There is no question that the rise of AI (Artificial Intelligence) is gaining strength as industries across the globe look towards the revolutionary technology to change how work and with the introduction of the new 5G network.

Transcending into all industry sectors from Manufacturing and Engineering to Retail and Wholesale, the rise of AI could ignite the biggest shake up on industry sectors and job reform since the introduction of the desktop computer.  It is anticipated that the rise of AI is set to replace some methods of working whilst it is estimated that it could create 133 million jobs globally.

Explaining the preconceptions of AI and its future, Microsoft believes that every company will be an AI company in the next 5 years; however, due to concerns that people do not fully understand the technology and therefore could be left behind.  In the last 12 months Microsoft have set up a pilot AI business school here in the UK to focus on education, discussion and R&D so that they may deliver AI skills development to individuals and business.

Business will need to embrace the rise of AI to stay with and ahead of the market

Whether it’s Machine Learning (statistical methods of examining data) or Natural Language (processing speech recognition), what is certain is that companies and organisations need to think about how they too could embrace the rise of AI to provide themselves with a competitive edge and keep them at the forefront of this ever-changing market.

Is your business or organisation looking at new ways to incorporate the rise of AI and new technology processes into your business?  At Crendon Insurance Ltd we support businesses with technology insurance to find the right solution to protect your company including processes of manufacturing and services, cyber security, intellectual property, plus much more.  For a confidential review of your company please contact us or see our insurance website pages for more details.

To find out more about how AI works and what it means, please read our July 2019 blog article – How AI computer technology could be used in businesses of the future

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