Technology has taken over our physical and mental spaces like never before. A recent WEF report has called it “the fourth industrial revolution.” According to the report, technology will blur the lines between “physical, digital, and biological spheres” in the coming decades.
We already see technology taking over. Most small and big tasks are automated today, and wearable devices have made everything available at our fingertips. It’s the right time to engage artificial intelligence (AI) because of the ecosystem of technology and automation being developed.
It has become imperative for companies to look for ways to streamline their processes using the latest technologies and business automation practices. AI being used for these practices results in better utilization of resources and improved response time. Problems can be solved at a technological level rather than being escalated to a “person.” It’s also easier to quantify and analyze problems rather than resorting to troubleshooting.
What are the 3 key benefits of AI?
Efficiency & Accuracy: AI has the inherent ability to provide results faster and with greater accuracy. It can be used to detect problems, identify solutions and implement them at a faster rate. Companies have identified disruptive solutions that are able to provide results in time and create solutions that are easy to implement. It can also be used to work with intelligent systems and create path-breaking solutions.
Smarter Decision-making: Results are more measurable with AI. Machines can be used to analyze data and work on it in the right direction. For instance, companies are using AI to identify buyer trends or present relevant solutions to companies. This allows us to act in the right direction and make more effective use of our learnings.
Improvement to the bottom-line: For any business, bottom-line remains the key. AI is able to improve the profit for companies because of its ability to iron out imperfections, enhance productivity and curtail costs. Users are able to keep track of their tasks and complete them on time. This immediately improves productivity and profit.
Companies are rapidly trying to automate more processes to enhance productivity using AI. That’s because automation helps to curtail the time spent on lengthy and time-consuming tasks. Everyday business processes are quickly being replaced by automated systems.
Like everything ground-breaking, however, people have their reservations around AI. One primary result of this trend is the reduced human interaction, which has not gone down well with many thought leaders. Communication skills are seeing a downslide, something that organisations would not want to forego. For businesses, though, AI is a welcome change for all the benefits it offers. It is a mixed blessing but one that tilts heavily towards being a massive advantage. While some believe that things have become less human, many others see this technological shift as a welcome change – one that Mastech Digital, a digital transformation services company, is ready to help companies exploit, from which, they may reap the many benefits.