Revolution: great transformation, sensitive change of any kind, whether in a progressive, continuous or sudden way. And this 4th revolution is based on 8 great technologies: blockchain, internet of things, 3D printing, drones, robotics, virtual reality, augmented reality and artificial intelligence, and it certainly is and will continue to promote a great transformation in the business world and throughout our society.

The first to study these major changes arising from technology was the Austrian economist Joseph Schumpeter. He called this phenomenon waves of creative destruction. Schumpeter called it creative destruction because new technologies destroy the competitive advantages of leading companies so far.

The largest conglomerates of coaches had their advantage reduced to dust with the arrival of cars, the holders of the best technologies in photographic film quickly lost their majesty with the arrival of digital photography. Record companies have felt the weight of the advent of Apple and its iPod, and shortly after Spotify's arrival, how content and broadcasting producers realize the speed that the giant Netflix has been gaining fans around the world.

There is no denying that a new revolution has arrived and is right before our eyes. I personally believe that among all the disruptive technologies that we have available, artificial intelligence is the main protagonist of this revolution. In a world where the data is new oil, artificial intelligence is combustion engines. There is no person, company or strategy that will not be impacted by it. For the purposes of magnitude of impact, it is the new electricity.

In this sense, it is very important that leaders in the business world understand minimally what this technology is capable of doing. We may not realize it, but artificial intelligence is already very present in our daily lives. When we unlock the cell phone using facial recognition, for example, we are using artificial intelligence (AI). We are using AI algorithms when we watch a movie that was recommended to us by Netflix or when we call a taxi through Uber. In all these and many other cases, we are using algorithms linked to the various artificial intelligence technologies.

Well, what few people know is that what we call artificial intelligence are many combined and different technologies: machine learning, RPA (robotic process automation), language processing natural (NLP - natural language processing), computer vision, neural networks, the internet of things, chatbots, digital twins (digital twin) [A digital twin is a virtual equivalent of a real physical product or service].

There are many technologies that are linked to the world of AI and that can impact the business world widely. The consultancy PwC has done research that mentions that in the next 10 years the impact that AI will bring to our economy is in the range of 16 trillion pounds. It's a lot of money! This economy is based on four major value streams:

1. Productivity at work:

When we use cases of robotic process automation (RPA), for example, it is possible to automate the entire receipt of invoices without needing people to include this information in a system. AI allows you to understand the information on the invoice using OCR algorithms (optical character recognition, a technology linked to computer vision, AI subfield) and use RPA to automatically register all items in your system. You may also have already spoken to a customer service chatbot. A very famous one is Bradesco's BIA, where you talk to a robot and it will interact with you and give you answers.

2. Quality

On a daily basis, we use Waze to find the fastest routes. Waze uses informed search, machine learning and simulation algorithms to find the best path out of thousands of possible combinations. AI is also used to create better products. I don't know if you've heard of NotCo, a Chilean company that has conquered the world. She has made very delicious products with the flavor of the products we like, but with healthier components. It uses unsupervised machine learning to find out what natural components exist that may have the same feel, taste and texture as traditional components. She developed a kind of “mayonnaise” that is based on a paste of chickpeas and herbs, instead of being based on egg and oil. Pretty cool, isn't it?

3. Customization

Who has not had a fantastic experience with Amazon, where you go to the site to buy a book and she recommends you a lot of fantastic books in the same segment and you feel like buying them all? Netflix itself has a personalization model that understands the quality of internet bandwidth you have, the bandwidth speed, and transmits the streaming in the low resolution version that you can consume, so you don't miss the sequence of episodes while moving subway, for example.

4. Time reduction

There are many companies using algorithms to increase the speed of credit rating. With this, companies are able to grant loans very quickly. Another very interesting example, Grupo Boticário launched the first fragrances developed with the help of an artificial intelligence algorithm, Egeo “On Me” and Egeo “On You”. The reduction of time they had in the development was fantastic, in the order of 3 to 4 times.

So, if you still think that the world of artificial intelligence is not going to change your life, you must have already realized that it is already changing and luckily there are many opportunities and challenges for those who master this technology. These, yes, will be the leaders of this revolution.