How AI Plays a Crucial Role in Business & Workspaces

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Artificial Intelligence (AI) is an incredibly powerful and efficient technology. Increasing numbers of IT and other companies are adapting this innovative technology to improve business and productivity. Thanks to its unique features, AI is helping to cut back time lost in performing mundane, everyday tasks.

The AI technology has become so infused into our lives that many times, we fail to recognize it working behind the scenes.

For instance, your favorite streaming platform recommends you additional videos to watch, based on studying your preferences. A study by Statista predicts the global AI market to grow at an astonishing 54% every year.

About AI Technology

How AI Plays a Crucial Role in Business and Workspaces

If you are unaware of AI, then you should know that this technology provides computer programs the ability to “think” and learn on their own. Artificial Intelligence is similar to human intelligence but designed for machines. It is an excellent way to let machines perform mundane, tedious tasks so as to avoid human error.

Some of the most common uses of AI in our daily lives today are in the form of virtual home assistants, such as Siri, Alexa or Clever Nelly, to name a few.

Artificial Intelligence (AI) technology is classified into three main types:

  • Weak AI – This type of AI is designed to perform a single task and unable to perform any task beyond its limits. This is one of the most commonly-used AI technologies today and is found in numerous aspects of our daily lives.
  • Strong AI – This type of AI can understand and learn intellectual tasks that human beings can perform. This technology is still being developer.
  • Super AI – This type of AI technology is set to surpass human intelligence and can perform tasks even better than humans. This level of AI is still in its conceptual stages.

Benefits of AI Technology for Business and Workspace

Artificial Intelligence (AI) keeps on pushing the limitations and restrictions imposed by conventional technology on machine-enabled functionalities.

Let’s take a quick look at what makes AI technology more beneficial for work as compared to traditional human workforce:

  • AI lowers the time required to perform a task and enabled multi-tasking as well as eases the workload for current employee force.
  • AI allows performing tasks that were considered complex till now, and also lowers the predicted costs of business operations.
  • Also, AI can work round-the-clock, without interruption, breaks or feeling fatigued.
  • AI has incredibly huge potential as it can be applied across the industrial spectrum.

Advantages of Artificial Intelligence (AI) in Business and Workspace

Here are the distinct advantages that you will see when you integrate AI technology deeper and more extensively into your business operations and workplace tasks:

1 – Eliminate human errors

This is one of the major reasons that AI has found increasing popularity in various business domains. When you are able to minimize or remove human error entirely from the business process, then you are bound to get accurate results. However, this requires excellent programming.

Machines make decisions based on information which had been fed to them previously. This information is used in conjunction with certain algorithm sets. This ensures reduction in error and enhanced accuracy.

For example, Google’s “Nowcasting” program can predict weather patterns accurately for the next six hours. The company has combined the use of minimal data and simple methods to predict weather more accurately. This program has been successful in predicting weather events, especially thunderstorms, rains, etc.

2 – Remove risks

Machines can easily perform tasks which are otherwise dangerous for humans. For instance, letting machines deal with natural calamities can help to recover faster and put less pressure on rescue teams.

Google and Harvard have initiated tests on a program based on AI systems that can predict the aftershock locations of an earthquake accurately. This method involved studying more than 131,000 earthquake events and testing this neural network on 30,000 events from these.

The program exhibited incredibly stronger accuracy in identifying the specific location of aftershocks, as compared to conventional methods.

3 – Uninterrupted availability

As compared to humans, machines are incredibly diligent and can work almost endlessly, without the need for breaks and are not susceptible to fatigue or monotony.

Recently, Google launched its Contact Center AI to help businesses improve customer experience. This is an ideal example of an AI-powered helpline system for businesses that can handle relentless customer queries and issues, resolve them on priority and enhance customer experience.

Just that way, Amazon introduced Lex, a chat-bot designed for call center. This chat-bot has shown impressive intelligence skills and can even have coherent conversations with humans. It can recognize the caller’s intent, ask relevant questions and also provides feasible answers.

4 – Unbiased decisions

Machines are without human emotions. This feature is an incredibly critical aspect that enables AI-powered machines to deal with customers in a practical, non-emotional and realistic way.

Although IT customer support team members are truly hard-working, even they are susceptible to fatigue and other problems, which may in turn, affect their ability to solve the problem.

However, this problem does not arise when you have an AI-powered chat-bot replying to your queries. This makes AI-powered customer care systems noticeably faster and provide extensive solutions to regular or rare problems.

5 – Quick solutions

Enhanced AI technology is set to give machines the power to make faster, more practical decisions. One of the main advantages that machines have over humans when it comes to decision-making is that they are devoid of emotions. Emotional aspects of a customer care representative can inhibit their decision-making skills.

However, this problem does not arise when you are using AI-based customer experience techniques. A machine will always consider the factors, weigh the pros and cons and then arrive at a practical, feasible and best solution.

AI-powered machines are incredibly practical and always have a rational approach to every query or request.

Conclusion

Artificial Intelligence (AI) is considered to be a revolutionary technology as it has incredible potential to ease workload, enhance productivity and improve overall business operations successfully.

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Author: Maria Jones

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