To properly prioritize sought-after competencies and prepare your workforce for the coming challenges and opportunities, a data-driven approach is needed.  

According to the third annual Coursera’s Job Skills Report, which stands as a valuable reference for developing innovative skill strategies, there are 8 key fastest-growing skills for 2024: 

• Leading Teams with Empathy  
• AI-Related Skills for Increased Productivity  
• Cybersecurity and Information Security  
• Business Skills & Digital Marketing as Core 
• Data Visualization for Faster Decision-Making  
• Cloud Computing  
• Audit and Compliance Skills  
• Customer Retention 

Top Job Skills Driving Innovation in 2024: Overview 

Here’s a quick summary of the fastest-growing job skills in business, technology, AI, data science, and cybersecurity for 2024: 

Fastest-Growing AI Skills  

Estimates at Bloomberg Intelligence show the market for AI solutions is set to grow to $1.3 trillion over the next decade, while job listing site Upwork reported a 1000% increase in the number of generative AI job posts made in the first half of 2023.  

Not surprised? So are we. Explore below the fastest-growing AI skills enabling learners to build ML models, facilitate automation, and more.  

Cloud Computing  

Gartner expects the global cloud computing market to have skyrocketed from $490.3 billion in 2022 to $591.8 billion in 2023.  

It presents an exciting opportunity for businesses and job seekers, with cloud computing jobs being some of the most in-demand roles in the tech industry.  

Cybersecurity  

With the critical need to protect against growing numbers of cyberattacks worldwide and the increasing capabilities of AI creating new security considerations, investment in cybersecurity skills will benefit employees and institutions alike in the year ahead.  

There’s an estimated shortfall of more than 3.4 million cybersecurity workers. That figure is likely to climb, with employment of information security analysts expected to grow 32% from 2022 to 2032 in the United States alone. 

Audit and Compliance Challenged by AI Regulations 

Only 37% of HR leaders, in-house counsel, and executives guide employees in using AI tools.   

Meanwhile, data privacy and security rank as the top concerns of Chief Intelligence Officers regarding AI.  

With generative AI transforming productivity, it will be crucial to develop the capability of employees to review and evaluate an organization’s compliance.  

Customer Success 

Customer success and relationship management skills are among the top ten fastest-growing business skills.   

According to McKinsey, unlocking new revenues from existing customers accounts for 80% of value creation in leading growth companies.  

So, there is a burning need for businesses to navigate customer retention and expand the value delivered to both current and potential customers. 

Leadership   

“Manager effectiveness” is ranked as the top priority for HR leaders—and employees are facing change fatigue, with willingness to support organizational change collapsing from 74% in 2016 to 43% in 2022.  

To effect change, the leaders of tomorrow will need to be agile, compassionate, and able to keep individuals and businesses aligned.  

Data-Literacy as a Baseline Expectation for Employers  

Today, only 11% of employees are confident in their ability to read, analyze, work with, and communicate with data—showcasing the vast need for upskilling and learning.  

Institutional leaders recognize the need to respond, with 85% of C-suite executives believing that being data-literate will be as vital in the future as the ability to use a computer is today.  

So, data visualization with the help of business intelligence software also joined the top of the fastest-growing skills.  

Digital Marketing   

The rapid growth of the global advertising and marketing industry, which is expected to rise to $1.5 trillion in 2030, illustrates the spurred demand for digital marketing skills. In the US alone, employment in digital marketing-related professions is projected to grow rapidly up to 2032.  

Meanwhile, shifting consumer behaviors—powering trends like increased social selling—with 76% of people making buying decisions on social media—call for upgraded skills from digital marketers.  

To adapt to a new paradigm, organizations should invest now in equipping learners with the skill sets to deliver modern marketing strategies. 

Your Workforce Check  

By addressing these questions, you may check if your organization has the right skills.  

Strategic Alignment:  

• Which job skills are most critical for achieving your business goals and strategic initiatives?  
• How do these skills differ across departments and levels within the organization?  
• Are there any skills gaps that could hinder our progress, and how can we address them?  

Talent Acquisition & Retention:  

• How can we attract and retain top talent who possess these critical skills?  
• What are our competitors doing regarding these skills, and how can we compete effectively?  
• How can we develop and upskill our workforce to meet these changing demands?  

Future-Proofing the Organization:  

• What emerging technologies and trends might impact the skillset we need in the future?  
• How can we invest in skills that will remain relevant and valuable in the long term?  
• What kind of culture and learning environment do we need to foster continuous skill development? 

How to Find and Hire Sought-After Specialists with Digital Mindsets in 2024 

While a business-driven digital mindset is critical for increasing competitive advantage, leaders need well-established best practices to find and onboard it or unlock it in current employees.  

Wherever you are on your digital journey, we’re ready to help. Our experts can support you with extracting your potential to transform, innovate, and grow by:    

• Delivering digital mindset—the only one that can help with innovation: technical expertise ensures your digital programs and processes are up to date and as efficient as can be.  
• Integrating top talents with your current team through the Remote In-Sourcing® model.  
• Forming the most efficient distributed teams through the just-right Team Formation methodology. 

With a digital mindset, you’ll ask the right questions, make smart decisions, and appreciate new possibilities for a digital future. Leaders who adopt advanced approaches will be able to develop their organization’s talent and prepare their company for successful and continued digital transformation. 

Feel free to connect with our experts to discuss your unique needs and what it really takes for your business to thrive in the age of data, algorithms, and AI.  

Summing Up  

All in all, companies looking to boost competitiveness in 2024 have a wealth of opportunities:  

• Make data-driven decisions while identifying priority skills.  
• Invest in upskilling and reskilling of your workforce. 
• Embrace automation and AI with qualified audit, cybersecurity, management, and marketing professionals on board. 
• Rely on a trusted technology partner to help you source and acquire sought-after specialists with Digital Mindsets. 

The post Futureproof Your Organization with Digital Minds: Top Job Skills Driving Innovation in 2024 appeared first on Intetics.

As we bid farewell to this remarkable year, it’s impossible to ignore the exhilarating journey of technological breakthroughs that have unfolded before us.

While AI certainly stole the spotlight, it wasn’t the sole hero of this tale. Generative AI models took center stage, captivating industry giants and innovative newcomers.   

However, the 2023 revolution extended far beyond just AI; Web3, AR/VR, and quantum computing emerged as catalysts, propelling generative AI into uncharted territories and promising an exciting future filled with endless possibilities.   

Join us on a journey through the top innovations of 2023, a year that redefined the IT industry and offered a glimpse into the tech-driven world of tomorrow tailored to your needs and interests. 

I. ChatGPT: Impacting Industries and Shaping the Workforce

ChatGPT, despite technically being launched in November 2022, became the standout narrative of 2023. The key breakthrough lay in ChatGPT’s ability to humanize technology. Unlike traditional search methods requiring specific phrases, ChatGPT responded to natural language.  

Now, it’s transforming industries, including software development, and raising questions about its impact on jobs as it takes over tasks once done by humans. 

Evolution and Advancements 

Over the past year, ChatGPT has learned to adapt to a range of user needs, from writing emails to enhancing resumes and even supporting the creation of businesses.  

At the start of 2023, there was only a free version with text-based responses available.  

Now, users can subscribe to ChatGPT Plus to access the latest version, ChatGPT-4. 

According to OpenAI, ChatGPT-4 has seen improvements in training on more data, generating fewer errors, and understanding nuanced instructions.  

A notable addition is its ability to “see, hear, and speak,” which allows subscribers to have voice conversations and share images for ChatGPT to process. For example, they can take a picture of a flower and ask about its type and care instructions. 

At the core of ChatGPT’s prowess are Large Language Models, and OpenAI’s GPT-4 served as the driving force. The LLM landscape expanded in 2023 and featured newcomers like Google’s Gemini LLM (empowering Bard, a ChatGPT competitor) and others, including Meta’s Llama 2 and Amazon’s Olympus. 

Google programmer Kenneth Goodman tested ChatGPT on examinations; it scored 70% on the US Medical Licensing Exam and a legal Bar Exam. It also did well on other tests—78% on a high school chemistry exam and reached the 40th percentile on the Law School Admission Test. 

The Use of ChatGPT in Software Development Tasks 

One key advantage of ChatGPT for developers is its ability to comprehend and execute precise coding instructions. Developers can articulate the purpose, parameters, and expected outcomes of their tasks in a conversational manner. They can also engage ChatGPT in a dialogue to explore various AI libraries and coding resources.  

Read also: ChatGPT for Software Developers: Better Code, Increased Productivity, and Premier Product Quality [With Examples of Prompts] 

ChatGPT as the Biggest Fear in Replacing the Workforce 

2023 was full of debates about work replacement. Can ChatGPT replace developers, for example? Not in the present moment, or at least not as of now.  

ChatGPT operates at the proficiency level of a skilled first-year programming student with a tendency towards idleness. The tool makes coding easier for programmers and saves time, especially for those with less experience; however, it can’t handle complex projects on its own now.  

However, the chatbot’s capabilities have exceeded expectations. According to Google, the search engine would consider hiring the bot as an entry-level coder based on its performance. Moreover, according to a recent study by Goldman Sachs, generative AI tools may impact around 300 million full-time jobs globally. 

Anu Madgavkar, a partner at the McKinsey Global Institute, emphasized seeing these tools as helpers for productivity, not total replacements. She also highlighted the need for a careful approach to using them. 

II. First AI Legislation in the US

The surge in popularity of ChatGPT was followed by concerns about AI’s impact on jobs, misinformation, and its potential intelligence, and this has led to regulatory efforts. In November 2023, President Biden issued an executive order introducing the first set of rules for AI systems in the United States.  

The regulations require rigorous testing for advanced AI products to prevent their misuse in biological or nuclear weapons. Also, to address fears of AI-generated deep fakes and disinformation, there are recommendations (though not requirements) for watermarks on AI-generated photos, videos, and audio. 

For now, these rules apply only to American companies. To overcome this, the US administration is urging other countries, both allies and adversaries, to adopt similar regulations. The European Union’s AI Act was finally agreed in December. 

III. New AI-Driven Marketing and Design: Midjourney, Genmo, and AI Podcasts

In 2023, AI-based text-to-image generators like Midjourney, Genmo, DALL-E, and Stable Diffusion reached new levels of realism. This led to a wave of viral AI-generated photos, like a Midjourney-generated image of Pope Francis in a white puffer coat. What this showed to industry professionals and the public is that creating viral marketing campaigns could now be done with just a few prompts. 

There was also an interesting case of Coca-Cola collaborating with OpenAI and launching the Create Real Magic campaign, inviting consumers to create Coke-related artwork using generative AI. 

In the podcasting space, text-to-speech systems convert written content into natural-sounding audio. The first AI-generated podcast that gained traction took a unique approach — it used the cloned voice of popular podcaster Joe Rogan. The Joe Rogan AI Experience simulated conversations between AI Rogan and fake guests like OpenAI CEO Sam Altman and former President Donald Trump. 

Despite its AI nature, the episode garnered over half a million views on YouTube, with some listeners overlooking its artificial origin. It’s unclear, though, whether people’s initial interest was just because it was something new and different or a lasting attraction.

IV. Growth of AI Assistants

2023 was also the year of AI assistants. Microsoft is investing heavily in gen AI tools to transform how users engage with Windows PCs using the AI assistant. 

The idea is simple: with just one click on the taskbar, more than half a billion Windows 11 users can use Copilot for various tasks, like creative support in Microsoft 365, shopping advice on Edge, and meeting summaries on Teams. No third-party application or extension is needed. 

MIT Technology Review already reports that if you asked a group of computer science students or programmers if they used Copilot, many would raise their hands. According to Iansiti, a Keystone Strategy co-founder, professor at Harvard Business School, and one of the interviewees, Copilot and similar tools might add $1.5 trillion to the global economy by 2030. 

Though it’s a rough estimate, Iansiti thinks the actual impact could be even larger. On the one hand, companies could obtain more code for less money. On the other hand, they could expect more people to become coders because these tools make it easier to get into software development. 

For example, Intetics has adopted AI in its teams and uses it for tasks like development, testing, business analysis, UI/UX design, and management, including talent acquisition and talent management. This confirms the growing recognition of AI’s transformative impact on business functions. 

V. Interest and Practical Applications of Digital Twins

Digital twins, virtual replicas used to simulate real-world behavior, are proving invaluable and notably reduce time to market. McKinsey reports revenue increases of up to 10% through customer-focused digital twins. Daimler’s customer twins, that allow virtual “test drives,” are a perfect example of this. 

Mercedes-Benz and Daimler Truck are digitizing their entire automotive value chain, which sets the stage for the future of manufacturing. Their breakthrough solutions are set to enhance data flow, reduce costs, and boost operational agility. 

Several other developments were showcased at SPS 2023 by AWS Partners, including:  

• Bosch demonstrated an Integrated Asset Performance Management solution using AI/ML to prevent asset failures and reduce unplanned downtime. 
• Software AG can now help equipment manufacturers build digital twin platforms for connected machinery. These allow manufacturers to create precise digital representations of their asset fleets and incorporate real-time performance data. 

VI. Metaverse for Enterprises: A New Platform for Leads Generation, Sales & Marketing, Events, and HR

The metaverse is enhancing the ongoing trend of personalized user experiences driven by mobile internet. Consumers are expected to use the metaverse as an advanced virtual space to enrich their real-world experiences. 

In 2023, businesses became better at harnessing the potential of the metaverse as the preferred digital realm for consumer engagement. For example, TCS, a major IT service provider, is investing in its metaverse project, ThemaTICS, and aiming to create immersive experiences in areas like e-commerce and workplace training. Nike is doing Nikeland, a “micro metaverse” within the Roblox ecosystem. And there is more to come. 

Like any evolving trend, the move to the metaverse will unfold gradually and continually, without a clear start or end point for the metaverse era. 

VII. AR and VR Experiences: Apple Vision Pro

Generative AI amplifies the potential of AR and VR and leads to better products as a result. The game-changer this year was Apple’s headset. 

Apple’s Vision Pro headset was unveiled at the Worldwide Developer Conference after seven years of development. The project is described not as a mobile device but as a “spatial computer.” 

Despite its $3,500 price tag and limited initial audience, the Vision Pro is anticipated to open the door to a new level of mixed reality experiences. ZDNET’s Editor in Chief, Jason Hiner, left WWDC convinced that Apple’s breakthroughs would redefine the next decade. It became available for purchase on February 2, 2024, in the United States. A worldwide launch has yet to be scheduled.

VIII. Hyperautomation

The term Hyperautomation, referring to a methodical, business-centric strategy, was first coined by Gartner in 2020. So, it isn’t new. The key change from previous years to 2023 is that hyperautomation is speeding up. There is an increasing shift towards digital-first strategies, which is why IT teams are dealing with a surge in processes and data, and they need automation more than ever.  

Boris Krumrey, UiPath’s Global VP of Automation Innovations, highlighted in a recent talk with Technology Magazine that AI-powered automation is going through a big change with the introduction of generative AI. Krumrey believes that when generative AI collaborates with automation, it brings revolutionary benefits to businesses and ushers in a new era of efficiency and innovation. 

IX. Quantum Computing

McKinsey estimates that by 2030, there will be around 5,000 operational quantum computers. Despite their limited number, Quantum AI is believed to be one of the key reasons quantum computers stand out from the computers we use today. So, what happened in the field in 2023? 

IBM introduced the Heron processor at its Quantum Summit, and the product featured architecture designed to provide the highest performance and lowest error rates among all its quantum processors. Additionally, IBM presented the Quantum System Two, its first modular quantum computer, located in Yorktown Heights, New York. The system operates with three IBM Heron processors and control electronics. 

UC Berkeley, Harvard University, University of Cologne, University of Washington, Argonne National Laboratory, The University of Tokyo, Fundacion Ikerbasque, Qedma, Algorithmiq, and Q-CTRL all focus on the potential of large-scale quantum computing. This goes beyond solving problems native to quantum computing, as they’re also figuring out how to combine quantum and classical systems. 

Recent breakthroughs in AI have brought new energy and optimism to the tech industry, and some would even say they’re filling a void from previous years. 

Think about this: ChatGPT has over 100 million active users, and even C-suite executives personally leverage gen AI tools for work. Ignoring or dismissing gen AI as a passing trend is no longer an option.  

Extend your business opportunities with advanced solutions and stay tuned with Intetics, AI-First SoftDev Company. 

The post 2023: IT Revolution–Top Innovations That Redefined the Industry appeared first on Intetics.

This is our 2023 rewind—remarkable moments, recognitions, and achievements.  

TLDR: 13 global awards and recognitions, clients’ long-standing trust, AI-first SoftDev company, Advanced AWS Partner Tier, Live QA Workshop for businesses, and more.   

1. 13+ Global Recognitions and Awards 

Thanks to our clients’ trust, in 2023, Intetics received over 13 global awards and recognitions. These accolades affirm the role of expertise, innovation, and commitment to quality in boosting client confidence while choosing their development partner “perfect match:” 

1. FORTUNE & Statista: America’s Most Innovative Companies 2023, featuring 300 U.S.-based businesses renowned for their top-ranked product innovation, process innovation, and innovation culture.  

Intetics entered the Top 46 global leaders in the Technology category alongside esteemed industry giants such as Apple, Microsoft, LinkedIn, Twitter, Oracle, Cisco Systems, Intel, HP, eBay, Meta Platforms, and other major industry players.  

• 110th position in the overall ranking 
• 213th position in the Product rank 
• 31st position in the Process rank 
• 35th position in the Culture rank 

2. IAOP® 2023 Global Outsourcing 100® List for the 17th Straight Year + 3 GO100 Sub-Lists for Customer Success, Industry Recognition, and Innovation 

3. Inc. Power Partner Awards 2023 – Artificial Intelligence and Data Category  

4. GSA UK Strategic Sourcing Awards 2023 – Finalists in 2 Categories: Technology Enabled Project of the Year, Excellence in Partnership Collaboration    

5. Clutch Awards 2023: 8 Recognitions and 29 Reviews  

• Top 1000 Global Service Providers in 2023 
• 2023 Clutch Global Leader  
• 2023 Clutch Champion Winner  
• and more. 

6. AWS: Advanced Services Partner Accreditation  

7. AWS: GameDay Partner League North America Cup Double Winner  

8. Top 100 Women of the Future in Emerging Tech – Irina Dubovik  

9. GoodFirms Leaders Matrix – The Best Company to Work With in 2023  

10. SuperbCompanies – Top Software Development Companies in the USA  

11. The Manifest:   

• Top 50 Artificial Intelligence (AI) Companies in Krakow 2023  
• Top 100 Software Development Companies in Krakow 2023  

12. TechTimes: Top 5 Internet of Things (IoT) Solution Providers in 2023 

13. CIOviews: The 10 Most Innovative AI Solution Providers to Watch in 2023 

2. Valued Clients’ Choice: Keeping Trust over the Years 

In recent discussions with two of our esteemed long-term clients, we explored their initial motivations for seeking a reliable technology partner, why they ultimately chose Intetics, and the outcomes derived from such a partnership: 

• Murat Kuru, Brava’s former Chief Engineering/Information Officer—one of the first Intetics clients—shared how custom software empowered their proprietary breast shaping system.  
• In an exclusive conversation, Charles O’Hearn, President and Founder of Summit Educational Group, shared how they developed an ERP System from scratch in just 12 months to help thousands of American students prepare for the bright future. The cooperation with Intetics was the most prominent software development project Charles’ business has ever undertaken. 

3. Advancing Best-in-Class AWS Consulting for Enterprises: New APN Status, Joint Webinar Series  

Back in 2018, Intetics achieved APN Standard Consulting Partner Status. After several years of maturing capabilities in the AWS ecosystem and helping dozens of clients add value to end customers, AWS granted our company the Advanced Services Partner tier.  

“The Advanced Services Partner accreditation strengthens our relationship with AWS, accelerates the cloud transformation we deliver, and allows us to come up with innovative ways for our clients to delight their customers. Congratulations to the team for working hard to reach this accomplishment!” 

Boris Kontsevoi, Intetics CEO and President 

On March 23, Hamdy Eed, AWS Sr. Partner Solutions Architect, and Sergey Dudal, Intetics PM/Cloud Solutions CoE (Centers of Excellence) Leader, hosted the 4th joint AWS series webinar titled “Serverless Security on AWS.” Experts shared how to build secure serverless applications on AWS and the best practices to follow. 

The purpose of the webinar series was to: 

• demonstrate that production platforms can be built on top of Serverless architecture, 
• show a set of tools that can simplify business processes, 
• key features of AWS services, 
• and the main things to remember when building serverless platforms in AWS. 

The whole series is available on YouTube: 

1. Value Proposition of Using Serverless on AWS for Business 

2. Building and Transforming Your Applications into Serverless on AWS 

3. Monitor at Scale Your Serverless Application on AWS 

4. Serverless Security on AWS 

4. AI-First Softdev Company 

In 2023, we embraced AI automation to shift focus from mundane duties to delivering value. Integrating AI assistants across the organization’s departments significantly enhanced productivity, with teams experiencing efficiency gains ranging from 20% to 40%. This surplus time is now dedicated to innovative design endeavors aimed at enriching client experiences.   

Here are the key highlights of our AI-driven transformation: 

• AI/ML Hub: Launched to enhance expertise in building AI/ML solutions to cover client’s pain points and improve internal productivity through extensive use of AI across the company.  
• The First Gen AI Hackathon: “Utilization of Generative AI (GPT-4, BERT, or other LLMs) in Software Engineering,” conducted among our team members. Eighteen bright proposals with great ideas have already been implemented, deployed, and used in our daily work. 
• First-Ever AI-driven Podcast, Future TechTalk: 14 episodes of IT industry news & tech trends and their game-changing impact on businesses. Available on all major digital platforms. 
• AI & Data Category in Power Partner Award by Inc. recognition as one of the top providers who power private business to new heights. 
• Thoughts on AI Regulation: In a publication for Forbes Technology Council, Boris Kontsevoi, Intetics CEO and President, shares thoughts on privacy and security as top priorities while dealing with AI. Explore how instructing people with digital etiquette and education may bring positive change.  
• Conversational AI academic studies conducted by our CEO and President were presented at the stages of global scientific conferences. 
• Generative AI in Marketing: Gen AI creatives & AI-produced videos, AI Avatars, QR Code Art, testing out AI-detectors, and even a fairy tale inspired by our founder’s startup dream—to create the Red Botanic Garden. A special place where every plant and flower is unique and beautifully red: 
   

Dreams should come true, and stories should have happy endings that continue…not just in our time, but in the hearts of generations to come, and their generations to come. The secret Red Botanic Garden stands at the heart of this tale about a white lion and his cub, Leo, and makes the impossible possible. 

5. Quantifying Software Product Excellence: Live Workshop for Businesses 

Global Sourcing Association and Intetics, in partnership with Clutch and Women of the Future, gathered business leaders in a live workshop titled “Quantifying Software Product Excellence: The 8 Pillars of Software Development Product Quality” on November 30.  

Participants discovered a robust framework to “calculate” the levels of technical debt, software performance, UI/UX efficiency, level of security, etc., to make informed business decisions while building, maintaining, and improving their products. 

6. Breakthrough Updates for IT & B2B by Clutch in an Exclusive Interview for Intetics 

Clutch, the #1 global B2B marketplace of trusted partners from 1,500+ business categories, shared exclusive updates with Intetics. Tim Condon, Clutch’s Chief Revenue Officer, engaged in a discussion with Irina Dubovik, Intetics Digital Marketing Director, shedding light on upcoming features and addressing pressing issues within the platform. Read more.   

*** 

Wishing each of you a fantastic celebration! Let’s keep rocking in 2024! Stay connected and join our 15,000+ vibrant tech community on LinkedIn. 

The post Where Software Concepts Come Alive for 29 Years—Intetics: The Year 2023 in Review appeared first on Intetics.

Conversational AI is a highly lucrative technology for enterprises, helping businesses prevent customer attrition, enhance experience, and become more profitable.   

While AI-powered chatbots and virtual assistants are the most popular forms of conversational AI, many other use cases exist across industries.    

Discover business applications, benefits, and strategies for implementing Conversational AI within an organization, peer-reviewed by the global academic community.   

Conversational AI for Business Success: How to Amplify Artificial Intelligence 

On January 4, Pavlo Yalovol, Intetics VP of Innovation, presented the scientific paper ‘Conversational AI for Business Success: How to Amplify Artificial Intelligence’ written by Boris Kontsevoi, Intetics CEO and President, at the virtual stage of the eighth edition of International Conference on Information System Design and Intelligent Applications (ISDIA). 

Read also: AI-Powered Coding Assistants—Friend or Foe for Developers? Pavlo Yalovol, Intetics Vice President of Innovation for ITID Lviv 

The ISDIA 2024 conference brought together researchers, scientists, engineers, students, and industry practitioners to exchange theories, methodologies, new ideas, experiences, products, and applications in all areas of intelligent computing methodologies. Participants explored how AI, ML, and other innovative technologies enhance and safeguard our interconnected world.  

Get a glimpse of the key presentation insights, and feel free to access the full paper by reaching out. 

AI in Action: Advancements, Capabilities, and Transformative Benefits 

Conversational AI and virtual voice assistants with natural language processing (NLP) and machine learning under the hood have emerged to simplify daily routines by handling tedious, time-consuming, or complex tasks. NLP deciphers human language, while ML enables learning from data, making these technologies proficient in human-like interactions.  

The adoption of AI experienced a 10% surge from 2021 to 2023, attributed to the proactive efforts of IT professionals. Projections indicate a substantial annual increase of 38% in the global AI market value from 2022 to 2030.   

Recent research by McKinsey highlights the financial advantages of incorporating conversational AI, positioning companies with a competitive edge, and driving heightened investments in AI development. 

Conversational AI’s Potential across Industries 

AI-driven chatbots and virtual assistants enable seamless conversations, automate mundane tasks, and gather valuable customer insights across Healthcare, Finance, E-commerce, Education, and other industries:

Featured Case Study: AI-Powered Virtual Nurse Helps Over 100,000 Patients Worldwide to Monitor Their Health Daily 

Advancements in NLP: Models & Algorithms 

Recurrent neural networks for generating word sequences enable tasks like text prediction, handwriting recognition, and speech recognition. Explore the newer NLP models, which can answer intricate research questions and process information across multiple languages. 

Different Types of NLP Models 

There are four key neural network architectures:  

• Feedforward Neural Networks (FNNs): Process data unidirectionally from input to output. Suited for tasks without sequential/temporal dependencies. Applied in classification and regression.  
• Convolutional Neural Networks (CNNs): Ideal for grid-structured data like images. Use convolutional layers to detect patterns. CNNs are used in image recognition and object detection.  
• Generative Adversarial Networks (GANs): Composed of a generator and discriminator network. The generator creates data; the discriminator differentiates from accurate data. GANs are employed in image generation and data augmentation.  
• Recurrent Neural Networks (RNNs): Designed for sequential data processing. Feedback loops allow the learning of patterns in sequences. RNNs are applied in language processing and time series analysis. Challenges like vanishing gradients are addressed by LSTM and GRU variants. 

The Ethical and Reliability Challenges of AI 

Discover core challenges faced by conversational AI that businesses should be aware of: 

• Understanding Context: AI may struggle with broad contexts and subtle nuances, leading to misinterpretations.  
• Data Bias Risks: Reliance on incomplete or biased training data can lead to skewed and unfair interaction outcomes. 
• Human Oversight Necessity: Expert review is essential to mitigate risks of unexpected consequences from AI autonomy.  
• Vulnerabilities to Exploitation. AI systems can be exploited for disinformation and propaganda. 
• Consumer Trust. McKinsey survey reveals high consumer trust in AI, often surpassing human expertise. 
• Realism and Validation. AI should not be the sole decision-making tool; rigorous human testing and validation are crucial. 

NLP API Options: A Look into Leading Choices 

There are various APIs (Application Programming Interfaces), which encompass a range of functionalities, including sentiment analysis, entity recognition, text categorization, language detection, text generation, and more.  

Therefore, when selecting an API, several key factors should be taken into consideration: customization and control, complexity of use case, platform compatibility, and integration ease. Some of the prominent NLP APIs are OpenAI GPT, Google Cloud Natural Language API, Google Dialogflow, Amazon Comprehend & Lex, IBM Watson NLU & Assistant, Microsoft Azure Cognitive Services, Wit.ai, spaCy, Algorithmia, and others. 

Key Steps to Developing a Successful Conversational AI Business Model 

Formulating a successful conversational AI business model implies these crucial steps:  

• Defining the niche. Identify a specific domain where conversational AI solutions can provide value. The niche should align with the expertise of the business and cater to a genuine market need.  
• Creating a high-quality product. The product must possess natural communication, complex query understanding, accurate responses, and scalability.  
• Leveraging NLP tools. Integrating NLP enhances the AI’s ability to engage with users intuitively.  
• Integration with existing systems. Seamless integration with established business systems (CRM, ERP, help desk software, etc.) bolsters the AI’s capabilities and elevates the overall customer experience.  
• Developing a go-to-market strategy. This strategy should encompass the following elements: target audience definition, needs and preferences analysis, and marketing plan.  
• Monitoring and optimization. Utilize analytics tools to glean insights from customer inquiries and employ these insights to drive continuous improvements that enhance system performance. 

Conversational AI can enhance lives when used appropriately and aligned with user expectations. Here are a few examples and numbers:  

• Business Process Optimization. Up to 25% cost reduction and 30% productivity growth with record management, task management, auto-scheduling, email filtering, and fast onboarding and training powered by CAI.  
• Enhanced Decision-Making. Up to 95% of information accuracy thanks to easy report generation, advanced analytics, and smart recommendations.  
• Advanced Customer Interactions. Customer satisfaction increases by up to 50% with service/product recommendations, intelligent comparison, and a robust sales funnel.  

Successful implementation demands meticulous planning, experimentation, and continuous monitoring to achieve desired outcomes.  

Are you considering starting to plan and implement conversational AI technologies for your niche? Get started with advanced approaches and industry solutions now. 

More about Conversational AI Business Applications: 

• Conversational AI. The New Era of Human-like Automated Communication. 
• AI Transforming Healthcare Solutions with Conversational Intelligence in Medical Virtual Assistants 
• Chatbot Center of Excellence: Chatbots Turnkey Development 

The post Conversational AI for Business Success: Peer Reviewed Strategy to Build Profitable AI Model [Paper Presentation at ISDIA 2024] appeared first on Intetics.

Here is a fairy tale inspired by this dream. Dreams should come true, and stories should have happy endings that continue…not just in our time, but in the hearts of generations to come, and their generations to come.  

The secret Red Botanic Garden stands at the heart of this tale about a white lion and his cub, Leo, and makes the impossible possible. 

It’s an incredibly great Fairy Tale. AI is like a superpower, but the magnitude of its potential in the future is beyond imagination.

Boris Kontsevoi President and Founder

The concept and the video production is fully realized by Intetics Digital Marketing Team using AI technologies.

This story is a testament to the incredible possibilities of new technologies for creativity, design, and marketing. Just yesterday, it was impossible to create something like this on our own. At Intetics, AI has become an everyday tool for our team. However, with exceptional expertise in the domain, creating such a project solely with AI is possible. Thanks to Boris for sharing the idea for inspiration and my designer for daring to bring this project to life. This fairy tale is a gift for Boris`s Birthday that became, at the same time, a gift within a gift – for adults, children, and their children. I hope each of you will find something meaningful within it.

Irina Dubovik, Digital Marketing Director

The video is made by the Intetics team with AI:
1. Voice – Boris Kontsevoi, CEO and Founder
2. Author and project manager – Irina Dubovik, Digital Marketing Director 3. Design and Production – Dmitry Mokhar, UX/UX Designer

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