Ever ubiquitous artificial intelligence (AI) is changing the face of technology, education, and even how we work. The adoption of AI in business has been gaining traction since 2010, when organizations began using AI to stay competitive in a changing and evolving tech scene.
We can’t deny that AI is already all around us; every time you ask Google’s Alexa for a weather update or chat with a customer service bot, you are using AI. While these facets of technology are known, AI is also reshaping the way businesses operate, innovate, and even compete with one another. If you’re interested in learning more, consider exploring how businesses are already utilizing AI today.
According to a report released last year by the commercial real estate firm CBRE, Toronto ranks fourth in North America for tech talent. Just like its neighbour south of the border, Canada is quickly gaining traction and becoming a hotbed for AI innovation.
AI-Powered Apps to Support Mental Health
According to a recent report released last year by Statistics Canada, many Canadian youth are recategorizing their mental health as “fair” or “poor.” Given the difficulty of finding a therapist and the time it takes to find a mental health professional, many are resorting to AI to fill the gap. Apps like Doro feature bots that replicate the experience of talk therapy, enabling people to engage in a one-on-one conversation with a virtual therapist. While these apps are increasingly gaining popularity, doctors caution against depending on them entirely since they are not a replacement for real human therapists.
AI For Customer Relationship Management
In the corporate world, AI is being used to foster strong customer connections. For example, many people are using AI-driven customer relationship management (CRM) tools to give them actionable insights into customers’ preferences. When it comes to marketing campaigns, tools like Salesforce for example, analyze customer information to boost engagement and provide clients with a customized experience that drives conversion rates. While Zendesk utilizes AI to analyze ticket queries, thereby predicting the customer’s needs and reducing the time it takes to solve an issue. Chatbots on platforms like boost.ai provide 24-hour assistance, reducing the burden on human agents.
AI For Security
In our increasingly volatile world, many businesses and cybersecurity organizations are leveraging AI to detect and identify cyberthreats before they even occur. Network security monitoring tools like Darktrace, for example, use AI to analyze network traffic and detect cybersecurity threats before they escalate into real-time problems. In the world of banking, companies like Mastercard leverage the power of AI to monitor transactions for any irregularities, thereby protecting people and businesses from fraudulent activities.
AI Sowing Seeds of Sustainability
Wildfires have been wreaking havoc on many countries around the globe. Given the effects of climate change, we can only expect things to get worse. That’s why the Toronto-based company Seedark is working closely to preserve biodiversity by creating a space for ecologists to grow and collect specific plant seeds. AI plays a pivotal role in that. AI is used to evaluate and test the individual seeds to investigate their germination potential. Ecologists are using AI to think critically about the types of plants that are being used in these restoration projects and in selecting fireproof species.
The Future of Business And AI
With its growing presence, we can only expect that more businesses in the near future will embrace the power of AI. According to a study by Forbes, 53 per cent of businesses in the United States are already applying AI to improve the production process, while 51 per cent are adopting the technology to automate tasks that humans once did. As AI becomes even more advanced, we can only expect these percentages to increase.
David Messiha | Staff Writer
