Author(s): Abha Wankhede K, Ralston Rajvaidya, K and Sachin Bagi K
Artificial Intelligence (AI) is a domain which focuses on creation of intelligent machines that will process the work superfast like machines by will, react and understand as humans. It is a flourishing technology with applications in every industry with a growth rate of 45% CAGR within a period of 2018-2022. This study is conducted to understand the applications of AI in different industries like automotive, health care, insurance, education, manufacturing and retail and to explore and understand the millennial current outlook towards AI and their future expectations from this technology in various areas of life and business. Extensive literature review was done to know about the current applications of AI in various industries and Qualitative Analysis method was adopted by conducting in-depth interviews of millennial to capture the outlook and future expectations of AI technology. Data was analyzed using DICTION software for interpreting attrition pattern. Content analysis was done using vocabularies to obtain a statistical index of qualitative data. These statistical indices were used for further analysis. Findings suggested that all believe that AI will be the disrupting technology of the near future and they are keen and looking forward for it in all domains of life. The study unearths the latent need of product/service and applications customers are expecting and provide insights to business to develop potential product with regards to AI.