“The AI Revolution”, it covers the brief history of AI, the industries that will be affected, as well as some key AI statistics. The modern iteration of AI works silently in the background without a face, and it’s starting to impact everything it touches. It’s also will transform our economy at warp speed.
How Artificial Intelligence Is Changing Businesses
Artificial intelligence is here and it’s transforming our economy.
One estimate by PwC puts the global impact of AI at $15.7 trillion by 2030, while Accenture says that AI could double the rate of economic growth in developed countries by 2035.
If either of these two predictions come true, it will mean big change for almost every industry.
The AI Revolution: By the Numbers
The following stats will give you an indication on the potential impact of the AI revolution, and how it’s already shaping the future of business thinking:
The number of AI startups has increased 14x since the year 2000
The amount of investment in AI startups has increased 6x since 2000
15% of enterprises in 2018 already use AI, but 31% more will come on board in the next 12 months
72% of executives see AI as being the most significant future business advantage
84% of global businesses see AI as providing a competitive advantage
41% of consumers believe AI will improve their lives in some way
By 2020, businesses using AI to drive consumer insights will see $1.2 trillion more per year than their less-informed competitors
So while the AI revolution is not led by the identifiable face of a friendly (or antagonistic) robot in a physical form, experts agree that impact of AI on business will be profound.
The freelancer is the new job trend for the new Millenium. Much like engineers to the mechanical revolution, the tech (and more recently, the mobile) revolution rely on freelancers of various skills to propel itself forward.
Apple and Microsoft have full-time employees like engineers, marketers and other people in different fields, but when we are talking about the Internet and tech industry, on the whole, most of its innovation, content, and coding is done by passionate freelancers.
We’re seeing the same thing with mobile. Most app companies are started by entrepreneurs who worked as freelancers to get their start. In fact, freelancing jobs could be called “personal incubators” for young entrepreneurs, who are lacking in minimal capital to start a small business
And when those businesses are finally financed, they look towards outsourcing as much as possible in order to skip on health care obligations, benefits, and office space.
The backbone of The Internet Business
Small and medium-sized business are the ones creating the majority of everything on the Internet. Basically, freelancing is the backbone of those businesses.
Only a fraction of all the news you see on the Internet is written by full-time employees. Almost no blog has the power to hire full-time writers for its entire content.
Design agencies have loads of talented people working in them, and will probably never die. They’ll keep growing thanks to branching out, offering development services and the businesses need to pay more for something they need.
But the fact is the majority of designers nowadays are freelancers. And they offer the same services or oftentimes better, at a fraction of the cost. 99Designs has thousands of talented designers with over 90 design skill sets.
But the fact remains, small to medium-sized business are now empowered to look like Top 500 Giants!
It’s the small guy with a local e-store who “owns” the Internet. He is the future. It’s he who relies on freelancers to get his site looking like it’s 2019, and not ’95. And it’s the foreign talented freelancer who is making it all possible.
Google Play and App Store
Most of the apps in both giant marketplaces are coming from freelancers or small businesses who rely on freelancers for outsourcing. Yes, there are some bad apps because of this.
But the truth is, that freelancers have created the beautiful virtual app world.
The World is Changing
There’s this small thing called Globalization. It’s the reason some national economies are now dying. Only those fast enough the adapt to globalization and outsourcing stand a chance to thrive.
That’s neither a good or a bad thing, it’s just a shift. Part of the planet’s total GWP (Gross World Product) of around $70 trillion dollars is made up of goods and currency which move through or thanks to outsourced jobs.
According to the Bureau of Labor Statistics, 14.9 million U.S. workers were self-employed. Freelancers, outsourced jobs and globalization go hand in hand.
A poorly designed interface for the Internet with few giant apps on the apps market and almost no alternative media, blogs and content from Supertemps would probably hinder connectivity to the point where people wouldn’t want to get online.
That means less knowledge for the masses, less unique, distinct thought processes and less communication. We’d go back in time.
So if you’re a freelancer, be proud because you are the revolution.
Many people believe that artificial intelligence (AI) will replace our jobs but it’s a myth. The new technology is going to replace tasks, not jobs. Just like email, computers, and the internet elevated employees to new proficiencies in past decades, AI’s purpose is to increase worker proficiency by eliminating time-consuming tasks.
Always a lot of people are afraid of new technologies and the progress of science. They don’t have the knowledge and they don’t like changes in their life or work. But the technology is here to change the world and nobody can stop it!
A famous example from the 19th century. A group of English textile workers wants to destroy newly invented textile machines for fear they’d lose their jobs. Their fear was unfounded, however, as instead of being replaced, the machines made it cheaper to produce fabric, leading to more customers, and more demand for workers.
Technology like AI is giving us a unique opportunity to rethink how work is done, and how people use their skills and talents to complete critical tasks. AI works by applying pattern recognition to categorize structured and unstructured data, to flag anomalies and make recommendations.
It can take care of the repetitive tasks so that all employees — from the back office to the CEO — can focus on higher-value projects that help them stay competitive.
For example, chatbots are already being used to alleviate the pressure of increasing customer inquiries. Chatbots can be set up to answer the most basic requests of customers, such as delivering order status updates, scheduling appointments, answering common user questions, and providing simple automated services during the hours when a business is closed.
For B2B organizations specifically, it can take over many of the lead nurturing tasks that happen at the top of the sales funnel – allowing humans more time to interact with prospects during the critical decision phase of the sales process.
Artificial intelligence takes over many of the time-consuming tasks and augments data-driven research by more quickly finding patterns and making recommendations, while human intelligence supervises, guides and manages.
So people will do their jobs faster, better and smarter. Automation replaces useless redundancy and decreases the amount of data an employee must wade through to accomplish an assignment.
The artificial intelligence will improve all industries and verticals– back-office tasks such as payroll, administration, invoice approvals, etc. As we’ve seen with the increasing use of chatbots, more businesses have come to understand what processes they are able to streamline, and executives and employees alike have become more comfortable working alongside automation programs.
A recent Deloitte survey of business executives concluded that more than 80% of executives gained a financial return from AI investments. Automation can create economic growth, reduce prices and increase demand while also creating new jobs that make up for those that disappear.
We’re seeing this in the ERP market especially; many software vendors have recently created their own versions of digital assistants like Siri, Alexa, Cortana – or are creating applications that allow users to have a conversation with their ERP software through one of these bots.
These consumer chatbots can also streamline tedious employee tasks such as scheduling appointments, directing payments, following up on invoices – all from within a conversational interface. Soon you may be asking Siri, Alexa or Wanda to find the best deal and book your flight for an upcoming business trip!
It is more important than ever to prepare yourself, your team, and your organization to develop a strategy to leverage artificial intelligence. And keep in mind – AI, when used correctly, is about empowering people to do more and better than humanly possible.
The future is here! The artificial intelligence is your helper, not your enemy! Take action now and don’t look back!
Artificial Intelligence Sales Funnel for Your Business
Do you want to sell your own product?
Or how about building a list of buyers?
If you’re like most people, you KNOW these are great ideas.
But it can cost $15,000 to do it all…
With software developers, video editors & website builders.
So, what’s the solution?
Well, have you ever heard of “Done For You Affiliate Funnels”?