Artificial Intelligence (AI) is becoming part of our everyday lives. In many cases, people promote the use of it and report the benefits of using it. It is important to remember that AI is not a replacement of human intelligence. It is used alongside human intelligence to make quicker and more informed decisions based on actions. It has been around for decades and has needed this length of time to be properly researched and developed. As well as its use in the home, AI has massive potential in the business world too.
On a simple level, AI is not best used on cyber security as most online security packages run off algorithms designed to combat the most common threats. Where AI is of benefit is against more sophisticated threats which fire multiple levels of attack on a regular basis. Suspicious activity is detected earlier and consequently, treats are dealt with swiftly and efficiently.
2. Marketing strategy
This is a great area of AI to make a huge impact. Searching and analysing buyer patterns, reviewing target markets, and observing competitors can and is done by people but AI enhances this by not only producing the data but in also executing a strategy moving forward. Humans can do this, but AI reduces human error in data analysis and reduces the time needed to create a strategy.
3. Building maintenance
Quite a common use of AI in businesses. AI is used to regulate temperature, lighting, and security systems within buildings. These happen automatically and eliminate the need for a people to sit and monitor data and charts. Human error is eliminated, and businesses run at a much more efficient level.
4. Human resource
A bit of an odd use here with the term human. It is important to remember that AI is not a replacement of human intelligence, more a way of enhancing it. AI can be used to complete tasks which would take the HR department hours. Streamlining job applications is a great way of using AI. Some companies go a step further with this and use the AI to contact candidates and invite them to interview.
Eliminate the repetitive and often tedious jobs within the manufacturing process. By handling this with AI, professional manufacturers can focus their time and skill set on the more intricate parts of the project. Consequently, productivity is increased, and human error is eliminated. It is not just physically completing tasks. Artificial Intelligence has the additional benefit of monitoring the demand for products. Rather than a person doing this, the AI does this automatically.
For years people have conducted research projects on varying scales and have done so with levels of success. AI is such a powerful tool in this area is in the sheer volume of research it can carry out with 100% accuracy. Once completed, the research team are then able to conclude findings and decide on which way to explore next. A great enhancement of using AI to conduct research.
Replacing people with AI within an accounting department is not possible. However, what it does do, is free up professionals to focus on higher level activities rather than day to day, mundane tasks. Day to day jobs can become monotonous which is where human error is a risk to a company. Also, the amount of tasks that can be completed with AI means more productivity within the accountancy division.
The developments in AI have been huge and there is no reason that this cannot continue in the future. There are courses available for businesses owners and their employees to attend so that they can stay as up to date as possible with new developments in the world of AI. Businesses are set to benefit more and more from AI. In fact, those companies that don’t utilise it are in danger of being left behind in their respective fields and areas of expertise.