PROFIT | AI
“ AI can help the human workforce by enabling the 3 As – Automation , Assistance , and Augmentation ”
Business Chief : Why is AI significant for the future of business ?
Anand Rao : AI is impacting every industry sector and every functional area . It is a general purpose technology that will have a profound influence in the next 10-20 years on how we interact with each other and how individuals , businesses , and governments make decisions . AI will automate a number of repetitive and manual tasks while also assisting and augmenting human decision making .
In some cases they are also moving from automating and transforming today ' s businesses to disrupting our current business models . We are already seeing fundamental ways in which AI has changed our behaviours – from searching for content , to summarising and synthesising what we read , see , or hear , to even creating new forms of art , music , and literature . As a result businesses that ignore AI are doing so at their own peril .
Value can be had across the organisation , in terms of productivity , personalisation , time saved , and quality .
For example , with the enablement of a truly personalised experience ( whether B2C , B2B or E2E ). AI can deride the gaps that you might have in terms of data volume ( traditional methods couldn ’ t ) to drive out customer vectors .
More recently we are also seeing an increase to the promised labour productivity gains , whereas AI can help co-pilot decision making to increase the effectiveness of resources in the Enterprise . This also has effects on time saved and the quality of the outputs . As an example we have been using synthetic data to help organisations to better predict outcomes that balance the decisions needed around product / service quality .
There are also softer benefits which are more difficult to determine an ROI from the application of AI such as the improvement of working practices in the enterprise for staff which helps with talent retention but also that of the agility of the organisation .
Anand Rao Global Artificial Intelligence Lead , PwC
Alec Boere : From the personal assistants in our mobile phones , to the profiling , customisation , and cyber protection that lie behind more and more of our commercial interactions , AI touches almost every aspect of our lives . And it ’ s only just getting started . businesschief . com 55