Business

Why Modern Companies Need AI Solutions?

If you’ve never dealt with industry 4.0 technologies, you may be thinking that AI solutions are only available to the most prominent players. Furthermore, you may think that deploying AI to your business is difficult and costly. In the beginning, it was true, but AI is constantly evolving and thus becoming more and more accessible. Consequently, even small and medium-sized companies are becoming interested in solutions such as machine learning, speech recognition, production automation, or robotics. If you do not want your company to be far behind the competition, you need artificial intelligence solutions. Why? Find out in the article below.

According to research by Gartner, by 2025, around 1/3 of current human activities will be replaced by intelligent machines and robots. As many as 80% of the decision-makers participating in the survey indicated that they are already noticing that artificial intelligence solutions increase employees’ productivity and contribute to creating new jobs. This is one of the biggest reasons why AI and Machine Learning Courses are highly in demand.

Researchers estimate that around 2 million new AI-related jobs will be created worldwide by 2025. Market leaders already know why AI solutions are so significant in the development of their businesses. Now, it’s time for you to see for yourself how artificial intelligence can improve your business.

Cost reduction

Each company that wants to reduce costs should implement artificial intelligence solutions. Of course, it is worth emphasizing that we are talking about a reduction in the long term. There is no doubt that the implication of AI solutions requires time and investment. However, these are one-off costs. In return, artificial intelligence will work for the profit and development of the company for many years without generating additional fees on its part. So how does AI contribute to cost reduction?

1. 24/7 operation: Most AI solutions do not need constant supervision, which means that they can work 24/7 without any problems, contributing to increasing the company’s efficiency and reducing costs.

2. Faster and more efficient processes: With the help of artificial intelligence, your company can do more in a short time: produce more products and complete more tasks.

3. Changing the workforce structure: As robots and other intelligent solutions automate many simple processes and tasks, companies can shift the burden of hiring employees to more strategic and creative areas.

The data provided by Statista can confirm our words. Back in 2019, companies from the manufacturing industry indicated that the implementation of AI solutions contributed to a visible cost reduction in the amount of:

  • Less than 10% (28% of responses)
  • 10-19% (16% of responses)
  • Over 20% (6% of responses)

Improved customer service

Meeting customer expectations is crucial for business, so many companies implement AI solutions to improve the quality of customer service. It has long been known that it is better to prevent a potential problem than to look for a solution to eliminating it later. As a result, these processes can run faster, be more accessible to customers, and generate lower costs. Thanks to artificial intelligence, specialists can spend their time solving more complex queries. As a result, the entire customer service is improved in terms of quality and efficiency.

Examples of such activities include systems with built-in artificial intelligence that monitor an infinite number of websites for specific keywords. As a result, firms can quickly and effectively identify customers who experience purchasing problems. Solving consumer problems before they appear has enormous business potential. They can significantly lower consumer discouragement rates while reducing the number of complaints and improving the overall consumer experience, making it easier for companies to establish long-lasting relationships with their customers.

Better business decisions

Artificial intelligence is not only about autonomous vehicles and intelligent robots. These are also constructive algorithms based on in-depth data analysis (data science, business intelligence). Thanks to such research, enhanced by machine learning algorithms, you can learn much more about your company and its customers and even, to some extent, predict the future. Big data analysis allows you to make more accurate business decisions, even if your company has a vast amount of data that a specialist cannot effectively analyze. Nowadays, there is no doubt that it is the correct use of data that determines your success in the market.

Higher quality of products and services

How to know the client’s needs? How can they find out what exactly they expect? How is it measured? The solution may be to invest in technologies that can collect vast amounts of data about customers. However, to use this data effectively, artificial intelligence is needed to get to know the customer and help predict his needs. Thanks to this, companies will improve the quality of their products and services, thus leading to a situation where they will stand out from the competition in a given industry.

Automation

The production was the industry was one of the first to start testing AI capabilities. The use of artificial intelligence on a large scale is a way of a real revolution in production. Artificial intelligence will open up new opportunities to improve production processes and optimize expenses related to implementing new products. AI will accurately calculate the availability of production capacity and their optimal use, processing vast amounts of data on an ongoing basis, considering the probability of a failure, supply of raw materials, and even the demand for a given product within a specified period. As a result, the operational processes will be implemented much more efficiently than at present, based on more accurate forecasts. Risk management will become more accessible in the industry, and also AI will optimize production.

The critical areas for the development of artificial intelligence are image recognition and processing technologies, language processing technologies, virtual assistants, autonomous vehicles and robots, and machine learning. Business implements AI solutions very intensively in all these areas. However, there are many more benefits that companies benefit from using artificial intelligence, and it is unmanageable to describe them all in one article. AI Consultants helps modern companies develop their business and enter an entirely new level of development. Thanks to AI, companies can achieve achievements that were previously beyond their reach.

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