We all know how the Internet of Things made it possible to turn everyday devices into raw data sources for analysis to create business insight. There have also been witnesses that artificial intelligence (AI) makes analytics more productive and efficient in the workplace as well.
Companies expect that much more data will be generated in the coming years compared to the data generated today.
It is believed that AI is now beginning to enter jobs and corporate organizations, and this change has forced leaders to revisit their business processes and functions. These days, startups are adopting AI technology to reduce workforce, increase work efficiency and save time. AI can generate insights, provide remote and virtual assistance, and analyze unstructured data generated by everyday devices. Experts predict that more than 62 percent of companies will somehow start implementing artificial intelligence applications by the end of 2018, and the main reason for this is the many benefits that AI has provided to companies.
According to a Demand database survey, about 80 percent of decision makers predict that AI will revolutionize marketing by 2020.
AI, along with neural networks, instantly decrypt discrete data and make sure the perfect solution is at your fingertips. The data generated is continuously updated, which also means that machine learning models will be updated at regular intervals. Businesses could access the latest information – breakthrough insights – that can be useful for a rapidly changing business environment. Here are the three most important ways AI uses jobs:
1. Faster decision making with more confidence: What if something went wrong with a manufacturing facility in your industry, what would you fix first? I am sure that most of the employees working in that plant would be ignorant. In such cases, the AI helps the maintenance team decide with certainty what to fix first, because the AI would automate and streamline the decision-making processes for the maintenance team.
2. Access to big data insights: An exciting opportunity after applying AI in your workplace is the ability of AI to recognize and understand patterns in big data that people cannot.
3. Sensitive data protection: AI enables the elimination of human errors which in turn helps to improve the quality of output and strengthen cyber security.
There was a noticeable difference in the roles of employees after the application of AI. More attention is paid to the management and implementation of strategic initiatives, while analytical tools automate and scale data to facilitate better decision-making.
Let’s see how AI improvises the work landscape:
• Creating new technology-related jobs: An Indeed report predicts an increase in demand for workers with artificial intelligence skills in recent years. When there is a shortage of job seekers who can meet that need, it makes the skills more valuable to those who would possess them.
• Using machine learning to reduce busy work: By allowing automation to perform its critical tasks, employees can free up their time for other key tasks. According to a Digital Ocean report, 26 percent of developers use artificial intelligence-based tools in their work processes, and about 81 percent want to educate themselves about automated tools.
• Automation helps prevent workplace injuries: A trainer’s injury injury study predicts that major damage can be reduced by applying workplace automation. The same study also found that in 2016, about 5,190 workers died from workplace injuries. Approximately 14 percent of automation could save lives to about 3,500 a year by the end of 2030. So instead of thinking about how AI takes away jobs, it’s time to consider how many dangerous jobs people won’t need to do in the days to come.
Here are some ways you can improve your business using AI. What are your thoughts on AI? Have you already implemented it in your organization?