Five Ways To Win With Artificial Intelligence

Artificial intelligence is growing quicker than we think. It’s exciting to be around to see the rise of artificial intelligence, but also to see how it actually affects us.

The presence of artificial intelligence today means that the current way of doing things will be completely reinvented, products and interactions alike.

The business world and modern workforce will also be enabled to leverage artificial intelligence and advanced analytics to better function. If you need to organize you business, Professional Organizer Services Portland will help you make things simple and professional for your business.

Artificial intelligence will be a definite part of our future, for example Expert System already offers Cogito, a cognitive artificial intelligence technology based on semantics and machine learning that applies a human-like comprehension of language to make sense of unstructured information in big data.

It is able to analyze text and even understand the sentiments from the text to interact with humans. This is only a taste of what is possible and what is to come with AI.

These developments make it more important than ever for companies to begin adopting these technologies to stay competitive.

Here are 5 ways that business owners can take advantage of artificial intelligence.

Five Ways To Win With A.I.

1. Automation of processes

Processes are often the first things to see changes and adjustments. If any day-to-day process can be made more efficient and/or effective, changes are most often than not, welcome.

Artificial intelligence can be implemented to take place of often mind-numbing work and replace some human work with machine work.

For example, filling out invoices and processing urgent insurance claims can both be automated by using artificial intelligence.

This could also mitigate human wages and reduce rates of human error, both major benefits for businesses.

2. Happier employees

By freeing up the time of humans, employees are able to focus on more strategic vistas instead of mind-numbing work.

Instead of feeling stuck doing work that does not use one’s potential to its maximum capability, artificial intelligence can support employees by doing the mind-numbing simple work and enable them to unleash their true potential.

Businesses will only see the positives in this, as long as employees seek to polish and expand their skills and the businesses themselves support them in doing so, as well as putting their skills to good use.

As a report on artificial intelligence use produced by Infosys stated, “In organizations that are more mature in their use of AI, employee resources are being effectively used to the benefit of AI implementation and not simply sidelined by technology.”

3. Reduced costs

Cost reduction is often a main driver for businesses to take advantage of artificial intelligence.

For example, the human support needed to complete tasks that could be completed via artificial intelligence could be shifted and save businesses significant amounts of money.

For example, take chatbots as an example of artificial intelligence. Businesses could utilize chatbots instead of human service for simple and frequently asked questions from customers.

Companies could trim costs significantly by simple automating their customer service programs.

Analysis firm Juniper Research said, “We believe that health care and banking providers using bots can expect average time savings of just over 4 minutes per enquiry, equating to average cost savings in the range of $0.50-$0.70 per interaction.”

4. Better customer relations

Keeping products, services and business models up to date and accessible makes customers happy all around.

By being able to resolve problems quicker and personalize their actions to a greater extent, customers are able to get more tailored treatment according to their needs.

With the right mix of AI and human interaction, customers will get the best service as possible. As artificial intelligence matures, so does the ability to answer common questions faster and smarter.

For example, instead of waiting on hold for 30 minutes for personal customer service, AI just may be able to help you out.

Bettering customer relations and expanding a customer base will always be a priority of businesses, but how we get there will shift as new potential and customer desires are introduced and expanded.

 5. Increase revenue

With artificial intelligence, businesses are able to make better decisions, backed up by contractual data, more so than ever before.

The combination of automated processes, happier employees, reduced costs and better customer relations all contribute to higher productivity and increased revenue.

Each factor individually, as well as combined drive revenue. For example, automated processes are more efficient and often more accurate, saving businesses both time and money.

The smoother a business runs and the more motivated that people are, the more successful it will be.

So long as artificial intelligence is put to good use and human employees are supported and encouraged, revenue will continue to increase when paired with artificial intelligence.

Looking forward, we can expect to see pretty big leaps and deeper implementation of artificial intelligence.

Many decision-makers even expect that their organization’s sector has been or will be disrupted by artificial intelligence.

Businesses have already been investing in AI, but over the next couple years we expect to see an even greater commitment.

It is only in due time that we will see how businesses and the market will create, see and contribute to greater success and the competitive edge our future holds.

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About the Author

Rohit Langde is Founder and Editor-in-chief of Blogsolute. Tech Blogger by Passion & Profession | Mechanical Engineer by Qualification | Introverted Geek by Choice

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