Why Businesses needs Artificial Intelligence

Business needs Artificial Intelligence 

Why Businesses needs Artificial Intelligence

Artificial Intelligence (AI) has real-world business applications.

By capitalizing on AI business applications we can increase our profits a hundred folds.

Thus, Artificial Intelligence is not a replacement for human intelligence and ingenuity.

Rather, it is a tool in business for maximizing profit and productivity.

Its ability to process, analyze, organize, and interpret tones of data faster than the human brain is what sets it apart.

For all business-minded individuals, employing the help of AI to further explore and grow their business is the new horizon of making money.

It does not matter, the type of business you have or run, artificial intelligence is ;

“Artificial Intelligence is the new electricity” Andrew Ng.

Artificial Intelligence today is rapidly used as a competitive tool to enhance efficiency.

As a new technology, AI is taking the world by surprise and getting mainstream acceptance.

Therefore businesses all over the world are in the run to take hold of AI, incorporate it into their business to be profitable

This puts AI as the new go-get technology that every company needs to explore and to meet the demands of productivity.

Every serious technological company now wants an Artificial Intelligence team in place.

These companies are already investing millions if not billions in AI.

They are doing this in other to find individuals who can use developed AI for situation assessment, prediction, analysis, business assessment, recognition of business anomalies which system can use for productivity.

Gaint companies like Google, Facebook, and Amazon are already employing this system as their main intellectual conversational interface and used as recommendations for a productive business.  

Are you still having doubts about the capability of artificial intelligence in business?

Then you must read “Computer ties human as they square off on ‘Jeopardy”

Therefore as with all emerging technological trends in the past decades, some elements of artificial intelligence are blown out of proportion.

While others may be underhyped.

Some elements of AI in movies incite fear in us as portrayed by Hollywood. 

AI in movies incite fear

However, we see it, portray it, try to explain it, there are some facts yet to be uncovered.

The bottom line here is, AI benefits us in all aspects of our livelihood than the dangers we are predicting.

Artificial intelligence has now moved into the business world.

It is now used to bring about the solution for real-time sales problems, logistics, manufacturing, and other challenges associated with the business world.

A company like IBM has already Put smart to work in fields such as Agriculture, Automotive, Aviation, Banking, Security, and education.  

As a business owner or a Chief Executive Officer (CEO), you can’t just apply Artificial Intelligence into your business and expect it to perform magic.

You have to first consider;

What can Artificial Intelligence do for your Business?

Based on your research as a business owner, a CEO, or an entrepreneur.

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Considering how to apply AI in your business to yield the desired result should be the first and utmost priority.

To do this, you must list and frame a general view of your business and what AI can do for you.

The listed items must be used-case specifics of real-time business application of Artificial intelligence.

Such as improved employee productivity, faster workflow, improve product productivity and service, reducing cost, and maximizing profit.

After deciding the use-case, then set a target time-frame for achieving all that was listed by prioritizing them based on use-case feasibility.

It is advisable to start with a task that the AI system can accomplish within a short time.

With these, the Artificial Intelligence program will learn and how to analyze and continue learning to give a better result.

Everything we love about a product in any business is the manifestation of our human brain ingenuity. But when we amplify our ingenuity with artificial intelligence, we may invite the potential of a flourishing business appealing to a civilized world

The secret is starting small; this means we begin by applying artificial intelligence to a small part of your data (a controlled data that we already know the outcome of the analysis) rather than too much and too soon!

Assuming you are applying it to collect data on several people who want Pizza delivered to their homes, you can start by collecting data for 30 minutes.

Collect feedback and match the feedback with the control sample, then increase the time to an hour, etc.

AI is an incremental system that learns and grows, then learns and grows again!

The bottom line here is to help the AI system learn some common sense before exposing it to a massive amount of data to analyze.

Now that we have considered what AI can do for us, we need to adopt it into our business

Adopting and deploying Artificial intelligence in Business

Adaptation of AI in business

Adaptation of AI in business at an early stage has seen more than just exploration.

It has gone beyond pilot programs the applications of artificial intelligence in business.

The continues learning of AI in the field of business have led it to catch up with the state of the art technology that has proven reliable in the business world.

Artificial intelligence delivers real-life benefits to individuals, companies, enterprises, and CEOs for running their warehouse, automation of stocks inventory, and the automation of self-drivingcars. 

Computer processing power has grown since the introduction of algorithms, machine learning, and sophisticated artificial intelligence.

These companies that are yet to adopt AI systems at a reasonable scale or even at their core are unsure of better business returns from their investment.

Companies like Wymore automaker  that have adopted AI has since seen better results like self-driving cars, and the banking sector has also witnessed a growing business because of AI. Google receivesover 63,000 searches per second  on any given day because of its earlier adoption of AI to power search.

After the adoption of AI into business, the business process has gradually started seeing outcomes based on the learning process of artificial intelligence by gaining more experience.

These led to the automation of data processing and the instant execution of business insight to yield productivity and efficiency.

The business will start enjoying the benefits of deploying artificial intelligence;

Benefiting from AI in Business

Businesses take up artificial intelligence to reduce costs, increase efficiency, and revenue.

For maximum benefits, the business should employ the full range of smart technologies in becoming productive.

By improving customer experience, bringing the best of the business by relying on the use of machine learning and neural AI networks.

Even a business that is new can also benefit from AI wide use-case.

Whatsoever is the reason behind considering AI use in your business, it will spontaneously change how you operate your business and the amount of revenue it generates.

The main driving force for using AI in any business is to have a competitive advantage over a competitor by deploying the right Artificial intelligence in your business to achieve;

• It helps in saving time and money by automating business routines.
• Makes faster business decisions.
• it eliminates human error in business.
• it predicts customer preference.

When human intelligence and AI technology march together, they perform better and at an expedient rate.

AI can take up the mundane task,  repetitive tasks, and automates them by managing other unforeseen outcomes.  

AI should be considered as a means of augmenting human capabilities in business.

The willingness to embrace change and take a leap of fate can bring about endless opportunities for most businesses.

Digital Marketing and Artificial Intelligence (AI) 

Artificial Intelligence Opportunities for your Business

Business differs, so are their approaches towards profiting and becoming productive.

Whatsoever the reason for you considering AI in your business, it has the potential to change the business efficiency and productivity.

As such, you need to have an open mind and deploy artificial intelligence in whatsoever business you want to pursue.

It is also important very crucial to know that AI is an emerging technology and at the moment its’ application in business seems limitless.

Therefore, you can create an enabling mindset towards reaching the peak of your business. 

To do this, employ machine learning for your business by finding  Artificial intelligence specialist  to carry out the groundwork of integrating your business with AI.

The Application of Artificial Intelligence in Business

As artificial intelligence is steadily passing into every field of endeavor in life, it seems to have different applications for every business.

Artificial Intelligence in Business

Here are some of the AI technological applications in business today around the world.

These applications are in use and can be of interest to you as a business owner.

Workload Automation:

One of the most common problems faced by employees by their employers is workload.

Especially in a country like Nigeria where the staff is underpaid and worked till they pulped.

Whenever AI is used in business, it can reduce some of the workloads on the employees so they can give in their best for the company they are working for.

Using the AI technology will make the collection of data from sensors, machines, and people easy and help in a more formal presentation of information for better understanding.

Automation of some of the workings of the employees can reduce worker's burn out, and help the company realize its dreams.

Customer Service Improvement:

Virtually most business has customer service support.

Customers' service help in opening the business to the people and making the business itself people friendly.

Customer service support is also a human who needs to rest from stress and mundane questions from customers.

Therefore, artificial intelligence programs like chatbots are used to answer simple questions from customers who are not willing to read the FAQ of a company.

While the customer support can have time to be ready to answer technical questions that are not listed in the FAQ of the company.

Increasing Manufacturing Time and Efficiency:

Manufacturing industries have always paid for overtime whenever they are behind the deadline for service delivery.

These incures costs and add fatigue to the factory workers to deliver on time in other to safeguard a contract.

With the help of AI-powered anthromorphobic robots, these machines can work around the clock without been tired and don’t demand payment for overtime.

Data Analysis and Management

One of the important advantages of AI in any business is its ability to help you manage and interpret data.

Minning of data with artificial intelligence becomes simpler and more efficient and less time wasted.

It also adds value to data by making insightful meaning to data acquisition, analysis, and interpretation

Artificial Intelligence in Business: the Limitations

AI is not sentient, therefore it must have some risk and limitation.

Like every technology, it should not be used for bad, rather for good and its limitation should be known.

Come on!

Businesses all over the world are trying to find ways to put AI to improve productivity, profitability, and reduce loss.

However, there are some certain risks and limitations that this technology comes with as default.  

One of the main barriers to artificial intelligence in business is the availability of data.

For a flourishing business, there should be available data that can be used to train the technology.

Unfortunately, most businesses have little data that technology can use to grow.

Businesses should endeavor to provide sufficient data that can be used to scale their AI for productivity and better result.

The adoption of artificial intelligence by some business is slow because of the shortage of skills.

There are but few technical staffs with the knowledge of what an average business AI needs to scale.

Around the world, there is a shortage of data scientist that can effectively deploy their expertise in the business.

Thus, this has posed a problem for utilizing the effectiveness of artificial intelligence in the business sector to scale it.

Another ravaging problem in the business industry is the cost of deploying AI in business.

Smart technologies like AI need constant maintenance and someone's experience to run such programs.

With insufficient funds to maintain AI, it will not be deployed in business and its effects can’t be felt.

Outsourcing such delicate programs to a data scientist and AI programmers come with a heavy cost those small business owners can’t afford.

Even if you can mitigate the cost effect, depending on the type of AI been deployed, it takes time.

Sometimes, because of a lack of expertise on the system, it may yield an unwanted result because of the input parameters.

On A Final Note

Technology is changing, what we know, how we know and use it is also changing.

Artificial Intelligence is also part of these technologies and is especially affecting the business industry.

It does not matter the business location, but a business that needs to scale its productivity and grow needs AI.

AI has seen business acceptance, and some companies are already benefiting from technology.