Executive Viewpoint 2017 Prediction: Informatica – Why You Don’t Need to Worry About a Robot Stealing Your Job
Artificial intelligence (AI) is already infiltrating all industry verticals (and business processes) – as well as the home. Amazon’s Alexa can order you an Uber, tell you the weather, pull up your dinner recipe – and even turn on your oven to begin your meal preparation. This is just the beginning. In fact, AI is projected to grow to become over a $5 billion market by 2020. So, what is the force behind this unavoidable AI phenomenon and momentum? Big data. Data, generated by devices in real-time, is driving this new and increasing demand for machine learning and AI.
However, although almost everyone is familiar with the term “artificial intelligence,” it remains to be mystified buzzword. Although the dictionary definition of artificial intelligence reads, “The capability of a machine to imitate intelligent human behavior.” –it is all-to-often misconstrued. There is a wide-spread misconception that interprets artificial intelligence as “machine learning that replaces intelligent human behavior.”This misunderstanding often generates an irrational fear that AI technology will replace jobs. AI will not take away your job, at least not in 2017 – I promise. Here’s why.
AI Empowers Employees to be Data-driven
In many industries, AI is up-leveling human positions instead of replacing them. How? It enables employees to stretch from the role an instruction-based employee – within a business framework designed to keep everything running in the lines. AI lifts “worker bee” employee restrictions – and transforms these employees into data-enabled decision makers who develop business strategy frameworks.
First off, AI increases the number of people able to define their data analysis and reports, and gives more people access to summarized data – without a need for a reporting expert to work on it. AI and machine learning cuts down the time it takes for employees to pull insight from data by 50 to 80 percent. This dramatic AI-enabled efficiency improvement allots more time and resources for employees to develop actionable (and valuable) business insights – and removes the need to dedicate time and resources to completing mindless reporting tasks. Businesses will be have the power to predict and react to changes and events much faster than ever imaginable this year – all thanks to AI.
The Customer Service Industry Will Benefit the Most from AI
We’re all familiar with the frustration of calling our service providers – and being forced to listen to an automated voice rattle off which numbers to dial for our specific requests, before being transferred to a human being who can help. Advanced automation, customized to the consumer, time, and place will completely transform today’s customer service model – enhancing the overall consumer experience and boosting customer satisfaction across all industries.
Within the customer service market, AI will usher in new wave of workers who will base their offerings off of data, opposed to experiences and feelings. Data will enable these employees to know the customer better than ever before. Hard data around customer behavior will be leveraged to predict customers’ future needs – sometimes even before the consumers themselves realize these needs.
AI will streamline business processes to help businesses be more productive and collaborative – and dramatically improve customer service. However, to be strategic, it is imperative that the raw customer behavior data for customer services organizations is accurate. In order to truly benefit from AI technology – AI and machine learning analytics absolutely must be put into the hands of the right people, reports and applications within customer service companies. Additionally, data cannot be siloed if a business is looking to gain a 360-degree view of its customer – and deliver a winning customer service experience.
Buckle Up for the AI Transformation Journey
Now that I’ve hopefully successfully convinced you that a robot will not be replacing your job within the next year – get ready to embrace the business and customer services transformations AI has in store for the coming years. Looking forward to watching how AI and machine learning will up-level roles – specifically in client services – with you!