Investment in AI ventures has grown 6-fold in the past two decades. AI startups grew in size by ten-fold over the past decade; and will only accelerate in the coming years. By the year 2025, the global AI market is expected to be almost $60 billion. (Consider that in the year 2016 it was merely $1.4 billion.)
AI tools have already redefined what it means to communicate, producing human-like answers by rendering obsolete the need for pre-programmed conversational pathways. It is estimated that AI-powered chatbots will help online businesses save $8 billion worth in business costs by 2022. This will transform the field of web design.
AI is not just about replicating intelligence; the point is to carry out tasks BETTER than humans–performing functions with SUPER-human intelligence. Using predictive analytics, AI has the ability to find patterns and organize uncategorized data, and give target audiences what they want, when they want it. This can be accomplished by integrating various online apps and tools. AI systems enable you to test your chatbots, evaluating their performance—all without needing to compose a single line of code.
AI technology is evolving; and it is imperative to adopt it if one is going to maintain a competitive edge on the changing digital landscape. Some are even discussing the integration of blockchain technology with AI systems. To fail to incorporate the latest AI technology into one’s repertoire is to risk getting left behind in a quickly changing world.