It is extraordinary to think just how advanced mankind has become in the world of technology. With each new year comes a heap of new tech luxuries, from phones, to gadgets, to software, and so much more that we aren’t even aware of – it is a wonder how inventors have anything left to invent! And yet, here we are, witnessing the rise of technology so advanced it has a mind of its own. Over the last decade or so, scientists and engineers have refined this artificial intelligence (AI) and its capabilities have since revolutionised the way we live in more ways than one.
As technology advances, daily lives get busier, and the younger generation of shoppers take the internet by storm, the demand for an exclusive and personalised online shopping experience rises. Customers choosing to engage with a brand via its online platforms are beginning to expect the same level of personalised treatment as they would from visiting a high-end store in person.
In order to adapt and meet this demand, brands are starting to utilise AI to create this sought after, individually tailored online retail experience. Simply put, the AI technology collates data from the sales and interactions of their customers online, identifies a number of trends and patterns, analyses the results and then produces a customised online shopping experience.
The betting industry has also started to reap the benefits of artificial intelligence with companies such as CrystallBall.org using AI powered software to generate football betting tips and predictions. This particular site uses an AI algorithm to produce three betting strategies for clients to choose from, depending on their preferred risk, return and investment amount. With completely customisable strategies, calculated value bets, optimal stakes suggestions, and advanced visualisation of their portfolio development, betting sites like CrystallBall.org use AI to enable keen sports betters to help beat the bookmakers and empower them to become better sports investors.
The luxury of time
Straying from the materialistic and physical notions of luxury – but a luxury none the less – is time, especially for brands and businesses competing to tackle the challenges of the 21st century. Artificial intelligence is finding its way into the strategies of many luxury brands for one simple reason: it gives them more time.
AI can appropriate the tedious and time-consuming tasks within a company, whether that’s data analysis, spreadsheet creation, number crunching etc, and eliminate the hours of manual calculation previously required for such jobs ultimately giving workers and the company more time. Not only that, but AI, as a computer-based intuitive technology, is a brand’s most efficient and unemotional tool for analysing data in order to improve their performance.
One of the greatest luxuries we could have, but often taken very much for granted, is healthcare. It highly probable that all of us at one point in our lives, whether for something small or something very big, have benefited from some kind of medical or health care. For those of us lucky enough to have this service readily available and at our disposal, it might be interesting to note just how big a part artificial intelligence plays in the world of medicine.
Just to name a few applications of this technology: AI can help diagnose diseases by using digitised information to create algorithms that can conclude and diagnose the way a doctor does; much of the analytical work involved in developing drugs can be made incredibly more efficient, both in time and money, with the use of AI; and AI can help to create personalised treatments for patients by cross-referencing data from other patients and their treatments and outcomes in order to make predictions on a person’s response to a particular treatment and allow doctors to design the best treatment plan.