Artificial intelligence has been around for a while, but it’s only now starting to make an impact in the business world. Here are three of the many ways AI is changing the way that business operates.
1. AI is helping companies streamline their marketing with data-driven insights
2. AI can automate time-consuming tasks and produce incredible results
3. AI will lead to more creativity in the workplace.
What is artificial intelligence?
Artificial intelligence is defined as a human-made system that performs tasks that normally require human intelligence. AI has been around for a while, but it’s only recently that companies are starting to use it in their business operations.
The three biggest ways AI is changing the world of business are by helping companies streamline their marketing with data-driven insights, by automating time-consuming tasks and producing incredible results, and by leading to more creativity in the workplace.
AI and the business world
As AI becomes more and more mainstream, it’s creating a huge impact on the business world. AI is helping companies streamline their marketing with data-driven insights, automate time-consuming tasks, and lead to more creativity in the workplace.
According to a study by McKinsey & Company, AI will have an impact on both personal productivity and global economic growth. In fact, AI is predicted to add $13.5 trillion to global GDP by 2030!
If you’re wondering what this means for your business specifically, AI can help save time and money by eliminating certain tasks that take up too much of your time or are simply inefficient. This also means that there will be less labor required which means higher profits for your company!
AI and marketing
The ability to use data to create insights and automate time-consuming tasks is what makes AI so useful in marketing. Now, businesses are able to take data and make predictions about customer behavior that might be helpful for their brand.
As AI becomes more sophisticated and automated, it will lead to more creativity from the workplace. For example, if a company has an algorithm that can predict which customers are likely to buy a product or service, they’ll be able to target that group of people with highly relevant advertisements. These insights allow companies to tailor their message and increase conversions by targeting the most appropriate audience.
It’s predicted that by 2020 the world’s workforce will be made up of 30 percent automation and 70 percent humans, which means we’re all going to need some creativity when it comes to our jobs!
AI in time-saving tasks
Companies can use AI to automate time-consuming tasks, such as data entry and sales reporting. Using AI to automate sales reporting allows for more accurate communication with customers about the status of their orders. By automating these tasks, companies are able to save money by eliminating these tasks from their daily operations.
While it may seem like a downgrade from human labor, automation is a positive change for business.
AI and creativity.
One of the most exciting aspects of AI is its ability to help companies develop new ideas and products. AI can think for itself and come up with new concepts that humans might not even consider. In fact, in a study done by SAP, AI was able to generate over 100 million new product ideas in just one day!