The Impact Of Artificial Intelligence On Businesses

The world of AI is growing and changing, becoming more prominent in the workforce. This is an obstacle many companies need to overcome in order to boost their productivity, workflow, and competitive edge.

3 minutes | July 26, 2022

What Is Artificial Intelligence? 

Over the last few years, artificial intelligence (AI) has become increasingly common as its perceptions are slowly moving away from the dystopian associations they used to have. Nowadays, AI can be found in many homes in the form of smart devices such as smart locks, TVs and home devices such as Alexa or Google Home. Not only are people becoming more accepting of the technology at home, but their workplaces are also incorporating more intelligent technology to streamline business processes and make work more efficient. 

 

The Benefits of AI For Businesses

Data Handling With Machine Learning

Machine learning is often used to capture and analyse large amounts of data. In businesses, it can detect spam, complete tedious data entry, provide recommendations and more. This makes work simpler and easier for employees who typically spend hours combing through hundreds of spreadsheet data entries. 

Increased Cybersecurity 

Artificial Intelligence can act as an extra set of eyes over your security protocols and can recognise cyber attacks and other cyber threats by monitoring data inputs through your system. It can then backtrack through the data and find the source of the attack, preventing other cybersecurity attacks from occurring in the future. 

Streamlined Customer Relationship Management

You can achieve great results by applying AI technology to typical customer relationship management software. Usual customer service systems can be transformed into self-updating, auto-correcting systems that stay on top of and manage client relations for you. 

Completing Data Research 

With the ability to quickly collect and analyse large amounts of data, AI can provide your business with relevant information regarding customers’ search behaviours and interests to provide them with a customised, more enjoyable experience. 

The Future Of AI

In the future, AI could also be used to help improve customer experience in key industries such as marketing, business, IT or even hospitality. For example, efforts towards enabling AI to customise the physical environment are beginning to be discussed, with AI potentially working to change the music in a restaurant based on customer preferences or even eventually changing the wallpaper to suit customers in a hospitality setting. 

 

Based on current trends, AI will likely be widely implemented in businesses to simplify and streamline mundane tasks to increase efficiency and give employees more time to complete other essential jobs. Concerns over whether or not AI will replace jobs are growing, however experts in the field have commented that AI will not replace jobs, only make certain ones easier and less tedious. 

 

Overall, AI can help your business handle repetitive tasks quickly, manage time easily, run 24/7, and reduce errors in your work. MVP is excited to watch AI develop and grow to become more integrated into the workforce and change businesses for the better. 

Do You Have Questions? 

Artificial Intelligence has great potential and will continue to grow over the coming years. If you’d like to know more about AI or how MVP can support your business, contact our friendly team today!