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3 Ways Your Business Can Take Advantage of Artificial Intelligence

3 Ways Your Business Can Take Advantage of Artificial Intelligence

Artificial intelligence has taken the world by storm, and with recent improvements to automated technology and machine learning, it should be clear that this technology is not going anywhere anytime soon. With proper implementation, artificial intelligence can help your business cut costs, improve operations, and mitigate unnecessary or repetitive tasks, all of which compounds to create a smoother and more manageable workload for your employees.

First, it’s important to understand what “artificial intelligence” actually is. In the business context, AI and, by extension, machine learning, is any automated technology that can perform tasks that are normally done by humans. This technology can take data and apply it to scenarios and identify trends. To give you an idea of how quickly the AI industry is growing, it is expected that it will exceed $390 billion by the year 2025. Obviously this technology has a major part to play in the years to come, so why not jump on the bandwagon and consider it for your own business?

Here are some ideas for you to ponder for implementing AI within your own organization.

Streamlining Tasks and Operations

All business owners know how much it takes to manage and maintain operations. AI is great for making certain tasks easier by virtue of automating them. It might seem like automating certain important tasks isn’t the right call, but if they are time-intensive, AI can make a world of difference. For example, AI software can sift through job applications.

We all know how much time the job search process takes, particularly for employers; it’s why retaining employees is often more lucrative than hiring new ones. If you are taking too much time on this process, that is time not spent on keeping operations moving. Enter AI-based software like Jobscan or Eightfold. Artificial intelligence can help by digging through that pile of resumes and cover letters to ensure that only the most qualified candidates catch your attention. As for customer service, you have probably experienced AI for yourself. AI systems can be used to answer the most frequently asked questions of customers and clients, freeing up your staff to either perform other tasks or address only the most complex of problems.

Enhancing Your Data Analytics

Your organization collects data of some kind, but does it make full use of it? Some companies have the data but not the tools to analyze it, whereas others have the tools but haven’t the slightest idea of how to use them. AI can help companies on both sides of the aisle by looking at trends in data and showcasing them in a clear manner.

The key to all of this is something called predictive modeling. AI uses this to extrapolate data and analyze it for trends. AI can zoom out and take a look at the big picture, giving your organization some insight into the future. This helps your business make better decisions and move forward as educated as possible.

Lowering Costs and Increasing Efficiency

We always encourage people to look at AI not as a threat to workers’ livelihoods, but as a way to get more done with the time available to them. At the end of the day, it’s simply smarter software that helps accomplish a very specific task. AI has the capability to make most workers’ jobs easier to at least some degree. When looked at through this lens, it becomes a bit less concerning and more of an exciting way to get as much out of your organization’s resources as possible.

Looking at AI requires an unbiased approach, one that is strictly focused on the value proposition. If simple tasks can be completely automated, that’s great, but if complex tasks can be made easier, that is the icing on the cake. At that point, the technology is doing exactly what it should be doing: making your life just a little bit easier and more manageable.

What do you think about AI in the business environment? Do you have any ideas for how you might implement it? Let us know in the comments.

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Tuesday, May 30 2023

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