30th August 2023

AI in Business: A Game-Changer

Elena VavilovMarketing Manager
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The transformative power of Artificial Intelligence (AI) is an undeniable reality. From its integration into daily tasks to spurring monumental growth in the global economy, AI's influence is evident. 

The recent survey released in the spring by The Centre for Macroeconomics (CFM) and The Centre for Economic Policy Research (CEPR) indicates that experts forecast AI will drive global economic growth to an impressive 4-6% annually over the next decade, surpassing the past years' average of 4%. As Mihir Shukla, the co-founder of Automation Anywhere, a global leader in the automation industry, aptly remarked at the 2023 World Economic Forum: "People keep saying AI is coming, but it is already here".

ChatGPT's Success and Future Projections

A testament to its rapid adoption is the meteoric rise of generative AI systems like ChatGPT by OpenAI. To contextualise, ChatGPT achieved a user base of 100 million in a mere 60 days, eclipsing platforms like Instagram, which took two years to achieve the same feat. These developments signal AI's potency as a catalyst for productivity. Institutions like the McKinsey Global Institute project that nearly 70% of companies will employ some form of AI by 2030. Furthermore, Price Waterhouse Coopers (PWC) suggests that by 2030, AI could bolster global GDP by an impressive 14%. 

In today's fast-paced digital world, artificial intelligence and machine learning stand out as transformative tools. They're reshaping industries by automating tasks, personalising customer interactions, and offering novel insights. Dive in as we explore how AI can be the linchpin for your business's future growth.

The Power of AI: Beyond the Buzzwords

  • Deep learning & its magic: AI isn't just a buzzword; its subfield, deep learning, is changing the game. Deep learning, using neural networks resembling our brain's structure, has spearheaded advances in computer vision, speech recognition, and natural language processing. When harnessed right, this could be your business's game-changer.
  • Advantages to unlock with AI:
    • Smarter decisions: With AI-driven analytics, dive deep into data to unearth patterns, guiding strategic moves.
    • Elevated customer journeys: Use AI chatbots for instant customer support and data analysis for tailored marketing, enhancing customer loyalty.
    • Boosted efficiency: Say goodbye to tedious tasks. AI, especially through Robotic Process Automation (RPA), can automate them, increasing overall productivity.
    • Staying ahead: Be the market innovator with AI-driven insights, offering fresh products that resonate with changing consumer desires.
    • Fortified security: AI's proactive threat detection ensures robust cybersecurity, shielding from potential breaches.

Making AI Work for You

Venturing into AI requires strategy. Here's how to make your journey effective:

  • Vision is key: Pinpoint what AI should achieve for you. Your goals guide your path.
  • Seek the maestros: AI is intricate. Collaborate with experts, like us at Sentium, to sail smoothly.
  • Solidify data frameworks: Robust data infrastructures are non-negotiable. They ensure AI learns from quality data, offering you valuable insights.
  • Empower your troops: Upskill your team members to navigate the AI landscape efficiently. Knowledgeable teams amplify AI's benefits.
  • Stay agile: AI adoption isn't a one-time gig. Regularly review and adapt to ensure it's aligned with your vision.

AI isn't just a technological upgrade; it's the catalyst for business metamorphosis. With an informed strategy, you can leverage AI's prowess to escalate decision-making, amplify customer satisfaction, and elevate your business stature.

At Sentium, our commitment is to steer businesses into tomorrow with AI, data analytics, and bespoke software solutions. Together, let's craft your AI-powered success story!

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