How will AI change the way we live our lives and do business?

Text: Marcos Daniel Martinez, Member of the Board, HansaWorld Group

Technological advances do not happen overnight and few can be credited to a single organization or person. The recurring advances that are achieved daily in certain challenges explain the great innovations. If we want to understand how artificial intelligence (AI) will influence the way we do business or even develop our lives, we can start by remembering how it does now.

AI helps us understand our customers’ preferences and to know which prospects are more likely to buy our products. A deep understanding between customer interests and buying patterns is a critical component of any retail operation. Today we can analyze the information of our ERP, emails and calendars to proactively recommend actions based on the history of thousands of similar processes as the best response to move a deal forward.

HR departments scan and preselect their candidates using AI. When combined with RPA (robot process automation) the onboarding or leaving processes of an employee are automated.

For those who work in customer service, AI can anticipate incidents before they occur or even resolve them on the spot. Through image recognition, you can analyze a photo of a product attached to a service case and use that information to classify the case and direct it to the appropriate agent. And when customers have questions, they can start a conversation with a virtual assistant that provides answers instantly, overnight and even on weekends or holidays.

In Scandinavia, a large number of banks, telcos, insurance companies, municipalities and government organizations have relied on AI to offer virtual assistants to their clients. We at HansaWorld have created Anna, our digital colleague, who through voice answers our customers’ queries related to their business and even allows them to execute transactions.

Machines has reached human level on translating documents, recognizing medical conditions from images, playing chess, writing articles or self driving. And they could also be extremely creative.

The evolution of these technologies will help us evaluate our employees and get the best out of them by analyzing their behavior and suggest corrective actions. We will sell our products and serve our customers through chatbots, voice assistants and robots. And in order to stay ahead of the competition we will execute some precise actions recommended by algorithms that have access to big data and outstanding computing power. They will also suggest how to write an email or message, or just automatically do it for us.

AI can help us build a more integrated and fair society, with unprecedented levels of efficiency and ability to solve problems. However, there are many challenges ahead regarding the use of AI (privacy, bias, work automation, algorithms that can’t be explained). Betting on artificial intelligence, educating all its people – the young and the old, experimenting and then seeking excellence has been the decision even of countries like Finland and should be a wise bet for most organizations.

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