By Rajalakshmi Srinivasan, Product Manager, Site 24×7
AI is the next big thing in India with companies leveraging the technology for enhancing their solutions to be more consumer-centric. According to a report, AI has the potential to add $957 billion, or 15 percent of India’s current economy in 2035.
In addition, natural language processing and conversational AI are expected to take a firm foothold in India in the years to come. Big players are already on the path towards it through AI assistants and chatbots. India has been among the fastest adopters of voice computing. Emerging markets such as ours account for as much as 72% adoption of AI assistants like Alexa and Siri.
While this is great news for where the country’s economy is headed, it is also important for business leaders to take decisions rationally. AI is a trending technology and is rapidly growing by the day. However, it must be leveraged carefully as otherwise; it can lead to the downfall of the business.
Some of the world’s biggest tech players have learned the perils of letting AI roam freely within their enterprises. They were later forced to put the muzzle on their AI-powered bots very quickly after the systems began responding to their customers and social media posts with its offensive and racist statements. How an equivalent scenario would play out in an enterprise is a question well worth considering before implementing AI, not after, as it could behave in a way that doesn’t fit with an organisation’s corporate culture and ethos.
On that note, if your IT team and customer service division is jumping on the AI bandwagon or if you are concerned that not having already done so has put you behind the eight ball, this is a roadmap for you to enhance your services without making yourself vulnerable.
It starts with good data and the right tools
Given the malleability of AI, the onus is on businesses to ensure they manage and consistently modulate their newly implemented AI solutions. Doing so will ensure they end up with an unbiased and responsible asset—the digital equivalent of a sober, industrious employee, rather than a thoughtless, out-of-control hire who upsets clients, jeopardises the reputation of the organisation, and requires frequent performance management.
Harnessing the power of AI technology for good, rather than letting it run rampant through the organisation, begins with identifying the right data and having a plan for how it will be used. It is unlikely that a single data set will yield all the information virtual agents need to understand and respond appropriately to more than the most rudimentary of enquiries. Feeding virtual assistants with data from a disparate variety of sources will up the odds of their learning and ability to respond to queries with some of the nuance and tact that comes naturally to their flesh and blood equivalents.
When implementing AI, plan for using the right data. The IT system needs consistent monitoring and revisiting of AI strategy. As AI in its infancy is merely a passive tool, just like the stone age tools which needed a human brain and periodic intervention to function to its fullest potential.
Easing into AI-driven solutions
AI holds enormous promise for organisations with an emphasis on user experience and customer expectations. It starts right from automating mundane tasks increasing productivity, to reducing costs and supplying an intuitive product—provided it is introduced thoughtfully. As the newest kid on the high-tech block, AI-powered solutions should be monitored and managed to ensure they become part of the silent backbone of an efficient corporate enterprise, not rogue actors whose actions require regular remediation.
This initial investment in a long-term relationship with AI will ensure that an organisation’s investment delivers value rather than the opposite. As implementation of AI in businesses increases, it will grow to be more of a generative and intuitive tool rather than a passive one.