Updated on February 07, 2024
- 8 min
Benefits of Artificial Intelligence in Society
Since the release of ChatGPT on November 30, 2022, we have seen an explosion of interest in artificial intelligence. AI has changed nearly every industry, and looking at the benefits can help to better understand where we might be headed in the future. Most experts believe AI will only become more pervasive because it helps us to automatically handle things that would take lots of time doing manually. AI is projected to grow to a market value of $2 trillion by 2030, according to Next Move Strategy Consulting. Currently, the AI industry has a total market value of $100 billion.
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Improving Your Business Performance
Generative AI has already boosted employee performance by as much as 66%, according to 3 different case studies. Businesses found that customer service agents could handle 13.8% more customer inquiries per hour. Meanwhile, the business professionals that used AI could write 59% more documents per hour. Developers could code 126% more projects than what they could in the past. We highlight this to show you the massive impact that AI will have on our productivity in the future.
The more complex tasks, such as coding, tended to offer the most advantages, but everyone could gain from the use of AI. Along with business performance being boosted and productivity being important, AI has helped to boost the output quality. Many found that what it created was better than those who didn’t use AI. For example, the service agents who used AI had a 1.3% better quality output than without it.
How AI Has Impacted Jobs - Negative Impact?
One of the biggest concerns of AI comes from how this increasing use of AI in society will take all our jobs, and it’s a legitimate concern because it replaces the need for certain workers. Some say that up to 300 million jobs around the world could face this impact. What we’ve seen so far, in many cases, is that instead of taking the job, AI has helped to boost the productivity of employees. We can now do more with less. The human will hopefully continue to remain an essential part of the use of AI. For example, we still need humans who can run the AI because without the careful thinking of a human, AI power is limited.
Some believe that the higher productivity from people could lead to an increase in wages. Goldman Sachs estimates that human productivity will continue to grow 1.5% per year because of this new intelligence technology.
Eliminating the Hassle on the Job
Most workers will tell you about the annoying hassles on the job. One example of it would be email. You need to keep up with email, and it almost becomes a full time job because even if you manage to stay ahead for a while, it still requires ongoing maintenance. You still need to respond to colleagues and customers in a timely fashion.
In the past, the average person would spend 11 hours on email every week. That’s a lot of time that you could spend on more important tasks. Thanks to the emergence of AI email assistants, you no longer need to spend as much time watching your emails. Conservatively, you could probably cut the time spent by 50%. It can help you to write perfectly composed emails that will look professional and improve your brand image.
If you’re looking for a software able to do this type of work, try AImReply. This AI email assistant lacks for nothing when it comes to helping customers to manage their inbox. You can personalize the tone and style to help it fit with your brand image. Just prompt the software in the direction that you want it to go, and it will create an email for you that you can send out in seconds. The software analyzes incoming emails for making the appropriate response to them. If you didn’t like the response that was given, just click rephrase or use the feature of typing in your specific requirements to help the AI learn to better serve your needs.
Using AI for Risky Situations
AI has proven a huge advantage when it comes to going into risky settings. For example, in the healthcare environment, the AI can process and evaluate data much faster than any human alive. The AI examines vast troves of data from incidents to quickly arrive at a smart decision. In a life or death scenario, this can save lives. Other examples of where you could use it include defusing bombs, exploring Mars, and mining oil and coal. Now, there is a danger that the AI could give you false information or make a wrong judgment call that costs a life. Unfortunately, this reality exists with doctors making decisions as well.
One of the ways that they can reduce that risk is with a medical doctor overseeing the AI to think about the best decision to ensure that it makes sense.
Reducing Human Error
Human error can lead to massive inefficiencies in business that can cost them tens of thousands of dollars every year. In worst case scenarios, businesses lost millions of dollars in a year. Managers need to always search for methods that they can use to reduce the amount of errors on the job. The right systems, such as using AI, can help you to eliminate some of the errors. AI’s use in writing, for example, eliminates many of the grammar and spelling mistakes.
Did you know that 89.3% of native speakers make spelling errors, according to a study from Research Gate? Making spelling or grammar errors can quickly damage your credibility as a business, but thanks to tools like AImReply, it eliminates the chances that you might accidentally spell something wrong or structure it incorrectly. The software creates perfectly composed emails in seconds that you can use to make your business more efficient.
AI is able to reduce errors because it can analyze millions of data points to arrive at smarter conclusions and avoid the same mistakes through machine learning. It does this through looking at past errors and using this data from the past to predict future ones. At the same time, AI generates things in a fraction of the time that it takes a person to do.
One example of this is the use of chatbots in customer services. Unlike humans, AI can help people 24/7. They can perform tasks that will help your customers to resolve their problems quickly. No one wants to sit on hold for 45 minutes waiting to get their issue resolved—not even customer service agents while off the job. When you use AI in conjunction with people, the software can resolve problems more quickly to move on to the next person.
Some worry that AI could eventually replace customer service jobs, which is a legitimate concern. In particular, the low-level customer service jobs could be at risk. While it may not replace all such jobs, it will reduce the number of people needed there. Looking at this from an efficiency point of view, people will need to wait on hold less because the AI chatbots can handle as many people as needed at one time. Actual workers simply can’t perform that same level of service. It will be transformative in the customer service industry, but we will see its impact in many sectors.
AI will have a huge benefit in the work environment, but it smartly needs regulation to avoid the negative impacts that it might have on our society. The EU passed the world’s first comprehensive AI law known as AI Act that will help to ensure the AI benefits to society while reducing the risks.
AImReply is one tool that you can try for free to see how it can assist you. Write the perfect emails to your colleagues and customers in a fraction of the time that it took before. You will see a huge time savings, but at the same time, you will notice how it makes your business more effective. If your job has you out on the move, you can take it with you using the mobile version, which lets you respond to emails on the go, adding to the maximum level of convenience.
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