Artificial intelligence is a buzz word in the era of the Fourth Industrial Revolution. Artificial intelligence, simply explained, is the simulation of human intelligence processes by machines. These machines learn by obtaining the right information and applying rules, reflect on these rules, and possibly correct them, in order to arrive to certain conclusions and more precise and accurate forecasts.
Artificial intelligence has been applied in different sectors: in the financial sector for algorithmic financial trading strategies, in the medical field for patient predictive monitoring or in the automotive industry for autonomous driving vehicles. But how does artificial intelligence interact with the emotional and creative abilities of humans?
Not only must we focus on intelligence, but we have to take into consideration creative and emotional aspects. For instance, when it comes to customer relationships, empathy and understanding are elements that should not be underestimated. In this sense, artificial intelligence is increasingly becoming part of our lives as consumers, especially as a “consultant”. Every day we receive “reliable advice” when we use Amazon, Netflix or Spotify. Indeed, Amazon may have made too many reliable recommendations as our orders and “Wish Lists” never diminish!
Just try to imagine a successful “automated” consultant with powers to plan, empathize, imagine, perceive, analyze, communicate and predict strategic business decisions! Customers are hungry for timely, complete and error-free information. Since technology affects the customers in all sectors—retail sales, the banking sector, logistics and pharmaceutical products—it should be also part of the strategy to improve and grow relationships with customers. We have already started using artificial intelligence to automate “basic” activities, but technology can also assist us in making complex decisions in key areas such as human resources, marketing, capital allocation and even corporate strategy. The use of artificial intelligence in human interactions and a personalized and customer-related relationship will be a matter to be addressed soon.