How AI will Transform Business in 2021

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In today’s digital world, imagining life without convenience and comforts offered by high-tech world is next to impossible. We are increasingly becoming dependent upon technology in all aspect of our lives.  

With the technological advancement of moving from old school business practices to smart apps based practices, companies are reimagining their business to engage with their customers with the help of adapting artificial intelligence technology in this year 2021.

Covid-19 sparked an accelerated digital adoption, due to social distancing measures. We saw companies evolving digitally and technologies getting adopted, especially in areas like AI, which was already seeing rapid acceleration in this digitization era.  

Artificial intelligence is the technology that uses deep learning and contextual analysis to get the best output. Today either it’s recruitment industry using video screening to analyze the suitable applicants or the healthcare professional operating the major surgeries through robots, all is possible because of the Artificial intelligence. Numerous organizations are utilizing AI power to engage with employees and clients.

What AI will do exactly in the year 2021 and coming year?

AI based tools will shortlist the Resume:

In 2021, the chances are that the applicants may face AI driven application shortlisting solutions and websites while applying for the job. Many organizations are deploying, AI based algorithm to shortlist the profiles and select them on the basis of skill sets and parameters.  Already Video interview screenings are popular in AI based tools, especially after the COVID to enable remote hiring.

Digital banking will be mandatory for every aspects:

This year of 2021 will bring even more growth & development opportunities for transformational digital banks for financial & budgetary services. Digital banking is already linked to our mobile phones – and mobile wallets like Paytm, Phonepe, BHIM etc the biggest shift in service offerings which are making people confident in using the services for every financial activities.  Faster payment options will make mobile and digital payments even more engaging to the masses which is key to economic & financial growth.

New Edge opportunities will come into focus:

The increase in work from home as already announced by Google, Microsoft & Amazon for the year 2021 gave the unique opportunities to carry & upgrade the expertise skills by the use of AI. The growth of e-commerce and digital business apps also increase amidst COVID. From Google Assistant, Siri, Alexa several AI-enabled services are going to enhance and upgrade more to make the lives easier. 

Chatbots as customer service executive:

In today’s digitally challenged environment, many businesses are using & planning to use AI-powered chatbots in business communication, basically for client support and sales. In COVID times, it’s already been seen that Chatbots effectively increase client engagements, offer assistance, collect information, and drive business revenues.

Final Thoughts:

Artificial intelligence is going to lead the fantastic future in the year 2021 for businesses and organizations. The companies have learnt the biggest and most important lesson to stay ahead in this digital age & adapting artificial intelligence to stay ahead from competitors and attract customers.

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Businesses have successfully adapted to new ways of working over the course of the pandemic.  Moreover, they have streamlined their supply chains and embraced digitization.

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