December 19, 2016
Bloomberg Media is at CES this week, starting the new year with a look at our future. Software, data, and machine learning will matter more to the economy of the future than traditional factors like energy costs or labor availability – a coming reality that’s been dubbed The Fourth Industrial Revolution. Bloomberg Intelligence points the way to what businesses and smart marketers should pay attention to – and why.
This analysis is by Bloomberg Intelligence analysts Jitendra Waral and Anurag Rana, with contributing analysts Kevin P. Tynan, Sean Handrahan and Caitlin Noselli. It first appeared on the Bloomberg Terminal.
More data may mean more success for companies using AI software
The amount of proprietary data at a company’s disposal will determine whether it will succeed in driving sales and market-share growth by adding artificial intelligence into its applications.
All companies should be able to deploy AI to boost efficiencies in processes such as inventory management or human resources. IDC suggests the cognitive systems’ ecosystem will be based around a set of AI capabilities that allow companies to mine their internal content and data.
Digital ads and e-commerce revenue may get early boost from AI
Machine learning is likely to improve targeting efforts for programmatic digital ads and purchase recommendations in e-commerce, which may support sales and improvements in ad ROI. eBay has acquired three AI companies since 2011, while Amazon has Alexa, a virtual assistant supporting voice orders. Programmatic, or automated ads, may make up 67% of 2016 U.S. display ad spend, per eMarketer.
AI will help drivers and cars converse
The driver-vehicle interface will use speech and gesture recognition to reduce distraction, and driver monitoring to improve safety.
As more content and functionality come to a vehicle’s dashboard, the likelihood of distraction increases as drivers use touch screens. In 2012, 37% of new vehicles incorporated voice recognition. The number is expected to rise to 55% by 2019, according to IHS.
Your AI is important to us: call centers may receive bot boost
Increased use of messaging applications, Twitter or email to lodge customer inquiries is making it easier for AI platforms to replace humans. These products can detect the tone of the customer inquiry, give it a score, recommend actions and sometimes even resolve issues.
The total business process outsourcing industry is about $172 billion, rising 5% a year through 2020, based on IDC.
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– Compiled by Jen Robinson | January 2, 2016