Artificial intelligence (AI), in the field of business, is characterized by an autonomous computer program capable of learning and giving orders to an executor. According to Les Echos, there should be an increase in national productivity of more than 20% by 2035 thanks to AI. It has gone through many stages, until it has reached a stage of evolution that can go beyond man, and thus become more efficient in certain areas of the company.
The current use of artificial intelligence
The arrival of these intelligences is upsetting the functioning and principles of management. They assist humans in their analysis and decision making, making them very efficient, and can even replace them in certain functions. Present in all fields, competition is becoming a major risk. Employees must therefore tackle tasks that require higher added value, requiring creativity and reflection that AI does not yet know how to do.
In management, such valuable help
In accounting management, it is often done through software that allows to establish invoices, to follow the customers or to keep the accounting itself. It works by learning the data contained in the information systems, deducing recurring patterns, comparing them to larger databases that allow it to make decisions or even give advice. Intelligence can even be used, for a bank for example, to detect accounting and financial anomalies. The program will learn and analyze the data to report everything.
In product management, it is capable of automatic recognition. A simple photo is enough and the characteristics will be automatically entered into your database. If you want to go further, technologies exist to write texts from raw data or Big Data. Thanks to the photo, you will have in addition a description text which will be written by itself.
Several types of use are also possible such as the automatic determination of production BOMs, an automatic online customer support, the determination of the departure of an employee or the anticipation of crises and market recovery.
Artificial intelligence also plays a role in the company’s human resources and management. It is responsible for recruiting, managing and evaluating a company’s employees. It favors flexible and versatile profiles. A Harvard Business Review study shows that AI remains 25% more reliable than a human being in evaluating a job candidate’s file. Choosing to use Riminder, for example, makes it possible to efficiently process 5,000 CVs in 23 seconds!
Big companies like Microsoft, IBM or Google are launching an offensive to provide artificial intelligence to companies. Many of these giants would not be at this level without AI like Amazon or Uber.
It still has to evolve to become able to take more and more things into account, and to have a human-like thinking. However, its role today is to bring productivity gains to free up strategic resources. Still, human beings remain indispensable; artificial intelligence cannot yet replace the employee in all areas!
What about your company, where is it?
The use of artificial intelligence will considerably reduce your operating costs. They will help you in your decision making thanks to their analysis capabilities. Their use has become essential. Here are three steps to prepare you for the transition to AI.
It is important to be well informed on the subject. Indeed, it is possible that you already use products based on artificial intelligence without being aware of it. Narrative Science has published the results of a survey revealing that only 38% of respondents thought they were using products based on artificial intelligence. In fact, 88% of respondents actually used AI. 50% of people were therefore unaware of using these intelligences. This is due to their ignorance of the integration of artificial intelligence. Knowing their presence is therefore an important factor.
You then need to understand how artificial intelligence will facilitate your daily business and management activities. Look for what you want to improve such as your production, reducing the number of employees or improving your algorithms. There are many possibilities. Targeting your needs in order to efficiently choose the AI you will use is crucial.
Once the artificial intelligence is installed in your company, it is very important to promote the good management of your data so that everything is well organized. These systems are particularly effective when the data to be processed is well organized. Tidying up rigorously before the arrival of AI will already give you an interesting idea of the trends in your business and your customers. You will already have a first basis on which to build later.
Artificial intelligence is therefore an essential factor for several aspects of the business. It brings a real advantage over those who do not use it. AI will continue to evolve in the future and become even more efficient. At this stage of its development, man is still fundamental within the company because he has capabilities that artificial intelligence does not yet have. Harmonizing artificial intelligence and employees within your company is your challenge as a manager.
Would you like to discuss how you can use AI in your business? Contact us today.
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