Benefitting Businesses with Artificial Intelligence

By POOJA BISHT |Email | Mar 13, 2019 | 9600 Views

"Artificial intelligence is growing up fast, as are robots whose facial expressions can elicit empathy and make your mirror neurons quiver." - Diane Ackerman. 

We are entering into a technology-driven world where possibilities have evolved to an extent one can ever imagine. The advent of Artificial Intelligence has revolutionized the business, creating a number of opportunities and startups and bringing innovation to the next level.

It would be wrong to visualize AI into one particular domain when it is being used in a number of businesses today and expect to be used for many in the future.

Gartner in its report stated that the value of businesses using AI technologies will grow to $3.9 trillion by 2022 which could be taken as a great opportunity for AI to be used in businesses.

Many of the businesses today are deploying AI technologies to generate revenue, increasing productivity and above all, increasing efficiency and precision. 
The use of AI in the healthcare sector where with the help of machine learning and Artificial Intelligence it has been possible to predict the severe problems suffered by patients and finding a solution to provide a better health system has given hope to many of the people who die of the lack of the treatment and awareness. The use of AI-driven chatbots in assisting insomniac patients have made AI a boon to society.

Apart from its usage in healthcare, businesses online are using AI to improve their customer satisfaction and thereby increasing revenue to the company.

AI is already being used in customer services role by using chatbots (virtual assistants) in executing many customer queries and satisfying them with an assistant who is ready to fix any problem anytime. Also, Forbes in its recent report reported that 75 percent of enterprises using AI and machine learning can enhance customer satisfaction by more than 10 percent, which obviously gives AI leverage to be used by businesses.
With the new self-driving cars, AI is moving us to a paradigm with billions of mind-boggling opportunities shaping the future.

An AI machine is also more precise and accurate in many things than humans which further makes it a powerful tool to be deployed into the business. There are many high precision works which require great attention to detail. Ai in this respect could serve as a very powerful tool if used.

Ai has its application into a wide number of categories including Recruitment as well where developers are into developing the system to recruit the employees for a given organization.

The use of AI is obviously noteworthy and results are overwhelming, either you look at the timely completion of the work assigned ( which may be up or down for a human in working), the precision (which we have already discussed), the assistance (which is more readily available than a human assistance), the productivity (which increases when simple repetitive tasks are done by machines and productive one are left for humans), an AI is always can be used for generating revenues in business.

Source: HOB