Updated on October 04, 2023
- 7 min
Artificial Intelligence in the Business world
Part of what’s propelling artificial intelligence forward is the use of the technology across many different business sectors on a global scale. It’s safe to say that business owners are waking up to the benefits AI has to offer. AI business tools are on the rise, and there are more options than many people can keep up with. That’s why education on artificial intelligence is so important. Once the general public gets over the initial learning curve, AI will be full steam ahead in the business world. Many organizations are adopting the technology to their internal systems to make improvements across the board. As we speak, AI is transforming how many traditional business processes are handled. This comes with some inherent trials and errors, but the benefits are proving to be abundant in most cases. Keep reading through our guide for a detailed look at the impact of artificial intelligence on business.
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Right now, many people associate AI as a tool that you can only use in a digital environment, and this isn't the case. AI for business is rapidly expanding into the physical world, benefiting business owners, employees, and their customers.
With a focus on benefiting essentially every aspect of our daily lives, AI is making things a little easier for everyone involved. At this time, roughly 50% of business owners make use of AI to manage cybersecurity and fraud measures.
It’s important to understand that AI has already found its way into the corporate world. The difference is the pace of the technology’s developments and its possibilities moving forward. Although the use of business AI comes with its fair share of concerns, many organizations are full steam ahead in working with the technology.
The efficiencies and benefits it offers are too effective to ignore, and the world is currently going through an exploratory era with the tech. With so many different known applications in business, we’re going to focus on areas that are seeing the most progress with AI.
Use Cases for AI in Businesses
Although many companies are testing artificial intelligence in various ways, a few are already proving to be go-to solutions. Customer service seems to be the first step for many companies, as AI can offer many simple and easy integrations. Not only is it relatively simple to set up, but the increase in customer service quality is substantial.
Customers like to navigate the help AI can offer, and it makes the job of customer support agents a bit more flexible. Of course, AI customer support tools aren’t 100% effective, but they’re far better than anything we’ve seen in this area so far. Roughly 56% of organizations use AI to help manage their customer service needs.
Nevertheless, this is just one example of many use cases for AI in business. Keep reading below to get a look at how AI for businesses can benefit everyone involved.
Cybersecurity and fraud
It’s reported that over 50% of businesses utilize AI to help manage their needs surrounding cybersecurity and fraud. Simply put, AI can deliver an efficiency and accuracy that humans aren’t able to dish out on a consistent basis.
Although many people don't want to admit it, human error is a bigger problem than many understand. This can be mitigated, if not entirely eliminated, with the help of artificial intelligence in businesses. With cyber-attacks on the rise, innovative AI countermeasures can help protect organizations and their customers.
Assistants in the business world aren’t uncommon, but not everyone has the funds or means to hire one of their own. This is where virtual assistants have proven to be extremely helpful. AI is personable enough to handle many different tasks for an individual. You can see how this would be helpful in a professional environment.
Whether it’s managing incoming and outgoing emails or updating to-do lists and events, virtual assistants driven by AI can offer quite a lot. The most recent available data highlights that 47% of business owners utilize AI virtual assistants on a regular basis. You can expect this number to rise as virtual assistant technology reaches new developments.
It may seem like a simple task, but inventory management is something that inevitably comes with some efficiency issues. There’s plenty of room for improvement in inventory management, and it’s the perfect job for artificial intelligence.
Right now, around 40% of surveyed organizations are using AI to help with inventory management. Business owners are waking up to how AI can help, and it’s proving to be much more accurate than humans. This is especially true when it comes to keeping live inventory counts that match sales numbers.
Among these few examples of AI in the business world, there are many other use cases that are actively being explored. Some have been discovered to be more effective than others, but AI is going through its wild west era. There’s going to be a lot of testing in the corporate environment when it comes to various AI integrations.
Considerations in AI for Businesses
As exciting as AI can be, there are quite a few considerations that business owners need to understand about implementing the technology. The hand-off of many traditional methods to artificial intelligence will be a slow-burning process. It’ll take a while before everything is streamlined, but it’s a process that’s underway as we speak.
A few primary concerns surrounding AI in the workplace include:
- Sustainability of new AI jobs
- The elimination of traditional jobs
- Years of adjustment to an entirely new way of living with AI
- AI’s inability to handle certain specialized skills
- The long-term impact of AI on the global job market
There’s no point in focusing on doom and gloom with AI, but it is vital to look at the possibilities from all angles. Overall, we’re just scratching the surface with AI tools in the business world.
Many employers are running incremental tests to see what works best for them. For the most part, organizations are interested in making internal processes more efficient, which is something the simplest of AI tools can help with.
The Bottom Line
Even with the inevitable ups and downs of AI’s progression, the relevance of technology can’t be stopped. Many business owners see the positive potential behind the technology and are actively putting it to use in a variety of ways.
One benefit of AI that organizations are catching onto relates to emailing. Managing incoming and outgoing emails is relatively easy for AI, and this is exactly why AImReply was created. Employees are constantly distracted from more important tasks with hours of the work day going toward managing emails.
Utilizing AImReply offers access to a range of features that can help employees manage their emails in every way. From detailed insights on responses, personalized verbiage, and unmatched efficiency, AImReply is a tool that any business can make use of.
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