We have heard a lot about the capabilities of artificial intelligence and virtual reality in changing the world. Sure, they now take part in the development of gadgets and entertainment, but with the business? You’ll be surprised how they are involved in the entrepreneurial world. From the view of Montserrat Corominas Founder & Managing Partner at Intergroup Partners, Zürich, Switzerland, AI/VR will create a drift in business communication and processes.
The relevance and importance of AI and VR for business
The participation of AI and VR in rapidly evolving business communication is crucial for adaptation. A few of the big names in the business industry have inherited the new way of business dealings in digitized form. One of the best examples is the mass adoption of Chatbots. Chatbots are highly similar to the process during video games, where the player interacts with the computers. It is conversing in scripted chats where the results of the game vary depending on the person’s responses. Such interfaces are now widely implemented in different industries, and can potentially disrupt the use of particular Apps.
Just like with the use of Chatbots or AIs for business communication, the use of VR can as well be disruptive. Being able to enter a collaborative, immersive virtual environment no matter where you are in your business is an obvious implications of VR technology. In fact, there are now companies that make use of AI/VR for customer interaction and business development. Such as, Digitalstrom is now using such technologies for smart interaction with their customers when it comes to home solutions; while UBIMAX is currently manufacturing and marketing wearable solution technology to increase business process efficiencies.
Understanding the relevance and importance of these technologies to business will enable the competitive entrepreneurs to keep up with the game.
What to do
Being able to get a picture of what to expect during the digital evolution will equip the businesses with proper tools for adaptation. The most crucial tip is that businesses must learn to create intelligence out of conversations instead of focusing solely on efficient operations. We must know how to anticipate the following changes in order to foresee its accompanying consequences:
- Particular affected apps may begin to disappear over time
- Websites may become less important; information shared on websites will be stored in the cloud that can be accessed by services that need it
- With AI, communication will improve and information will be easier to access
- Customer communication will be affected by this rapidly growing technology, and it will play a part in your business’ success
- Learn how AI bots are developed and implemented; from Chatbots (e.g. Slack), to bots in interactively learning appliances (e.g. digitalStrom, Whirlpool), and to bots in automotive from areas of R&D (e.g. Honda) to car sharing applications (e.g. Car2go, Drivenow)
- Be updated about AI & VR global public policy and regulatory issues
As the world moves forward towards digital revolution, businesses must see this change as a positive phenomenon rather than a challenging task. In the change of business interface, leaders must know how to evolve and adapt. Besides, this shift in communication will improve personal and business connections, as change always implies new business opportunities and models to explore. Being able to see this upcoming business evolution will equip the leaders with strong skills, and strategies for adaptation to keep them leading the entrepreneurial race.