TLDR:
Generative AI tools are predicted to modernize legacy business applications by reducing costs. Traditional AI disciplines like conversational AI, computer vision, and digital twins are essential for accelerating data utilization in businesses.
Key Points:
- Generative AI tools predicted to reduce costs by modernizing legacy business applications
- Traditional AI disciplines crucial for accelerating data utilization include conversational AI, computer vision, and digital twins
Article:
Little more than a year after OpenAI released its groundbreaking tool, ChatGPT, enterprises, services, and public institutions are racing to capitalize on the potential of generative AI with new applications and services. Gartner predicts that by 2027, generative AI tools will be used to explain and modernize legacy business applications, reducing costs by 70%.
While generative AI has clearly taken the front seat in optimizing business operations, there are three classic AI disciplines that are the top contenders to help businesses effectively accelerate data utilization. The trifecta of AI workloads for operational excellence include conversational AI, computer vision, and digital twins.
Conversational AI capabilities are being leveraged by industries to advance products and services, streamlining customer and patient management, reducing wait times, and driving improved productivity, accuracy, and overall satisfaction in high-traffic environments. For example, NCS designed Breeze, a local navigation app with a native Singaporean voice that can pronounce local phrases in multiple languages.
Computer vision is widely embraced across various industries for automating processes, detecting manufacturing concerns, and increasing safety for workers. Companies like Pegatron and Kroger are using computer vision for defect detection and store optimization, respectively.
Digital twins are creating digital representations of physical objects to facilitate complex simulations, reduce risks, and encourage collaborative work in industries like factory design, energy yield, and 5G network planning.
Businesses can build robust AI strategies by using computer vision, conversational AI, and digital twins to boost safety, transform customer experiences, and optimize operations and costs. These foundational AI disciplines are crucial for businesses to excel on their path to mastering data usage.