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Artificial Intelligence (AI) has quickly become a vital tool in business today, as more organizations integrate AI technology into standard enterprise software systems that oversee core processes or use it alone for special use cases.
Recent surveys reveal an increasing trend toward AI experimentation within businesses. EY conducted a poll among 254 technology leaders and 90 percent were actively using chatGPT or Bing Chat platforms as sources for AI technology research, while 80 percent intend on increasing spending this coming year on AI initiatives.
Executives have informed researchers and others of their desire to use AI technologies as part of meeting fast-changing market expectations, increasing efficiency, and productivity, lowering costs and creating competitive advantages.
Many also acknowledge that the development of AI tools makes this technology more approachable to businesses.
As reported by business executives, artificial intelligence is being deployed at their organization primarily for data protection, process automation and customer support - with natural language processing (NLP) taking the lead as far as AI adoption goes.
Executives also reported that AI adoption is increasing beyond initial areas, reaching almost every department within their organizations.
What Are AI-Driven Business Applications?
Artificial intelligence (AI) is already making waves in various business industries; no longer just an idea for tomorrow, AI-powered business applications have quickly become indispensable tools of contemporary companies looking to streamline financial operations, enhance customer experiences or gain insights through analytics.
Read more: 4 Types of AI — How Much Will They Transform Our World?
Here Are 10 Top Applications Of Artificial Intelligence In The Enterprise
1. Innovations, Goods, And Services Powered By AI
Businesses are just beginning to appreciate artificial intelligence's full potential; yet some are already employing this technology to spur innovation and produce novel goods and services.
Artificial Intelligence (AI) has made headlines recently as evidenced by virtual assistants like Amazon Alexa; however, experts point out that AI technology can also help businesses across various sectors create or enhance existing products through AI applications.
CEO of Earley Information Science gave an example of an organization using AI technologies like machine learning to improve its telecoms platform specifically to enhance voice quality for speaker calls while simultaneously preventing participant images from warping on screen.
To accomplish these aims, this business was also using machine learning technologies along with other forms of AI to maximize participant experiences and prevent any warped images appearing on screen.
Info-Tech Research Group described a retailer which utilizes Artificial Intelligence (AI) to generate art pieces on demand and manufacture goods accordingly, working directly with artists who wish to have their designs featured on clothing products.
2. Automating Routine Cognitive Tasks
Businesses have long taken advantage of artificial intelligence (AI) to automate manual tasks like data entry.
More recently, next-generation intelligence such as generative AI is also being employed for cognitive tasks like writing communications or summarizing reports.
An IEEE senior member and AI expert, noted that artificial intelligence (AI) was beginning to tackle some of the menial work, creating potential ripple effects throughout many jobs.
Since much of our daily tasks involve repetition rather than special experience, AI excels at this aspect of work.
3. AI To Elevate Employees
Experts claim artificial intelligence (AI) can assist workers in optimizing their performance by offering advice for tasks which cannot be automated.
Grammarly and similar services using AI to not only detect misspellings in text but also correct grammar and suggest prefered phrasings to enhance writing were mentioned by Kavita Ganesan, an AI adviser, strategist, and founder of Opinosis Analytics Consulting firm.
Others pointed out how generative AI was an invaluable asset to workers, since even people without prior experience can use it to write software code, design logos or create marketing campaigns.
AI applications "allow experts to excel more fully while elevating the abilities of less experienced employees to a more senior position within an organization," explained Mike Mason, chief AI officer for consultancy Thoughtworks.
It acts as an enabler, giving people tools they wouldn't otherwise possess for performing specific tasks or accomplishing goals that otherwise couldn't have been accomplished otherwise.
4. AI As A Creative Force
Artificial intelligence today can produce any composition imaginable - computer code, music scores, poetry stanzas, prose text and visual works of art are just a few examples.
As AI technology analyzes and learns from data given for training purposes, many have raised concerns as to whether AI-generated works constitute derivative works either legally or artistically (or both).
Whatever their response may be, organizations have successfully utilized this form of technology in creating works from various fields of practice.
A co-founder of Xmark Labs and OpenAI researcher, used Moby Dick as inspiration and asked OpenAI "Could you pretend that you were a teenage TikTok influencer and tell me about your search for whale in Captain Ahab-esque terms?," which resulted in an original three-graph story being created for them to test OpenAI with.
5. Using AI To Organize And Retrieve Knowledge
Artificial Intelligence, in particular generative AI, has shown promise for organizations and their employees in terms of accessing and organizing knowledge.
Technology allows employees to easily search through vast quantities of data -- both institutional files and industry-related information -- while simultaneously organizing and condensing it for easier navigation.
Earley cautioned that while AI's potential revolution could be profound, its technology still needs human oversight or review before its widespread deployment.
Artificial Intelligence systems like ChatGPT often make incorrect assumptions and don't always access all required data sets in order to draw comprehensive and accurate conclusions. At the start of 2024, two attorneys who submitted court briefs made with ChatGPT found out that it had falsified some cases that it cited in its briefs.
6. AI For Optimization
Optimizing is another use case of AI which applies across industries and tasks, providing businesses with another avenue to reap its advantages.
AI-powered business applications use algorithms and modeling techniques to turn data into actionable insights on how businesses can optimize various operations and business processes, from labor schedules to production product pricing. AI systems have also proven adept at using data to identify bottlenecks while offering optimal implementation solutions.
CIO of accounting and consulting firm BPM states: "Artificial intelligence (AI) can assist businesses by automating repetitive processes to lower labor costs while increasing accuracy."
7. Increased Output And More Effective Operations
AI at professional services, stated that increased productivity and cost efficiencies are among the primary goals businesses are adopting AI for.
AI can be utilized in an array of tasks that currently rely on human labor; AI has proven capable of either completely or partially fulfilling such tasks faster and with higher volumes than its human counterpart.
8. AI-Based Training And Learning That Is More Efficient
Many organizations are exploring or employing artificial intelligence software in an effort to accelerate learning processes.
Intelligent tools can be utilized to tailor educational plans specifically tailored for workers' experience and knowledge, which allows businesses to implement more successful training initiatives.
9. AI As A Mentor And Watchdog
Businesses have taken notice and implemented AI-powered tools designed to mentor staff while they work.
According to experts, such technology monitors, evaluates, and provides instantaneous feedback on actions undertaken - providing coaching or process guidance as appropriate for employees.
Logistics and transportation businesses often rely on systems with cameras, eye tracking devices and AI algorithms to detect distracted driving incidents, notify staff members about them and offer solutions.
10. Decision Support
Implementation of intelligent decision support systems (DSSs) in the workplace represents one use of artificial intelligence.
Such DSSs categorize and assess information before providing guidance during decision making processes.
Asgharnia reported that professionals using such software include researchers, doctors and accountants. He provided as an example a DSS which helps accountants sort through tax regulations in order to create optimal plans for their customers.
Few More Applications
AI-Powered Quality Assurance And Control
AI technology in the form of machine vision has long been utilized by manufacturers; more recently they're turning to deep learning-capable quality control software to optimize efficiency and precision while controlling expenses.
As deep learning models define quality themselves, these systems offer ever more accurate quality assurance services.
AI For Customized Customer Experiences, Support, And Services
One of the more prevalent enterprise uses for artificial intelligence is providing personalized customer services and experiences.
Earley notes: To deliver an optimal experience to customers, this system leverages customer identifiers and aggregates signals from various systems in order to understand their identity, characteristics and motivations.
Earley believes AI could make businesses even more efficient: "I believe personalization is not being performed to its potential right now," he stated.
Safer Operations
Numerous industries are using AI to increase safety. Endpoint devices like cameras, thermometers, motion detectors and weather sensors are used by construction companies, utilities, farms, mining interests and other organizations operating in remote or open areas for data collection purposes.
Once this data has been input into intelligent systems they use it to identify risky situations or opportunities and take corrective or preventive actions as required by these intelligent systems.
Similar software applications with artificial intelligence capabilities are being employed by other industries to monitor safety conditions.
Manufacturers use computer vision and AI software to track employees' actions and ensure compliance with safety protocols.
AI can be utilized by all sorts of organizations for monitoring workers and facilities by processing IoT ecosystem data in real-time, using AI systems like Deep Neural Nets to detect risks like delivery trucks driven by distracted drivers notifying companies accordingly.
Benefits Of AI-Driven Business Applications
AI implementation in your company has quickly become an operational necessity as businesses navigate an ever-more competitive and complex business landscape, rather than an optional luxury.
Going with this trend doesn't just follow buzzwords - instead it changes how companies compete and run operations. Below we outline several advantages associated with the adoption of AI-powered apps supported by real world information and case studies.
These are just some of the advantages that elevate artificial intelligence above mere passing fad and make it essential for progressive companies.
Increased Efficiency
One of the key advantages of AI in business applications is an increase in operational efficiency. Tasks previously completed manually by humans - like data analysis or customer service - are now done automatically by algorithms, freeing up human capital to focus on more strategic or complex work.
Cost Reduction
AI technology may appear costly initially, yet its long-term cost savings are indisputable. Automated systems reduce human errors while eliminating manual labor expenses to further lower expenses and expenses overall.
Improved Decision-Making
Although initial AI investment appears significant, its long-term cost benefits cannot be denied. Automated systems reduce human error while eliminating manual labor requirements to streamline processes thereby decreasing expenses overall.
Enhanced Customer Experience
Thanks to AI-powered solutions, customers are experiencing more responsive and tailored customer experiences than ever.
Customization is made possible thanks to technologies like recommendation engines and intelligent chatbots - two technologies not possible through traditional manual processes.
When Is It Appropriate To Use AI-Powered Business Applications?
Artificial Intelligence (AI) has become an indispensable asset to businesses of all kinds. From sorting massive data sets to convincing Rob from Accounting that his job doesn't need so much of his attention, AI helps businesses of all kinds with everything from sorting massive volumes of information and automating tedious tasks to making difficult ones simpler - as well as giving businesses peace of mind knowing they have an artificially intelligent secret weapon in them.
Businesses stand to benefit from improved decision-making processes, tailored customer experiences, predictive analytics potential that often exceeds forecasted, fraud detection/risk management applications using artificial intelligence as well.
Conclusion
AI-powered business apps are revolutionizing how business is conducted.
By quickly providing accurate and personalized data-driven insights quickly and accurately, they enable companies to attain new levels of operational efficiency that go far beyond window dressing; not simply window dressing either. Furthermore, these artificial intelligence (AI) tools free up human resources for more strategic tasks by automating previously manual processes; furthermore their evolution sets new benchmarks of feasibility impacting both strategic decision making and overall business success judge it at your own peril
