While artificial intelligence (AI) has become such a buzz word in today’s workspace, it is easy to assume that AI can resolve every problem a business might have. In many ways AI can be a blessing to companies and make all their dreams come true. However, it can also be disruptive and potentially have fatal consequences for companies if it is not carefully handled with the right intensions. To avoid this, executives must begin to ask themselves if artificial intelligence is capable of serving their business in a positive way. By doing this assessment, it can be determined if implementing AI is the right choice and how AI can best serve the business’ needs.
Disruptive AI vs. Beneficial AI
Technological evolution is almost always a neutral phenomenon. It is humans’ way of turning this into something positive and putting it into good use or lack thereof, that is the real issue. When Helmut Newton discovered the third law of motions, it was probably not meant to be used to develop weapons. The same goes for AI. It is not meant to disrupt business. If we fail to align AI goals precisely with ours, the outcome can have disruptive consequences for businesses. Imagine this: If you ask an intelligent car to take you to the airport as fast as possible, it might get you there chased by the police and helicopters; thus not doing the task precisely how you want it, but still giving you what asked for. This is an example of not having a clear idea how AI can serve your business in the best way in order to avoid unnecessary risk and costly mistakes. On the other hand, imagine the same scenario but this time, the car takes you as fast as possible to the airport without the risk of receiving a speeding ticket. Because you have provided precise communication for your journey and, you are more likely to have the task completed as you want it. This is how AI can be beneficial and give you exactly what you need to solve your business challenges. When you understand how AI can help and what information is required to give you what you need, AI will be beneficial in serving your business needs.
Here are 3 ways to determine how AI can best serve your business:
1.What problems can AI not solve?
In its current form, AI is not the magical answer to all companies’ problems and issues. It does not have the mental common sense needed in human decision-making. Thereby AI can be defined as a form of soft intelligence that can learn basic tasks. Once you establish what you can not solve with AI, you will see what you can do with AI and which parts of your business can benefit from it.
2.What processes can be made more efficient?
It is not necessary to make large investments in artificial intelligence. Instead of trying to integrate AI into all aspects or perspectives of your business, try to figure out where AI can have the fastest and biggest effect. This can be done by thinking of your day-to-day and week-to-week schedules. Do you have any tasks that feel repetitive? If yes, there is a fairly good chance that AI can relieve you of them, thus help you become more productive.
3.How will Artificial Intelligence affect your businesses ROI?
While some technologies may lead to a lot of great improvements, it can still increase complexity, and this unfortunately comes with higher costs. The result: Even though you become more efficient, you are losing money. An alternative is small scale implementations which are less transformative but easier to implement, operate and still have a great effect. This process allows for making smaller improvements overall, seeing less time wasted and help keep initial cost down which will affect your business ROI positively.
Today’s rapidly fast growing technology and improvements within this area makes AI available in almost every industry. Without a doubt AI is changing the way companies work already. By having a critical and analytical approach to how artificial technology can serve your business, AI may very well be within your reach and hopefully AI will become your friend not foe.