Digital Transformation and AI to Accelerate in 2024
-
Roshan Amiri
- . March 2, 2024
- . Update: March 2, 2024 8:54 pm
Digital technologies like artificial intelligence (AI), machine learning, and automation are rapidly changing businesses. As we move closer to 2024, these technologies are expected to penetrate deeper across sectors, leading to major digital transformation.
Retail Goes Intelligent
Retailers are investing heavily in AI and automation to improve customer experience.
Chatbots using natural language processing will become ubiquitous for simpler customer queries. Computer vision will enable automated checkout, inventory management through shelf sensors, and surveillance through smart cameras. Personalization will reach new levels using data analytics and machine learning algorithms. Overall, the retail floor, supply chain and customer interactions will become highly automated.
Smarter Banking Services
Banks are increasingly adopting conversational AI through chatbots and voice assistants to offer personalized services to customers. Biometrics will strengthen security and make banking seamlessly integrated into customers’ lives via mobiles and wearables.
AI and machine learning will improve credit decisions, detect fraud, enable process automation and convert data insights into customized offerings for customers. Overall, banking will become seamless, secure, personalized and integrated across channels.
Precision Agriculture
Agriculture will become data-driven with automation and IoT sensors enabling precise farming. Drones using computer vision will survey crop growth and irrigation needs. Satellite imagery and weather forecasts will feed data to AI models that can detect crop diseases/pest attacks early and recommend remedial actions. Robotics will automate repetitive manual tasks like pruning.
GPS and automation will enable efficient usage of inputs like water, fertilizers, and pesticides tailor-made to the needs of each zone within farms. Supply chain efficiencies will result from tracking the origin of issues.
Keep Reading
Smarter Cities
Urban infrastructure and governance will transform with IoT, AI and data analytics. Traffic signals will auto-adjust to optimize vehicle flow using camera vision. Energy usage will be predicted more accurately helping balance demand-supply better.
Data analytics will help accurately plan for better water supply, sanitation and housing facilities as per changing demand. Wearables and mobile apps will integrate public transport, parking, utilities and other citizen services for smoother urban living.