Application of Artificial Intelligence in business
Artificial intelligence(AI) is the ability of digital computers or computer controlled robots to perform tasks commonly associated with intelligent beings. It is an area of computer science that emphasizes the creation of intelligent machines that work and react like human beings. The computers with artificial intelligence are designed for speech recognition,learning, planning and problem solving. Example; Apple’s Siri (Virtual Personal Assistance).
AI has dramatically changed the business landscape, it continues to be a hot topic in the technology space as well as increasing its inception into many realms e.g healthcare, business and gaming. AI powered chatbots in enterprises will also see an influx of people getting more comfortable with how AI can actually benefit businesses. Chatbots in particular, are always on, delivering smart and flexible analytics through conversations on mobile devices using standard messaging tools and voice activated interfaces. This dramatically reduces time to collect data for all business users, hence accelerating the pace of business and streamlines the way analysts use their time , preparing companies for the growing data needs of the future.
Current business communication is overloaded with content channels tools and so called solutions, depriving individuals (and companies) from hitting targets while also harming work-life balance. AI will help businesses improve communication internally and externally by enabling individual personalization for each professional allowing for enhanced focus and increased productivity. With AI personalization, each individual will be empowered thanks to an intelligent virtual assistant, helping take care of repeatable tasks, as well as next-best-action to take, as to utilize much more time efficiently without requiring any extra effort. In the short in the long run, business process will improve, innovation will grow as employees will clear their tasks and stress may decrease.
When combined with customer data and analytics, AI removes friction from customer experience. It empowers businesses to act on customer data to drive improvement throughout many areas of supply chain operations.
Mobile technology also has made consumers hungry for AI. Consumers demand shorter delivery waits from retailers and retailers will expect the same from manufacturers and the distribution centers. As you can see that the use of Artificial Intelligence is prevalent in many aspects of the business. Today every company is in some away an IT company. Hence as business leader, you need to move with the market and take steps to leverage this technology to its best possible extend.