Artificial Intelligence (AI) has long been outside the realm of science fiction. AI isn’t just about military technology, industrial robots, or self-driving cars either. Whether you know it or not, AI is changing the way we do business. Tons of artificial intelligence business applications are used in all industries, from law and finance, to marketing and healthcare.
More and more startups are using AI to save time and increase efficiency across their firms. Because regular people, (you know, the mortal kind), need days to accomplish what AI technology can do in just a few seconds. What company wouldn’t want to reduce overheads and focus their employees’ efforts on more important challenging and creative tasks?
Technology can now provide virtual assistance, generate insights and analyze unstructured data – allowing entrepreneurs to focus on growing their businesses. With so many advantages to AI, specialists predict that around 62% of organizations will be using artificial intelligence business applications in some way by 2018.
Artificial Intelligence Makes Businesses More Competitive
One of the most common uses of AI today is predictive analytics, which can create personalized services for clients based on their past purchasing behavior. By breaking down huge amounts of data, companies can now predict what customers will want and need in the future. They can even gauge how happy a client may be using a specific product.
Once an expensive technology acquired by large businesses only, predictive analytics is becoming more accessible to companies of all sizes. Tarun Gangwani, founder of AI-based solutions startup, Grok, explains how the industry has been evolving over the last few years and how he believes it will grow in the future.
“AI-based tools that think about the ecosystem they are utilized in will see the most adoption, especially if they can quickly collect and analyze data from platforms companies use today, like Salesforce or Amazon Web Services.”
If you can anticipate customer behavior, you’ll know how to develop your products and services to stay competitive. This will give your business the edge over companies who are still trying to understand market changes. By making accurate predictions, your company can become more efficient and improve its market performance.
How Businesses Benefit from AI Today
Artificial intelligence business applications are not limited to analytics. You can use AI-based apps to help with a wide range of tasks. Controlling the flow of money and goods, scheduling your daily activities, analyzing customer behavior and adjusting your marketing campaigns. Business owners can reduce their margin for error and abolish repetitive manual tasks.
AI can make your workload easier and help in all functions of a business, from human resources, to customer relationship management, accounting to sales. Platforms like Salesforce and QuickBooks can improve your efficiency considerably, while cutting down long hours spent in front of the computer.
You can use artificial intelligence business applications to organize your meetings according to your schedule, and reduce time spent writing and rewriting emails to set and confirm appointments. You can even use AI business applications to provide customer support in multiple languages. This increases customer satisfaction, as clients receive answers in real time.
This is just a small taste of what artificial intelligence can do for businesses today. There’s constant development on the market and you can now find an app for pretty much anything. All you have to do is think about the areas of your business that could use improvement, and let science take over the rest.
How AI Will Change Business in the Future
Billions of dollars will be invested in artificial intelligence over the next few years, so there’s no doubt that certain traditional roles in the workplace will change. But it’s more likely that we’ll begin to adapt our skill sets to work with the new technology, rather than be replaced by it. New jobs will begin to emerge, as companies scramble to understand the available data and learn how to use it efficiently.
AI will also change the face of cyber security. According to Gangwani, “AI will move the needle on challenges we face, but human intuition and empathy will always be recommended with complex cases related to human safety and data privacy.” Handling all this data will require permanent improvement of existing technologies to guarantee a company’s security.
What no one is in any doubt about is that this is just the tip of the iceberg. The best of artificial intelligence is yet to come, with AI bringing us closer to solving the world’s toughest problems. Although fully implementing this new technology will take time and a collective willingness to accept and adapt to the challenges it brings.