Insights from Our Experts
How AI and Predictive Analysis can save your business post-COVID-19?
The post-2008 recession-era saw the boom of cloud computing which led to the foundation of the present technological landscape, more than the conscious choice it could be reasoned as the post-traumatic drive of humans to bounce back by holding on to the whatever best possible option of survival. We are at a similar juncture with this present COVID-19 situation where Artificial Intelligence and predictive analysis could prove to bring the transformation of a magnitude that cloud computing brought in 2008.
It's already transforming
Artificial Intelligence is already being used by tech companies and healthcare to find solutions of every sort, right from using data to predict infection patterns to speeding up the discovery of a new drug or vaccine. Companies are using AI applications to research for a potential cure in existing drugs. AI is helping researchers in identifying potential test candidates and substantially reducing the overall research time that could take years for humans to process and come to conclusions.
Hospitals are already using AI and predictive analysis for screening purposes, generic decision making and automating hospital operations. In the post-COVID-19 era, Artificial Intelligence will find applications not only in medical research and healthcare but in other industries as well.
Predict the business in post-COVID-19
The world has come to a halt, factories are shut, roads are empty and people with access only to bare necessities. Surely things will not be going back to the normal as it was but towards a new normal. But only one thing hasn’t taken a hit or should say has increased is the online presence of people, people are spending more time browsing, reading and watching stuff online than ever and consequently, this is generating way more data than ever. Artificial Intelligence and Predictive Analysis can juice out the essence from this data, and what businesses will have is a blueprint of changing preferences of the user and the things they would be indulging in the post-COVID-19 era.
Predictive Workspace Optimisation
With the lockdown, people are forced to work from their homes and the whole culture of going to a workspace and working seems to have vanished for now. This may even change the workspace culture forever and looking at the time people can save on commuting from home to office, as a good chunk of people may keep working from their homes. With Artificial Intelligence and Predictive Analysis, an employer can better manage the workspace and its operations, predictive analysis can help an employer identify the priorities and better delegation of work. The more optimized management of resources will help the employees in adding more value to the work they do and irrespective of the location of work an employee can deliver the productive output. An employer can save cost on the resources he is spending on the workspace and a happier employee with flexibility and freedom to do his work it will be a win-win for the employer.
Proof that AI and Predictive Analysis is no more hype but reality
Based on the current data about COVID-19 transmissions inside hospitals and non-hospital settings and data from the previous outbreaks such as SARS and EBOLA, the researchers from Stanford University have developed a predictive model that provides the best practice guidelines for operating room team members during the COVID-19 pandemic.
As per World Health Organisation executive director, Dr. Michael Ryan in such unprecedented dire times surveillance is a necessary action for life to return to normal till a vaccine is found, governments worldwide are tracking surveillance camera footage, smartphone location, credit card swipes to trace the movement of people who may have contacted COVID-19 and transmission chains. This generates a hoard of data that Artificial Intelligence uses to predict infection patterns and insights otherwise invisible to humans and develop more effective surveillance systems.
We are witnessing the real-life application of artificial intelligence and predictive analysis on a day to day basis and this, in fact, gives confidence to businesses and enterprises who were skeptical about the transformational capabilities of AI and predictive analysis. Irrespective of the field of application, AI and predictive analysis makes a system more efficient and intelligent.
It's a tough road ahead but AI and Predictive Analysis can make this ride less bumpy
We have seen that after the 2008 recession the businesses have boomed to their best-ever profits and revenues and a major credit for this goes to the technological tools that businesses made use of and with the current situation it's time for businesses and enterprises to choose the right tools to help them cover the lost ground, and honestly, Artificial Intelligence could do to the industry what electricity did to Industrial Revolutions.
Turn the crisis to your advantage,get in touch with us for free insights.