Ever since the evolution of technologies ,Innovations and start-ups AI and automation is changing the business environment across industries, delivering new opportunities through intelligent, automated products. Some companies are ahead of the curve, and others are stagnating in their adoption of the tech.
With the general rise of this technology into business operations also comes challenges, dangers and potential risks to the human workforce. This feature will examine all these aspects, and hope to give an overall look at AI and automation in the enterprise.
ai is it necessary?
Definitely , AI will boost productivity in business and will allow to cut cost increase agility and flexibility, and spur innovation.
Implementing this technology in right manner will allow businesses to grow revenues, product lines and offer differentiated customer experiences.
“A report from Accenture, which was released yesterday, has found that rapid advancements in technologies – including AI– are enabling companies to not just create innovative products and services, but change the way people work and live.”
AI and automation stands out from other technologies, in that it will help advance those other technologies into the mainstream business environment. For example, AI will advance IoT. It will be “indispensable in processing the large volumes of data that arrive from devices”.
With networks powered by AI and machine-learning, the workplace becomes less tangled up in complexity and repetition, and more agile as a result; something that is greatly needed as our business world becomes increasingly borderless and far more competitive.
A 2018 survey by Spiceworks found that 50% of organisations have not implemented AI due to the lack of use cases in the workplace. And a further 29% noted that security and privacy concerns hold back AI adoption, with concerns around costs following close behind. From this perspective, the challenge of integrating this technology stems from a fear of the unknown, rather than anything practical.
“The disruption caused by AI will take place in three key areas: point of entry (incident and request creation), automated backend processes and knowledge management.”
Will ai pose a risk a job?
It is true that the more mundane, task-led jobs are being digitised. Retail giant, Ocado, for example has created a robot-operated warehouses, where the human element is in-part eliminated.
In the UK, a Deloitte study of automation showed that whilst 800,000 low-skilled jobs have been eliminated, automation created 3.5 million new jobs. Those jobs paid on average nearly $13,000 more per year than the ones that were lost.
Some jobs are certainly under threat whether this is right or not falls under ethical AI discussions the human element to the workforce is not, by in large, under threat. Technologies, like AI and automation, need to be overseen, programmed and analysed.
GETTING READY FOR AI
First and foremost, businesses must make sure their data is AI ready. This requires a central data hub, which is capable of extracting and analysing data from multiple sources AI solutions can then make effective use of this full picture to deliver customer engagement strategies, or whatever insight that needs to be garnered.
Building AI into the foundation of the enterprise is also key. To embrace the possibilities that AI is already offering and will offer in the future, enterprises need to go on a journey to rebuild and reimagine themselves on an AI-powered foundation, a collaboration between man and machine.
If this new AI-led business strategy is adopted in the right circumstances to solve the right problems, it will help businesses become better, faster and more agile than ever before and allow them to overcome natural limitations.
AI A PRIORITY
Under the right set of circumstances, the umbrella of AI can ease the increasing pressure on boardrooms while helping provide incredible value to customers. “The technology allows businesses to save money, make money and manage risk, three of the most important motivators for any boardroom.
Outside of the private sector, the emphasis on AI is very much a priority for the government. This was demonstrated last year when the Department for Digital, Culture, Media and Sport (DCMS) announced that 50 leading technology companies and organisations have contributed to the development of an AI deal worth almost £1 billion, including almost £300 million of private sector investment into UK sector.
The meaningful and transformational value created by the implementation of AI and automation means its integration is now a top priority for both boardrooms and governments across a variety of sectors.