Author: Mario Petkovski
Artificial Intelligence (AI) is becoming one of the most talked future trends in every section of the world. AI is a computer system that can perform tasks which are normally done by a human. Every industry is trying to infuse artificial intelligence in its DNA in order to become more competitive, lower costs, and make the business more efficient.
The use of AI can be found in healthcare, transportation, manufacturing, retail, logistics, and in everyday life, even in sports. Major League Baseball uses an AI system called Statcast, powered by Amazon Web Services, to deliver game day stats to their fans to make their baseball experts picks.
Using AI in your business can bring a lot of benefits, that is why so many companies have decided to invest in this kind of technology. It is predicted that Artificial Intelligence will contribute $15.7 trillion to the global economy by 2030.
In this article, we will go through some of the benefits that AI can bring to your business as well as how to use it.
1. AI in Analytics
One of the most crucial parts of every company is the company database or analytics. Without any measurable data, we cannot determine if our business is going well or not or if we are making the right decision. However, the collected data is useless without any analytics.
The decision-making process can be hard and unpredictable in some circumstances, that is why AI can help to simplify the process. You can infuse your company with machine learning and deep algorithms that are designed to anticipate future trends or treats, predict possibilities and provide solutions for problems all with learning the data.
2. Use Automation to Simplify Marketing and Sales
Nowadays, you can use AI to simplify the marketing process which can be the most important factor for driving sales.
here are a lot of uses for AI in the marketing sector for example, you can make AI customer support that is designed to answer any question that your customers want to know and provide useful information. You can also use this technology to make price-optimization for various markets with learning the economy status of the country.
3. Inventory and Supply Chain Management with AI
These two processes can be hard and time consuming for a lot of businesses. Inventory management may seem like a simple process, but it can cost your company a lot if it is not run properly.
The use of algorithms can help you organize and manage inventory much better. You can send automate refilling requests and optimize supply chains. Supply chain management can also be a confusing and time-consuming process. However, with the use of AI, you can predict supply chain movements, automate order management and fulfillment and much more.
4. Improve Maintenance and Safety of Your Equipment
The maintenance of the equipment in the company is very important just because it can cost the company a lot of money if the equipment is not properly maintained. Artificial intelligence can help to track equipment amortization and inform you if any of the machines need to be refreshed in order to avoid much larger damage.
The safety of the equipment and workers is also very important and with AI you can track employees if they are wearing the right protective gear or if any of them are near danger using camera tracking software. This can improve the safety of your company.
5. Improve the Quality of Employees
Finding the right members for your team sometimes can be hard which is why many companies started using AI in order to hire new candidates. The system is designed to evaluate their performance using emotional cues and determine which is the best candidate for the job. This can save you a lot of time and effort for finding qualified workers.