How Will AI Impact Your Business in 2019?
2019 is going to be the year of AI, with many businesses switching to AI-powered security suites, document processing, data analysis, and more.
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2019 is going to be the year of AI, with many businesses switching to AI-powered security suites, document processing, data analysis, and more. At its core, AI is about automation and augmentation: it improves upon and speeds up many of the core processes of a business. Whether your business uses AI or not, it's going to be impacted by artificial intelligence in 2019. It's important to know how.
Your Competition Is Already Using AI
As of early January, 61 percent of all businesses had already started implementing AI-based technologies. Even if you aren't using AI to streamline your operations and reduce your costs, your competition is. Your competition could be using artificial intelligence to improve their selling techniques, reduce the cost of their quotes, or simply make life easier for their employees. And that means that if you don't have AI, you're likely falling behind.
AI Is Being Introduced to Nearly Every Segment of Business Technology
Artificial intelligence, paired with machine learning algorithms, is being introduced to large sectors of business technology. Next-generation systems are all incorporating AI for their automation and analysis, including:
Next-generation security solutions are able to use AI technology to identify the behavior of potentially malicious programs. This is especially important in a world in which cyber security is becoming an increasing concern. Filestack provides AI-driven virus detection, which is able to identify potential threats in this way.
Optical Character Recognition
OCR technology is able to digitize and manage documents quickly and consistently for a business — and AI technology improves accuracy and adds features, such as categorization and tagging. OCR can easily take the place of a substantial amount of administrative work for a business.
Facial Recognition and Object Detection
AI is now advanced enough to be able to match faces and objects, which can have ramifications for a number of business applications. Facial recognition can be used to identify individuals for the purposes of security while object detection can be used to categorize and analyze photos.
Data Analysis and Pattern Matching
Big data often cannot be analyzed by human eyes as there is simply too much information available. Being able to analyze large data sets can improve upon inventory and warehousing systems in addition to streamlining logistics and shipping.
Simulation and Data Modeling
Once data has been appropriately collected and analyzed, simulations and data models can be presented to identify the potential outcomes of choices before actually embarking on them — making it easier for organizations to test large, institutional changes such as new shipping routes.
Anything that involves crunching large amounts of data or sets of discrete tasks that need to be performed can be boosted by the presence of artificial intelligence. In general, your business is going to see AI coming to a lot of your technology options — and it's going to be up to you to take advantage of these new, revolutionary technologies.
AI Reduces Costs and Streamlines Operations
Why is AI proliferating so quickly across all spectrums of business? AI takes the place of human workers; every time AI is implemented, it reduces costs. AI can even do some things human workers simply can't, such as analyzing extremely large and complex sets of data.
As your business begins to implement AI, your business will find that all of its operations are faster and less costly. Businesses implementing AI should see a marked decline in their overhead and may even be able to reduce the size of their physical offices.
Of course, the major ways artificial intelligence may impact your business will stem from your company's unique operations and needs. It's not always easy to find the best ways to integrate new, advanced technologies into your existing workflows — but in order to remain competitive, you have to.
Published at DZone with permission of David Hoffman, DZone MVB. See the original article here.
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