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. Additionally, it has been witnessed that Artificial Intelligence (AI) is making analytics more productive and efficient at offices also.
Enterprises expect much more data to be generated in the years to come as compared to data generated today.
It is believed that AI is now beginning to enter offices and corporate associations, and this change has made leaders revisit 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 remote and virtual support, and analyze unstructured data generated by everyday devices. Experts predict that more than 62 percent enterprises would start implementing AI applications in some manner by the end of 2018 and a significant reason behind this are a good deal of benefits AI has provided to the enterprises.
According to a poll by Demand base, about 80 percent of decision makers predict that AI will revolutionize marketing by 2020.
AI along with neural networks decipher discrete data right away, and be sure a perfect solution is put at the decision maker’s fingertips. The data being generated is always being upgraded, which also means the machine learning models also will be updated at regular intervals. The businesses would be able to get up-to-date information – breakthrough insights — that can be helpful for quickly changing business environments. Here are three main ways in which AI benefits workplaces:
1. Quicker decision-making with more confidence: What if something goes wrong with the manufacturing plant in your business, what could you fix ? I am sure the majority of the employees working on that plant could be clueless. In such cases, AI helps the maintenance team to determine what to fix first with confidence, as AI would automate and line up the decision-making processes for the maintenance team.
2. Accessing insights from Big Data: An exciting opportunity after implementing AI on your workplace is AI’s ability to recognize and understand patterns in Big Data that people cannot.
3. Protecting sensitive data: AI allows elimination of human error which in turn helps improve output quality and strengthen cyber security.
A noticeable difference has been seen in the roles of workers, after installation of AI. More focus is given on managing and on implementing strategic initiatives and at exactly the same time analytic tools automate and scale data to facilitate better conclusion.
• Creating new technology related occupations: A report by Indeed predicts that there is an increase in demand for workers with AI skills during the last couple of years. When there’s shortage of job seekers who can fulfill that need, it makes the skills more valuable for people who possess them.
According to a Digital Ocean report, 26 percent of developers are using AI-based tools in their work processes, and about 81 percent are keen in getting educated about the automatic tools.
The same study also found that in 2016 around 5,190 workers perished because of workplace injuries. About 14 percent automation could be saving lives as large as approximately 3,500 each year by end of 2030. Hence, instead of thinking how AI is taking away jobs, it’s time to think how many hazardous jobs humans won’t have 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 on your business, already?