As the year, which saw several AI, ML and IoT innovations hit the headlines, coming to an end in the next few days, Tata Communications sees mainstreaming of Artificial Intelligence and evolution of Internet of Things and block chain in 2019.
“Already well established in many businesses, IoT applications and services are leading the pack in having the greatest positive impact. It helps businesses gather and analyse real-time data to enable everything from improving the customer experience to streamlining supply chain operations,” Srinivasan C R, Chief Digital Officer of Tata Communications, says.
Commenting on the likely Digital Transformation Trends for 2019, he said the technology would be implemented in a more meaningful way in 2019, as more interesting use cases emanating from different verticals.
AI to go mainstream
AI and machine learning, which are increasingly being integrated into a variety of services, are making the technology far more accessible and digestible than it was just a few years ago.
“We at Tata Communications are using AI to sharpen our recruitment processes, for example. Previously, our hiring managers used to skim through job descriptions to shortlist candidates. Now, they save time and effort by using an AI-based automated tool that auto-matches a candidate with best-in-class individuals, with the latter acting as the benchmark,” he said.
Citing the Cycle of Progress survey that the company conducted globally recently, he said AI had already been adopted by 46 per cent of global businesses (that the company surveyed).
“About 43 per cent of decision makers see AI as having a positive impact, and only 3 per cent of business leaders think that it will have a negative impact,” he pointed out.
Evolution of Blockchain
The New Year could also see evolution of Blockchain, the shared ledgers technology ensuring security, while increasing efficiency. “The potential of blockchain goes way beyond crypto currency, and our survey shows a global implementation rate of 44 per cent,” he said.
While the outlook for digital transformation is positive, it comes with certain challenges. “Cost seems to be the biggest barrier to integrate new innovations. Security and privacy too pose challenges,” he said.
The ever-growing skill gap too is a major concern as it prevents businesses from adopting the latest technologies.