Are You Building Any AI Capabilities Into Your Products?
Why Now Is The Time To Join The AI Journey
Jamie Hughes assesses the growing impact of AI in the collaboration arena and highlights the huge opportunities and delicate balancing act of business adoption
Artificial Intelligence (AI) is set to have a similar impact as the Industrial Revolution on global economies and our daily lives – as a bold new age dawns on the horizon.
But are you ready to take advantage and unlock the massive potential as the UK bids to become an ‘AI superpower’ – and capitalise on a £550 billion opportunity.
It won’t be a radical overnight revolution, but step-by-step AI is already playing a greater role in driving business efficiencies, speeding up processes, and reshaping how people can work differently. Evolve IP is determined to play a frontline role, as AI increases resilience, productivity, growth, and innovation across both the private and public sectors.
This is the age of artificial intelligence. Whether we know it or not, we all interact with AI every day - whether it’s in our social media feeds and smart speakers, ChatGPT or online banking. AI, and the data that fuels algorithms, help protect us from fraud and diagnose serious illness. Technology is evolving every day.
AI represents a £550 billion opportunity for the UK over the next 10 years, according to a new report commissioned by Microsoft.
The findings predict multiple ways that AI could boost the UK economy if the country steps up its AI journey. The report also estimates that prompt investment in digital technologies and skills could have an average societal Return on Investment (ROI) of more than 5:1 in the next decade – meaning that for every extra £1 spent by companies, the economy could grow by £5.
Global Race Intensifies
It’s not global tech players preparing for the future. In 2021, the UK Government launched the National AI Strategy, a 10-year action plan to make the UK an ‘AI superpower’.
Politicians are keen to make sure we keep up with the pace of change as the global race to deliver economic and technological transformations intensifies. The challenge now for the UK is to fully unlock the power of AI and data-driven technologies, to build on our early leadership and legacy, and to look forward to the opportunities of the next decade.
In our industry AI is already having some of the biggest impact. The increased adoption of emerging technologies, such as AI and machine learning has yielded significant positive outcomes including a wave of AI innovation across UCaaS and CCaaS industries. This has been driven by the advent of ChatGPT in the consumer space and the introduction of CoPilot into Teams and the wider 365 stack – with Webex innovations also generating customer awareness and demand, as well as a competitive push for providers to provide similar functionalities into their portfolios.
According to Cavell Group’s latest service provider survey, 53% of providers are planning to integrate AI capabilities into their portfolio in the next 12 months as a strategic initiative. These vary from providing meeting insights to users with AI generated summaries and action points to sentiment analysis on calls.
Remaining In Control
While AI is one of the biggest disruptors in the industry, it has also caused increasing concern from both enterprises and providers. According to Cavell’s latest enterprise research, the primary concern from companies around AI is the accidental breaching of customer privacy and protection regulations. Most
governments are currently writing frameworks and legislation around this issue; however, guidance remains limited. Providers are also concerned with AI and its impact on the workforce – with fears many existing jobs could be wiped out.
One of the main contentions providers are currently grappling with is how to price AI and whether to include it in some more advanced packages or to charge as an add-on. There has been a push for the ‘democratisation’ of AI to make it readily available for everyone, instead of only larger enterprises with bigger budgets.
The Market Is Moving
In our sector technology never stands still. The latest Webex developments for example include Webex Assistant which provides transcripts, translations, and message summaries. Powerful software can analyse writing styles and re-write messages before sending them.
AI Assistant in Webex meetings helps people catch up with quick summaries for late arrivals. Smart Chapters and a ‘Be-Right-Back’ option for those who need to step away from a meeting, such as if the doorbell rings, ensure smooth running collaboration for all participants – enabling fewer distractions and no missed information.
Webex also offers strong analytics about how hybrid teams are interacting, even down to what devices they are using and their file-sharing information. Vidcast is another valuable enhancement that enables the creation of quick demo videos or how-to guides for example, in minutes. This eliminates the need for unnecessary calling and enhances overall productivity.
It’s clear the market is moving at pace, and we’ve got to keep innovating, looking ahead, and navigating a clear path forward. There’s no crystal ball but we want to take more customers on the journey. We’ve got the solutions for today and the future. There’s a lot of complexity around going into certain verticals and international markets. We bring that all together and firmly believe we are the techno of the future.
To find out more about Evolve IP’s growing AI proposition with Webex visit here
