The Impending Impact of Artificial Intelligence on Business

 The Impending Impact of Artificial Intelligence on Business

Artificial intelligence can drastically increase the efficiency of our workplaces and increase the ability of people to work. When AI performs a repetitive or dangerous task, it frees up the human workforce for jobs they are better equipped to do – tasks that require creativity and empathy, among other things.

What is artificial intelligence?

Computers use machine learning and artificial intelligence to learn and anticipate user interactions and deliver a seamless experience. Machine learning and AI are coming to the home with Amazon Echo, Google Home, and other voice-activated smart devices that allow users to play music, get weather, get news, and more, using only their voice.

Other examples of AI that can be found in our homes include the Nest Cam Indoor security camera, which uses AI and machine learning to take pictures and watch videos continuously. In the workforce, AI is going to dramatically transform the way we work.

How AI will change the way we work

Enterprise software giant SAP is looking to put AI into the hands of professionals who are not AI experts, allowing them to design, train and deploy AI within their organizations. SAP announced last month that they will begin rolling out the complete software suite of products, SAP S/4HANA (also known as SuccessFactors), powered by the HANA database, which supports Artificial Intelligence.

By 2020, the average company will invest $30-50 million in artificial intelligence. Google’s technology is moving fast and behind the scenes, thousands of people are working in companies to build this technology. They say, it’s taking up more and more of the work of companies that are starting to adopt it, but they are still early in its development.

What are the benefits of AI?

  • It is expected that AI will have a positive impact on almost every job. Industries including healthcare, retail, media, manufacturing, and finance stand to gain by implementing the technology.
  • AI can save people and businesses money by reducing the time it takes to identify the right person, place, and context for a given message and by automating routine processes.
  • It is also expected to improve access to healthcare by connecting doctors and patients with the right information and boosting the effectiveness of hospital visits and surgeries.
  • Companies like Amazon, Google, and IBM are also using AI to streamline their businesses and become a leader in the market.

What are the risks of AI?

Aside from the potential loss of human jobs, some worry that AI can put people at risk.

As reported in 2016, Google employees protested their company’s working conditions by threatening to organize a company-wide walkout. AI has also been linked to suicides.

A recent article by tech analyst Mary Meeker noted that deaths caused by artificial intelligence-based software were predicted to grow 300% in the next five years.

“Alarming. One, two, three, four, five suicides a week by someone with no history of mental health issues before. …I think the only thing more disturbing than this phenomenon is the callousness it reveals about the tech industry,” a community member in the area observed.

Conclusion

You are a member of the business community, a key leader in your company, and the creator of the growth, vitality, and revenue that will move your company forward. Take the time to explore the ways AI can benefit your business and implement the strategies that will take your business to the next level.

AITECHNEWS

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