Today, artificial intelligence (AI) is an area of increasing interest. However, despite this fact, misunderstandings about AI still exist.
For example, in some respects, artificial intelligence innovation has a negative impact and is considered to be almost a bad signal. This misunderstanding is due to content from the Hollywood and other countries’ film industries. It likes to draw AI in a dystopian way: as a robot, it makes us unable to work, replaces friends and family, and ultimately eliminates all humanity.
The depiction is inaccurate and may be a bit pitiful.
On the contrary, the good news is that AI is not necessarily negative. In some application areas it is expected to make work a better and less stressful experience. Consider the following areas of evidence that show that AI has become a powerful tool, not a warning for science fiction.
Human resources artificial intelligence
The responsibilities of the HR department include recruitment, training and development, compensation and benefits, compliance, and supervision of other related responsibilities.
Recruiting difficult and stressful employees is a special area where human resources can benefit from artificial intelligence. There are thousands of applications for a single position, so it may be difficult for HR staff to conduct a detailed investigation of the applicant and determine the potential beyond the resume.
However, deploying AI here saves time and reduces tedious work. If the AI program is designed to filter and isolate applications based on established criteria, HR employees can do the rest when the amount of application is reduced. This saves time and reduces the amount of work.
Timing is one of the most important factors in a company’s success. In fact, it accounts for 42% of the difference between failure and success. Therefore, it is not surprising that many companies are looking to integrate AI into time management and improve the accuracy of accurate predictions based on available new and historical data.
Therefore, the goal of AI is to enable these organizations to make optimal timing predictions, maximize resources and minimize waste when needed most. Full implementation of AI in this critical area will have a significant positive impact on the business.
Artificial intelligence customer service
Customer service reputation can bring or undermine corporate reputation. This is why customer service is an important part of the business. However, dealing with a large number of calls every day, complaints and inquiries are time consuming and cumbersome.
Today, your business no longer needs to adopt a traditional approach. Conversely, the increased efficiency provided by AI can ease the burden and stress.
Chat bots are a classic example of improving customer service performance. Chatbots allow you to engage in meaningful conversations with a large number of customers, so you can manage them efficiently and easily.
As a result, the company’s reputation has increased. This is because people appreciate the company’s customer service department’s quick response to requests.
Portfolio Management AI
Portfolio management is another area of application that directly affects entrepreneurship. If you are an investment management stakeholder, you can rely on AI applications like RoboAdvisor to provide reasonable financial advice. These applications can help you manage your portfolio with little manual effort and often reduce commission costs.
These applications work with algorithms designed to create financial portfolios that meet the investor’s stated goals. AI also considers customer risk tolerance as part of designing an appropriate portfolio. According to Forbes author Rob Burger, “robot consultants make investment easy.”