The digital age has given us a number of incredible innovations but perhaps the one that has barely been explored is Artificial Intelligence. There have been huge developments in the area of AI since it was first implemented as part of general ecommerce, but the vast potential remains untapped.
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In recent times, one of the many developments in this sector saw what was described as a ‘significant breakthrough’ in the world of protein modelling. Using AI to create 3D structures could lead to big advances but this is just the tip of innovation.
With the sector expanding at a rapid rate, the obvious question for all industry leaders and company owners is whether to implement Artificial Intelligence in their specific business.
Taking the Plunge
All businesses are different but no matter what sector your company may be involved in, there are many ways in which AI can be seen as an all-encompassing tool. Supporters of artificial intelligence claim that the practice helps to unlock the creativity in their employees who aren’t restricted by conventional technological tools.
Setting up AI creates a blank canvass and in turn, it forces employees to think in terms of how it can benefit the business and the same principle applies irrespective of the sector. Any resistance to change within the workforce is overcome and anyone in a creative role would embrace the potential that artificial intelligence can deliver.
One of the benefits that most industries have experienced with AI involves product design. The practice has many upsides for service led companies too but for those who are mainly product based, it can literally revolutionise the offerings and, in turn, those order sheets.
On a basic entry level, artificial intelligence was brought in to monitor customer spending and to offer products and tailor promotions based on those patterns. An email stating ‘If you like this, then you may like this’ is now a simple way of encouraging repeat business and customer loyalty but think how long this would take for employees to work out manually.
One of the perceived downsides of implementing AI involves the theory that the robots are taking over traditionally human roles. The reality isn’t quite as simple as that but this can lead to something of a defensive mindset among the workforce.
While there may have been isolated casualties, artificial intelligence was essentially brought in to create new opportunities within multiple sectors of industry. We’re not talking about a robot who can assemble car parts and directly replace its human counterpart here. The intention with AI is to explore new realms and new developments in any industry and, as a happy by-product of all that research, this is a practice that can create new jobs.
Artificial Intelligence has been a boon to many industries and there have been some important developments in the medical world too so it’s not just a case of seeking out profits. Humankind as a whole can benefit but at a simple business strategy level, there are many reasons to explore further.
We all have differing requirements and a building firm isn’t going to be looking for the same type of results as a company who manufactures contact lenses. However, as we have seen, there are general areas where AI can help develop any sector. Concern over job losses can also be put to one side because, while the full potential of AI can only be imagined, the future is very much here.