If computers take over many of our tasks, what will humans do?

All the applications in the entrepreneurship are limitless, and different new uses have been evolved on the weekly basis regarding all this. Powering the artificial intelligence in any company’s management, marketing and any long term strategies can give the business an edge over other companies.

In spite of the widespread use of the evolving technology that is AI. Advancement in the computer technology has increased the growth of the effective machine that can learn algorithms easily. AI cannot easily approach towards the self-awareness sooner, but the AI is improving in the neural networks just like image and voice recognition, process management, problem solving and any sort of pattern recognition. AI is not anymore reserved for the technology oriented companies only but also, the entrepreneurism and the small businesses are also coming into this AI market as well rapidly. 

Most of the research firms are also predicting the fact that 30 percent of the companies will be incorporating the AI by the end of the year 2018 with increase of 13 percent the last year. Rapid increase in such technologies is also giving a boost in every sector. As one move further and learns the basics of AI to assure that the business has the required resources to inculcate all these applications.

Role of AI in Marketing

The machine that can learn algorithms know us very well than we do. The most profitable applications for the artificial intelligence would be the ability to increase the sales. AI algorithms can easily calculate the trends and patterns of user data that can open up the gateway to the effective marketing to inform the strategy of your content.

For instance, it’s been cleared from a report generated from Harvard which scanned through the chat logs for the relevant words and phrases which relates with the promising sales that can improve the success ratio by 54 percent.

AI algorithms are also provided by the social media activity like Amazon’s recommendation system to point out the purchasing norms for the end users. Instead of using the memory based marketing algorithms; the Amazon CEO Jeff Wilke uses the behavior tracking AI. For price determination AI can also be used- due to which an algorithm can also track the available market trends by analyzing the suitable price for profit margins optimization.

AI replaces Humans

The available AI algorithms can also replace the human labors on different tasks which can save a lot of time, the money and all the available resources for other utilization. Whereas doomsayers see this as the robotic takeover and unintentional loss of employment, most of the entrepreneurs are having a practical view about it.

AI can be the perfect complement to the human laborer. The presence of technology can shorten the administrative tasks which can permit the humans to get busy in the more creative and imperative areas. No matter what companies must empower their employees to be able to take on the spot decisions and should stand upon their own feet in every aspect regarding businesses. By freeing your employees from such nitty gritty tasks can help them in engaging their time and efforts in some other productive big projects which is only humanly possible.

Sentimental Analysis and Emotional Gauging

 Human emotions can be the biggest barrier for the AI, but even this issue has been catered by the technology which is called as sentiment analysis. By using the different surveys, different available image recognition softwares, the social media and other techniques as well, those algorithms which are solely dedicated for the sentiment analysis can reliably generalize the human perspectives on the different topics.

Due to this sentiment analysis, the businesses can easily predict the behaviors. By using this technology one can gauge the public’s opinion on certain policy announcements such as this technology was also used in the President Obama’s 2012 election campaign as well. 

Efficiency of the Business Processes

If the businesses improve their daily routine operations then the business can grow even more rapidly, and those algorithms that are machine learning can perform even better. AI has the ability to analyze the supply chain management as well as workflows for the identification of the different areas to be improved. To maintain a streamlined of workflow, various resources are used more efficiently and the other cost related lost time, redundancy and maintenance are also reduced.

With the integration of the AI, the manufacturing sector also benefits substantially. 20 percent increase in the production has been reported by the Forbes magazine with a little drop of 4 percent in the raw materials for the operation manufactures due to which the AI integration into the business process management.

Making it sure that all the work related tools should be available before investing in any AI applications.

Author Bio: This article has been written by Susan James who is a research scholar, a blogger at do my homework for me | A-OneAssignments.com and a news reporter.