Can you predict the technological advancements that will come a year from now? Probably not. However, if you reflect on how things were ten years ago, you will see that the world is different now. In what ways?
From the discussion that follows, you will realize how AI is changing business.
Why the changes?
The power of technology is enormous, and its impact on change is profound. Technology, therefore, is a topic for discussion in any business environment.
There are similarities among businesses across the globe. Rapid developments and innovations such as those that have led to the introduction of technologies such as AI, the organization's management process is no longer a big deal as it was ten years ago.
Top business leaders can get things done without having to engage the whole process team. They only need proper technical know-how on how to handle the equipment they have in their business environment.
What is AI
AI is a branch of science concerned with the development of machines capable of performing tasks the same way human beings do. They are developed and fitted with the same intelligence as human beings.
Some developments have occurred in AI since it came into play, the first one occurring in 1943. A publication titled “A logical calculus of ideas Immanent in nervous activity” was written by two men-Walter Pitts and Warren McCullough. Theirs was really the first proposal of a mathematical model for building neural networks.
How does AI generally work?
After understanding what AI is and the kind of developments that have occurred since it arrived on the technology scene, let's look at how it actually works.
When one first learns about AI , you may ask, do machines think? The answer is that AI is programmed to function just like normal human beings.
If you look back in history at world wars, you will realize that the technology was present during World War II. It is what was applied by the Allied forces to win the war.
That fact exemplifies the extraordinary results that the machines are capable of delivering in a variety of business processes.
To understand how AI works, let's consider two main categories of AI.
Narrow AI
It refers to the stimulation of human intelligence. It primarily focuses on performing specific tasks more efficiently. A truth less known is that it has a lot of limitations.
Despite the limitations, Narrow AI has achieved a great deal toward making task handling easier. Below are some of the examples of narrow AI that have had a positive impact on society's development.
- Google search
- Self-driving cars
- Image recognition software
General Artificial Intelligence
If you have watched the latest movies, you will realize that robots such as those from Westworld are useful. They can virtually solve any problem within a shorter time than human beings.
General AI is a machine that can apply the same intelligence as that of human beings to tackle any challenging task. It's also known as strong AI.
How AI is having an impact on BPM
Better data handling, reporting, and forecasting
Before AI became effective in the business environment, people could only access data. However, such people could not access the analytical tools that could help them prepare comprehensive reports.
However, with AI taking over everything in the business space, data handling and further analysis are now possible. A good example is Scanteam that takes advantage of AI to review and analyze various iGaming partners in real-time. Business leaders can come up with detailed reports involving a variety of business processes.
Task Automation
AI has paved the way for better ways of delivering instructions to team members in a business environment. For instance, team leaders can use voice command and chat options to designate tasks. That enables them to save time and also improve workflow.
More data organization
In a business environment, any information is key to the business operation. However, as much as AI regards structured information as easy to interpret, there are still unstructured ones. It provides insightful tools useful in converting such data from unstructured to structured and making them readily available for use.
Customer experience improvement
Before the adoption of bpm AI, collecting customers' feedback was not that easy. Also, the focus was primarily on the cost. However, gathering customer experience has become easier with its integration because of options such as chat tabs that allow businesses to interact and understand what customers are thinking.
Greater cost-efficiency
Various AI concepts help in cutting costs compared to traditional methods of carrying out business operations. However, one thing that stands out is that there must be a good initial investment for AI to be effective in the business.
For instance, a bpm machine that uses AI will require maintenance and other allied costs. However, it will save the organization on various costs such as labor and cost of operational time.
Eliminates redundant task automation
In a business environment, tasks are frequently repeated. Most of the time, such tasks are unwieldy and require a lot of team workers. However, with AI, tasks can be automated and handled within a shorter time.
Useful in creating blueprints
With data collected from various channels and analyzed through AI, the reports are essential in setting long-term business plans. As mentioned, AI for business processes help in providing detailed information through comprehensive analysis.
Provides enhanced decision making
Through various AI algorithms, business managers can make correct decisions using the business's available data set. That also reduces the time taken initially by them to consult with other stakeholders in the industry.
Promotes a culture of value addition
The products produced in modern times are of a higher quality than those produced before integrating AI in business. It makes the products be of the desired quality by the customers.
Creates room for experimentation
AI allows businesses to experiment with new developments that they believe can improve their operations. With technology, various tests are possible on products or even the functionality of other machines used in data processing and production.
Above is just an iceberg of how AI is transforming business operations. We are yet to see business operations make the best use of AI, but we hope to see future improvements.
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