TOP 5 BENEFITS OF USING AI (Artificial Intelligence) in BUSINESS

Businesses are swiftly transforming towards digitization, and handling all the involved processes is impossible when it got executed manually. Having a powerful alternative or substitute would do the favor that helps organizations to focus on their core development activities.

After years of careful analysis and deployment AI (Artificial Intelligence) has now become the find of the century and will create an impactful transformation amongst industries in the upcoming decade. This blog section will depict the reason why an organization must implement AI in its operations?

Most importantly, this write-up will guide students to have better clarity on AI and its real-time usage with benefits that makes them informed decision-makers while choosing a career path with this technology.

What exactly is AI?

AI (Artificial Intelligence) is a technology that intends to improve the brilliance of computers and make it fit enough to become the perfect replacement of humans to carry out repetitive, time-consuming works happen in their daily life and contribute directly or indirectly to their productivity.

Benefits of AI:

15% of website users communicate with chatbots to know about a business

1. Better customer service:

Satisfying customers will be the primary motto of any organization despite their size and industry and maintaining the success in this was hugely dependent on humans all these years. Now, technology in the form of AI has come into the play, and chatbots are doing well by providing error-free customer support 24/7.

96% of global HR people believe that AI can help in better recruitment

2. Recruiting the fittest:

Organizations, hiring agencies, and talent acquisition experts are still finding it difficult at times to recruit the right candidate despite the improvement in the exposure they avail at present. Having an assistive tool would definitely reduce their pressure and helps them to focus on other aspects, and AI would be the right fit here. Filtering to the core is what AI does to select the right candidate within the stipulated time, which cannot be achieved by humans.

Businesses believe that AI had brought 14% increase in delivering personalized experience to online clients

3. Deliver personalized experience to customers:

Today we are living in the age of data, and every one of us is turning to be unique and special for brands demanding personalized experience while accessing a product or service. It requires in-depth and accurate analysis of data which can be done only by AI.

AI-powered tools can help businesses to read their user's and customer’s mind and deliver the appropriate service they need by collecting related data of their purchase behaviour.

AI-based forecasting can reduce up to 50% of organizational errors

4. Make better forecast:

Forecasting results have always ended up in a 50–50 success ratio until the advent of AI now you can better forecast your market, sales and also the demand for human resources. AI helps your analytical team with better forecasting results and improves your business decisions.

By 2030, AI will bring in 120% of increased revenue to organizations with a new set of workforce in different roles

5. More career opportunities:

Even though AI eliminates human workforce in certain areas, still it creates a lot of new employment opportunities comparatively which delivers benefits for us (humans) in multiple ways. It builds more employment stream and also gives us a chance to up-skill our talent.

Endnote:

Elewayte provides you with an excellent internship opportunity in AI where you can learn more about this technology, its technical deployments, and become a renowned technocrat. AI opens the gate for several employment opportunities since organizations are rapidly moving to advanced digitization, hence the students need to know where their learning will get deployed in industries.