The Top 5 Artificial Intelligence Will Improve Your Business Operations
More companies than ever are spending their revenue on artificial intelligence. It’s time to get your company onboard with this trend that’s not going away anytime soon. According to the International Data Corporation (IDC), the AI industry has boomed at $12 billion and could rise to as much as $57.6 billion by 2021.
Some fear that jobs could be replaced by artificial intelligence and robots. But, fear not, because the use of AI and human employees is imperative to your business. With the right tools, AI can improve communication in your business meetings, speed up your hiring process, and increase productivity among your employees. Here are five ways that AI can improve your business. Consider trying some of the following AI developments to help your business operations.
Faster Hiring Process
Businesses will get better and faster at hiring employees. Artificial intelligence has changed the way that companies find candidates and hire new employees. Automation helps companies hire workers faster, especially in positions where jobs take longer to fill.
Creating resumes have become easier than ever. Companies speed up the hiring process by using automated tools to comb through each resume for specific keywords that fit the job description. This allows them to search through hundreds of resume that match their keyword criteria. Companies can now target the right candidates instead of wasting time hiring the wrong people.
Technology isn’t making businesses lazier, in fact, it’s quite the opposite. Businesses are passing off their mundane and tedious tasks to robots, virtual assistants, and automated tools. It frees them up to focus on the important components of their business, such as training employees or building relationships with clients.
Reduced Wage Gaps
Thanks to AI developments, businesses will eventually eliminate the wage gap issue. Thanks to AI and predictive analytics, companies around the world can remove the bias associated with compensation. AI that is based on a wide variety of factors, such as certifications, education, experience, and others can make compensation fair. This can close the wage gap over time.
The use of AI technology will make pay fair among sexes to reduce employee turnover, which costs businesses 33% of a worker’s salary to replace those lost employees.
Improved Business Meetings
Augmented Reality (AR) is still in its humble beginnings, but AI and machine learning can develop to its full potential. Machine learning recognizes what a customer wants and can even identify customers who aren’t customers yet. AR can help workers locate the right information quickly, and make them important business decisions.
Companies that use video meetings and digital workplaces will use talent profiles thanks to AR technology. This allows them to get to know their employees and develop a specific communication style with them.
Better Business Leaders
Businesses will become even better leaders thanks to an AI tool called “indi.” It acts like a human brain, in which it absorbed all of the necessary information about your company. It also uses an algorithm that determines how much time has been wasted by analyzing the size of your company.
Then this AI tool determines your company’s goals and top priorities, and how it relates to your company culture. This AI tool will help you determine whether or not your company is meeting its goals or not. Not only does it help you become a better leader, but it also helps you make better decisions. It’s like having a business expert by your side.
Don’t expect these changes to take place overnight. It’s up to you, the marketing head, to embrace these changes within your own business or corporation. If you incorporate some or all of these technologies, then your business can greatly improve with months. It’s good to test out a few of these technologies to see which ones benefit your company’s goals.
It could take a full year until you see big changes within your organization. As the head of your corporation, you want to keep an eye on these trends so you can take advantage of them as soon as they become available. It’s important for business owners to be aware of these changes so they know how to implement them within their own organization.