AI is transforming the way we work across almost every industry. Marketing, business, finance, tech, healthcare and many other sectors are now intertwined with AI technology. It is helping to shape the way we carry out complex tasks, how we manage our systems, and how we integrate our networks across the globe. Understanding the importance, application and presence of AI is crucial, as it will propel us into the future.
The future of AI in the workplace
Smart technologies are already a deeply ingrained feature of our lives, not only in the cutting-edge tech world, but also across all areas of work, commerce, and even our homes. AI systems are revamping many processes of service and production, redesigning the entire framework of many key industries around the world and transforming our economy.
The effects of AI are far-reaching; smart appliances in our homes, AI-based virtual assistants, chatbots, financial prediction models, social media, online shopping and manufacturing are all examples of AI-driven activities.
A McKinsey report for 2021 states that AI adoption continues to rise, with significant benefits. The results of their survey indicated that 56% of all respondents claim to use AI-driven technology for at least one key operation in their business. This isn’t just happening in the West; 57% of respondents from China, Africa, and the Middle East also said they were using AI, with India seeing the most growth. According to PwC’s Global CEO Survey, 54% of businesses’ long-term corporate strategies include goals for digitisation and automation. This growth is expected to continue. The utility, reach and application of AI systems is undeniable, so we can only expect the future of AI to be extremely strong. Artificial intelligence will be very important in the workplace if it is used correctly and under the right supervision and regulation. As time goes on, it will only get more and more common. The key is understanding how we can harness this deep-learning technology to serve our operations successfully.
Examples of AI in the workplace today
Artificial intelligence in the workplace is all around us. Our phones, Google Assistant, Alexa and Siri are all widely adopted AI applications that we use every day. Other examples include chatbots and virtual assistants, web search engines, job applications that are screened through AI tech, weather prediction models, and smart technology used in modern cars.
In manufacturing, AI is used to optimise the product development process to find ways of improving the company’s processes, materials and operations. It can be used to automate machinery replacement, repairs, and maintenance, as well as the actual production of products. In healthcare, AI is used to help diagnose illnesses such as cancer with a much higher success rate than a human radiologist could. Artificial intelligence is widely used by pharmaceutical companies to accelerate the drug discovery process and help treat patients more effectively through cutting-edge medical trials.
Chatbots have revolutionised the way that companies interact with their customers in the digital world. They are able to decode both spoken and written language by using natural language processing and provide almost instantaneous and accurate responses. AI chatbots can be used by employees themselves because they can act as virtual team members and help staff manage their schedules, prioritize tasks, complete IT operations, and even hold meetings. AI chatbots are essential for cutting costs and increasing efficiency. Artificial intelligence is also helping us to reduce emissions by creating more energy-efficient buildings and infrastructure. According to the US Department of Energy, commercial buildings waste up to 30% of the energy they use, so AI can be utilised to help reduce this waste in the pursuit of a more eco-friendly approach. Smarter energy management platforms made possible by IoT sensors and artificial intelligence help businesses anticipate peak energy consumption and redistribute systems accordingly. There are countless applications of AI in the current workplace – far too many to mention in one article. The following are some additional business-related applications of AI technology:
Benefits of AI in the workplace
There are almost countless benefits to adopting AI in the workplace. Listed below are a few of the most significant benefits. minimizing human error Human error is a natural part of life. No amount of care, attention, or quality control can stop mistakes from happening. With all the best will in the world, this is unavoidable. Argos, a UK-based business, is well aware that even a minor oversight can have significant repercussions. In 2005, an error in one of their listings for a television that was supposed to retail at £349.99, actually listed it for 49p for around 7 hours. Thousands of orders were placed, and although Argos managed to reject them, they ultimately faced a lengthy legal battle so as not to shell out thousands of TVs for less than the cost of a bar of chocolate.
The success rate of AI in removing such errors is extremely high. It is designed to flag inconsistencies before they go live, and can ultimately save companies millions in potential costs. It helps to avoid production damages, faulty equipment and revenue forecast errors.
Reducing human workloads
As AI can cover a lot of the “heavy lifting” for companies, human employees subsequently have more time to focus on other tasks. Labour-intensive duties such as customer service and sales can be done using chatbots, who provide swift and accurate responses to customers. This reduces the number of call centre and technical support staff that are needed by companies, allowing them to focus on management, growth and expansion. AI can assist businesses with mundane and repetitive tasks, freeing up employees to focus on more important aspects of the business. improved accuracy and efficiency AI allows companies to work more efficiently by helping them to complete tasks more quickly and accurately. Human error is reduced through the use of AI tools, leading to faster and more effective operations. This is particularly useful when working with data (such as in finance or engineering), where a human would need to spend significantly more time processing the numbers and information than an AI-powered tool would. This hyper-efficiency not only saves on costs, but protects companies from suffering embarrassing mistakes that could harm their brand.
increased efficiency People need breaks because they get tired, they put things off, and it’s hard to stay focused for long periods of time. Artificial intelligence does not get tired. It does not need a coffee break, and it does not complain about working overtime. It can operate 24 hours a day, 365 days a year, and it won’t miss a beat. This drives productivity, which leads to increased revenue. Software powered by AI can complete tedious and repetitive tasks flawlessly every time. An AI workforce, overseen by human intelligence, is a significant asset for businesses worldwide.
Summary
Artificial intelligence has arrived and will not depart. It’s taken a few knocks since its introduction in the last few decades, with many predicting the mass layoff of the human workforce and even going so far as to expect some form of Skynet-terminator disaster to occur as a result.
However, with careful oversight and regulation, AI can be, and already is, one of the most effective tools at our disposal. It will continue to develop, grow, and be incorporated into personal, professional, and health-related lives for many years to come. Understanding its potential is the key to moving into a better future.
