AI is bringing about many changes in the rules of how business is done today, and the shift has been quite evident in productivity results which have shown upward trend.
AI will in fact enable the sustaining of a competitive advantage in business operation. AI can be accepted as a strategic priority for businesses, and will permit entry into newer domains.
AI changing the Dynamics of Business
Google’s AI bots have developed a new language of their own in order to secretly communicate with each other. AI is no doubt changing the rules of how business is done off late.
AI has revolutionized the productivity processes.
An Era of Uber-productivity cum Deeper Exploration Lies Ahead
Factories and warehouses, as many entrepreneurs feel, are run by robots controlled by AI, without even a single human being present.
Software products are in fact embedding AI and Machine Learning to super-personalize it for the users is what thought of. Intelligent chat-bots and voice recognition platforms are also transforming the way one manages contact centers and shop-fronts.
Consumer and process data is in fact becoming increasingly available and along with it the power invested in parsing that given data is increasing simultaneously. Machines are being built to learn and improve technology. This will of course bring in an era of uber-productivity as well as deeper exploration for mankind.
AI Increases Efficiency at a Fraction of the Resource Cost
AI increases productivity as one can outsource Big Data analysis and decision-making to systems that are rather very fast. Mistakes are few and the breaks for sick leave and will be less as in the case of humans.
AI efficiency levels are achieved at a lesser cost. It can now perform cognitive tasks that cannot be coded or even be taught, i.e. tasks only humans could were able to do in the past.
This technology is possible today on account of computers being faster; the amount of digital data available is also very huge.
AI Embodies Characteristics of General Purpose Technologies
Some feel that AI will soon replace human intelligence and perform human jobs, which may reduce economic productivity. Others on the other have positive view about AI that it will augment human intelligence while promoting additional decision making capabilities and also improve the productivity.
Technocrats do predict that replacing human intelligence, though difficult, is not really impossible. On one side one can augment the human intelligence with new-age AI is something already in operation. AI has been able to achieve many things such as assisting doctors in diagnosing the disease to helping police and security agencies in analyzing criminal activity, thus resulting in overall growth in productivity.
AI is indeed likely to contribute a lot in enhancing business and technocrats have much positive things to say about its impact on overall productivity growth and development. This technology has a major role to play in the future in business decision making as well as functioning. It will also promote healthy environment with greater expectations of profit and sales.