We all know how the Internet of Things has made it possible to turn everyday devices into raw data sources for analysis to generate business insights. Artificial Intelligence (AI) has also been seen to be making analytics more productive and efficient in workplaces as well.
Businesses expect much more data to be generated in the coming years compared to data generated today.
AI is now believed to be beginning to enter workplaces and corporate organizations, and this change has caused leaders to review their business processes and functions. These days, startups are embracing artificial intelligence technology to reduce labor, increase work efficiency, and save time. AI can generate insights, provide remote and virtual assistance, and analyze unstructured data generated by everyday devices. Specialists predict that more than 62 percent of companies would start implementing artificial intelligence applications in some way by the end of 2018 and one of the main reasons for this is the many benefits that artificial intelligence has brought to companies.
According to a survey by Demand base, about 80 percent of decision makers predict that AI will revolutionize marketing by 2020.
AI together with neural networks decipher discrete data in no time and ensure that the perfect solution is at the decision-maker’s fingertips. The data that is generated is continually updated, which also means that the machine learning models will also be updated at regular intervals. Companies could access up-to-date information (breakthrough insights) that can be useful for rapidly changing business environments. Here are the top three ways AI benefits workplaces:
1. Make faster decisions with more confidence: What if something goes wrong in your industry’s manufacturing plant, what would you fix first? I’m sure most of the employees who work at that plant would have no idea. In such cases, AI helps the maintenance team decide what to fix first with confidence, as the AI would automate and align the decision-making processes for the maintenance team.
2. Access Big Data Insights – An exciting opportunity after implementing AI in your workplace is AI’s ability to recognize and understand patterns in Big Data that humans cannot.
3. Protecting Sensitive Data: AI enables the elimination of human errors, which in turn helps improve output quality and strengthen cyber security.
A noticeable difference has been observed in the roles of employees, after the deployment of AI. More attention is paid to managing and implementing strategic initiatives, while analytical tools automate and scale data to facilitate better decision-making.
Let’s see how AI is improvising the job landscape:
• Creation of new tech-related jobs: An Indeed report predicts that there is an increase in demand for workers with AI skills in recent years. When there is a shortage of job applicants who can meet that need, the skills are more valuable to those who possess them.
• Using machine learning to reduce busy work: By allowing automation to complete their mission-critical tasks, employees can free up their time for other essential tasks. According to a report by Digital Ocean, 26 percent of developers are using AI-based tools in their work processes, and about 81 percent are interested in learning about automated tools.
• Automation helps prevent workplace injuries: A study by Injury Claim Coach predicts that many injuries can be reduced by implementing automation in workplaces. The same study also found that in 2016 around 5,190 workers died due to workplace injuries. Roughly 14 percent of automation could be saving lives up to about 3,500 per year by the end of 2030. So instead of thinking about how AI is eliminating jobs, it’s time to think about how many dangerous jobs humans won’t need to do. in the days to come.
These were some of the ways you can improve your business using AI. What do you think about AI? Have you already implemented it in your organization?