“We have seen AI providing conversation and comfort to the lonely; we have also seen AI engaging in racial discrimination. Yet the biggest harm that AI is likely to do to individuals in the short term is job displacement, as the amount of work we can automate with AI is vastly larger than before. As leaders, it is incumbent on all of us to make sure we are building a world in which every individual has an opportunity to thrive.”
Andrew Ng, Co-founder, and lead of Google Brain
With the black swan of events, everyone was forced to shift their workstations home overnight. The students were asked to stay indoors and the classes turned digital. We have come a long way with our past experiences and the future is surely unpredictable. In these tough times, it is the only technology that has helped the world run normally. From online food delivery apps to grocery delivery to learning to healthcare, you name it and there is a technological solution to it. And if you dig a little deeper the one technology that is making everything so easy and simple is Artificial Intelligence.
Often accused of being the evil technology for the threats it brings with its advancement, the technology has proved, each time humans fail, technology can rescue them and provide them stronger and better life choices.
Artificial Intelligence does bring to the market the fear of job loss and unemployment, but we must understand that it also brings with itself the opportunities to run the businesses normally and employ even more resources.
Accusing technology was a trend before the COVID pandemic but the dark time of human history taught us it is with harmony that humans and technology can grow.
If you own a business that is far away from technology then my friend I must say, you are losing the battle.
Various departments of your organization can be made technologically advanced for better and stronger solutions. It hardly matters what department it is, a little extended help from technology can do wonders.
Here are some of the dominant departments of any business and how AI technology is transforming it from the traditional ways!
Marketing Department
“Eighty percent of what we do every day will be intelligently automated to some degree in the next three to five years.”
Predictive Analytics
If your marketing team isn’t implementing smart solutions for your business growth then you are actually behind a lot of others in the market. AI cannot only help you strategize your marketing process but can play a significant role in bringing them into action. We are all well aware of how predictive analytics segregates any data in terms of interest or demographic and can display ads that are based on a user’s browsing history. Not just this, the AI-based recommendation tools are gaining popularity and the technology is helping people find exactly what they need.
Predictive analytics follow your users’ mouse actions and track them and find out what made them abandon the cart so easily.
Chatbots
AI-based chatbots have gained popularity around the world in less than a year’s time from their launch. These bots are designed exclusively to drive sales. They are developed to assist businesses with taking care of issues, propose items or services, and backing deals. Along with this, an artificial intelligence solution upholds advertisers by breaking down information on buyer conduct quicker and more precisely than people. These experiences can help organizations make acclimations to advertising efforts to make them more viable or plan better for what's to come.
With constant reminders of the objects in the carts, it becomes easier for businesses to bring a sale into action. Over the years experts have worked on various techniques but constant reminders have played their trick since time immemorial.
Marketing is one business function where the role of technology can never be restricted to a particular work environment. As the technology expands, so does the role!
Artificial Intelligence in the Sales
“AI is an engine that is poised to drive the future of retail to all-new destinations. The key to success is the ability to extract meaning from big data to solve problems and increase productivity.”
Lead Generation
Marketing and sales go hand in hand and artificial intelligence-based solutions can do wonders for the sales team. There is definitely a side to selling products and services that are uniquely human, and AI can help the sales team improve the objectives of the organization. AI helps in analyzing sales forecasting, predicting customer needs, and improving communication. An intelligently set lead generation process makes it easier for the sales team to connect with potential clients.
Deal Closing
Artificial Intelligence based solutions can dispassionately look over the data collected and help the team decide which team to prioritize and which ones can be skipped. Not just this, the sales team can be guided by the technology on the action plan and the deal prizes that can be offered. AI can even help you shake off the stress of the drudgery that comes with the higher-value tasks.
Research and Development with Artificial Intelligence Assistance
“It is difficult to think of a major industry that AI will not transform. This includes healthcare, education, transportation, retail, communications, and agriculture. There are surprisingly clear paths for AI to make a big difference in all of these industries.”
In a world that is driven by technology, it becomes important for businesses to rely on technology for their operations. With Artificial Intelligence and Machine Learning technology expanding at a never seen before speed, it becomes quite important for them to assist businesses to grow to adapt to the future they are trying to bring in. The in-depth knowledge and understanding of various industries bring to the surface the flaws that can be worked on. Some of the industries that depend more on the R&D part than the implications are healthcare and pharmaceuticals, financial, automotive, and more. Yes, these industries have a great scope to advance in a way that we do not feel the future is away.
3D surgery demonstrations before real surgery, self-driving cars, crypto are a few examples of how the world is adapting to the technology. With these simple applications of AI technology, we can think of how big and beautiful the future that would enter our world would be.
AI can simply automate a lot of business operations thus leading to less human intervention and better accuracy and efficiency.
AIOps Is on the Rise
“Nobody phrases it this way, but I think that artificial intelligence is almost a humanities discipline. It's really an attempt to understand human intelligence and human cognition.”
With the outbreak of the pandemic, the world has seen the biggest work from home experiments too. And in this experiment, it was the technology that kept things function the right way. If it wasn’t for the strong technology a lot of businesses would have collapsed. If you are looking forward to building a strong solution that can help you grow stronger and better over the years then adopting Artificial Intelligence with your operation is a great move.
Information Technology broadly covers almost the complete functioning of an organization being its biometric attendance, file error analysis, IT systems management functions as well as automating many routine processes. The technology at once can help identify the issues within the functioning of various systems so that the IT team can proactively fix them before any IT systems go down. AIOps is basically meant for Artificial Intelligence to function in harmony with businesses.
Less Artificial More Intelligent Human Resource Solutions
“AI will augment HR and give HR time to work on more strategic business issues. The opportunity is to use AI to streamline HR manual processes and provide a more consumer-grade service to employees.”
Recruitment Process
We have seen technology take charge of most of the actions that HR has to offer. Artificial Intelligence has the potential to transform into a strong human resource for recruitments. They can check the resumes, sort them, and schedule interviews online. Artificial Intelligence can unquestionably assist with further developing proficiency and set aside cash via robotizing dreary assignments, yet it can do substantially more.
Artificial Intelligence has transformed the way organizations are involved in talent acquisition programs. The candidates will expect a customized insight from their boss similarly as they have been familiar with when shopping and for their entertainment. AI and AI services can assist with giving that. Furthermore, AI can assist HR offices with information-based dynamics and make competitor screening and the enlistment cycle simpler. Chatbots can likewise be utilized to address numerous normal inquiries regarding organization arrangements and advantages.
Virtual Assistance to Take Care of Your Clients
“Harnessing machine learning can be transformational, but for it to be successful, enterprises need leadership from the top. This means understanding that when machine learning changes one part of the business — the product mix, for example — then other parts must also change. This can include everything from marketing and production to supply chain, and even hiring and incentive systems.”
AI-based assistants regularly perform simple tasks for end clients, like adding errands to a schedule; giving data that would typically be looked at in an internet browser; or controlling and checking the situation with brilliant home gadgets, including lights, cameras, and indoor regulators.
Other than these pity tasks users also exploit the virtual assistance for telephone decisions, make instant messages, get headings, hear news and climate forecasts, discover inns or eateries, check flight reservations, hear music, or mess around.
Who with complete honesty can confess not messing up with Siri at least once in their life?
All of us have had those fun conversations with Siri. A classic example of how virtual assistance has been making its way in your business and your day-to-day lives.
Supply Chain Management Goes Automated
“The robots of the cartoons and movies from the 1970s are going to be the reality of the 2020s.”
Remember how in Ducktales Mr. Scrooge had his personal scientist who would bring into existence all kinds of weird and fun machines that would make our day-to-day lives easy. Well, if you think a little harder it is the reality now.
Richie Rich back then had a robot. A fully functional robot.
Inventory Management
These instances from our childhood days have turned into working reality in the span of less than half a century. With Computer Vision Systems the machines would track who enters the warehouse, what goes out, what comes in and the inventory is maintained up to date. Inventory management systems use Artificial Intelligence as a tool that needs the least human intervention and delivers 100% efficient results.
Contact-Less Delivery
With AI and GPS solutions being integrated into drones, the delivery for most items around the world is contactless. Instead of human valets a lot of organizations now have small bots and drones that deliver food and other items to households. We have been looking after the most significant changes in the world with interesting solutions on the way.
These instances clearly reflect that AI is no more the technology of tomorrow. With time it has seeped so deep into our lives that we must appreciate the way it is changing our business world.
And the Final Words!
“Anything that could give rise to smarter-than-human intelligence – in the form of Artificial Intelligence, brain-computer interfaces, or neuroscience-based human intelligence enhancement – wins hands down beyond contest as doing the most to change the world. Nothing else is even in the same league.”
Yes, AI is taking business operations a step forward to where we were yesterday. It is evolving on a daily basis and there is something new in the market all the time. With work from home being the new normal the organizations have relied on technology to not just track their employees’ working but also their mental health and peace of mind.
Against all speculations that AI is an evil technology, researchers have made sure that integrating AI with your business solutions would not only help you work efficiently but it would also take care of your employees and their worries.
So, before it is too late adapt to the technology and see how the star-wars and star-trek movies come to action in your office too!
