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Guide to using AI in your business: 8 Ways AI Will Change The Way You Do Business
The recent advancements of artificial intelligence (AI) have paved the way for businesses to innovate at a breakneck pace while eliminating redundant roles simultaneously. AI cannot fully replace human aspects like creativity, judgment, and emotional intelligence - but where technology has failed humans to reach consumer expectations, AI is capable of meeting or even exceeding them. Understandably, widespread general AI adoption is a distant future. But AI for business processes is a space with constant innovation and improvements with practical applications today. It is vital to the survival of your business that you keep up with the latest trends and advances in the space to ensure that you’re not left far behind. Here’s a guide to how you can successfully use AI to improve your business processes.
What is Artificial Intelligence?
Artificial intelligence (AI) is the capability of a machine to imitate intelligent human behavior. A machine can appear to think and reason and behave as if it were alive and could learn. The first form of AI was created by Alan Turing in 1936 and called the Turing machine to break the Enigma machine and was successfully established a significant tactical advantage for the allied powers during the second world war. After a much-dreaded AI winter, improvements in the AI space began to resurface. There is no universally-accepted definition of AI, but at its core, AI is a branch of computer science that aims to simulate human intelligence with reasonably high accuracy.
Types of AI
Artificial intelligence can be divided into specific categories based on the capabilities of the system. The types are:
- Narrow AI:Narrow AI refers to a system capable of performing a single task well enough even to surpass the performance of a human. However, the performance of a narrow AI is limited given that it is trained using a particular dataset, and the scope of its performance is limited to the learnings from the said database. Some good examples of narrow AI are virtual assistants like Siri and Google Assistant, self-driving software like Tesla’s full self-driving and OpenPilot from CommaAI, and specialized voice and speech recognition software.
- General AI: General AI refers to an artificially-intelligent system that exhibits human-like intelligence. AGI is capable of performing any task that a human can perform with great accuracy. At this point, AGI is a far-fetched dream and requires advancements in computing technology even to be feasible.
- Superintelligent AI: A superintelligent system is much more intelligent than humans. It can perform any task better than humans. Superintelligent AI is much more of a theoretical concept and is generally viewed as the logical outcome of general AI.
How to Determine if Your Business is Ready for AI
Before AI adoption, you must consider the current state of your business and decide whether it is the right time to undertake this elaborate task. Artificial intelligence is being widely adopted in almost every industry, from manufacturing, healthcare, transportation, finance, and pharma. It is essential to have a streamlined data collection process, given that good data is the key to a well-trained AI. AI algorithms require mammoth amounts of data to learn. It is also essential to know the target areas you wish to attack first while implementing AI-based solutions. AI can be used to improve products with the help of user data or to make data-driven decisions, or automate mundane business processes to save time. It is also vital that depending on the kind of implementation, the investment can be significant, and it must result in a positive return just like any other sound investment. AI is alluring because of the hype that surrounds it, but it is not for everyone. Therefore, you must form a clear strategy, create a clear and elaborate roadmap, and not just dive in because of the hype.
How AI Can Drive Organizational Growth
AI can and does not perform miracles. It requires legitimate and good-quality data, iron-clad organizational processes, and a well-defined business strategy to produce value for your organization. Here are some of how AI can help your business:
- Increase the overall productivity by streamlining processes and automating mundane tasks.
- Making data-driven decisions to make constant improvements.
- Using user preferences to create a better, personalized user experience.
- Mining data to generate leads and increase sales.
- Improving constantly with the help of analytics and intelligent support.
How can AI be used in the business environment?
Artificial intelligence can help you make your business processes more efficient, cost-effective and adapt to the latest business trends. Businesses must look at the full suite of artificial intelligence technologies at their disposal to determine the best-suited technology for their need to maximize the value they derive from it.
Here are a few ways in which AI is transforming businesses today:
- Improvements in Customer Service.
- Automating Content Creation.
- Optimizing Manufacturing processes.
- Improving and automating parts of Market Research.
- Improving Sales and Marketing with the help of insights gained from Analytics tools.
- Using Robotic Process Automation(RPA) software to automate without significant changes to the organizational processes.
- Automating recruitment with the help of AI-powered recruitment software.
- Improving Meetings with the use of tools like fireflies AI.
Automating the right tasks
Over fifty percent of business leaders reported they plan to accelerate the automation of re[etitive tasks within their respective organizations. It is a widely-accepted fact that the future of work will be more about automating the right jobs. If you think about it, it's more efficient to focus on automating the repetitive tasks instead of focusing on each task. It is crucial to consider the importance of the task in question and the return generated on automating that task. It is simply not worth the hassle to automate certain tasks, but complete automation is inevitable given the pace of improvements in AI.
How Atidan Technologies Can Help You With Your Database Consulting Needs
Atidan specializes in creating customized strategies for AI adoption. With access to the largest talent pool in the world with a proven track record of customer satisfaction, Atidan can help you develop a rock-solid approach to ensure seamless integration. With access to Atidan’s highly experienced recruiters, you can even hire full-time or consultant RPA engineers for your business. With decades of experience in helping businesses with their technological needs, Atidan delivers more value than you could imagine. With global offices in the USA, UK, India, SEA and success stories across various industries, our goal is to help you realize the full potential of today's cutting-edge technologies.
