Artificial Intelligence (AI) and machine learning are penetrating every industrial sector nowadays. They have started to play an active role in our everyday lives. Whether you check out your Facebook timeline, search anything on Google, book a flight online, or obtain an Amazon product recommendation, AI and machine learning lurk behind it. Artificial intelligence, that only existed in theory decades ago, is now coming into action due to various technological advancements.
A number of companies are now using the potential of AI to improve their customer experience, productivity, and efficiency. This is the reason AI talent is in enormous demand. Learning of artificial intelligence and machine learning is quite accessible these days through various online training programs. Suppose a candidate is looking for an Artificial Intelligence course in Bangalore, then he has access to a number of courses online and he doesn’t need to go to a physical location to attend the classes.
There are many fascinating applications of machine learning that we can find in the market today – autonomous cars, voice assistants, and drones are the top examples. When you interact with virtual assistants like Alexa or Cortana, you might wonder how the machine became so smart. Well, it will surely pique your interest in knowing more about the technology behind it. Additionally, you may want to explore what are the other benefits of using these powerful technologies.
So, in this article, we have discussed some of the advantages companies get by harnessing the power of artificial intelligence.
Top Advantages of Artificial Intelligence
AI aims to impart human-like intelligence to machines so as to enable them to work like a human brain and perform the desired tasks. When such machines are brought to business use, here are the advantages companies get.
Reduced time to finish tasks
You know how a simple calculator gives an instant result to any input queries compared to humans who take some time to do calculations in their brain. Similarly, if we talk about an AI-powered machine, it will be able to do multiple complex tasks quite easily than humans. A company can save a lot of time by adopting such machines and allowing the workforce to focus on more productive tasks than repetitive ones.
No interruption in work
A machine can work 24/7 while humans need a break. AI can work endlessly and perform multiple tasks with the same efficiency to deliver the desired outcomes. Consider chatbots for example. While humans have to work in shifts to respond to customer queries, chatbots can handle them round the clock. So, even if a person is raising a query late in the night, he will get an instant response from the chatbot. This way, companies can increase customer satisfaction.
Improved quality and minimal error
By adding AI technologies to business processes, organizations can experience a reduction in errors along with strong adherence to established standards and protocols. When humans perform any tedious task, they are prone to making mistakes. But the same thing can be done by AI with reduced errors. Eventually, the error-free results lead to improved quality of products and services delivered by an organization.
Using AI and machine learning, companies can monitor their industrial equipment for optimal performance. In industrial sectors like manufacturing or oil and gas, any downtime in the machinery can cause huge losses. With predictive maintenance, companies can monitor data streams generated by the equipment. If the data starts diverting from their normal values, companies can be alerted regarding any looming problem and fix it before it affects the normal working conditions.
Human decisions are more or less based on their past experiences and driven by emotions. These decisions can affect the business in various ways and may or may not lead to desired results. As AI is devoid of human emotions, it can make decisions without any biased views. For example, a customer relationship manager working in the stock market industry may suggest his preferred stocks to clients, regardless of whether they align with the client’s requirements or not. AI, on the other hand, would map the client’s requirements to the best available stock and give its recommendations without any emotions.
Improved talent management
You must be aware of how tedious it is for companies to find the right talent for their open positions. HRs have to dive through a number of resumes and shortlist candidates based on requirements, and the entire process can take one to three months. AI-enabled processes in recruitment can not only save companies in hiring costs but also improve workforce productivity by identifying top-tier individuals, screening them, and ensuring successful sourcing. In fact, AI tools can gauge employee sentiment nowadays and identify and retain high-performers.
AI and machine learning have massive potential for creating a better world to experience. The most crucial task for humans will be to make sure that the rise of AI doesn’t go out of hand. Although there are many disadvantages of artificial intelligence, its impact on global industrial sectors is undeniable. So, if you are seeking a rewarding career ahead, then start learning AI today. A number of online courses are available to help you learn all the basics as well as advanced AI concepts.