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AI dominates in service sectors – Companies now invest in AI for their services

AI doesn’t have to be evil to destroy humanity – if AI has a goal and humanity just happens to come in the way, it will destroy humanity as a matter of course without even thinking about it, no hard feelings”  — Elon Musk , Technology Entrepreneur, and Investor.

 

With the recent development in the AI field, now new business driven solutions have evolved. Companies are now leaning over AI for their service projects. Usually you have an age-old traditional technology on each on-going service project. The necessity to reduce project cost and deliver the project with efficiency has become the need of the hour. Let’s look at the different ways by which AI is implemented now:

 

Personalized Services:

 

Now personalized services have become the trend of the digital world. But why? The more you understand your customers needs and likes, the more you can customize it. Amazon was the pioneer of data-driven business and personalized shopping approach. Netflix has introduced this method, which you might have noticed saying your personal recommendations. It’s based on your watchlist, Netflix tailors the play list as per your likes. 

 

Customer value service

 

A good business gives more value to their customers in terms of establishing a good customer service  relationship.  Let’s take a  look at this company “Vitality Health”. They use AI and data to track and reward customers for each healthy behaviour. For example, if their customer has reached such a milestone by walking or running, the company tracks them and rewards their customers.The healthier your lifestyle, the bigger the rewards. In this shared value system, customers benefit from cost savings , while the insurer benefits from lower healthcare costs.

 

Predictive maintenance

 

One of the best features about AI, is the ability to predict behaviour. There is an entire different topic about behaviour analysis. KONE is an elevator and escalator company. They have used AI to track down how the machinery is working on the lifts, so there is no need to wait for a breakdown or fault. KONE can now predict maintenance needs well in advance. They have installed this in approximately 1 million lifts around the world.

 

After all this, if the companies neglect to use AI, then they are risking their business and lose their customers.  For more articles, you can visit these pages 

 

  1. https://www.forbes.com/sites/bernardmarr/2019/09/30/the-7-biggest-technology-trends-in-2020-everyone-must-get-ready-for-now/#686763742261
  2. https://futureoflife.org/background/benefits-risks-of-artificial-intelligence/?cn-reloaded=1
  3. https://www.zdnet.com/article/ai-may-not-predict-the-next-pandemic-but-big-data-and-machine-learning-are-key-to-fighting-this-one/

 

 

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