Part 2: Transformative technologies of tomorrow that will disrupt today – AI cost cheaper than labour?
The future of work is certainly a hot topic up for debate. Despite all of men’s genius, today, technology is playing a starring role in business and everyday life. The future is becoming a technology economy and Artificial Intelligence (AI) will be the centrepiece of tomorrow’s economic shift.
Alongside IoT, businesses can now enable networks or robots to communicate with one another, and as a result, entire production systems and supply chains can also become more efficient.
With wages rising rapidly, firms and businesses are under pressure to gain advantage. This upward cycle reduces new opportunities for productivity and growth for businesses. Thus, this presents a telling argument where the cost of AI is said to be lower than labour. Amid all these predicaments, it is never too early to grasp the comprehensive impact of AI and autonomous vehicles.
What entrepreneurs need to look out for:
- AI technologies and applications are quickly finding their way into a wide number of industries. As a result of this, how will your business change?
- Businesses need to equip their people with new skills to keep up with the shift in technology. What’s your business’ attitude toward change? Perhaps this requires the most thoughts to begin with.
- Find out which business functions can be revamped with AI and identify the most viable cost path to AI technology to get you started.
While these two development themes will take time to fully unfold, the early stages have already begun. Below we take a look at a summary of where these industries are in terms of mainstream feasibility and what the future holds for them.
In addition, tech innovators are emerging in various industry sectors, threatening to overthrow conventional business models at any given time. Technology is an integral component in disruptive innovations seeking to deliver a seamless and easy experience to users. Here is where AI is making its impact felt the most.
However, before businesses can derive any real advantage from AI, they must first understand where AI can help them improve and act on that knowledge. To learn more about the topic, you can read the original article here.
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