Artificial Intelligence (AI) has been around as a concept and idea for a long time now – longer than you might actually think (the first successful AI program was credited to Christopher Strachey in 1951), but recent advancements in technology and the way in which people work, have seen the popularity of AI tools and programs rapidly increasing of late and has helped in reshaping the business landscape.
Cautious businesses and executives find themselves looking at AI tools and software, and asking themselves whether it’s worth the investment yet, or if they’re likely to be caught in the latest digital fad – and this caution isn’t unwarranted, there have been multiple instances over the last few decades where early adoption of technology hasn’t gone the way it was predicted, and investors have been left out of pocket.
But unlike other occasions, where there was often a single proprietary technology involved, AI tools are being developed across a wide range of platforms, and for different services and applications, ultimately reshaping the business landscape.
There has, naturally, been some disagreement on the implementation or level of provision that these tools are being used for, and workers are (understandably) nervous that their livelihoods could be at risk due to streamlined processes and computer-generated operations.
Business owners and operators need to look carefully at the tools available on the market, how well they perform, what the associated costs and outlays are involved, and whether they can be successfully used to improve operations in the varying parts of the process where they’re being called for.
What Is AI Being Used for In Business?
Behind the scenes, in the ‘big data’ area, there are a lot of programs which have been used to optimise and automate processes, and AI is leading on from this – with predictive actions, the ability to make real-time changes, and adjustments. This natural progression is allowing for greater amounts of data to be collected, reviewed, and used to make business critical decisions, and take advantage of opportunities which would traditionally only have a very small window to make use of.
In marketing and sales AI is being used as a business tool to reduce the amount of time staff is spending on repetitive tasks, and to improve the overall customer experience. It started out with small interactions, such as bots on social media – where customers could message a page with a question, and the tool would provide them with a basic, pre-loaded answer. Over time, this has become more conversational, and leading customers through queries and to answers, only involving a member of staff if the query is beyond what is available.
The focus and drive in this element of AI usage, is to reduce mistakes, improve coverage, and allow trained staff to spend their time on queries and areas that require their expertise.
A further tool that has seen recent growth, is using AI for research, content, and content creation. This is still at a stage where it may or may not be cost effective – especially with some tools that focus on the inclusion of keywords and phrases, but don’t balance this with readability – and although AI written content may be quickly produced, there have been a number of users reporting issues with factual incorrectness, and overuse of set terms, making their content read as being obviously machine written.
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What is the Future of AI in Business?
As technology continues to grow, and the need for instant service pushes even further with new capabilities, companies are going to want to make the most of their data, their staff, and their ability to attract customers.
Naturally, this means investing more in future-proof processes, and being keenly aware of what is a fad, and what is a trend. At present, it is safe to say that AI does not appear to be a trend, and as the technology develops, and is used for more tasks and allows skilled workers to focus on the areas which need their attention, this is going to allow businesses to grow, do more, and be more available to their stakeholders.
Whether a company can fully capitalise on these abilities, and whether they have the internal structure to handle these changes is a different conversation, and one that would need to take place after a very clear evaluation of the business, the direction its headed in, and how much it’s willing to spend on making its self a needed fixture for the customers of the future. AI is reshaping the business landscape so as an business leader you don’t wan to be left behind.