Almost all sectors from finance, customer care, IT, and supply chain management are reworking their organizational strategies to incorporate digital transformation in their sector.
While some experts like Musk have made speculations around the potential harmful impact of AI in future, for the most part these disruptive technologies with super-human abilities are creating far-reaching impact
Digital transformation DT or DX essentially refers to putting to best use the new age digital technologies and drivers such as Artificial Intelligence and Internet of things (IoT)
IPA will undoubtedly become an even more integral part of the future operating models. Experts suggest that IPA will further leverage AI, eventually leading to a complete automation of processes.
Banking and financial sectors have been using some form of machine learning to keep track of data but it is usually tedious and manual in nature. With high volume of data and the quantitative nature of finance, this sector is particularly suited for artificial intelligence.
RPA is clearly considered an improvement over assisted automation but still, there are places where it is more suitable than unassisted automation. Myths and misunderstandings around robotic process automation however are still many.
Wealth management advice will come from bots that are free of calculation errors and faulty/biased judgement, unlike human advisors. AI and machine learning will play a key role in solving portfolio advice and equipping experts with key data points.
Gone are the days when a VC would have to travel across different states and countries to find the next ‘unicorn’ or reaching out to potential start-ups as all this information can be accessed using AI with just a click.