Need more budget for artificial intelligence projects? Point out what the competition may be doing

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  • “More than two-thirds of executives, 67%, fear their competitors are further along with ‘deep-tech’ solutions, such as artificial intelligence and machine learning.
  • A majority of large enterprises (defined as those with 1,000 or more employees), 57%, are actively investigating deep tech solutions are doing so to solve a specific existing or emerging business problem.
  • Competitors making progress with deep tech and needed to match them 37%
  • Have identified an impending business problem not equipped to handle 28%
  • Want to be on the cutting edge of innovation to solve currently undefined business problems 20%”

10 surprising things that rely on artificial intelligence

“Emails – Google says less than 0.1% of spam makes it past its AI-powered filters.

Banking – More than two-thirds of banks in a recent survey by SAS Institute say they use AI chatbots and almost 63% said they used AI for fraud detection.

Ride sharing and travel apps – Ride sharing apps use AI to resolve the conflicting needs of drivers and passengers.

Manufacturing – Experts say it’s cutting the time machines are offline by 75% and repair costs by almost a third.”

Four Benefits of an Artificial Intelligence App

“1) An artificial intelligence app makes predictions, both real-time and future, to help us make decisions consistent with our habits and goals.

2) We can use an artificial intelligence app to offer helpful suggestions for other people, brands, and businesses.

3) An artificial intelligence app delivers personalized content utilizing a user-based algorithm to facilitate consistently beneficial engagement.

4) Artificial intelligence apps help make our routines simpler through tracking, analyzing time usage, and making suggestions to help us be more productive.”

The customer experience: How the pandemic changed e-commerce

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  • “It’s expected that there will be more than 4 billion digital wallet users worldwide by 2025.
  • In a recent consumer behavior study, only 40% of e-commerce shoppers have their credit card within easy reach while shopping.
  • The other factor is that Statista projects that m-commerce will make up 73% of the total global online commerceby the end of the year.
  • The Salesforce consumer surveyfound that 64% of customers use more than one device for transactions.
  • ClearSale’s 2020 consumer behavior study found that half of consumers will abandon purchases because the checkout process was too long or complicated”

AI in Banking will Reach US$48 Billion by 2025, Analytics Insight

  • “Analytics Insight predicts that the Global Artificial Intelligence market revenue in the Banking sector will touch a whopping USD48.3 billion by 2025 compared to USD13.7 billion in 2019 growing at a CAGR of 28.6%
  • Conversational AI has been a great addition to the banking sector. It improves customer experience, enables cost optimization, and unburdens the employees from mundane tasks.”