Chatbot Market revenue to hit USD 84.78 Billion by 2036, says Research Nester

Chatbot Market revenue to hit USD 84.78 Billion by 2036, says Research Nester

Research Nester Leading chatbots market players include Creative Virtual, eGain Corporation, IBM Corporation, Botsify, Aivo Conversational AI, Acuvate, Chatfuel, Google Inc., Inbenta Holdings Inc., and Bitonic Technology Labs Inc.

New York, March 18, 2024 (GLOBE NEWSWIRE) — The global chatbot market size is predicted to expand at ~22.87% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 84.78 billion by the end of 2036, up from a revenue of ~USD 5.87 billion in the year 2023.Chatbots are growing in popularity due to increased demand for automation. Companies are looking to reduce their operational […]

Navigating the workforce and skills transformation in the age of AI

Navigating the workforce and skills transformation in the age of AI

Implementing AI and technology is more about managing human emotions than technical deployment. The genie has escaped the bottle and AI is everywhere now, and HR leaders must understand its implications and steer organisations toward a future in which humans and machines can coexist. While integrating these technologies offers a promising outlook to augment human capabilities and drive innovation, it is equally true that this journey is full of challenges and unknowns. Think of it as navigating through a thick fog—there is a lot we cannot see yet, and we are learning as we go. The path is unclear, […]

Manufacturing Automation ROI is Tragically Undervalued by Small and Medium Manufacturing Companies

Manufacturing Automation ROI is Tragically Undervalued by Small and Medium Manufacturing Companies

Summary

Manufacturing Automation ROI is Tragically Undervalued by Small and Medium Manufacturing Companies If you ask leadership at the average American manufacturing company, “How are automation investment decisions made?” You will inevitably hear “We calculate the ROI, and if there is a return in under X months, we make the investment." This is not bad business thinking. However, most manufactures are incorrectly calculating their ROI. This is because they are only considering the most basic values of automation investment.

Astute executives quickly weigh an investment decision with a narrative that parallels the Story of John Henry, the Steal Driving Man. […]

If creativity-as-a-service doesn’t bother you, enjoy your future endeavours

If creativity-as-a-service doesn’t bother you, enjoy your future endeavours

Image: Stockfresh IT leaders afraid of being automated out a job should embrace their humanity, says Billy MacInnes

14 March 2024

There was an interesting story on this website recently concerning a survey of IT leaders in Ireland by Auxilion which found that 62% believe artificial intelligence (AI) will make their company’s services redundant in three to five years.According to the research, carried out by Censuswide and involving more than 100 IT leaders and decision-makers in large enterprises across Ireland, nearly two in five (38%) would leave their job if their organisation did not invest emerging technologies like AI.I must […]

Nanonets Raises $29 Million to Automate ‘Mundane Office Work’

Nanonets Raises $29 Million to Automate ‘Mundane Office Work’

accounts payable worker AI-based workflow automation platform Nanonets has raised $29 million in new funding.

The company’s Series B round, announced Tuesday (March 12), comes as roughly a third of Fortune 500 countries have used Nanonet’s artificial intelligence (AI)-based workflow automation for finance, accounting, operations and other uses.

“The internet was going to kill paper but businesses today are producing more documents than ever, just in new forms,” such as emails, PDF contracts and white papers, Sarthak Jain , the company’s co-founder and CEO, said in a news release.“There are millions of highly skilled professionals stuck looking for needles in haystacks […]

India is on a path of digitalisation that is different from China and US: Soumitra Dutta, Dean of Said Business School

India is on a path of digitalisation that is different from China and US: Soumitra Dutta, Dean of Said Business School

It’s time India starts focusing on developing a truly world-class AI infrastructure in the country to reap its dividends, says the Dean of Oxford University’s Said Business School.

Soumitra Dutta says there is an urgent need for India to increase its spend on R&D and other academic research. While India may have made a mark in the software services exports, it has lagged a bit in terms of adoption of artificial intelligence (AI), says Soumitra Dutta , Dean of Oxford University ‘s Said Business School . Dutta, a professor of Indian origin, says India has to now focus on […]

AI will hit jobs in Indian IT sector but experts say companies can also be ethical about job cuts

AI will hit jobs in Indian IT sector but experts say companies can also be ethical about job cuts

Image created by Copilot AI In Short

AI tools may make coding skills redundant, hints Nvidia CEO Jensen Huang.

Job cuts in tech sector hint at AI tools reducing employee requirement. AI and cost-cutting led to 136% surge in tech layoffs in 2024. With his recent comments about programming and coding, Nvidia CEO Jensen Huang sent ripples through the IT industry, including in India . Huang is of the belief that AI tools like ChatGPT, Gemini and Copilot are going to be so good at writing code that it will make this particular skill of knowing a programming language […]

The Impact of Automation on Jobs

The Impact of Automation on Jobs

Today in 1811, the first Luddite attack in which knitting frames were actually smashed occurred in the Nottinghamshire village of Arnold. Kevin Binfield in Writings of the Luddites : “The grievances consisted, first, of the use of wide stocking frames to produce large amounts of cheap, shoddy stocking material that was cut and sewn rather than completely fashioned and, second, of the employment of ‘colts,’ workers who had not completed the seven-year apprenticeship required by law.”

Back in 1589, William Lee, an English clergyman, invented the first stocking frame knitting machine, which, after many improvements by other inventors, drove the […]

How artificial intelligence and robotics impacts labour force participatin and employemnt?

How artificial intelligence and robotics impacts labour force participatin and employemnt?

Artificial intelligence (AI) and robotics have a significant impact on labor force participation and employment. While AI has the potential to automate tasks and improve efficiency, it can also lead to job losses. However, it is important to note that AI can also create new employment opportunities in technology and AI-related sectors. Studies have shown that worker adaptation to new technologies is necessary to maintain employability and professional relevance . Companies understand the importance of increasing business efficiency and employee productivity, and automation is being implemented in various sectors to minimize costs and improve reliability . Rapid advances in […]

Tech Layoffs Surge in 2024 Despite Economic Boom: AI and Restructuring to Blame

Tech Layoffs Surge in 2024 Despite Economic Boom: AI and Restructuring to Blame

Tech Layoffs Surge in 2024 Despite Economic Boom: AI and Restructuring to Blame Despite a robust U.S. economy and significant gains in sectors like artificial intelligence , the tech industry is witnessing an unprecedented wave of layoffs in 2024, affecting thousands of workers and raising concerns about the future of employment in the sector. The paradox of increasing job cuts amidst economic growth is attributed to several factors, including the rapid advancement of AI, restructuring within companies, and a changing landscape of investor expectations. Root Causes of the Tech Sector’s Turmoil

At the heart of the recent layoffs is […]