The Benefits of AI for Businesses Today
Perhaps you’ve read articles here and there about artificial intelligence incorporated into today’s work tasks, but it’s largely off your own business radar. You might see it as a tool that enhances operations under the surface of software, still somewhat unknown in your concrete organizational decisions. AI is becoming increasingly pervasive and going far beyond making software stronger. Concrete applications range from healthcare to environmental efforts and all in between. In fact, there’s hardly a business sector that wouldn’t see tangible improvements from the powerful resources AI can give us. Here’s a look at some of the benefits of AI for businesses today.
Error Reduction & Better Security
Let’s face it—we humans are prone to exhaustion, distraction…and errors. While we definitely want to improve our own focus and productivity, we will never be error-free. These lapses can occur in all kinds of places. Repetitive tasks can cause boredom and invite the human mind to lose interest and slip up. In cases like this, automation powered by AI can do these kinds of tasks more quickly and without errors. For developers, coding problems often come up when mistakes are made. And sometimes coding errors are not simply productivity killers but also lead to increased vulnerability to cyber attacks. Of course, alleviating this issue is only the beginning of AI’s potential in providing improved cybersecurity and risk management.
Savings in Costs and Efficiency
Studies show that using AI technologies increases productivity and revenue for companies. It cuts down on costs and saves employees time. Potentially, companies can reduce their hiring by having automated AI complete tasks that a new employee would have done instead. But AI doesn’t have to take people’s jobs. Rather, it can free up their time to work on more human business elements like strategy, creativity, problem-solving and communications. And restructuring the workplace like this carries endless potential for business transformation.
Improved Business Insights
AI can process and analyze much more data than humans can. This capability is one of the benefits of AI that provides something new to an organization rather than replacing existing human tasks. With AI-enhanced data processing, such as through Power Business Intelligence (Power BI), companies can gain visibility into insights they never would have seen otherwise. Human monitoring would simply never have reached that level of view. This is particularly helpful in marketing, where a constant influx of data can be quickly organized, analyzed, and even turned into business recommendations suggested by AI.
Management of Operational Equipment & Inventory
For businesses that are more equipment dependent, such as construction or large commerce companies, AI can track operations, equipment lifecycles, and maintenance needs. It can predict when equipment may become vulnerable to failure and set scheduling for maintenance when necessary. Likewise, AI can aid in managing inventory, another time-consuming and tedious task for humans.
More Seamless Customer Experiences
Human employees may not be able to respond to customers right away, and sometimes it’s that immediate response that makes all the difference. Customer service and communications play a huge role in customer behavior and engagement. With the help of AI, an organization can offer communications round the clock and at least respond to potential customers soon enough to let them know a human representative will be in contact with them shortly. These kinds of connections leave customers more satisfied and likely to return to the company.
Edge Over Competitors
Finally, there’s no doubt that organizations boosted with the capabilities of AI will have a strong competitive edge in their fields or markets. The efficiency, insight, reduced costs, and strengthened security that AI provides can make an organization stand out to its customers—or save it from problems that would make it harder to compete. As AI becomes more of a familiar technology, those who don’t make use of its resources may have trouble keeping up.
What are the Benefits of AI for your Organization?
How might some of these benefits play out in your organization? What areas of your company could use some revitalizing, and where could this take your business? If you’re wondering where to start, or how to make stronger use of AI tools you already have access to, let us know and we’ll help you strategize. Your business may have potential just waiting to be tapped.
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