Artificial intelligence, or the development of computer systems and machine learning to mimic the problem-solving and decision-making capabilities of human intelligence, impacts a wide range of business processes. Organizations use artificial intelligence (AI) to strengthen data analysis and decision-making, improve customer experiencesgenerate content, optimize IT Operationssales, marketing and cybersecurity practical and more. As AI technologies improve and evolve, new business applications emerge.
Artificial intelligence is used as a tool to help the human workforce optimize workflow and make business operations more efficient. These gains are achieved in a variety of ways, including using AI to automate repetitive tasks, generate insights based on machine learning algorithms, quickly process large amounts of data sets and extract meaningful insights, and predict future results based on data analysis. AI systems power several types of business automationincluding business automation and process automation, helping to reduce human errors and free up human labor for higher-level tasks.
According to McKinsey & Company, the use of artificial intelligence in business operations has doubled since 2017.1 This is largely because AI technology can be customized to meet an organization’s unique needs. 63% of those surveyed by McKinsey expect their investments in AI technologies to increase over the next three years.2 To use AI in a effective business strategyan organization must have a clear understanding of its business functions, how AI works, and what aspects of the business can be improved through AI implementation.
While using AI tools to automate repetitive tasks and increase employee productivity While AI remains popular, businesses are also moving beyond these use cases and using AI to contribute to higher-level strategic initiatives that help drive broader business value.
