The Future of AI in Everyday Life

According to the International Trade Administration, the UK AI market is worth more than £16.8 billion and is expected to grow to £801.6 billion by 2035. That means that the market worth will grow by over 4000% in the next roughly 10 years. 

So let’s get talking about AI. How has AI impacted day-to-day life, in your home, in business, the workplace, and the world? And what can we expect to see from AI over the next few years?

AI in Everyday Life

Ai shows up in everyday life more than you might think, often seamlessly integrated into the technologies we use regularly.

Smartphones

Every time you pick up your phone, facial recognition is used in most smartphones to unlock your device or authorise payments - many apps that include a login feature will be enabled with face recognition to provide a quick and easy access experience to your regular or favourite apps. AI-powered voice assistants like Siri, Google Assistant, and Alexa can answer questions, set reminders, control smart devices, and more, all through natural language processing.

Apps like Spotify, YouTube, and Netflix use AI algorithms to recommend music, videos and shows based on your behaviour and preferences. If you’re an avid documentary viewer, these types of shows will be recommended and served to you in the first instance.

Smart Home Devices

According to Ampere Analysis, 52% of UK households with access to the internet have a voice assistant like Google Home or Amazon’s Alexa in their house. These devices use natural language processing (NLP) and allow users to perform tasks hands-free and gain access to information effortlessly. Every time someone uses one of these voice assistants the machine is learning more and more about the way people interact and what information people look for when asking a query, meaning that they are ever-evolving to understand human needs and behaviour. 

Navigation and Travel

As a key role in GPS and ride-sharing services by enhancing navigation and travel efficiency, apps like Google Maps and Waze, AI predicts traffic conditions, suggests alternate routes, and provides accurate estimated travel times using real-time data. Similarly, ride-sharing apps such as Uber and Lyft use AI to match drivers with riders, calculate fares, and optimise routes based on current traffic patterns, improving both user convenience and overall service efficiency.

Healthcare

Widely used in healthcare to improve personal wellness and medical accessibility, in fitness apps like Apple Health and Fitbit, AI analyses data from daily activities, sleep patterns, and heart rate to provide personalised health insights. Additionally, telemedicine, it aids in diagnosing medical conditions by examining symptoms and medical history, making healthcare services more accessible and efficient for users.

AI in Business

In the current tech climate, businesses can leverage the use of AI to their advantage by enhancing customer experiences, improving efficiency, personalisation and improving overall customer satisfaction.

Without integrating AI into your business strategies, you risk falling behind and giving competitors the opportunity to capture your target audience. No matter what industry you're in, there are numerous AI applications that can drive innovative strategies forward.

Chatbots

Every sector has its way of using AI to improve efficiencies and streamline processes, whether you work in finance or retail. The use of chatbots and virtual assistants has become more and more frequent with a recent study by Stanford and MIT finding that generative AI boosted customer support worker productivity by 14%. 

Accessibility is another significant advantage. AI chatbots support voice recognition and text-to-speech, making them accessible to users with disabilities. Their multilingual capabilities also allow businesses to connect with a global audience effortlessly.

Augmented Reality

Augmented Reality (AR) is a technology that overlays digital content such as images, videos, or information, onto the real world, enhancing the user's perception of their physical surroundings. Unlike Virtual Reality (VR), which immerses users in a completely virtual environment, AR blends virtual elements with the actual world in real-time.

Retailers, especially in fashion and home decor, are leveraging AI and AR to allow customers to virtually try on clothes or visualise furniture in their homes before purchasing such as a sofa or even ‘trying on’ sunglasses online. This enhances the shopping experience by reducing uncertainty and improving satisfaction.

Generative AI

There's a huge amount of money and effort being spent on taking generative AI. Currently, it’s something that we interface with directly in the web interfaces of ChatGPT, Claude etc but the investment of money and effort is going to take that to something that is just part of the wider systems we’re already using. For example, Apple Intelligence will be launching soon, using generative AI to enhance existing features and connect things rather than being standalone. 

Customer Experience

AI chatbots enhance efficiency by handling routine inquiries, freeing human agents to focus on complex issues. They also scale easily, ensuring consistent customer service as businesses grow. By offering personalised experiences and real-time data analytics, AI-powered chatbots help businesses improve customer satisfaction and stay competitive.

For the customer experience itself, a study by MIT Technology Review found that nearly 90% of survey respondents report that they have recorded measurable improvements in the speed of complaint resolution, and over 80% have noted enhanced call volume processing using AI meaning that people are being spoken to sooner and having their complaints dealt with quicker.

Data Analysis

AI is also helping companies grow by transforming the way that companies can analyse and leverage data. By using predictive analytics algorithms, businesses can make data-driven decisions quicker and with more accuracy, this means that companies can put their customers first and make decisions based on human behaviour. Overall, this leads to improved operational efficiency, profitability and better customer engagement. 

AI in the Workplace

The impact of AI on the workforce is profound, with both opportunities and challenges. While AI technologies are expected to create over 2.3 million new jobs globally by 2025, according to research by Gartner, they also pose concerns about job displacement and skill mismatches. However, many experts believe that AI will augment human capabilities rather than replace them, leading to the emergence of new roles and job categories. Upskilling and reskilling programmes will be essential to prepare the workforce for the AI-driven economy of the future.

Talent and Training

AI technologies are also transforming talent acquisition and management processes. AI-powered recruitment platforms can sift through resumes, identify qualified candidates, and even conduct initial interviews, helping HR teams save time and resources. Furthermore, AI-driven analytics tools can analyse employee performance data, identify skill gaps, and recommend personalised learning and development opportunities, enabling organisations to nurture and retain top talent. 

AI and Sustainability

21% of UK residents are willing to invest more in products that favour sustainability, showing that sustainability is becoming increasingly important to more people. AI technologies are being harnessed more to address some of the most pressing environmental challenges of our time such as climate change and waste reduction. 

AI is playing an important role in mitigating climate change by optimising energy consumption and reducing greenhouse gas emissions. Smart grids use AI to balance energy supply and demand more efficiently, integrating renewable energy sources like wind and solar power. AI models can also predict extreme weather, allowing better preparation and response to natural disasters. 

AI is also contributing to waste reduction efforts. Advanced sorting technologies use AI to improve recycling processes, ensuring that more materials are correctly identified and recycled. AI also optimises supply chains to minimise waste production and enhance the lifecycle management of products. 

According to a September 2023 IT Sustainability study conducted by IBM, 37% of business leaders report that their firms are already actively using AI for sustainability, and an additional 40% plan to use it soon.

What does the future hold for AI?

AI is becoming more and more involved in our day-to-day lives and the reality is that this is only going to continue, so it’s important to embrace AI for what it is and how it can be utilised predominantly to increase efficiency. 

One of the key predictions for the future is enhanced human-AI collaboration. AI will increasingly work alongside humans, augmenting our capabilities rather than replacing them. This is going to lead to the creation of new job roles and opportunities, particularly in fields requiring complex problem-solving and creative thinking. A study by McKinsey Global Institute estimates that as early as 2030, AI could contribute to the creation of 20 million to 50 million new jobs globally.

Another exciting prediction is the sustainable development that will come from AI. AI is going to play a really important role in advancing sustainable development goals. Innovations in AI will help tackle climate change, optimise resource management, and promote environmentally friendly practices. All together, contribute to a more sustainable future. According to PwC UK, using AI for environmental applications could contribute $5.2 trillion to the global economy in 2030, and reduce greenhouse gas emissions by 4%.

AI is rapidly becoming an integral part of daily life, from transforming industries to enhancing personal efficiencies and addressing global challenges like climate change. As AI continues to evolve, its role in augmenting human capabilities, creating new jobs, and promoting sustainability will be crucial. Embracing AI's potential while addressing the challenges it poses, such as job displacement and ethical concerns, will be essential in harnessing its full benefits for a better future.

Key Takeaways:

1. Market Growth: The UK AI market, currently valued at £16.8 billion, is projected to grow exponentially to £801.6 billion by 2035, highlighting AI's massive economic impact and potential.

2. AI in Everyday Life: The widespread adoption of AI-powered voice assistants like Google Home and Amazon Alexa in 52% of UK households demonstrates how AI is seamlessly integrating into everyday life. These devices continually learn and evolve, improving their understanding of human needs and behaviours.

3. AI in Business: AI is revolutionising various sectors, improving efficiencies, and enhancing customer experiences. For example, generative AI has been shown to boost productivity in customer support by 14%, and AI-driven data analytics allows businesses to make faster, more accurate, customer-centric decisions.

4. AI in the Workplace: AI is both creating and transforming jobs, with the potential to add 2.3 million new jobs globally by 2025. While there are concerns about job displacement, AI is expected to augment human capabilities, necessitating upskilling and reskilling to prepare the workforce for future demands.

5. AI and Sustainability: AI is being leveraged to address significant environmental challenges, such as climate change and waste reduction. It optimises energy consumption, predicts extreme weather, and improves recycling processes, with a growing number of businesses actively using or planning to use AI for sustainability initiatives.

6. Future Predictions: AI will continue to grow in importance, particularly in enhancing human-AI collaboration and driving sustainable development. The collaboration between AI and humans is expected to create new job opportunities, especially in complex problem-solving and creative fields, while AI's role in sustainability could contribute significantly to the global economy and environmental preservation.

AI Experts

As we've explored, AI and technology are transforming every aspect of business, from personalised customer interactions to streamlined operations and data-driven decision-making. No matter the industry, leveraging these tools is essential to staying competitive and meeting modern customer expectations. This is where LAB comes in. We specialise in helping businesses implement AI-driven strategies tailored to their unique needs, ensuring seamless integration of cutting-edge technology to deliver exceptional customer experiences, we're here to guide you through every step of the journey towards innovation and connected experiences.

Interested in finding out how you integrate AI into your business? Get in touch with our team of experts today.