How Modern Businesses are Utilizing AI

There are numerous technologies that come to define the point of time in which they were developed: the printing press, the light bulb, the automobile, etc. We now live in a time where new, and potentially transcendent technologies seem to be a dime a dozen. In the past twenty years we’ve seen the development of the mobile device, broadband technology (both wired and wireless), social media, blockchain and cryptocurrency, all the way to self-driving cars. However, none of these technologies has the promise that Artificial Intelligence has. 

What is AI?

The AI that we see in modern business isn’t the same AI that we see portrayed by sentient robots in the movies. This is without a doubt a good thing, but with each passing day more AI is being utilized for business. AI and machine learning (ML) are the underlying processes of machines using algorithms to perform tasks without the explicit parameters that are usually necessary. Via AI and ML, businesses are benefiting by eliminating work. 

In the course of doing business there are a lot of small, mundane, and repetitive tasks that cost businesses a lot to carry out, usually due to the costs established from having people performing those tasks. Modern AI/ML systems are capable of accomplishing many of these tasks with a keen eye for small deviations. In some cases, they respond well to larger deviations. Let’s take a look at some of the way's businesses are utilizing AI/ML today.

Network Security

In the course of keeping networks secure, there are dozens of very repetitive, mundane tasks that need to be accomplished. Integrating AI into IT services and hyper-converged infrastructure systems, helps balance workloads by automating network security tasks.

Cyber-Defense

Aside from regular network security tasks, AI/ML systems offer answers to the breakneck speed of network interactions. By being able to check network packets faster than ever, and quickly discern what is in them, these AI cybersecurity systems can work to quickly cross reference information to ascertain exactly what information should be allowed and what should be blocked. 

Chatbots

Everyone knows that customer service is a critical part of doing business, and many sectors have begun to roll out AI-fueled chatbots to handle the product and service support via a website-based chat application. These interfaces are building intelligent conversational abilities with machine learning. Since most support questions are asked frequently, the chatbot can learn how to return useful conversation about products, services, and company information. 

Business Intelligence and Predictive Analysis

One of the most imperative uses of AI is as a supplement to a dedicated business intelligence platform. AI can enable BI tools to produce much clearer, much more useful insights. The clearer and more useful the insights the more forward-thinking decision makers will use them.

Accounting and Billing

Accounting has been one of the most straight-forward aspects of businesses, but now, with AI, more and more businesses are trusting the useful AI-field applications to streamline data entry and data reporting. AI systems are also being used to maximize the costs associated with payment processing, invoicing, and other financial tasks necessary to any business. 

AI may not be what we envisioned at this point, but it is useful enough to help your business streamline its operations enough that it will be sure to have an effect on your bottom line. How would you like to see AI used to improve your business? Subscribe to our blog for more great information about today’s most dynamic technology trends.