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How Do Companies Use And Benefit From AI?


May 2020
2740 Views 4 Minute Read
how ai help businesses
Hollywood was already into artificial intelligence more than 10 years ago. At the time, films such as "I, Robot" with Will Smith or "AI Artificial Intelligence" with Haley Joel Osment were described as futuristic. However, today's world is no longer that far from these finely drawn scenarios of the Hollywood industry. Artificial intelligence has already established itself as a central trend in the global technology industry in recent years. No wonder, because it is able to sustainably improve and transform both internal and external company processes in various industries. This article explains whether and how this is already used by app builders and how they benefit from it.
Where and to what extent are AI used in everyday business?
ai in businesses
AI is the abbreviation for artificial intelligence. Both terms are very common today and known to almost everyone. Everyone is talking about AI, and its range of applications is very diverse. There is a particular need for the following applications:
- Data analysis for decision-making processes,
- Process automation of business processes,
- Chatbots in the service and
- Language processes.
In addition, AI is increasingly found as a component of products and services. An example of this is accounting, where artificial intelligence is now used. Accounting software that enables automated receipt recognition through AI is now available. In general, AI is a key and essential component in companies that are striving for new digital business models. However, the greatest need is in data analysis and process automation. AI is already being used the most in these areas.
Companies that already deal intensively with artificial intelligence today are predominantly service providers. Industry ranks second and trade third. According to a survey, companies that have more than 500 employees or generate sales of up to one billion dollars are particularly affinity to AI. For high-turnover companies, it is, of course, easier to make investments in this modern area. Nevertheless, small companies should also consider the opportunities of AI. Otherwise, difficulties could arise in the future because the competitiveness would then no longer exist.
Basically, the use of artificial intelligence is still heavily dependent on the respective industry. AI, for example, is in high demand in the following areas and serve as high-quality solution strategies for networking and process automation:
- Insurance industry
- Financial sector
- Healthcare
How do companies benefit from artificial intelligence?
how do companies benefit from ai
Businesses can benefit from AI in a number of ways. The following 5 advantages are very attractive to companies:
* Sales increase: AI processes large amounts of information and thus deliver more precise insights. This leads to increased sales.
* Increased motivation and productivity: AI relieves routine jobs and applications to relieve the strain on employees in the company. This gives employees more time to do other tasks, making the company more productive overall.
* Error reduction: who is already error-free? The AI come very close because, unlike the employee, it doesn't make mistakes that are based on human error.
* Customer service: As mentioned earlier, AI helps the company collect data. These are also specific or non-specific customer problems or experiences with the purchase. This not only enables a better understanding of the end consumer to be gained but can also be supported more efficiently.
* Decision-making speed: Finally, artificial intelligence helps to make faster decisions, which always gives companies a competitive advantage.
What is slowing down the use of AI?
However, there are not only supporters who believe that artificial intelligence will see great growth in the next few years. Because, as the saying goes: Where there is light, there is also shadow. There are many negative voices on the subject. Two arguments are particularly striking. For one thing, many companies mistrust AI. The biggest concerns are gaps in data protection and the quality of the data supplied.
On the other hand, the lack of skilled workers is still slowing down the use of AI in many companies. Not every company has the right employees who have the right skills to use and maintain AI. This is due to the fact that it is still a relatively new and modern trend topic. AI-interested and affine professionals are currently in academic training.
The future: an outlook
The previous section makes it clear that the use of artificial intelligence is not just an evolution of robots, but will also bring about a fundamental change in the world of work in the future. Since specialist personnel in this area are already being searched for desperately, all those who study courses in this direction have a good chance of finding employment in a few years.
AI developers will become a must-have for many companies in the future because without them, the new digital processes in business will not work. Because, even though artificial intelligence works without assistance, it also has to be serviced from time to time. Specialists are absolutely necessary for this. At the same time, the development of AI is also progressing, so that the merging of artificial intelligence and awareness could also be a conceivable future scenario.
Companies that still defend themselves against the use and investment in AI could miss the technological connection in the future. They lose their competitiveness in the long run. AI brings various applications with them that can significantly increase the efficiency of a company. However, not all AI app developers near me see this as relevant.
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Harnil Oza is the CEO & Founder of Hyperlink InfoSystem. With a passion for technology and an immaculate drive for entrepreneurship, Harnil has propelled Hyperlink InfoSystem to become a global pioneer in the world of innovative IT solutions. His exceptional leadership has inspired a multiverse of tech enthusiasts and also enabled thriving business expansion. His vision has helped the company achieve widespread respect for its remarkable track record of delivering beautifully constructed mobile apps, websites, and other products using every emerging technology. Outside his duties at Hyperlink InfoSystem, Harnil has earned a reputation for his conceptual leadership and initiatives in the tech industry. He is driven to impart expertise and insights to the forthcoming cohort of tech innovators. Harnil continues to champion growth, quality, and client satisfaction by fostering innovation and collaboration.

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