Blog ( January - 2024 )

Artificial Intelligence in Business

The use of artificial intelligence in business is very important. Recent surveys shows that the companies are growing in experimenting with AI. For example, in April 2023 254 technology firms’ leaders including professional services firm EY found that 90% of respondents are exploring AI platforms such as ChatGPT and Bing Chat and 80% are planning to increase their investments in AI in the coming year.

Executives have indicated to EY researchers and others that they're looking at AI to increase efficiencies, boost productivity, lower costs, create competitive advantages and changing market expectations. They've also credited advances in AI tools for making the technology more accessible to businesses and organizations.

Enterprise leaders said data security, process automation and customer care are the top areas where their companies have been applying AI. Natural language processing (NLP) is at the forefront of AI adoption.