AI/Machine Learning and Digital transformation have become the buzzword for enterprises these days, as it has not only reshaped the business world, but it even allows companies to maximize their profitability and sales figures in comparison to their market rivals. With these advanced technologies in hand, companies can build good relationships with the customers and can interact 24*7 with them through AI-powered chatbots. The technology also reduces the requirement of the additional staff, fulfils the enterprise's needs and deftly handles customer requests.
AI and Digital transformation impact
According to a study of International Data Corporation (IDC), the expenses across the world on the technologies and services which enable digital transformation will reach $1.97 trillion in 2022. Also, Gartner's CIO Survey mentions that AI implementation's growth has increased massively to 270 per cent in the last four years.
Let's look into some previous year's surveys and figures. We can realize the need for AI and digital transformation for the business, and we can acknowledge why technology has become an essential part of the business. There are even some reports which suggest that enterprises which have used AI and digital transformation in 2019, grew at 37%. While a few surveys suggest that AI and digital transformation are likely to create $2.9 trillion of business value and 6.2 billion hours of worker productivity in 2021.
However, there are many enterprises which do not even realize the need for such essential technology because many of them are not aware the fact that both Machine Learning and Artificial Intelligence together can help in achieving complete digital transformation when they go hand in hand. It has already been proven that AI/Machine learning is tremendously valuable for organizations which are keen to bring digital transformation. And there are some of the best Artificial Intelligence Companies already available in the market which are benefiting such organizations through its automation process in order to bring digital transformation. Thus, enterprises cannot avoid the fact that there are ample advantages to taking a complementary approach.
How AI/machine learning and digital transformation both together impact the digital enterprise
There are a dozen of application and Data Analytics Consulting Companies available in the market which are not only capable of providing optimal decision-making experience but can also help streamline and expedite several digital processes.
With the help of analytics tools and correct data, decision making can be significantly enhanced. 10s of 1000s of data points in real-time can also be processed with Artificial Intelligence, and it does not require any human intervention.
For example, when consumers purchase a product through e-commerce websites, they would get offers related to the product which they have been searching for at that moment. Thus, the technology will provide them with a more personalized experience.
Final take-
We have discussed in the article how AI/Machine Learning and digital transformation have become an essential part of any business. The technology helps make informed decisions and drive processes at scale in the companies to generate more revenue. Thus, it can be the most valuable tool in the digital transformation process. But, the objectives of using these technologies for specific enterprises and businesses must be clear.