Creating a Competitive Edge – How AI Helps Drive Businesses Decisions
The main idea of Artificial Intelligence (AI) is to create intelligent and smarter machines. In broader terms, AI refers to multiple fields of study, such as Machine Learning (ML), Robotics, Natural Language Processing (NLP), and Neural Networks. These technologies have transformed AI into a robust tool, that has radicalized the decision-making process and promises to change the way we do business.
At accentedge, our team excels in the field of AI and ML with 30+ years of experience in technology. Our mission is to use AI for delivering major cost reductions, streamlined workflow, automated processes, and improved compliance.
AI and ML Today
AI and ML are already beginning to have an influence on our everyday lives. This technology is used in all sectors such as retail, security, sports, manufacturing, and logistics.
Many don’t realize that technology such as Amazon’s Alexa, Microsoft’s Cortana, and Apple’s Siri, are all examples of AI technology that have slowly become a part of our lives. Even the self-driving and self-parking cars are forms of AI technology that have become a norm.
The question that now arises is how these AI and ML technologies will impact organizations and industries – and how will these technologies benefit companies in creating a competitive edge?
How Businesses Are Implementing AI & ML
A key area where AI and ML promises to create value in organizations is the acceleration of the decision-making process in business. ML technology is now able to analyze huge data sets faster and accurately due to access to larger volume and variety of data, greater processing and computational power and reasonable data storage solutions.
Various organizations and industries have been able to utilize AI automation technology to control their business process and drive operational work efficiency. Organizations can be slow in decision making due to work and data overload, too many steps involved for a single approval and other workflow bottlenecks that hinder profitability and productivity.
AI, complimented by Machine Learning, can handle data sets of huge size, complexity and variety. As a result, Machine Learning is now able to guide better decision making and give more intelligent direction to business and industry with minimal human intervention.
What are the Results?
With the help of real-time data gathering, trend analysis and forecasting, AI and ML systems can supplement an organization’s ability to make cost-effective decisions. Because of these advantages, industry leaders will continue to look for new and innovative ways to incorporate AI and ML practices into their overall business strategy.
Furthermore, businesses can create machine learning frameworks in order to keep an eye on data trends. Once these machine learning tools have gained enough accurate data, they can make high-level decisions without the need of human intervention.
The Future of AI Technology
Machine learning and artificial intelligence are constantly evolving every day. The technology is bound to change the workplace as machine learning could provide us with managerial guidance.
It is projected that in 10 years, machine learning will be able to make decisions without the help of C-level executives. AI will have attributes and capabilities similar to that of an individual running a department.
Sixty-two percent of managers say that AI technology will change the way we work in the next few years. Partly as a result of improvements in AI technology, U.S labor productivity is projected to boost by 35% by the year 2035.
The Future For Businesses
As stated above, AI has already become a part of our everyday lives. From self-parking cars to Microsoft’s Cortana technology, AI technology has become a norm in this era.
Now, companies are starting to wonder how they can implement AI and ML in their businesses to facilitate decision-making processes. Companies are looking to leverage business process automation to increase operational efficiency.
Accentedge has a vision to provide data solutions and software intelligence for our customers. We strive for innovation and growth. That’s why we want to help your company succeed. Don’t get left behind. Reach out to us today.