AI will also help improve the productivity of developers.
By Vijay Narayanan, chief AI officer, ServiceNow
Artificial intelligence has already changed our busy personal lives—and if you don’t believe that, just ask Alexa or Siri. It is now increasingly influencing how businesses operate. Enterprise spending on AI rose 55% between 2020 and 2021, according to surveys by Appen.
Mastercard and other payment processors use AI to identify potentially fraudulent transactions within milliseconds. Manufacturers like Boeing use it to predict when an aircraft part is likely to fail, allowing engineers to engage in preventative maintenance.
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UPS and other transport companies use machine learning to optimize driver routes, improving on-time delivery while reducing fuel consumption. Nearly one-third of B2B enterprises are already using AI to forecast sales revenue, identify potential leads, or help sales reps personalize pitches to customers, according to Gartner research. The list is long.
But there are key differences between consumer AI applications and enterprise AI tools that drive business decisions and outcomes. To extract the business value that AI can deliver, business leaders must understand the distinguishing characteristics of enterprise AI, identify appropriate use cases, and build AI solutions and experiences that can get the job done.