The significance of Artificial intelligence in the post COVID-19 era

The significance of Artificial intelligence in the post COVID-19 era

Artificial intelligence is changing the way we do business. The world is swiftly progressing, with major industries embracing this new approach to data collection and analysis. Organizations across various verticals including education, finance, media, insurance, communication and many others are looking to adapt more unique ways of understanding their audience which will help increase their visibility, in turn helping generate more revenue. Analyzing millions of data points and deriving conclusions is a tedious task. The E-commerce industry in particular have to look into several variables. AI-powered solutions help address challenges in any given business setup, with tools created to respond to customer queries round-the-clock. AI and machine learning algorithms can effectively categorize various types of data and analyze them in a short span of time. The geo-economy is a good indicator of the peculiarities of any market, nevertheless it needs to be combined with other variables such as age groups, gender, purchasing power, correlated products or services so as to define consumers' behavior. This is the era of collaborative consumption, wherein consumers can obtain and provide all sorts of resources. Those consumers who are a part of a sharing economy which is increasingly based on performance and results.