scope of a new product or a service. Before the advent of mobile phones, communicating over long distances at remote places was quite a task. When the first mobile was launched, the market identified the core need for portability of devices for communication purposes. Mobile has become such an integral part of our lives that life without one seems difficult. Such a time is not far when life without artificial intelligence would not be imaginable. From the recent examples and technological revolution, it is evident that ai solution is here to stay for good. It has forever changed our world view.
Survival of the Fittest
The digital ecosystem is reliant on this technology for many reasons. B2B competition is one of the main reasons for artificial intelligence to prevail. In a world dominated by an oligopoly of firms, competitive advantage is what keeps them alive. The point of differentiation gives you the necessary kick to maintain growth and productivity in the market. Artificial intelligence is the trigger for that competitiveness. For instance, a business that has AI products is likely to flourish more than the one without it. Artificial intelligence gives the advantages of agility, cost-effectiveness, convenience, and rapid growth. With every department like marketing, and finance run by artificial intelligence, businesses are making progress by leaps and bounds. Whereas the business entirely at the mercy of old and traditional methods is likely to fade soon. To ensure this survival and competitiveness between market players, the application of artificial intelligence is imperative.
Unapologetic and Unforgiving Customer
The consumer of today has become smart, up to date, intelligent, and unforgiving. The consumer knows what is best for them. Businesses no longer are in lead, the consumer market drives the invisible hand of the economy now. Customers no longer want the old school technology run on huge machinery. He or she knows the value of artificial intelligence and how it has revolutionized our lives. To maintain this smooth and fruitful relationship between the customer and the business, artificial intelligence is required. B2C is as important as B2B. The customer has a free will, it will abandon your product for the one that offers more benefits like flexibility, agility, convenience, portability, etc. Do not take this unapologetic nature of the customer for granted. It is the very rule of thumb in the product/service market that defines your future.
Convenience, Ease of Use, Manageability, and Multipurpose
The need for artificial intelligence to run your operations is of paramount importance. Manufacturing methods, data processing and management, and decision making are in desperate need of an upgrade. For the uninvited pandemics, market vulnerability, and economic downfall, artificial intelligence is needed. With all the above mentioned uninvited events the demand decreases whilst increasing the cost of manufacturing, artificial intelligence provides the necessary
- Convenience to market products and services
- Ease of use of technology
- Manageability of the manufacturing process
- One of a kind UX (user experience)
Artificial Intelligence is the Future
The new normal is chatbots, self-driven cars, and automated processes. Human involvement is fading away with every passing moment. The recent pandemic has taught us how lives could also be run through technology and digitalization. The fragility and vulnerability of man-power have told us how significant artificial intelligence is in our lives. Had it not been for artificial intelligence, work from home concept would not have been possible. Billions would have gone unemployed and manufacturing industries would have crumbled. It is the artificial intelligence and digital revolution that saved our lives. Whether it is the vaccine production through AI methods or drone food delivery service, AI has made life possible.
For these are a few of the many reasons why we need artificial intelligence and AI products to survive in this world which is full of uncertainty.
Tech Bytes 