ChatGPT's impact on the development of different industries has become a before and after of the application and investment in Artificial Intelligence (AI) in different industries. Currently, this disruptive tool allows sectors such as marketing to optimize time and processes in creating content in different formats.
Investing in artificial intelligence is transforming business models in traditional industries. Its application not only encourages their development but also results in a highly attractive alternative for investors seeking to drive technological progress in traditional markets.
Currently, the traditional industry is investing in artificial intelligence and other technologies in order to enhance and optimize it However, last year’s investment was 18 times higher than it was in 2013, a figure that shows the exponential growth of this technology over the past decade. s different processes. In this way, they position themselves to meet today´s demand for products and services.In this way, they position themselves to meet today´s demand for products and services.
Until now, this type of technology could be seen in markets like telecommunications and manufacturing where the 4.0 industry adoption is advanced. For example, the use of robots for automated tasks, or chatbots and virtual assistants, the latter focused on customer experience.
“Como los coches se expandieron nuestras piernas como la televisión expandió nuestra vista, así la Inteligencia Artificial expande nuestra mente”
-Néstor Márquez, director del Laboratorio del Futuro de los Negocios en Centro de Evolución Digital
However, global private investment in AI was $91.9 million in 2022, a 26.7% decrease from 2021, according to Standford's 2023 AI Index Report. However, last year’s investment was 18 times higher than it was in 2013, a figure that shows the exponential growth of this technology over the past decade..
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Artificial intelligence applications in traditional industry
The development of new technologies and their penetration into different industries is opening the way for new business models. The trend of investing in artificial intelligence in industries aims to facilitate and improve daily activities. In the future, this technology is expected to play a more relevant role in various industries.
Los avances de la inteligencia artificial tienen la limitación de depender de los humanos . El desarrollo de estas tecnologías son una colaboración de cómo interactuar con el mundo y se transmite a una máquina. Entonces, la inteligencia artificial va a continuar su desarrollo mientras los líderes de la industria lo permitan, explica Néstor Márquez
These are the traditional industries' currently innovating through artificial intelligence application:
Health
Medicine remains an industry with the greatest potential for innovation. The implementation of artificial intelligence and other technologies such as big data will improve diagnostic, research and drug techniques.
Financial
Another sector that is constantly evolving with technology. The AI in the financial system can anticipate risks in transactions such as bring more secure
Agriculture
AI in agriculture has a great impact in terms of data collection, monitoring and surveillance, pest control, soil analysis, intelligent irrigation systems, or in the logistics process involved in moving crops.
Manufacturing
The development of the Fourth Industrial Revolution drives the manufacturing industry towards the use and application of different technologies that allow its transformation to the new technological era. The use of AI within this sector allows it to make decisions based on large databases, as well as better resource management and time optimization.
Logistics
The traditional logistics industry innovates through the use of different technologies such as AI. This allows optimizing and automating different processes in the supply chain, as well as classifying information, detecting patterns or predicting movements.
Marketing Services
The arrival of ChatGPT is a milestone for the marketing industry, as it is a tool that optimizes time for creative areas. It is also a tool that facilitates market research. In addition, AI is an alternative for communication channels with customers. Through it, marketing companies will be able to detect behavioral patterns and predict consumer decisions.
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The investors sights
What is artificial intelligence? First applications of artificial intelligence have been seen in voice assistants. The firm Deloitte explains that the incursion of virtual assistants has evolved customer service and strengthened the brand-consumer relationship.
This utility is just one example of how technology companies offer solutions to everyday actions and, in turn, gain sympathy among investors. By emerging as an alternative with great potential and long-term profitability, artificial intelligence is positioning itself as a favorite for private equity funds. During 2022, companies related to AI will reach an investment of 67 billion dollars, according to data from Pitchbook.
It is also important to keep an eye on companies that offer solutions to issues such as population aging, climate change, or other ESG factors, as these are the “favorites” and play a key role in investment decisions
The use of artificial intelligence in traditional sectors is expanding its possibilities for innovation. Although its application seemed distant, today it is a reality that optimizes processes and services and its impact is already being felt in different industries.
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At WORTEV CAPITAL we invest in technology sectors and traditional industry. Our investment model includes a nuclear accelerator that is integrated into the operation of the companies. In this way, entrepreneurs get advice and mentoring from experts in different areas and their success is assured.
Our main objective is to invest in early stage companies, with the purpose of generating an ecosystem of entrepreneurs and investors that positively impact the country's economy.
