The Advantages of Artificial Intelligence in Business

The Advantages of Artificial Intelligence in Business

Although AI is only just beginning to take its first steps within the business world, its implementation is likely to accelerate at a dazzling speed in the coming years and profoundly change the way corporations operate both internally and externally.

According to a study conducted by PwC in 2017, artificial intelligence will be a vector for global growth. By 2030, PwC estimates that AI could increase global GDP by 14%, or 15,700 billion dollars. The benefits for organizations are multiple: productivity gains, hyper-customization of offers thus customer experience, time-saving on production, scheduling, etc. and, lastly, better quality.

Yet today, many companies do not understand the added value that AI can bring to their organization, or even how to begin integrating it into their business processes. AI integration is almost vital in the upcoming years, but you must understand why and how! Oscillating between FOMO and a desire to get an edge, many businesses are trying to succeed at using AI by trial and error. But your business deserves a better, more efficient approach, and we’ll help you with this article.

A Brief History of AI Integration in Business

After a period of digitization of companies, the time has now come for the development of AI projects. Christophe Shaw (from Microsoft) sees 3 reasons for this craze. The appearance of large amounts of data, computing power and the development of increasingly complex algorithms (“machine learning” and “deep learning”) has provided an optimal breeding ground for the emergence of the first artificial intelligence projects.

There are two main groups right now: some companies are launching or planning to launch artificial intelligence projects, and on the other hand, a certain number of traditional businesses have not even yet reached the digitization stage. However, since AI can be considered as a continuation and a natural evolution of digitization, its widespread adoption across all sectors is not likely to happen in the short and medium-term. As a result, most current corporations that rely heavily on AI can be considered as “early adopters”.

Businesses need to understand the current and future opportunities that integration can offer while keeping in mind the goal of profitability — many traditional, front-facing businesses don’t really even need digitization at this point. It is always about keeping a balance while exploring avenues that will make your business more profitable. This is why we recommend hiring AI consultants to make the calculations for you — they are experts in the field.

Why Integrate AI?

AI can be beneficial for the internal functioning of a company as well as a vital improvement to the product/service line up. Internally, artificial intelligence will allow us to gain productivity, especially through the automation of some boring or low value-added tasks that employees are performing now. Recruiters, for example, spend 60% of their time sourcing and qualifying CVs. With the help of an intelligent tool, they could focus on making calls, organizing appointments with their clients, debriefing interviews and embarking on new sales prospecting. It’s also a way to save time by making decisions.

I am a full-time professional blogger from India. I like reading various tech magazines and several other blogs on the internet.

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