The 4 Awesome Ways AI Can Improve the World of Business
Date : Mar 12, 2020
Author : DR A Zayed
We are living in an age of constant transformation. Companies, businesses, and new brands are slowly establishing their foothold in the industry and have their own market share. Our economy is no longer a monopoly. Instead, for anyone with a solid strategy and innovative merchandise, it’s possible to make a name for themselves.
Technological advances have made that feasible. AI or artificial intelligence is part of that technology that is here to improve the industry. Many wonder how Artificial intelligence is improving the world of business. What can it do for companies, and why does it matter.
Here we will focus on everything you need to know about AI and how much of a real impact it can have in this competitive market.
The General Perception and Uses of AI
To answer the question of how Artificial intelligence is improving the world of business, we first need to talk about how people perceive it and what companies use it for. This is an important concept since it shows whether or not people are willing to accept it and integrate it into their business.
So far, there have been plenty of people who’ve associated AI with a dystopian future. But, now that AI is part of households, especially with Alexa, people are now more accepting and welcoming to AI tech. Businesses integrate it into their companies.
The most prevalent uses for this tech in the industry are:
– Fraud recognition
– Creating personalized adverts and messages
– Chatbots for customer support
– Predicting consumer behavior
– Updating, transferring and referencing important data
Despite the “not so welcome” first appearance, AI is supposed to become a staple tech in various industries. For the software market, the use of AI software is predicted to grow by a staggering 126% by 2025. These statistics show just how widely used AI is expected to be in the near future.
How Is AI Transforming Businesses?
AI currently has many applications, but it also has a lot more potential. AI is one of those techs you don’t know you really need until you try them. Here is how Artificial intelligence is improving the world of business.
This tech can:
1 – Take the burden of managing mundane clerical tasks
2 – Boost productivity in the workplace
3 – Provide reliable forecasting
4 – Monitor the wellbeing of staff to boost morale
While companies have adequate software for managing resources and tasks, they don’t have a way to free staff from unnecessary clerical assignments that affect their workflow. AI will manage these tasks for them and allow employees to focus on more productive projects.
Another thing AI can do better is forecasting. It is statistically proven that AIs can make the best forecast for the current market and help businesses focus on the tasks in high demand. This can allow companies to make the appropriate strategies at the right time and always have a chance at success.
With this type of tech, it will also be easier to monitor the wellbeing of staff. With AIs, companies can monitor the employee’s morale and always try to take measures to keep their staff happy and engaged. This can, in turn, increase their productiveness and performance at work, which will bring in more revenue.
So, now you know the four ways AI can boost businesses in this competitive market. As you can see, this type of tech has the potential to bring in plenty of profit for every kind of industry. It’s no wonder why companies are integrating AIs as part of their working environment.
Have you considered AI for your business? Let us know in the comments.