How Artificial Intelligence Automation Impacts Business
Before the COVID-19 pandemic, artificial intelligence (AI) was a little more than a conversation topic in business circles. Now, though, after experiencing transformative shifts in the corporate world as the result of the pandemic, more businesses than ever are considering the positive implications AI can have for their operations.
Companies in all industries can benefit from implementing AI. From making strategic business decisions to improving a customer’s experience, there are almost endless possibilities for AI.
5 Ways AI Impacts Business Operations
AI relies on human input. The more it is taught, the smarter it becomes. That means that every business has an opportunity to train AI to perform functions that benefit their stakeholders and customers.
Here are some ways AI and automation are impacting today’s businesses in ways that will shape tomorrow’s future.
Unlike humans, AI-enabled machines can operate 24 hours a day, seven days a week, without getting bored or needing a break. These computers can send instant alerts when they encounter an issue so that it can be resolved quickly, reducing downtime.
Automation is critical for businesses, especially those that are now operating with a remote workforce. Being able to perform a range of business functions like managing calendars, solving IT challenges, and filtering emails automatically saves companies and their employees a lot of time.
Improved customer experience
From eCommerce to health organisations like the Center for Disease Control, companies of all kinds utilise chatbots to provide quick answers to customer questions. An AI-powered chatbot can communicate with customers to answer commonly asked questions. This helps customers get answers quickly without having to wait for a human to be available. At the same time, letting a machine take over all the mundane and common questions frees humans up to focus on helping customers with more complex issues that cannot be solved by an AI.
Make informed decisions
Data is only useful if you can analyse it. AI-powered computers can process massive amounts of data in a short amount of time. Data sets that might take a person a month or longer to analyze could take a computer just a few minutes. This allows AI to make informed decisions faster than people, resulting in more efficient processes. In turn, businesses will see a drop in costs and an increase in revenue.
Significantly reduce errors
Humans make mistakes. Machines rarely do. Therefore, implementing AI into business processes will result in fewer errors. Because AI relies on human input, it can learn from any mistakes it does make once a human retrains it. Unlike humans who can forget what they’re taught, AI machines do as they are told, eliminating the potential for costly human error.
The concepts of AI and automation are critical for today’s businesses. With AI, companies can decrease costs, increase revenue, and improve efficiency by transitioning mundane and repetitive tasks performed by humans to automated machine processes. The result is an improved experience for everyone, including employees, stakeholders, and customers.