4 Ways Artificial Intelligence Will Impact Your Business in the Next Decade
- 29 Oct, 2019
Computer scientists are constantly expanding the possibilities of artificial intelligence. You are already seeing changes in the way you interact with technology such as the auto-suggestions on many search browsers and email composition programs. Businesses that want to stay competitive will have to embrace some level of AI technology. Very soon, artificial intelligence will impact almost every part of the life of your business.
The Planning Process
One of the most important things that AI can do is sift through large amounts of data. Combined with a data lake-style repository, AI can do deep analytics much faster than a human employee. This will allow decision-makers to have more access to current and historical trends, important tools for making predictions about the future. DataFloq describes how businesses will be able to make decisions faster and plan with greater confidence.
AI will also change the way customers and businesses interact. With an AI program tracking the history of a customer’s interactions, it can develop a strategic plan of contact. The software will learn which customers respond to which sorts of specials and advertising. This allows the company to streamline its marketing, making small batches of strategic contacts rather than always contacting the full customer list.
The Hiring Process
One of the challenges of hiring is sifting through a large number of job applicants. In general, an HR employee only looks at resumes for a short time in the initial cut. AI can go through the stack of resumes faster, quickly seeking out only those with particular skills and weeding out those with red flags. The Hire Talent explains that AI can be used to help match candidates to the personality profile you're seeking. It can interpret personality style based on the frequency and use of certain words in a resume.
BMC suggests that AI is probably already affecting the way your office runs. You may have programmable thermostats and light switches that adapt to your hours of operation. AI technology will also be incorporated into your supply chain. For example, it will be able to calculate how much paper your business goes through in a given week and place orders so that you are never short. It will also be able to tell you when there are inconsistencies in supply use, a sign of changing trends or mismanagement.
In small ways, artificial intelligence is already a part of your business. In time, it will change the way your business operates and the skills your employees need. Embracing AI technology will keep you on the cutting edge of a competitive market.
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