However, it is extremely important that the forces that have propelled the economy so far have ceased to work in the modern world. Investing in capital and human resources is no longer as efficient as it used to be.
However, this is only part of reality. Artificial intelligence (AI) has infiltrated manufacturing forever and offers new ways to grow businesses. It changes the way we work today and puts their people at the center of company development. We investigated that AI could double annual economic growth by 2035, contributing to the evolution of working methods and building new relationships between humans and machines. We predict that artificial intelligence will increase the efficiency of enterprises by up to 40% and enable employees to use their time more efficiently.
Advanced algorithms help companies improve business performance
Companies investing in artificial intelligence (AI) and human-machine interaction can increase their revenues by more than a third, and employment – by 10% by 2022, experts estimate. Most managers are aware of these opportunities, but only 3% plan to significantly increase their investment in employee retraining over the next three years. Until now, automation has involved replacing humans with machines when performing repetitive tasks, but it will soon expand. Machines learn to recognize patterns, anticipate needs, identify anomalies, and alert employees to potential problems. Artificial intelligence allows you to automate the processing of information, which significantly speeds up decision-making processes and, thus, improves the performance of the entire organization. It also saves employees from tedious, repetitive tasks such as reporting.
Artificial intelligence, combined with deep learning, also allows you to explore and automatically categorize text or images. This allows computers, for example, to detect patterns in complaints sent by customers and decide whether to send them to the appropriate department, which significantly reduces response times and allows for faster review of the application. This support is of great help in times when enterprises are dealing with a growing volume of data. We are projected to produce over 163 zettabytes by 2025 (a zettabyte is a trillion gigabytes). Even the best specialist cannot process so much information. Moreover, these data are often scattered and vary greatly in both form and content.
The current capabilities of AI-powered service solutions are the successful recognition of objects such as cars, airplanes, or the degree of color intensity, which are responsible, for example, for planting fields with different types of crops, which makes farming easier. Such technologies even help insurers estimate losses more quickly after a flood or hurricane.
Another industry that uses GIS (Geographic Information Systems) and artificial intelligence solutions is energy, which can determine the degree of sunlight in specific areas in terms of building solar farms or perform network inventory activities faster and more accurately.
Effective implementation and development of artificial intelligence in business – how?
- Prepare the next generations of employees to work with artificial intelligence technologies.
- Synergy of artificial and human intelligence will enhance the role of the employee in the development of the company.
- Support the implementation of rules that allow the use of artificial intelligence. Regularly updated and adapted to changing conditions legal acts can reduce the gap between the pace of technological development and the pace of legislative work.
- Be mindful of ethics when applying artificial intelligence. The ethical debate must take into account realistic standards and best practices in the design and use of intelligent machines.
- Pay attention to the effect of redeployment of responsibilities. Legislators need to focus on the measurable benefits of AI. It is important to note that they must also anticipate potential crises associated with its implementation – this is the only way to counter them.
ITizzi Software Development Company (Kyiv, Odesa, Lviv, Vinnytsia – Ukraine) has five key areas available for ordering and implementation for automating business with artificial intelligence – the basis for the development of other technologies and applications is machine learning: image recognition and processing technologies, technologies language processing, virtual assistants, autonomous robots
and machine learning.
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