We all know how the Internet of Things has made it possible to turn everyday devices into sources of raw data for analysis to be able to generate business insight. It has also been observed that Artificial Intelligence (AI) is making analytics more effective and efficient at offices also.
Enterprises expect much more data to be made in the years to come as compared to data generated today.
It’s believed that AI is now starting to enter workplaces and corporate associations, and this change has made leaders rethink their business processes and functions. These days, startups are embracing AI technology to reduce manpower, enhance work efficiency and save time. AI can generate insights, provide virtual and remote support, and analyze unstructured data generated by everyday devices. Experts predict that more than 62 per cent enterprises would start implementing AI software in some way at the end of 2018 and a major reason behind this are a good deal of advantages AI has provided to the enterprises.
According to a poll by Demand base, about 80 per cent of decision makers predict that AI will revolutionize marketing by 2020.
AI along with neural networks decode different data in no time, and make sure a perfect solution is placed at the decision maker’s fingertips. The information being generated is always being upgraded, which also means the machine learning models too will be updated at regular intervals. The enterprises would be able to get up-to-date data – breakthrough insights — that can be helpful for rapidly changing business environments. Here are just three main ways in which AI benefits workplaces:
- Faster decision-making with more assurance: What if something goes wrong with the manufacturing plant at your business, what would you fix ? I am sure the majority of the employees working on that plant would be clueless.
- Protecting sensitive information: AI allows elimination of human error which in turn helps improve output and strengthen cyber security.
A noticeable difference has been seen in the roles of employees, after deployment of AI. More attention is given on handling and on implementing strategic initiatives and at exactly the same time analytical tools automate and scale information to facilitate better conclusion.
• Creating new technologies related jobs: A report by Truly predicts that there’s an increase in demand for workers with AI skills during the last couple of years. When there’s lack of job seekers who can fulfill that need, it makes the abilities more valuable for those who would possess them.
• Using machine learning to reduce active work: By allowing automation to complete their mission critical tasks, workers can free up their time for other essential tasks. According to a Digital Ocean report, 26 percent of programmers are using AI-based tools in their work processes, and about 81 per cent are keen in becoming educated about the automated tools.
• Automation helps prevent workplace injuries: A study by Injury Claim Coach predicts a whole lot of damages can be reduced by implementing automation in workplaces. About 14 per cent automation could be saving lives as high as approximately 3,500 each year by end of 2030. Hence, rather than thinking how AI is taking jobs away, it’s time to think how many toxic jobs humans will not need to do in the days to come.
These were some ways in which you can step up your businesses using AI. What are your thoughts about AI? Have you implemented it in your business, already?