04 Mar 2021

Can Artificial Intelligence Increase Your Business’s Productivity?

Over the years, there has been a rise in the use of technology in everyday businesses, and we are not talking about standard computers or hard drives we use in our daily routines. Newer technologies, such as artificial intelligence (AI) and machine learning (ML), are on the rise in the workplace, primarily because of the productivity boost. According to  Accenture, artificial intelligence can increase productivity by 40% or more by 2035. Through data collection, automation, decision making, and cybersecurity, AI can boost profitability by an average of 38%. 

Business productivity and Artificial intelligence go hand in hand. AI can increase a business’s productivity by integrating information and communication systems, delivering intelligent machine automation, providing early warnings of potential problems, and much more.

AI has revolutionized business productivity by making the right decisions in a short period. The decisions taken by AI in business are based on a set of algorithms, reducing errors. Though implementing AI is costly, it has been blending new improvements in the market. 

Apple and Amazon are the few leading companies leveraging AI technologies in the existing IT market.

Benefits of Artificial Intelligence

  1. Customer Satisfaction and productiveness
    Chatbots, conversational agents, have replaced employees on answering calls. Chatbots have replaced customer service employees in various companies enabling them to spend less money on employees and more on marketing, sales, engineering or manufacturing etc. Furthermore, this can help companies be more productive by freeing up more time while allowing customers to get personal and accurate interaction.
  2. Seamless Hiring Process
    If you have ever worked in recruitment, you must be knowing how time-consuming and costly it can be for a business. With so much time and energy being spent in finding eligible candidates, reviewing resumes, and interviewing multiple potential employees, recruiters are looking for anything that can streamline the process. Artificial intelligence has been used by businesses to help make this process smoother.
  3. Automate your work
    TechRepublic has said that many companies are using AI to automate cognitive workflow. For example, the automation company Coseer has used artificial intelligence to do this for years. To help them cut down on tedious work, they use AI automation features to automate unpopular work; this, in turn, has helped increase productivity because their employees and programmers are working on tasks they enjoy and take pride in.

Even though we might somewhere deep down hate Artificial Intelligence for eating up jobs but when we look at it from the business point of you then despite being a little heavier on the pocket, it stands up to its name when we see the amount of work done in a brief period while at the same time relieving employees who can work on some other project as per their interests. With time it is projected to mark its presence based on the current trend. There is no doubt that Artificial Intelligence can be a valuable addition to your business and that too a brilliant and analytical one. 

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