AI is becoming increasingly needed in today’s world, especially with the onset of the pandemic. Many businesses have been forced to use AI to make workflow easier. Companies have optimized AI to make business operations seamless. AI is on-demand, and that is why there is a mushroom of AI companies like OCX Cognition.
Artificial Intelligence is generally in the form of machine learning and deep learning. Machine learning is where AI is used to process and manage large amounts of data, which helps any business. On the other hand, deep learning is a different form of machine learning where neural networks are used for nonlinear reasoning. Unlike machine learning, deep learning can analyze a wide range of factors at once. There is no doubt that future trends are changing and that almost every industry is working to integrate AI into its systems.
5 Smart ways AI is transforming modern industries
AI is transforming customer relationship management (CRM) systems:
AI has made it easy for CRM systems to update and manage their database. Long ago, CRM systems like Salesforce or HubSpot relied on many human resources to ensure their data is up to date and accurate. AI has made the systems to be self-updating and auto-correct itself. OCX Cognition uses AI to transform data for better prediction of customer performance. It also engages with customer facing teams for seamless business operation.
AI brings automation of administrative duties:
Administrative tasks take a long time to do and may waste a lot of time, leaving less time for more important tasks and decision-making. From a Harvard Business Review study, most manage to spend over half of their time on administrative tasks. Most administrative tasks are tedious and hey, including making reports and presentations, data collection and comparison, scheduling meetings, etc. AI is a solution to solving all these problems through automation. For instance, companies like OCX Cognition have a unique data-driven model that provides the needful structure for collecting and calibrating data on every aspect of your business — leaving company executives with more time for high-level decision making and problem-solving.
AI has disrupted human resource management:
Initially, human resource management was so expensive as it was time-consuming. Many companies are currently using AI for recruitment. They also use the technology to sieve the job applicants to get to the suitable candidates making the process shorter directly. AI is an easier way to avoid biases in choosing the right candidate. One of the leading AI applications is aptitude tests to filter out suitable candidates and communicate with them.
AI has brought about automation, which has put many jobs at risk. The pandemic has made many companies look for options for cutting their costs to stay afloat. Most millennials are at risk of being replaced because of automation.
AI has disrupted the Automotive Industry:
Autonomous vehicles such as Tesla are increasing in popularity with time as they can save on time, energy and are safer. According to Business Insider, they can reduce up to 1.25 million deaths from road accidents each year. With AI, cars can be able to understand their environment quickly and navigate with ease. AI is also used as a solution for commercial freight companies to help in tracking goods. It can be handy for self-driving couriers and semi-trucks in real-time to help you have accurate time approximations. Using telematics and sensors will be safer and cheaper.
AI has affected the education Industry:
AI helps learners have a more effortless and shorter journey. It optimizes on algorithms to enable personalized learning and quizzes so that each student can get the right questions depending on their learning ability. AI can disrupt the teaching space and reduce the numbers of teachers needed and their work.
The primary use of AI in causing automation will soon be applied in almost all industries. Most businesses need analysis, and that can be done by using AI. AI use is not limited to tech industries but can be used across industries. AI-driven tools can help in the healthcare industry in diagnosing, treating and keeping patient’s data. The tools can also be used in accounting and generally increasing productivity in different sectors. It is just a matter of time, and companies like OCX Cognition will be in high demand because of the great AI solutions.
Even though AI technology is here to stay and has many benefits, you have to pay the cost needed, such as the system’s high cost, technical expertise, and lack of human touch. The technology will also render many jobless as there will be a lot of automation. AI still comes with a lot of opportunities for growth and expansion.