In the symphony of enterprise, every business today dances to the silent tune of technology

AI is no longer the differentiator for tech companies, it is an all pervasive feature across all industries - services, manufacturing or agriculture, says Jaideep Kewalramani. Leading non-tech businesses are beginning to use artificial intelligence and finding success. Often referred to as the fourth industrial revolution, AI represents the next evolutionary leap in technology's impact on non-tech industries.

An overwhelming number of leaders agree that AI will transform or disrupt their industry but are struggling to identify a comfortable start point. We have seen over 2000 AI tools launched since the start of the year and a lot of them are misleading businesses to believe that deploying AI within an organization is as easy as ordering groceries online. As an action template business leaders need to (i) become aware of the possibilities of AI, (ii) create an AI adoption strategy, (iii) develop policies, (iv) execute pilots to identify use cases, (v) invest in training their teams and (vi) work with experts to develop a roadmap. The best start point is to encourage Human-AI collaboration with a focus on improving quality, productivity and customer experience.

India’s largest private insurer is using AI bots to review voice calls and determine if the buyer is volunteering all relevant information before approving the purchase. Based on your responses the AI bot will determine if you are offering full disclosure of your past medical history and provide inputs for further scrutiny.

An institution formed by a consortium of Banks is tasked with assessing and certifying all bankers in the country. This test is important to maintain the guidelines and compliances associated with the profession. They have deployed cutting edge AI based proctoring tools to detect if the candidates are resorting to cheating. Irregular eye movements, ambient sounds or presence of other devices are red flagged for analysis by the human proctor.

India produces nearly 36% of chili worldwide and nearly 23.5% of all chili production in the country comes from Telangana. The state enrolled more than 7000 chili farmers under the ‘Saagu Baagu’ project to promote emerging technologies like AI to improve productivity, efficiency and sustainability. One example is that of an AI chatbot that provides farmers with customized notifications and short videos on a real-time basis to help plan and manage their crops more efficiently.

Not all AI applications have had a positive impact - content writing and the media industry are the worst hit. It was widely believed that creative industries will be the last to be impacted by technologies like AI however the ground realities are very different. One of the demands of the striking Writers Guild of America was that AI will not encroach on writers’ credits and compensation.

No matter the core product, all functions of an organization are now utilizing technology in some form or manner - planning, organizing, analysis, marketing, sales, customer engagement or service. Technology has always been a catalyst for progress, often propelling non-tech companies into new realms of efficiency and cost-effectiveness. From the industrial revolution's steam engines to the digital age's computers, companies outside the technology sector have harnessed innovation to transform their operations. Today, the conductor of this transformative orchestra is artificial intelligence (AI) and the darling subset - Generative AI.

AI can empower non-tech companies, to usher in an era of unprecedented efficiency and cost-effectiveness. AI offers all industries an array of tools and techniques to optimize operations and reduce costs. Here are some ways in which AI can make a substantial impact:

1. Predictive Analytics: AI can process vast amounts of data and determine patterns to help companies make informed decisions about inventory levels, optimize their supply chains, and reduce waste.
2. Customer Insights: AI-powered analytics can provide deep insights into customer buying and consumption behavior, helping companies tailor their products, pricing strategies, and services to meet customer needs more effectively.
3. Hyper Personalization: AI can help create a whole new dimension of customer classification and enable hyper personalization. AI tools now allow creators to curate content to suit each individual and marketeers can now deliver localized advertisements on social media channels like YouTube thereby enhancing customer engagement and reducing marketing costs.
4. Quality Control: In agriculture, AI powered computer vision can help segregate the produce by size, shape, color and even texture. In manufacturing, identifying defects by analyzing scans more accurately reduces the need for human intervention and associated costs.

In conclusion, AI represents a remarkable opportunity for non-tech companies to lead the charge in the 21st century's 4th Industrial (technological) revolution. In the ever-advancing dance of technology, AI can serve as the conductor, orchestrating a symphony of innovation and transformation within non-tech companies.

Author: Jaideep Kewalramani, COO & Head of Employability, TeamLease Edtech