Is Artificial Intelligence In Businesses A Good Idea?
Published September 16,2019 4 weeks ago Posted By Justinas DanisReading Time: 5 minutes
It started in association with science fictions and has now become commonplace in our day to day lives. Yes, we are talking about artificial intelligence and that has received a mainstream acceptance in our society. Today, businesses are taking advantage of this technology in making innovations and also to improve business operations. This blog will discuss if AI is the right choice for your business.
Today, the integration of AI for both businesses and governments across various industries is a top priority. AI and machine learning together are changing the business environment and delivering new opportunities with smart automated products.
But, this technology getting into business operations, has its dangers, challenges, and risks to the human workforce. Here, we shall discuss numerous aspects and offer insight into AI in businesses.
An introduction to AI
AI is a broad term that brings together machine learning, NLP (natural language processing), deep learning and cognitive computing, under one roof.
Presently, businesses are using autonomous processes to offer better customer service with the use of AI based chatbots. Artificial Intelligence is a set of algorithms that organizes huge data and makes the best use of them.
There is the ongoing buzz that automation and AI, similar to other technological innovations will lead to cost-cutting, enhance productivity by freeing workers from lesser important tasks, increase flexibility and encourage innovation.
The fact is that when done correctly, implementation of this technology will help businesses to grow product lines, revenue and give better customer experiences.
The rise of AI in business
AI can cause some disruption in the present flow:
- at the entry point
- automated backend processes
- knowledge management
Currently, numerous companies are taking advantage of this technology and is at an early stage of development. If businesses decide to integrate automation and AI then there will various obstacles that must be overcome like control, lagging in skills and legacy system. Let’s read them in details.
- Artificial Intelligence and control: Businesses must take measures so that AI decisions that are being made be transparent. The concern is how to control technology. How to know that your AI is trustworthy? Therefore companies need to make things transparent like the use of “T-Switch”. Whether the switch is toggled to an opaque or transparent setting, helps a lot in control mechanism, as in opaque setting, the activities of AI occur but in transparent mode, AI must give information on its behavior and anything opaque will get blocked.
- Artificial Intelligence and lack of skills: It is a fact that companies who want to take AI advantage must-have a workforce who can understand the new technology and work with it. For instance, today there is higher need of data scientists to work with data and interpretation. To find the right kind of people for technology is a bigger challenge. Any solution? Yes, more and more people undertaking STEM studies in school, and tech industries make an easy way for professionals through university and other educational institutes.
- Artificial Intelligence and legacy system: The big businesses are usually set on legacy systems, and integration of emerging technology is a challenging factor. This is indeed a huge gap to overcome reality and expectations.
Artificial Intelligence in cyber security
The cyber threat is a reality and so you need to find good solutions to it. When a business integrates AI in their system, it becomes easy to resolve cyber threats if any. Bothe the technologies, ML and AI play a significant role in cybersecurity as they deal with numerous information and can decide what is wrong and what is correct.
AI is not just a magic solution, but with the growth of the technology, it will become part of autonomous agents that can define threats, both known and those that never occurred yet. It can effectively focus on risk management and find solutions to any impending threats.
Is AI a risk to the human workforce?
World Bank chief, Jim Yong Kim gave a warning in the year in 2017, that job automation may risk the job of human workforce and risk the ambition of many. With the mundane works being digitized, this fear seems to come true. For instance, Ocado, a retail giant has made a warehouse that is operated by robots and leading to the elimination of the human factor.
Indeed, this going to be a trend in the major sector of the industrial sector that had a good count of jobs. Automation may threat the workforce, so what is needed is enhancing the work profiles of people which will demand job training on various aspects and expertise.
The idea of offering new trainings to people is a good idea, but what about sectors like transportation, where drivers will lose a job with the automation of vehicles? Is it logical to think or imagine that they will be retrained as a software engineer and then take to compete with already people who are engineers? It seems a illogical proposition.
Therefore when jobs are under threat, it is to be ethically looked onto as what is appropriate and what not. Without creating threats to the human factor in the workforce, AI and automation must be worked more, studied and created in a way that they don’t become threats to human.
First become AI- ready
As more and more businesses are interested to make a move towards AI and automation, they must ensure their technology readiness.
The first that can be done is, businesses must make sure that the data are AI-ready. This demands a central data space, from where data extraction and analysis is easy and from numerous resources. Artificial intelligence solutions can take advantage of this to take the necessary measures to do whatever necessary things required.
The purpose of AI integration into business must be a collaboration between human and machines, and not as threats to the workforce.
When businesses adopt this kind of inclusive strategies, with right situations there will be brought solutions and both machines and men can collectively work better, faster and with improved outcomes.
Today, businesses bring out their business app and AI-based tools and software is the preferences. Therefore, companies with mobile app development in Lithuania as well, leveraging this technology to meet people’s expectations.