Despite the overall fear people had (and unfortunately still have) towards artificial intelligence, it is evident that a lot of businesses have understood the magnificent potentials it has.
AI-powered tools are being implemented in many different branches of business. From marketing, e-commerce, all the way to security and medicine, they are providing valuable solutions for organizations from all around the world.
Implementing AI into your company can not only boost efficiency and productivity, but it can also help you to better understand the processes you’re encountering and provide your clients with desired results in a quick manner.
So, let’s remove the stigma of dangerousness you may still have and dive into six advantages of AI for business, in order to help you understand the limitless benefits it can bring to you and your company.
1. Less time consumption
Machines aren’t humans – they don’t need food or sleep, they aren’t suffering from boredom and low attention span, and can be available 24/7. That means they can take over mundane tasks, process data at a speed no human can perform, but at the same time constantly learn and adapt themselves in order to secure the best performance.
For example, modern AI chatbots used by product sellers are performing tasks of many support agents at the same time. By using if-then formulas, they are providing customers with satisfying results in the shortest time span.
These technology-based systems are constantly collecting information from different sources, properly sorting and analyzing them. By using AI for business where a lot of applications from potential workers are being constantly received, hiring and decision-making processes can be done much faster. And not only that, they can automate repetitive work one person would need much more time to perform.
2. Operation management enhancement
By designing an IIoT application called Wizata Platform, we’ve found a way to help our users improve their overall operation management. Whether you’re working with metals and mining, pulp and paper, chemical and polymers, or food and beverages, Wizata guarantees the best custom software solutions for you.
While at the same time reducing CO2 emissions, costs of manufacturing, and saving energy, this technology can identify the strengths and weaknesses of your manufacturing process. As an end result, productivity will be at its peak, and the quality of your products will become better than ever.
3. Transforming information into valuable knowledge
Even though “free”, data is the most valuable resource in today’s marketing. It is provided everywhere, and by processing numerous data points in a blink of an eye, artificial intelligence can learn more about your customer than any other digital marketer.
You’ve surely encountered good, personal recommendations from your streaming services, shopping retailers, or even your preferred method of payment when completing your shopping spree. That’s because new technologies use data-mining procedures and therefore are learning customers’ behavior online.
This leads to creating great insights and predictive analytics over time. Analyzing historical data, predictions can also be created in stock fluctuations or even healthcare, e.g. signs of health risks such as cancer or hypoglycemic reactions, and many others.
Through machine learning, the more data an AI system receives, the more efficient it becomes and creates better services tailored to consumers’ needs.
4. Improved security mechanisms
As already mentioned, data is the most precious tool of the modern world, and it is extremely important to keep it safe. From suspicious activities online to fighting malware and spam – AI systems are modern-day superheroes ready to defend you by all means possible.
The main goal of automated cybersecurity systems is to create processes that can predict malicious attacks, recognize phishing emails and respond to them in the best manner. Using patterns of recognition, these systems can even prevent fraud and criminal activities online.
And safety isn’t important just online. Airplane industries have even made predictive systems that can foresee wear and tear of mechanical parts in order to prevent downtimes and provide their users with safe and secure transportation.
5. Money-saving automation
Not only can it save time, AI for business that deals with confidential data and expensive tools can save vast sums of money! By following patterns and using predictive and preventive tools, it can aid you in avoiding unnecessary repairs or unwanted information leaks.
Putting automation in the front center, operational costs can be reduced exponentially and human errors, which can cost more than expected, can be completely eliminated.
With the use of intelligent character recognition, financial industry leaders are able to cut costs and automate low-level tasks usually performed by human workers for an unreasonable amount of hours.
This way, automated systems can recognize handwritten or printed documents, understand them, verify them and extract information from contracts and agreements.
6. Error reduction
Artificial intelligence indeed is prone to errors. But unlike us humans who make mistakes throughout our whole lives, whether biased by our principles or beliefs, AI systems make decisions exclusively based on gathered data. And even if wrong, those mistakes are reflected by the type of data imported inside the system.
This machine bias can vary in the ways of how the data was collected, or the type of data that it has been fed for a certain amount of time. However, these systems are still less prone to bias-based errors since their opinions on data don’t exist.
Machines don’t judge data like humans do, and therefore are automatically more accurate in creating conclusions on the collected information. And the best thing is, if a system makes a mistake - it can always be fixed, something that isn’t characteristic for humans.
As you can see, AI for business purposes is already taking its important position in many industries. It’s there to stay, and most importantly – it’s there to help us.
It is constantly changing ways of work – taking unnecessary responsibilities and cutting time on horrendous tasks for employees, lowering costs produced by errors and unpredicted outcomes, and creating life-changing solutions for patients in need. And luckily, much more is yet to come!
Many people and businesses have already incorporated it into their processes, and many new solutions are yet to be discovered.
In case you found a way to implement some mentioned models into your organization, make sure to analyze the processes and opportunities these systems can provide you with firstly. In that way, you can implement an amazing AI strategy that can make significant changes in your overall work.
Even though these technologies are still relatively new, implementing AI for business needs is a great way to think ahead. That kind of technology-based solution will make you stand out on the market, create curiosity and sincere trust in your brand.