How companies can use AI to get ahead of the crowd

Author: Bárbara Dominguez. Digital Communications Manager at Techfynder

Digital technologies are becoming more included in all of the aspects of human lives – social, professional and personal. Affecting society, culture and how people interact in the world. As an effect, businesses need to be part of these scenarios in advances and processes through new platforms, tools, and emerging technologies. The markets need to be adept at it and create more accessibility for consumers, as an investment in the new technologies to bring more experiences to them. Brands need to frequently invest and build their relationship with consumers to lead their expectations, satisfaction, and preferences in the long-term.

Innovation in the business world is an indispensable requirement for companies, their products, process, and business models. The technological changes are relevant to be rethought and also, advanced for the future, such as the path of emerging technologies. However, the most interesting aspect is the speed with which these technologies are brought to the audiences.

Furthermore, that impression is even more evident when considering emerging technologies. Certainly, these are responsible for a part of the transformations in the business environment. Non-technology companies are losing market value when compared to technology giants. Also if non-technological companies are compared with start-ups with a strong technological base, the growth is even more notable.

Emerging technologies are those that have the potential to transform the business environment and society over 10 to 15 years and may have a considerable economic impact. Nonetheless, they have not yet been consolidated, these technologies generally already have practical applications, incite extreme interest in entrepreneurs, corporations and investors as long as their potential for fast-growing and social impact, which has not yet been fully exploited.

Adobe is one of these companies that is changing the world through digital experiences. They support that customers create, delivering solutions to optimize contents and applications. The company has historically aimed at the creation of multimedia and creative software products that are known all over the world. Likewise, software for editing photos, videos, widely used formats in computing, such as Portable Document Format (PDF).

The software simplifies the experiences for users, enhancing the capacity of discovery of the operating system features the brand launched in 2016 Adobe Sensei. The Artificial Intelligence (AI) framework of the company, has the major function of accelerating the creative process, discovering new opportunities, optimising processes and offering new relevant experiences for consumers.

The product aligned with the technology helps to create processes faster, smarter, and more efficiently. AI has many characteristics, acting as creative, once it understands the language of image and illustration, supporting the management of time-consuming and repetitive tasks. In addition, understanding large amounts of content on a deep level, such as document proposals or aesthetic qualities of the image, helping users set up their needs only in a few seconds, not in days.

Nevertheless, there are many impacts on business besides these technological innovations. Companies will have to readapt their portfolio and innovation strategies and think of new possibilities to enter the market and build partnerships. The interaction between organisations and customers might change, once these transformations do not involve only marketing and sales sectors, as well as other areas such as the billing sector and after-sales support since AI can be used to identify patterns of consumer behaviour through data processing and improving engagement.

Organisations will restructure both commercially and operationally, all of these technologies can increase operational efficiency and gain competitive advantages: such as reducing costs through the use of robots and expanding the range of products to customer preferences. Regarding people and talents, due to emerging technologies new jobs and businesses will emerge. Oppositely, the same technology has taken the opportunity to reduce the number of headcount in some industries.

Therefore, business owners are in charge to promote the integration of machines with their employees and develop strategies to maintain the new talents able to operate the machines and technologies with excellence. In addition, organisations will have to adapt and influence the regulatory items that will be created. For example, the protected data collected by devices connected to the web, Internet of Things, drones and robots in public areas.

For instance, Techfynder, a global direct platform for businesses to hire Professional Talent using a subscription or license, is also making a difference and is leading the future of work. Praveen Madire, Founder and CEO, declares ‘’We need to innovate to be part of a new digital edge. The future belongs to businesses that use technology at the centre of their outlook. This is a revolution, as it impacts society and is becoming today’s reality for millions of workers and companies around the world, reflecting the best of the digital and physical worlds. The challenges and opportunities posed by the future of work may seem limitless, and they can present new realities every day.

Investing in the digital is fundamentally changing business and forces the future of work”. Madire concludes “Techfynder is constantly looking at the global landscape from machine learning to automated behavioural science with AI logic. Our platform is an excellent space for immediate results in the recruitment journey.’’

Indeed, adapting to new consumer realities is crucial and analysis has to be done towards the consumer’s impacts. They have now more voice and space to expose their considerations, making companies rethink their services and products. With the automation processes, they might have more agility with the services, once desiring fast and efficient customer service.

By the year 2030, AI will change the way we are moving, the health care and the education of generations. This is the consensus among academic and technology experts who participate in Stanford University’s “One Hundred Year Study on Artificial Intelligence” study. As a consumer, as a human being, the entire society will be impacted by the emerging technologies. This scenario brings many opportunities, but, on the other hand, new challenges. Potential impacts are still difficult to measure and in some countries, such as the US, the government has developed research and debates on the subject. AI can be an indispensable tool to promote equity, and it also creates immense economic opportunities for society.

Finally, emerging technologies based on advances in biotechnology, nanotechnology, information and communication technologies will shape the future in many sectors and will create new business models. Assessing how the future industries will look at the advanced technologies may seem paradoxical, given the high degree of uncertainty and complexity inherent in the spread of new technologies and even more urgent changes in the next decades in various segments of society.