Artificial intelligence: an opportunity for business?

Artificial intelligence: this is a subject that is causing concern and a lot of ink to flow. How can companies use it to improve their management system and their turnover?

For the third consecutive year, the think and do tank Impact AI, accompanied by IFOP, has published the results of its study on the awareness and image of artificial intelligence (AI) among the European. This survey highlights the ubiquity of artificial intelligence, since 91% of European people have already heard of it. 1 out of 2 European people even declare to know what it is precisely. However, only 27% of them say they use AI-based products or services in their personal life. In their professional life, this figure drops to 16%.

For the European, AI is a blurred and sometimes threatening image

These figures are significant for the difference between the perception that the European have of artificial intelligence and the reality of their use. More than two thirds of European people say they are poorly informed about the possibilities offered by AI, especially in the health (66%), environment (69%) and education (70%) sectors. However, 76% of them are aware that AI will be constantly present in the future and 2 out of 3 employees would like to be more aware of the consequences and applications of AI at work, aware of the stakes. 44% of European people believe that AI has rather positive consequences on work performance, 42% on the evolution of skills and 40% on well-being at work. On the other hand, 42% think that AI will have rather negative consequences on the durability of their jobs, which is gradually fading away.

The health crisis has changed the situation

Since the beginning of the health crisis, 21% of European people have a better opinion of AI. 47% think it is becoming more important in the field of health and 43% in the field of work organization. 73% of European people say that the development of a trusted AI is an important, even essential, issue. In fact, 64% (+6 points vs. 2019) already trust it.

According to Agnès Van de Walle, President of the Impact AI collective and Director of Partners and Start-ups Microsoft Europe.” If the health crisis has accelerated the uses of digital technology, this new edition of the Impact AI barometer shows that it has also contributed to changing the perception of the European towards artificial intelligence. Whether in their professional or private spheres, the majority of European people now consider AI as a way to progress, as long as its uses are made in a framework of trust. In this sense, our collective has already been committed for 3 years to the development of a responsible AI, which represents a major challenge for the European and society as a whole.”

Artificial intelligence: what’s in it for companies?

Smart business, Big data or Artificial Intelligence are all terminologies that designate the application of modern and powerful technologies to process data specific to the company. This processing is done automatically and largely exceeds the efficiency and precision obtained by a human brain.

A company produces nearly 2.5 trillion bytes of data every day. This is especially true for companies that do most of their work online, such as Yahoo, Google and Facebook. For these companies, the use of new technologies allows a more assertive presence on the labor market, which has become increasingly competitive.

Artificial intelligence allows faster decision making in all areas: customer service, marketing, management, etc. This entrepreneurial initiative has proven its success with the giants Microsoft, Apple and Amazon.

What is artificial intelligence used for?

Many companies have integrated artificial intelligence into the heart of their organization.

This has enabled them to:

  • Better analyze and decipher market requirements
  • Create innovative products
  • offer new services adapted to customer needs
  • Offer services that are halfway between the company’s interest and the customer’s needs
  • Introduce products and services to the market quickly to challenge the competition
  • Establish a strong relationship with the customer
  • to benefit from a consistent interest margin.

This analytical process allows a better management of the company’s data. Let’s take the example of one of the European leaders in the hotel industry, Accor. In 2013, the group adapted the RTD (Real Time Decision) software solution into its business strategy. This technique allows to direct the Internet user to the offers of the group’s sites in real time. As soon as this revolutionary technique was applied, the rate of online hotel and vacation reservations exploded. A success that promises even more extraordinary growth in the years to come.

What is the future of artificial intelligence in business?

One thing is certain, the use of artificial intelligence within a company is far from being a fad. Having fundamentally changed work techniques, this process promises a flourishing future. It is difficult to imagine that companies can suddenly do without it, given the time and money saved by this technology.

Nevertheless, it remains obvious that these techniques cannot remain unchanged over time. It is therefore difficult to establish standards for artificial intelligence as its techniques are constantly evolving in parallel with the development of computer programming.

One thing is certain: all the companies that have not opted for these techniques will end up regretting it in a few years. Imagine a high-speed train competing with a traditional train! From a competitive point of view, only companies that have adopted innovative technologies can exist on the market.

Let’s take the example of online chat: Zopim or Twak. A company that uses this type of software can perfectly manage its relationships with customers. Only companies that add to this process the artificial intelligence test called “Turning”, a pre-sales service that advises customers, will be able to really say that they offer a good customer service.

According to the CSA institute for a survey for Europe inter and Liberation, artificial intelligence presents opportunities for daily life, but 47% of European people consider that AI is a threat to privacy protection (70%) and to employment (64%). 48% of working people think that their work could eventually be done by a machine, a figure that rises to 68% among young people. The future will tell us if these fears are justified.

Would you like to implement artificial intelligence to your business? Contact us today.

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