How AI Will Continue to Impact the Business World
Your business uses AI to streamline operations, process data quickly, and so much more—but what does the future of AI look like in the business world?
Artificial intelligence is a comprehensive term to encapsulate any type of computer software or technology that enables machines to recognize, understand, plan, and emulate human-like activities and levels of intelligence.
While currently artificial intelligence (AI) cannot comprehend or reproduce results fully comparable to those of a sentient being, it does act as a significant and beneficial tool, especially in the workplace. Utilizing the strengths of artificial intelligence, like its alacritous ability to process and analyze data, presents the opportunity for organizations to streamline their workflows, optimize administrative processes, and even improve customer relations.
Machine Learning & Deep Learning
Thanks to machine learning and deep learning, there is more to artificial intelligence than just its efficiency for improving and streamlining work.
One of the most common types of artificial intelligence, machine learning algorithms are used to process vast amounts of data quickly and efficiently. Additionally, these types of artificial intelligence contextualize this data and appear to “learn” from it, improving their performance and providing better results for humans.
Deep learning is a more specific version of machine learning, although it applies more nonlinear reasoning. Compared to the automatic data processing capabilities of general machine learning algorithms, deep learning algorithms take in a lot of data all at once and actually perform better this way. Because this large-scale automatic data processing analyzes a variety of factors all at once, it is able to improve its performance and, for businesses, scale to meet the needs of more sizable operations.
CRM & ERP Solutions
While you might be new to machine learning and deep learning, certainly you’re familiar with CRM and ERP solutions like SAP software and Salesforce.
Artificial intelligence’s automatic data processing capabilities can be found in your business’s CRM or ERP software solutions. It is updating, correcting, and evaluating data to help manage your customer relationships, business operations, and so much more. While many people are concerned that we are not only becoming overly dependent on AI but also that it will cut jobs and the need for human intervention, according to Forbes, “the belief that artificial intelligence signals the demise and replacement of the human sales function entirely, is tremendously short-sighted.”
The Future of Work
“Artificial intelligence will create more wealth than it destroys.”
— Dr. Nathan Wilson, Co-founder and CTO of Nara Logics
Artificial intelligence will certainly have a substantial impact on the future of work, especially in the business world. As machine and deep learning proliferate, they will certainly create better automation solutions that may impact certain industries and displace particular jobs. Although on a larger scale, artificial intelligence has an overall beneficial impact on many positions, making their tasks easier and more efficient.
More specifically, artificial intelligence can improve analytics and automate complex processes in order to minimize downtime and reduce costs. It can also provide more accurate predictions and highlight opportunities prone to human error.
Ready to optimize AI for your business? Learn how to optimize your current software or gain support to scale your business for the future with Local World’s expert ERP consultants.