Founder of Hence, Repeat, RCCL, Mesmerise and Marsfields.
The changes within the digital and technology sectors are most certainly becoming more and more forefronted in the way that people work all around the world. With the pandemic highlighting how the world is more accessible than ever, businesses are turning to artificial intelligence to relay their needs and expectations. As most people interact with artificial intelligence in one form or another within their daily lives, it was only a matter of time before it became an expectation in modern workplaces.
Artificial Intelligence is a sector of computer science that can mimic human intelligence. It is primary to technology that aims to simulate human functions and intelligent systems. Artificial Intelligence does not function from programming as such, but algorithms and something called a deep neural network. This is essentially a type of network which layers the functionality of artificial intelligence. An example of artificial intelligence that we may encounter in our daily lives is our smart assistants, like Siri and Alexa.
Although artificial intelligence can mimic certain human behaviors, it is still far from being sentient like a human being or displaying the morality that comes with human intelligence. So no worrying about robots taking over the world just yet! Artificial intelligence is one of the biggest development in tech in the last decade alone and is only going to continue to develop, including its application in the business world.
(Image Source: Statista)
Machine Learning is probably one of the most common types of artificial intelligence that is used within business today. Its function often centers around processing large amounts of data efficiently and quickly. Machine learning, in particular, is more of a subset of artificial intelligence in that it is programmed to generate results based on commands given of the data input. For example, if you had a database of all the athletes in the world, but you wanted to only search for basketball players, this would be machine learning. Through use and trial and error, machine learning can learn over time, and predict a user’s needs.
Take the example of manufacturing in a manufacturing plant, the machinery used will often be fed a stream of data regarding the functionality of the machine, which would then be displayed to the user of the machine in a digestible way. The data patterns within the machine are quickly analyzed in a way that a human wouldn’t be able to do as efficiently. This can be applied for prevention before something goes wrong with the machine, raise any errors that the machine may be experiencing, and allow for them to be rectified.
Rather than being an exact replica of human intelligence, most artificial intelligence is used as more of a supporting tool. As the algorithms ensure that data is processed quickly, artificial intelligence is a trusty aid for us and can help streamline our decision-making processes. Amir Hussain, founder and CEO of machine learning company SparkCognition outlined that artificial intelligence has the ability to factor in a wider context when decision making compared to other forms of programmed software. This, in turn, makes artificial intelligence extremely valuable when it comes to being used in business.
Not only is artificial intelligence prominent and useful in terms of software and data function, but also with customer relationships or customer relationship management. The software allows customer relationship management platforms to self-update, auto-correct, and keep customer data secure. This will allow a streamlined service between a business and a consumer or customer.
There is a concern that the use of artificial intelligence will replace the need for human presence at all within certain roles, but the goal for implementing artificial intelligence within the workplace is to identify the shortcomings of humans and implement artificial intelligence there rather than replace workers. By automating timely tasks, such as digital administration or data sorting, artificial intelligence frees up workers to contribute to the business in other ways and result in a more productive and efficient work environment. Allowing staff to delve into more creative strategy and contribute more to a business this way means that there is more scope for a business to advance and in turn generate more revenue.
The use of artificial intelligence within business and the way that people communicate, has already started to be implemented, and the pandemic has shown this can streamline the communicative needs of a business or organization. By automating certain tasks, business owners will streamline their business models and allow workers to thrive in different ways for the company. The accuracy and efficiency that artificial intelligence brings will also ensure fewer mistakes and decrease the time spent rectifying them, which will result in a more streamlined business model and company.