Artificial Intelligence: Your New Best Friend

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