Artificial intelligence is an “invisible” technology that allows making machines and many processes smarter. Machine learning, computer vision, deep learning, language processing, and neural networks – these are only a few development trends of the vast AI sector. Nowadays, artificial intelligence is used in many spheres, including business.

 

Practical application of AI in business

AI for business is used for solution of different problems depending on the needs of the organization and analytical conclusions made based on the obtained data.

AI technologies can be applied for:

  • detailed analysis of company;
  • attraction of potential customers;
  • reduction of costs and increase of revenues;
  • improving quality of customer service;
  • control over the fulfilment of everyday tasks;
  • finding the most beneficial development strategies;
  • optimizing business processes in general.

 

Problems of implementing AI in business

According to the data from Wakefield Research, artificial intelligence will bring revolutionary changes to business in no less than three years. But meanwhile, only 10% of companies use AI tools.

Reasons that cause the artificial intelligence to get implemented very slowly:

  • necessity to integrate AI tools in already existing processes and technologies;
  • lack of professional specialists, employees have to undergo special training;
  • difficulties of interpreting obtained results;
  • high cost of the implementation of artificial intelligence projects.

 

AI – a long-term strategy

Despite all the above mentioned obstacles, AI solutions are being actively implemented in all new IT developments. According to Luke Tang, representative of Techcode that is currently dealing with the new Global AI+ Accelerator project, the use of AI tools can drastically change such business processes as planning, allocation of funds, accounting, production control, etc.

AI solutions open up huge opportunities. But one has to prepare his business to transformations from the organizational and technical point of view, as tangible result will be obtained only in case artificial intelligence is used in the long run.