How AI-driven Operations are Transforming the Business World





Nobody would have ever imagined that AI (Artificial Intelligence) would capture our minds and occupy spaces in our businesses in a flash.

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Back in 2018, Harvard Business Review had predicted that AI stands to make the greatest impact in marketing services, supply chain management and manufacturing. It's been only a few years post this research and we have begun to witness AI dotting the business landscape.





It's quite interesting and intriguing to note that by 2025, the global AI market is expected to be $60 billion and the global GDP will grow by $15.7 trillion thanks to AI. Such whopping numbers are encouraging businesses to include AI as it increases productivity by 40%. In this article, we will get to know more about AI and its significant role in transforming businesses.


What is Artificial Intelligence?

Artificial Intelligence refers to multiple technologies that have the ability to engage in human activity. Thus, AI can learn to handle vast amounts of information and data that will help businesses in carrying out their operations efficiently. In fact, businesses will no longer be dependent on their gut instinct in order to guide their decision-making.







4. Personalized business services: Businesses can send personalized messages to their potential customers with the help of AI. This will help them in segregating people on the basis of different parameters like age, gender, online searches etc. In totality, this will aid companies and businesses to make intelligent decisions.


5. Fraud Detection and Human Errors: The AI-systems can be put to great use when we are talking about fraud detection and human errors. It’s true that not only humans but also AI-systems commit errors. However, the frequency of these errors is really low and AI-systems provide us with 99-100% accurate data. As data is being collected on a very massive scale, AI-systems are making their way in data transparency and security, in order to curb frauds and illegal activities.



Conclusion

Today, artificial intelligence forms an indispensable part of businesses and companies. It's only going to get better with the help of upcoming technologies in the near future, thus, there is no stopping back. However, it's important to note that AI can also pose a serious threat on us and our businesses.


Therefore, cautious and sustained use of AI is extremely significant for the companies to achieve business growth. Whether it's a small scale or a large scale business, the role of AI has always been an important and interesting one, and it will continue to remain the same in the near future.

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