Artificia lintelligence still appears like something out of a science fiction program from the distant future. To many people, AI is what builds the catastrophic network of murderous robots shown in Terminator movies—it simply doesn't register as a notion with real-world implications.
While robot death squads have not yet
materialized, early implementation of AI is already present in our daily
lives. Aside from averting worst-case sci-fi situations, there is good news: AI
is making inroads towards creating a better society for everyone.
According to the 2020 Global AI
Survey, 22 percent of organizations utilizing artificial intelligence
services indicated the technology accounted for more than 5% of their 2019
earnings before interest and taxes.
Moreover, money generated by AI has
risen year after year in the majority of corporate operations that employ AI
technologies. Researchers discovered that the companies making the most money
from AI expected to expand their artificial
intelligence efforts in reaction to the COVID-19 pandemic.
Six Artificial Intelligence
perks that may surprise you
As with any new or growing technology,
it's easy for us to get caught up in the possible drawbacks. That's a totally
understandable, and perhaps even an instinctive reaction.
After all, most organisms don't
survive unless they're at least a bit wary. Humans, on the other hand, have
come a long way by embracing advancements, improvising, and adapting.
So, how does early use of AI and machine
learning approaches to aid a business? Consider the following six potential
advantages.
Read Also | 8 Reasons Why Machine Learning is a Smart Choice
1. Increase in efficiency and productivity
Efficiency and productivity increase
are two of the most frequently mentioned advantages of integrating artificial intelligence in a business
organization. The technology can complete jobs at a rate and scale that humans simply
cannot.
Simultaneously, by eliminating such
activities from the obligations of human workers, AI enables those individuals
to focus on higher-value tasks that technology cannot perform.
This enables firms to reduce the costs
associated with monotonous, repetitive tasks that technology can accomplish
while utilizing the talent of human capital much more effectively.
2. Conservation of natural resources
AI has the potential to be a major assist
in conservation and environmental activities, from combating climate change to
enhancing recycling systems.
Improving the recycling business isn't
the only way machine learning is benefiting the environment. Columbia
University has discovered various ways AI is influencing climate change,
including administering renewable energy for optimal efficiency, projecting
energy consumption in large cities, and improving agricultural techniques to
make them more effective and ecologically sound.
Artificial
Intelligence is also helping to safeguard
environments and animals all across the world.
Global Fishing Watch, a platform
designed by Google, utilizes machine learning technology and Google Earth
to detect fishing trawlers and safeguard vulnerable marine environments, and a
McKinsey Global Institute analysis reveals that AI can be used to detect and
find poachers. Yes, you read that right.
Read Also | How Robotic Process Automation is a game-changer
3. Increased business speed
According to Karen Panetta, a fellow
with the professional and technical organization IEEE and Tufts University
professor of electrical and computer engineering, AI will help companies move
even faster in this digital age. AI facilitates faster development cycles and
reduces the time it takes to get from design to commercialization, resulting in
a greater, and more rapid, ROI on development resources.
4. Natural disaster forecasting
Tornadoes, hurricanes, floods, and
other natural catastrophes can hit quickly, leaving populations with little
time to prepare. Disasters of this magnitude have a massive impact, affecting
millions of people worldwide and necessitating lengthy recovery times.
Although artificial intelligence cannot avoid natural catastrophes, it can
help professionals anticipate when and where disasters may occur with greater
precision, giving people more time to prepare themselves and their families.
Google collaborated with Harvard to
establish a deep learning system that was "significantly more
accurate" than the present model at forecasting the location of seismic
aftershocks, and the company also developed an AI system that provides flood
forecasts to vulnerable areas in India.
5. Improved quality and reduced human error
As per Madhu Bhattacharyya, managing
director and global leader of Protiviti's Enterprise Data and Analytics practice,
organizations may notice a decrease in errors as well as improved adherence to
established standards when they include AI technologies into operations.
When AI and machine learning are
combined with RPA, a technology that automates repetitive, rules-based
operations, the combination not only speeds up processes and lowers errors, but
it can also be taught to improve and take on broader duties.
For example, the employment of AI in
financial reconciliation would produce error-free results, but the same
reconciling handled, even in part, by human staff is prone to errors. According
to Bhattacharyya organizations can maintain quality with Artificial
Intelligence.
Read Also | Microsoft Power Platform: Top 10 Advantages
6. Improved talent management
Artificial Intelligence services are being used by companies to improve many
aspects of people management, from expediting the hiring process to identifying
prejudice in corporate communications.
Independent consultant Katherine
Jones, writing about the expanding use of AI in recruiting, stated that
AI-enabled processes not only save organizational expenses in hiring but also
improve staff efficiency by successfully sourcing, screening, and selecting
top-tier applicants.
Companies are employing chatbots to
give a tailored experience to job hopefuls and mentor staff as natural language
processing capabilities improve.
Moreover, AI techniques are being used
to assess employee sentiment, find and retain high-performing employees, and
decide equitable pay.
Dynamics Business Solutions (DBS) is certified
Microsoft Dynamics partner in UAE, we take pride in our ability to develop and
deploy the right business solution that matches global client’s requirements.
To know more, speak to our expert
at Dubai: +971 4 447 5525 Abu
Dhabi: +971 2 222 2100 or
inbox us your query at info@dynamics.ae OR visit www.dynamics.ae
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