Artificial intelligence (AI) is increasingly penetrating the business world in many uses and applications. According to IBM’s 2021 Global AI Adoption Index, up to one-third of companies utilize AI somehow, while many others are exploring the possibilities of integrating AI in their daily processes. This accelerated growth can largely be attributed to the pandemic.
In addition, development companies creating AI solutions are on the rise and more accessible for both consultation and actual development services. The advances in AI programming tools and languages have also played a role in the accelerated growth.
Considering the benefits of AI in business, the widespread adoption is not surprising.
AI Applications and Uses in Business
These AI applications in business will help you understand why the technology’s growth and adoption might not slow down.
Smarter Business Operations
Development companies providing AI solutions are continuously advancing their development capabilities. This ensures that you can integrate AI solutions across the entire business cycle from administration, finance, legal, human resource, team collaboration, among other business functions. The best part is that you can make these solutions a part of the existing business software.
The result is a more intelligent approach to business processes and functions. Issues such as customer query handling are automatically routed to the most suitable agent to handle a case. In retail, you can use AI to monitor inventory or detect breaches in IT and create an alert system or patching.
Safer Business Operations
Numerous industries such as construction, mining, agriculture, utilities, and others use AI integrated into the Internet of Things (IoT) to collect data. This data is used to identify anomalies, dangers, or opportunities worth exploring. This information is used to forge a way forward without endangering anyone in the process.
Customer Support and Experience
This is one of the most common applications and uses of AI. Chatbots are the simplest example of an AI application in customer support. They ensure that a business attends to customer requests around the clock. The best programming language for AI coupled with Natural Language Processing (NLP) produces chatbots that understand customer requests and provide appropriate answers.
In an upshot, AI use in customer support helps to streamline customer services and experience.
Hiring and Recruitment Processes
The hiring and recruitment processes are some of the most laborious processes a business undertakes. It involves manually sorting job applications which can consume a lot of time. In addition, there’s a likelihood of human bias and errors that may result in discriminatory practices. Worse still, you may end up with a wrong choice forcing you to start the process again.
However, with AI software, you only need to set the parameters of the candidate you want, and the process is automated, selecting the most suitable candidate. Since you can program AI to remove all personal identifying data, the process is unbiased.
Although most industries have adopted AI, some industry-specific uses are more pronounced than others. Here are a few of them:
- AI in E-Commerce
In retail and eCommerce, AI is used to create personalized shopping experiences for better customer engagement and retention. It’s also used in AI-powered chatbots and assistants embedded with NLP to improve customer experience by mimicking a human conversational tone.
- Oil and Gas
One of the significant problems in the oil and gas industry is anomaly detection in oil seeps. But with AI and machine learning in oil and gas, it becomes easier to detect defects in the pipelines before they cause huge losses and damage.
- Healthcare Industry
The healthcare industry is perhaps one of the biggest adopters of AI, where it is used to diagnose and interpret patients’ medical histories. It’s also being used in drug testing and development processes, dramatically reducing the time it takes to develop a drug successfully.
No one can overlook the uses and benefits of AI across industries. It offers much-needed assistance to humans by streamlining workflows and eliminating repetitive and laborious processes.