AI adoption by Businesses amid Covid 19

Last year we were all struck by the Covid 19 pandemic. The world seemed to come to a halt. It affected the individuals as well as the organizations but AI adoption by Businesses amid Covid 19, helped businesses to cope with the economic downfall during the time of crisis.

The economy of many countries saw a huge downfall. No one was ready for such a humongous catastrophe. But as Winston Churchill quoted “ never let a good crisis go a waste” thus this crisis presented us with a miraculous up-and-coming technology “ The Artificial Intelligence” or AI adoption by businesses amid Covid 19.

This technology was not particularly an invention of the pandemic , but it’s rapid growth was seen during this time to create a new normal for the people. These AI-enabled platforms and tools offer a live-work environment wherein one can see the results that one desires almost instantaneously.

The technology works mostly by using data and recording its past experiences and the outcomes of the data to predict what might happen in a given scenario. Apart from prediction AI has other applications as well like speech and image recognition, automating daily chores, etc.

According to a recent study conducted by PwC India in the months of August and September, the increase in the use of artificial intelligence(AI) during the COVID-19 pandemic was the highest in India.

 In this study, they also found out that 94 percent of the companies across the globe said that they have adopted this technology or are planning to implement it, as it has become a necessity. The technology was implemented by 70 percent of the Indian organizations for various purposes like the development of vaccines, making sure that the transmission of the deadly virus is kept to a minimum, etc. This use of technology was the highest when compared to the major economies of the world like The United States, Japan, UK, etc.

Though this does not mean that India is pioneering the field of Artificial Intelligence it just means that this technology has seen unprecedented growth in the country during the pandemic which has helped to save millions of lives as compared to the other nations who were using this technology before the pandemic also. The rapid growth and usage of this technology also suggest that it has a bright future in the country.

According to a survey conducted by McKinsey states, that the use of AI has increased tremendously in the field of healthcare and Pharma by seventy-five percent, while the other areas such as travel and hospitality, telecom, media, IT firms, financial services, etc have also seen a major increase in the use of this technology.

AI has become a key enabler for organizations and businesses worldwide to overcome this COVID 19 crisis, an example of which is a company called Biofourmis. In just a short span of two weeks, this company adopted AI technology and created a biosensor. This biosensor is embedded in the arms of the patient which helps the doctors to diagnose the patients on a contactless basis. This helped reduce the infection rate in doctors as well as in the medical support personnel.

To get the best out of AI, businesses need to start viewing it as a necessity rather than a luxury and weave it into the organizational fabric to benefit from this technology.

Also read, Coffee with a Shot of technology

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