Artificial intelligence is becoming the norm in most people’s lives, with Google’s Home Assistant, iPhone’s Siri and Amazon’s Alexa helping to ease tight schedules by handling most basic tasks.
AI personal assistants are not only easily accessible to businesses but very useful in organizing functions like customer service and sales dealings by automating them. The trajectory for AI is encouraging with the market for AI Assistants and voice recognition software set to grow by 17.2% from 2018 to 2025.
However, many businesses are still shying away from this progressive, effective form of technology. Although their counterparts are opting to integrate AI in most of their operations, such as merging products and services with AI assistants, these businesses are sticking to the older methods. Yet, if companies do not adopt AI, millennial-crazed technology’s growth might take a hit. Will many businesses adopt AI? Here are a few factors that affect the rate of AI use among firms.
The Type and Size of Business
The industry and size a firm is in will most likely affect their chance of adopting AI. AI can only be utilised in a firm that stands to reap the most benefits from using it; which is why firms in the IT and financial services sectors are the first in line to use it.
This is reinforced by the business experts at Maxfunding, who agree, saying “AI integration will benefit customer service across multiple industries. Already we are seeing AI used to improve client satisfaction and streamline efficiency.”
While artificial intelligence is already being introduced to sectors like forex trading, firms in agriculture and construction, on the other hand, are the least likely to adopt new technologies like AI.
With a focus on human-first customer service in the Sydney construction industry, Any Rubbish admit AI is not on their radar, saying their needs don’t align with AI technology. With no plans to incorporate it going forward they believe their current system is more efficient and that “the process will flow much more smoothly and will be complete quicker too” without AI.
This shows the divide between the industries most likely to adopt AI technology moving forward.
Moreover, an enterprise-level firm is more likely to adapt AI that a smaller one, owing to the strong capital base to quickly and effectively implement AI assistants.
The manager or CEO of a large business will prefer to use AI assistance for their effectiveness at handling mundane, repetitive tasks.
There are many kinds of tech that rely on AI, such as chatbots for customer service and in e-commerce, and intelligent cybersecurity, as well as computer vision for inventory. If a business has adopted any one of these, they are most likely going to try AI assistants compared to one which has opted out. This is because they have already seen the benefits of AI through its other forms.
Various industries and economies have different needs when it comes to the skill level of workers. Sophisticated technologies like AI often require a high level of tech skill to implement. A business with highly-skilled staff that is not only tech-savvy but also has a positive attitude towards emerging technology will be able to apply AI assistants.
The General Perception of Technology and Digital Advancements
The level at which yesterday’s technology was adopted can reveal a great deal about how today’s technology is going to be adopted. If a business has invested in broadband infrastructure and cloud computing technology and seen their benefits, they will also seek to adopt more sophisticated technologies like intelligent personal assistants.
Some business owners have a negative perception towards technology, and will, therefore, avoid all things AI like the plague.
Whether Competitors have Adopted AI
What a business’ competitors are up to has a huge impact on the decisions that it makes. If a firm’s major rivals have already installed and are using AI to run most of their operations, then the firm will definitely adopt it to avoid being left behind.
Again, a business will want to be the earliest adopter in their industry to remain the most competitive and reap maximum benefits before its competitors catch up.
What’s Next in AI Technology?
There is still the element of trust and security, and whether employees fear that their jobs will be made obsolete by the adoption of AI assistants such as Siri, Alexa, or Google Assistant. Until people are fully educated of the myriad of benefits that AI assistants offer, there will still be a minority that chooses to avoid it.