AI Apps That Successfully Help Business Growth

AI Apps That Successfully Help Business Growth

Business leaders all around the world should start discussing how artificial intelligence can help them improve their work instead of crying about AI stealing their jobs. After all artificial intelligence can improve speed, quality and quantity, thus increasing the revenue stream.

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Business leaders all around the world should start discussing how artificial intelligence can help them improve their work instead of crying about AI stealing their jobs. After all artificial intelligence can improve speed, quality and quantity, thus increasing the revenue stream.

Since the middle of the 20th century, the term “artificial intelligence” has been circulating around. What we imply when we use it are computer programs, which successfully do tasks that previously required human touch. And in the last few years, we really begin to understand how beneficial AI might be. Just take into consideration how it can solve problems in the field of law, health care, journalism and many more. Think of the ways it changes our daily life – how we work, how we interact, etc.

There are many factors, which contribute to AI revolution. Processing power is constantly increasing and is now capable of processing large chunks of data much faster. However, it is not only processing power that has changed the game, cloud computing and outsource data storages had put their marks as well. Bandwidth capabilities and mobility make internet access available even in remote areas. Consequently, laborers can easily work with applications and software. In addition, our understandings of how the human brain works help us develop AI that is capable of learning and recognizing voice.

A Deloitte study suggests that in the coming years AI will go mainstream. The study goes even further, predicting three large categories of AI applications – product, process and insight apps. Products applications refer to AI services and products providing benefits to end-customers. A good example is Netflix’s recommendation system.

Process applications are implemented in businesses with the task of automating time and energy-consuming processes. Automation, on the other hand, will give opportunities to workers to pay more attention to important tasks. Think of the automated voices you hear when you call the customer services of any institutions. Insight applications are used to predict or uncover patterns. For example, Intel uses such algorithms to understand customers’ habits and preferences. The acquired information can be helpful when planning marketing strategies for instance. Intel’s expectations are that insight apps can gain up to $20 million a year if used properly.

For sure, AI might be used for much more complex and challenging tasks, but even nowadays we can see the impact it has on our society. After all, AI was created to assist humanity, not destroy it and we must look at the whole picture without any prejudice.

 

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