Artificial Intelligence — An Effective Way To Transform Your Business

There’ve been years of hype about the invincible power of Artificial Intelligence (AI), but a large gap between what AI promises and its verity for business transformation still exists. Tech-companies have pitched AI’s capabilities for a long-time yet, for the majority of the organizations, the benefits of AI continue to be volatile. Artificial intelligence to transform your business projects is precedence for most of the companies though, there are several possible drawbacks for the unwary.

It’s not easy to gauge the proportion of businesses that leverage artificial intelligence today. Recent reports show that adoption rates fall somewhere between 20% and 30% — with adoption generally interpreted as ‘implementing AI in some form’. KPMG’s survey among 30 of the global 500 companies showed that while 30% of respondents used AI for a particular range of purposes, only 17% of the companies implemented the technology at a large scale within the enterprise.

All these reports state that businesses’ interest in AI is growing. As reported by Gartner, the number of companies deploying AI-related technologies in the past four years has surged by 270%. Johan Aurik, partner at the global strategic consulting firm “Kearney” stated that when talking to executives, it’s evident that they all go to all AI conferences and are well-aware of what the technology can do.

Unleashing AI Promise

The promise of Artificial Intelligence is tantalizing for business transformation. The high-growth that the technology can achieve is thereby specialists — to the point that it becomes hard for any executive to be still unaware of the hype. A large number of businesses are well-aware of AI’s massive potential, as they plan to speed-up adoption. One application of AI is the use of machine learning for both marketing and sales purposes, which analysts estimate could generate around $2.6 trillion in value globally.

Why Kellogg Leverages AI?

By implementing AI, businesses can get a clearer picture of customer behavior to design customized offers. The American food manufacturer, Kellogg Company is pioneering the use of AI to get more insights into behavioral science. Along with Qualcomm, Kellogg has introduced an eye-tracking technology entrenched in virtual reality (VR) headset, which keeps an eye on customers’ behavior whenever they shop. When users browse a simulated store, the device collects data about the product that grabs their attention or where they gaze for a longer time — data is then fed to machine-learning algorithms to comprehend what causes the buying decision.

Also, the director of behavioral science at Kellogg, Stephen Donajgrodzki, recently stated at a conference in London that AI is beneficial for his team to understand why people act; and when the behavioral mechanisms of customers become evident, it’s likely to impact their buying decision.

Moreover, it’s not about handling and managing human actions. When it comes to data-heavy industries like manufacturing, the ability of AI to process and analyze large volumes of information also has the potential of optimal effectiveness through the supply chain. Artificial intelligence will generate the most growth in marketing and sales, and in supply-chain management & manufacturing in the upcoming time.

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