What is the impact of artificial intelligence in business?
What AI means for business management.
In the short time that AI has been more viable for commercial applications, it has brought consumers many things already – personal assistants in the form of Amazon’s Alexa, Google Home, and Apple’s voice assistant Siri.
AI has also been used to help consumers make purchases or other decisions (like the Netflix algorithm that suggests things you might like based on prior viewing history) and through smart home devices like the Nest thermostat that can adjust based on whether you’re home or not.
So, AI has already easily and quickly integrated into consumer spaces to help make the lives of everyday people easier and more convenient. What then is the role of artificial intelligence in business? Are there ways that AI software and technology could make business management simpler too?
Adding AI to Product Lineup
The first thing to think about when considering the impact of artificial intelligence in business is to consider your customer. They might already be using AI seamlessly with virtual assistants and smart home devices. Is there a way that your business can integrate more AI into their lives through the products and services you already offer?
Some car companies, for instance, have partnered with Apple or Google to provide car commands that align with the AI apps that users are already engaging with. You can ask your car to turn up the radio without letting your hands leave the wheel. Car businesses know that adding in this feature is a perk that can convert more customers.
So, when thinking about how to grow your business using AI or how artificial intelligence can make an impact on your business, ask if you can integrate with or enhance your current product and services with AI features or technology.
Using AI to Manage Business Functions
Another way that artificial intelligence is playing a role in business is behind the scenes. This means that AI can be rolled out to handle, manage, or assist with regular aspects and functions of the business.
Using artificial intelligence in business information can be a huge benefit. AI algorithms are already helping more businesses manage their data through deep analysis and plenty of specific industries are already benefitting from AI in their operations.
Logistics: Companies that use freight trucks or flights have found that using AI processes helps to determine efficient travel patterns based on the AI ability to source information from several places including weather, average fuel consumption, traffic, and other elements.
Healthcare: Some healthcare organizations are using AI to supplement physician training and education. Plus, AI has already been used in the healthcare industry to help review medical records and evaluate treatment approaches, like a digital assistant for doctors.
HR and staffing: Human resource departments and staffing agencies are using AI technologies to help them find the best talent from resume submissions. AI can match the best applicants with the job positions based on keyword functionality and AI’s ability to gather and analyze information from several sources co-currently.
How do you feel about the future of AI in businesses? Has your business used any AI software or technology to help further your businesses success?