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Feb 25

Forbes: The Top 6 Ways That Artificial Intelligence Will Affect Your Business In The Near Future

2 comments

Edited: Feb 25

Forbes Link

 

Extract:

 

1) Smarter tech to inform decision-making

 

Companies continue to invest in cognitive software capabilities, and although only the major players have deep enough pockets to realistically expect yield from such investments in the near term, empowered computer algorithms will undoubtedly play a key role in business across industries in the future.

 

What does this mean in real terms? Well, it means that as AI becomes more proficient at analyzing and interpreting mountains of data, and doing so faster than ever before, businesses have the chance to build better, more personalized and profitable campaigns. It means that as AI apps harvest patterns and insights from text, numbers, still images and video, you can better apportion budget and resources based on the insights gleaned from the advancing field of artificial intelligence and deep learning.

 

2) A streamlined supply chain

 

The supply chain is one of the more obvious areas that AI can help to improve, enabling enhanced agility and accuracy via the automation of manual processes. From AI-equipped machines such as inventory-taking drones to program-guided vehicles like driverless warehouse carts and improved data analytics and anomaly-detection software, smart tech is making the supply chain less fallible than ever. To make the most of AI in your supply chain, the adoption of natural language processing (NLP, the tech at the heart of Amazon Echo), robotic process automation (RPA) and deep learning technologies will be essential in the near future.

 

3) Continued focus on mobile

 

In the coming years, smartphones will have AI built directly into the hardware via a dedicated processor, a knock-on effect of which will be the popularization of features such as real-time speech translation. So, what does the incorporation of smarter AI into mobile devices mean for you? Well, the proliferation of new applications presents myriad opportunities for businesses of all shapes and sizes, and exploiting relevant apps will help open avenues for ROI. Furthermore, optimizing your site or service for mobile will continue to pay dividends. Naturally, you’ll also need to think about using mobile developers who possess a sound knowledge of both artificial intelligence and machine learning.

 

4) Customer relations

 

Engaging with customers is an integral part of any B2C enterprise but artificial intelligence is expected to alter these customer support processes in the coming years. AI-powered software solutions including sentiment analysis technology mean you won’t need a human to properly gauge a customer’s tone of voice, thus helping businesses respond more effectively to concerns, complaints and queries. After all, clients who have a pleasant experience with a company are more likely to want to share that experience with others, both online and offline.

 

5) Recruitment practices

 

What’s the best way to hire? There might be a different answer to that question in a few short years, as AI is predicted to replace 16% of HR jobs within the next decade (Undercover Recruiter). The integration of AI into your recruitment processes could make the endeavor to find the next bright-spark candidate easier and quicker, thereby saving you time and money. It’s not just a case of finding the right candidate that artificial intelligence can help with, but also finding the best fit, which AI can do by rapidly assessing a candidate’s online presence, matching it to the company ethos.

 

6) Improved cyber security

 

One of the most common ways to use AI in business is to track and identify behaviors consistent with fraud. Clever apps and software can also regularly self-adjust as they scrutinize and learn from data over time. Given the data breaches that have hit the headlines in recent years, and also the fact that cyber-attacks continue to grow ever more sophisticated, incorporating AI into your business is vital to protect consumer data, inspire trust and deliver true business value. Of course, the danger is obvious: AI can be used by both sides, both those seeking to attack and those determined to defend. This should be kept in mind at all times.

 

SUMMARY:

 

To summarize, remember that:

 

AI is not here to replace all of our existing processes: it is here to augment and improve, where necessary, and to help us work smarter. This applies to robotic process automation as much as computer vision, machine learning and other forms of AI.

 

Tech is not yet infallible (user-friendly AI remains incredibly tricky to implement) and perhaps it never will be, but AI can gather and analyze data quicker than people can – and it can work alongside people much like any effective tool. It can also eliminate or significantly reduce mindless and repetitive tasks and bolster productivity.

With the use of AI in business certain to continue at pace, use it to improve your standard business processes, streamline strategic output and remove guesswork from your decision-making. Embrace the future.

Forbes is the magazine which provides the information about the rich people in the world according to the categories as well as the Forbes is the international write essays for money magazine where you have to get the information about the business man which is run a business in the international level.

Oct 11

I will duly note my friend’s (yes, there is only one I trust) opinion on my perspective dates. He once hooked me up with a fake date that he thought would last forever.

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