Predictive AI, despite being less hyped, delivers more value than Generative AI. It excels in three areas: forecasting future trends, enhancing decision-making, and mitigating risks. This shift could lead to increased investment in predictive AI, impacting the AI industry’s direction and potentially driving a new wave of AI-powered solutions. Stakeholders may need to rethink their AI strategies, while society could benefit from more accurate predictions in various sectors.
Some examples of predictive AI in use today include:
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Predictive AI can be used to analyze customer behavior on websites to predict their current and future actions.
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Companies like Sprint use AI to reduce customer churn rates, while Harley Davidson targets potential customers using AI-powered strategies.
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Volvo utilizes AI programs to detect faulty parts, enhancing quality control processes.
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Real-world applications like virtual assistants such as Google, Alexa, and Siri demonstrate the practical use of predictive analytics in everyday life.
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Predictive analytics is applied in various sectors like retail, healthcare, Internet of Things, sports, weather forecasting, insurance, financial modeling, and social media analysis.
AI or GenAI, or why not both?
— Boston Consulting Group (@BCG) February 28, 2024
GenAI is a white-hot topic for business leaders and consumers, but the powerful combination of predictive AI and generative AI is the key to unlocking real value.
We asked six BCG experts to weigh in on how telcos can leverage these technologies… pic.twitter.com/1HHfg8CUnh
