Artificial Intelligence: How AI is Changing the Face of Business

Artificial Intelligence: How AI is Changing the Face of Business

Do you remember the first time you went to order or pay at a fast food or casual dining restaurant and found yourself facing a screen instead of an employee? What once felt like a radical change is becoming more and more common as technology and Artificial Intelligence improve. There is no question that AI is changing what business looks like at a record pace, but what is Artificial Intelligence exactly?

Artificial Intelligence is the intelligence, problem solving, or learning ability of machines. For example, any time a program, machine, or computer learns to adjust to your preferences is Artificial Intelligence at work.

Artificial Intelligence is built into many industries outside of IT or electronics. Here are four aspects of business that are affected the most by improvements in AI innovation:

  1. AI Improves Customer Service

By utilizing AI for customer service, businesses and organizations can improve the experiences of their patrons and the response time and quality of complaint resolution. A customized experience—cars that “remember” driver settings and adjust automatically, automated recommendations of items based on previous purchases, for example—will help reduce the number of complaints in the first place. When complaints do arise, automated customer service bots with more responsive problem solving will make 24/7 customer service a reality for many industries.

  1. AI Increases Financial and Data Security

With massive data breaches and account hacks making headlines with greater frequency, there is no question that there is a need for greater data security online and in many businesses. AI is helping businesses protect customer data with facial recognition, automatic fraud detection, online hack protection, and programs designed to crack down on suspicious or hacking activity in real time.

  1. AI Helps Companies Make More Out of Data

Data collection is nothing new. Retail stores have been using customer buying habits to make inventory and display decisions for decades. Recent improvements in AI are allowing companies to analyze data faster than ever. Some examples of ways AI is changing data analysis include helping companies find the best candidates, minimizing hiring bias, finding patterns in data to get better insights, increasing predictive power, and aiding diagnoses.

  1. AI Can Decrease Workplace Risks

Artificial Intelligence, with its ability to problem solve and make real-time adjustments, is making the workplace safer for workers. The right technology can decrease mistakes, provide oversight and precision, keep workers further away from dangerous chemicals and situations, and improve workplace conditions for workers. Although accidents still occur, the human error component is removed with backup oversight from AI. AI can also notice patterns that indicate employees are working in an unsafe manner (from exhaustion, intoxication, or injury).

Artificial Intelligence sometimes brings to mind robot armies from a science fiction film, but AI is a part of our everyday lives already. All indications point to further improvements in AI to streamline business, improve the customer experience, and protect data for individuals, businesses, and governments worldwide.