By David Holland

May 28, 2021


Artificial intelligence (AI) is rapidly making its way out of research laboratories and into the world of business. Industry leaders across hundreds of niches are harnessing its potential — from call centers deploying chatbots to enhance customer interactions, to banks analyzing innumerable data points within seconds to detect fraudulent activities.

What will the future look like? Where is this technology headed? How can businesses best prepare for AI disruption? These questions have been on the minds of many in recent years, as advances in machine learning algorithms and computing power make it possible for computers to perform tasks that were once thought impossible. In fact, a 2018 PwC survey reports that 46% of executives surveyed believe AI will disrupt their industry over the next three years.

To help answer these questions, we’ve put together an infographic highlighting some key facts about artificial intelligence today — including how businesses are using it right now. There are many ways that this technology will impact the future of business, and I’ve listed some below:

-AI can increase productivity by automating routine tasks. AI is able to perform these mundane duties at a faster rate than humans, which frees up time for employees to complete more important work. This includes assigning schedules, approving expense reports or emailing reminders about meetings.

-This increases employee satisfaction because they are not bogged down with mindless tasks while still being fully engaged in their jobs.

-AI also helps businesses identify new revenue streams and create opportunities for innovation due to its ability to process large amounts of data quickly compared with human workers who may be limited in knowledge or expertise (such as a retail store or delivery warehouse).

When it comes to negative impacts, there is a concern that AI will replace jobs and the workforce. As with any technological advancement, it can be challenging to determine how many positions are lost due to automation or innovation.

-The truth is that these fears have been around for decades as new technologies were introduced but people still found work in different capacities.

-Studies show that when companies invest in training their staff on AI systems instead of replacing them, not only do they see an increase in productivity from employees who make fewer mistakes because of powerful algorithms programmed by experts, but they also retain more skilled workers at lower costs than if those same individuals had sought out other employment options elsewhere

AI has already been implemented into everyday life through devices such as Google Home and Amazon Echo.


About the author

Nice bloke with practical ideas. Former Procter & Gamble, Kraft and IBM sales and marketing executive. Became a business owner 20 years ago. Started multiple businesses including EXELA which is the most successful Keap® & Infusionsoft™ reseller in the EMEA region.

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