By: Posted on: February 9, 2018
In 1955, the word “Artificial Intelligence” was used to describe small concepts of computer science. But today, it has flourished in all business sectors providing unlimited opportunities to departments across organizations, irrespective of their scale or size. It is not just the media hype that has allowed AI to gain such a huge level of popularity. Many enterprises have invested their money in implementing the AI techniques in their businesses.
According to a recent survey, AI market will have an estimated growth up to $47 billion or more by 2020. This clearly denotes that companies are finding AI highly effective for their future. Teams like sales, marketing, operations, HR, finance, and production are waking up to the incredible potential heralded by Artificial Intelligence.
The techniques enabled by AI are taking workplace productivity to a whole new level of excellence. From customer interaction and security to management, AI techniques are progressing all aspects of a workplace.
Beyond traditional expectations, AI-enabled techniques are helping in problem-solving, decision making, data analytics and many other aspects. Here are the top techniques that are helping companies evolve their workplace.
Machine learning systems are helping companies create better programs with tool-kits and data availability. Algorithms provided to these systems allow them to understand data and learn about the process.
This way, the systems evolve in terms of application performance, which allows the enterprises to manage processes without any threat of mistakes or time wastage. Machine learning is ten times better than traditional computing methods, which makes it effective for the productivity enhancement in any company.
Currently, these techniques are being used by various well-known companies such as Google, Amazon, Microsoft, H2O, SAS, and others.
Conversational flow has always been one of the biggest parameters of productivity for any workplace. The communication between the employees and the interactions between the company and the customers decide the conversation flow for an enterprise. This what you know as ‘customer support’ or ‘customer service’.
AI has offered the technology to produce natural language with the available data. The technique involves the production of text by using the computer information or data. However, the whole process is conducted by a machine. This technique is allowing companies to create intelligent chatbots and offering high-quality customer interaction on a regular basis.
But that is not all. The NLP techniques are also used in gathering intelligence insights for any business. This is something that businesses have been struggling for a long time. The NLP techniques make business insights much simpler to understand by summarizing them in a natural language. As a result, the report generation process becomes much more convenient for authorities.
Virtual representatives are probably the most popular AI-enabled technique in market these days. With advanced chatbots and systems are becoming a productive tool to improve customer service.
These virtual representatives leverage the information fed in the form of algorithms and transform them into dialogues. Including Microsoft, Apple and Google, there are hundreds of companies using virtual representatives all over the world.
The decision-making process is also going under a huge evolution with AI. The machines are helping companies manage their business better with automated decision capacity. It all starts with the initial training provided to the AI systems with the insertion of logic and rules.
Then, regular maintenance and incremental data updates enable the AI to improve its performance by learning the data and using it to make the right decisions on a repeated basis. Eventually, the AI becomes advanced enough to present effective solutions and decisions depending on the analytics.
Though not very popular as virtual representatives, this technique has gained a huge importance in business management processes.
AI is removing the risk of errors from the production. The intelligent robots are being used in production processes to make tasks more efficient.
The companies are now able to reduce the production time without compromising the quality in any manner. The low risk of errors or failures allows robots to complete the task faster.
Natural Language Processing helps in finding the sentiments behind the interactions. Now, with machine learning and AI, NLP is being used in customer interactions too. The AI systems leverage NLP to understand the meaning of a sentence and answer accordingly.
Providing assistance to the employees, clients and customers have become much easier with this technique. Various businesses are using applications to improve their customer relations without having to invest unnecessary manual workforce.
AI presents better opportunities to improve core productivity criteria in a workplace. Hiring talented employees, managing office functions, training staff members, and many other workplace aspects start getting better results with the implementation of AI.
Companies invest a huge amount of revenue in sourcing talent and augmenting the HR function. The candidate selection and assessment is not at all an easy task. But it becomes easier and accurate at the same time with the implementation of AI techniques.
There are various human resource companies currently leveraging AI to detect the best candidates for companies. This allows companies to have better outcomes with a lesser amount of money invested in finding talented professionals.
With the AI enabled techniques such as Natural Language Generation, analytic management, and automated decision making, companies can improve their big data management capacities.
Currently, the sectors such as banking, finance, healthcare, and others are leveraging these kinds of AI to manage and measure big data in their workplace. The AI conducts deep data analysis to provide reports, decisions, and predictions in a very short span of time.
Even the tiniest details become visible with such analysis. As a result, the businesses get to make authoritative and data-backed decisions without feeling concerned in any manner.
In the sectors such as life insurance, loans, and law firms, AI is becoming popular to find fraudulent behavior. The advanced systems inspect all the available data and find connections between them to present fraud related threats. This reduces the time required for investigations for the companies, which allows them to complete more projects accurately.
NLP and other AI techniques make staff training less complicated and quicker at the same time. The algorithms provided to the AI systems make the training toolkits packed with all the information required. The trainees get complete assistance from the systems, which keeps the training procedure on the right track.
As a result, trainees complete their training faster and learn valuable skills to perform their job. Such AI technologies are helping in IT, finance, automobile, aerospace, and others to train staff for their complicated jobs.
AI is offering limitless opportunities for businesses. Adopting the right AI-enabled technique can lead your business to boost productivity. However, it all comes down to the business strategy and objectives you are trying to accomplish with AI.
First of all, you need to clear your mind about what you want with AI. Define your current and future business goals. Your data management, security, employee training and other goals should come to mind. With that, you can define actual AI goals for your company. Along with that, you can include your desires related to customer service, production quality, meeting efficiency, information accumulation and other specific needs too.
When you have defined your AI goals, look for reliable resources that can offer quality and reliable solutions. You can divide AI adoption into different parts. There is no need to get it all at once. Step-by-step add better AI functions and let the company adjust to the technology.
This is a more logical and effective way to adapt AI to your business and enhance productivity. AI is getting better and better every year. So, the future is going to present much incredible productivity opportunities for sure. All you need to do is keep preparing yourself to beat the competition in your industry.