Artificial intelligence is transforming the business world, and often surprisingly quietly, as most of its work is done behind the scenes. But more and more businesses are adopting AI for a variety of uses to gain an advantage over the competition, especially in areas such as efficiency, data analysis, and product development. According to a recent Deloitte survey, 83% of businesses that adopted AI reported substantial (30%) to moderate benefits (53%). Companies that are slower to adopt artificial intelligence risk being left behind in the dust.
Artificial intelligence has appeared as a buzzword, with many products touting somewhat exaggerated AI capabilities. But artificial intelligence software has advanced to the point that it is a viable option for any business looking to improve their processes and increase their revenue, provided that they work with developers who understand the technology.
AI: What It Is and What It Isn’t
Artificial intelligence, abbreviated to AI, refers to the use of computers for problem-solving and information interpretation in a way that resembles human intelligence. However, AI is not truly intelligent in the human sense. Its advantage lies in the fact that computers can analyze huge data sets much, much faster than people, and go through a process of ‘learning’ which decisions are desirable and recognizing different types of information. Through this process, they can solve complex problems such as driving a vehicle, creating an image from a set of instructions, writing in a human language, organizing complex supply chains, and more.
AI is a crucial part of technologies such as facial recognition, robotics, chatbots, video games, data analytics, image editing, natural language processing, and voice assistants. Many businesses use AI to streamline their processes, improve efficiency and save money. It can also be used in consumer-facing products to offer convenient features such as voice control, smart refills, personalized customer service, product recommendations, etc.
Using Artificial Intelligence Software to Transform Your Business
The main benefit that AI brings to any business is its ability to identify and analyze patterns in huge data sets, such as an employee database, consumer spending habits, a logistics network, maps, photo and video banks of faces, vehicles, etc. The AI can then make predictions, recommendations, and even decisions based on these patterns. This is key to making your data actually useful to your organization and getting the most value from it.
Improved Efficiency and Decision-Making
Using artificial intelligence, one can make more informed decisions regarding the future, such as potential markets to target, the most efficient work practices to adopt, what resources to invest in, estimate revenues, and so on. AI software can—in combination with input from human minds, of course—help your business make faster, better decisions, anticipate trends, and stay ahead of the curve compared to competitors. Other useful applications of AI in the business world include:
All the employees in a business work with data and rely on finding information to do their jobs in some way or another. Incorporating AI into your business software can make the processes of finding information, going through databases, etc., much faster and smarter. This speeds up the information flow in your company and improves communication, making sure your staff can quickly access what they need and that teams can collaborate faster.
Fears of robots taking over most jobs have been exaggerated, but the fact remains that there are roles that can be better handled by automation. Using AI, you can analyze productivity and find that you may need fewer people for some tasks. Then you can better reallocate your human resources. AI is also used by HR departments to manage data such as vacations, overtime hours, and performance. This allows companies to quickly identify patterns or problems that a human might miss.
Customer Targeting and Loyalty
When you make your company processes more efficient, it should result in an improved product for your customers, but AI can do more than that. By collecting data on consumer behavior, AI can analyze these large data sets for things like buying habits, preferences, demographics, etc. that will help you improve sales, retention, and loyalty.
AI can be incorporated into your own products to offer advantages to customers compared to other brands. Voice activation, chatbots for fast customer service, productivity tools, product recommendations, etc. Depending on your industry, your products could be improved by AI in various ways that stand out to consumers.
Custom AI software Versus Off-The-Shelf Software
Although some premade AI software packages are readily available to buy, custom software solutions are typically a better investment for companies. As with all software solutions, off-the-shelf products may not suit the needs of your company or integrate well with existing processes. They may even come with unnecessary features that slow you down. AI should be an investment in efficiency, and you don’t want waste.
Custom software solutions, on the other hand, are designed precisely to meet your specifications and integrate with your company’s existing resources, and most important of all, to your data, which is specific for your particular business case.
At AccelOne, our experienced software developers have a proven track record of creating custom AI software for industry-leading businesses.
To learn more about how we can help you create the perfect AI software to meet your goals, contact us online or call 800.863.6814.
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Based in Seattle and with offices in Las Vegas and Buenos Aires, AccelOne aims to solve software development’s biggest challenge: delivering quality solutions on time and on budget. We offer custom software development, nearshoring, and IT staffing and recruiting services. Browse our site to learn more.