Over the last decade, technology has increased at an unprecedented rate. It has permeated just about every industry and every aspect of a business. AI has been a serious proponent of the ability and speed at which transformational change can occur, and when it is optimized successfully, it can provide invaluable information as to how businesses should evolve and adapt. According to a study conducted by Adobe in late 2018, 15% of businesses are using AI currently, and within the next 12 months, an estimated 31% are expected to add AI to their business model.
Transformational change, as described in my previous article, is a model of business that proactively embraces adaptation at every level of a company to thrive in an ever-changing world. It is the mantra that corporations should be flexible and agile in their methods, marketing, strategy, and vision in order best thrive across varying chronologies, geographies, and conditions.
Those abiding by a transformational change model can benefit from AI and machine learning in numerous ways. Machine learning via AI calculation can run and track specific data independently of a human agent; for instance, it can record how potential customers interact with advertisements as well as the exact details associated with that interaction. On a larger scale, it can run calculations related to specific marketing or consumer information and collect invaluable data. It can highlight where unsuccessful strategies can be cut down, and successful approaches can be multiplied.
This is beneficial to companies engaging in models of transformational change as AI can automatically and quickly compile and calculate information about just about every aspect of the business. Continuing with the example of marketing, machine learning can be taught to be hyper-aware of small changes in profit, marketing trends, and website interactions, etc.. It can track slight changes in trends in real-time and can provide that information in a quick and accessible format. This gives companies the tools to be proactive in their predictions for future strategies by allowing them to be aware of even small changes within industry trends.
The ability of AI to not just quickly compile and sort data is complemented by its ability to think and produce output in a cognitive manner mimicking the human brain. AI that can function independently and serve multiple purposes within a business successfully rules out certain degrees of risk for human error. It also allows for AI to account for things systematically that may not be recognized or recognized quickly enough by humans. Again, continuing the marketing example from above, using the example above, this includes identifying dips in business from specific demographic or geographic groups in real-time. It can rapidly then analyze the details of these changes and using a faux-cognitive manner of thought imply what may be the cause. This provides companies and corporations ample time to adapt proactively as a product, instead of reactive adaptation. This type of proactive adaptation is invaluable to optimizing researches, as well as engaging in a model of business that can continuously shift to best thrive in an ever-changing world.
It is exhilarating to consider how AI, machine learning, and other technologies will impact transformational change and the way the corporate world evolves in the future.
