Modern AI technology is Boosting Your Business, Here is why

Are you running a business? Do you see any upgrade in your business? Thinking to boost business productivity and profit? Then this article is for you.

Life has undergone so much of changes so far, perhaps it is not a barter system anymore. The paper currency is still running around us but the trend is slightly different as of now.

You might have heard of Siddharth Mehta Bay Capital CIO, who is a renowned investor, philanthropist, and financial advisor. He believes that no one can run away from any evolving technology that exists. While interacting with some of the prominent industrial giants in a seminar, his words were, “Current trend in the Artificial Technology (AI) is the need of the hour as per the business trend in the market, but this technology needs a proper harnessing, should be regulated properly.”

Siddharth Mehta IL&FS the former director believes that technology such as ChatGPT, Chorus.ai, BardAI and Infosys Nia, and many more are constantly evolving, shaping the industries in terms of work and output.

With a population of more than 1.428 billion, the majority of the population in India is a smartphone user. The phone itself works on the machine, the AI algorithms or it could be the technology of Deep Learning, which is user-friendly technology that interacts with us in the form of Alexa, Siri, and many others. This has paved the way for the technology which are currently upfront.

This technology can process a vast amount of data with its advanced mechanism and gives accurate data. It saves your time and effort and the chatbot helps you to enhance the customer experience with its human-like real-time assistance.

You may have also encountered that vegetable and fruit vendors are also accepting digital payments. Since they are not that aware of technology but still the inbuilt AI appears to be user-friendly to them. Through this now they just show a QR code and get their payments.

Digital payments or UPI have transformed the economic activity of the majority of people. Many big fintech companies in India are being benefitted from this vast population in terms of digital activities. IT firms are planning to adopt the latest trends in AI in order to boost scalability. Since many developed nations are already in this race and it is also leading the economy of developing nations to be more digitally enhanced.

In conclusion, it will be not wrong in saying that this evolving technology with proper harnessing can transform your business. All it requires is systematic regulation and proper channeling. The technology should be harnessed in a way that should be people and social welfare centric.   

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