Article (March-2018)


AI : Why and where is the need?

Zaheer Adenwala

Designation : -   CTO & Co-Founder

Organization : -  Mumbai


10000+ View        

Artificial Intelligence is soon going to take over the business world with all its added advantages. We can see many businesses welcoming up artificial intelligence (AI) technology to reduce operational costs, increase efficiency, grow revenue and improve customer experience.
We live in a superfast and digital era, all thanks to technology. With ever evolving technology at our fingertips, it should come as no surprise that every facet of our lives is now becoming dependent on increasingly complex devices.
Artificial Intelligence is the simulation of human intelligence processes by machines, especially computer systems. It is commonly known as narrow AI (or weak AI), in that it is designed to perform a narrow task, right from facial recognition to internet searches.
Today the internet and artificial technology are a necessity rather than a luxury. Welcome to the new world of ambient computing. Welcome to the new reality of the 21st century business environment - that is quickly adapting to Artificial Intelligence (AI) to solve problems, make an office more efficient and usher in the new era of your Association.
Let me explain how artificial intelligence will be impactful for your overall business. Here are some of the advantages :
  • saves time and money by automating routine processes and tasks
  • increases  productivity and operational efficiencies
  • makes  faster business decisions based on outputs from cognitive technologies
  • avoids  mistakes and 'human error', provided that smart systems are set up properly
  • uses insight to predict customer preferences and offer them better, personalised experience
  • mines vast amount of data to generate quality leads and grow your customer base
Despite major developments AI technologies are still struggling to break into business processes. Embracing this new technology will be bit crucial. The rise of robotics presents the perfect opportunity to up-skill the workforce, providing workers with the freedom to upgrade their skill set, because robotics take the strain on those tasks which were once restrictive, mundane or time consuming. It will be a great HR tool as well. Companies will benefit to a lot if they adopt AI into the workplace. For instance, AI can improve a video conference. AI recognizes when a person in the room is speaking and automatically reframes the camera on their face. AI can then identify the person, name and title and will eventually be able to import relevant social media data - such as a LinkedIn profile - to share with all other participants. (AI can also eliminate annoying background noise - that barking dog - or the user who is typing while on the call, and then mute their line).
AI is also a proactive participant in this meeting and when called upon, can call up relevant information that is pertinent to the conversation. Artificial intelligence is reshaping the way that companies manage their workforce and make HR plans, which increases productivity and employee engagement in general.
Using AI, you can remove tons of stressful and monotonous work from your HR managers. Namely, talent acquisition software can scan, read, and evaluate applicants and quickly eliminate 75% of them from the recruiting process.
 Additionally, companies can save a lot of money this way because they don't have to pay the cost of poor hiring decisions.
Hiring the most promising talents is not the only concern of HR departments. Adaptation is the second step in the process as many prospects can't fit in the new environment due to lack of onboarding procedures. Namely, new employees demand a lot of attention and it is often impossible to dedicate enough time to each one of them.
That's where AI steps in - it determines customized onboarding procedures for every single position. This proved to be extremely productive in practice since new workers who went through well - planned onboarding programs had much higher retention rates than their peers who didn't have the same opportunity. Again, with so many technological changes happening almost on a monthly basis, it is crucial for all employees to keep learning and improving professional skills. AI can successfully plan, organize, and coordinate training programs for all staff members.
Online courses and digital classrooms are the most common solutions in that regard. But this is not the only job of AI because it also determines the best timeframe for new courses and schedules lessons so as to fit the preferences of all employees individually.
Engagement and productivity are essential qualities of successful professionals. However, most companies are struggling to find individuals who have those traits. That's why it is easier to monitor their behavior and analyze key performance indicators.
By using AI tools, HR managers are enabled to set concrete objectives and let all units work in smaller increments. This type of work is easier to follow and assess and it generates better overall results. Of course, it doesn't only serve to improve productivity but also to detect team members who show lack of engagement continuously.
As much as it is difficult to hire talented employees, it is as difficult to keep them in your team. This is why almost 60% of organizations consider employee retention their biggest problem. However, AI can analyze and predict the needs of staff members.