What is AI and how can it impact your business?

Is AI worth investing in…

week 21 article

What is AI and how can it impact your business?

What is AI?

Artificial intelligence is an umbrella term for systems that are programmed to perform ‘frequent, high – volume, computerised tasks’(www.sas.com). When research and development of AI first began, the researchers focused specifically on neutral networks that relied heavily on external inputs. Whereas now AI predominantly commands a deeper understanding of information. You may recognise this change within applications that you use every day! For instance, Google is slowly making the transition from a search engine to an answer engine. You may have noticed that instead of just suggesting a list of relevant websites, Google is now starting to answer some questions you may have!  

AI is being increasingly adopted across a diverse range of industries. For instance, within the automotive sector we have witnessed the development of impressive, conceptual automotive vehicles, such as the Citroën 19_19 and the Audi AI:ME. Even Elon Musk, the creator of Tesla, has expressed his grand plans to launch a RoboTaxi network in 2020!

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Tesla Model 3 has autonomous elements such as AutoPilot that are still being developed!

But AI is also expanding into other industries such as healthcare. Did you know that the NHS are currently testing the Technology Improved Health Management (TIHM) system? Data is being collected on out-patient dementia sufferers living at home. This system aims to detect early infections so that local GPs can intervene and prevent life-threatening hospital admissions.

If AI is proving impactful in these sectors, then why not adopt AI for your business?

It is easy to assume that AI is intangible, and for the most part it is. However, with the increasing developments of autonomous vehicles and tools, AI should not be something you overlook. For business owners, you don’t have to dig deep to invest in AI. Brokers, just like Chatsbrook, can help you to spread the cost, so that AI is obtainable to you and your business.

How can AI help my business?

  • Physical vessels hosting AI are fast improving the efficiency of many industries. For example, driverless taxis, buses and trains could benefit the transportation and logistics sectors. And the development of supply chain tools such as autonomous warehouse carts and inventory-counting drones are making the supply chain less fallible than ever! Ultimately, these vessels are definitely something to consider investing in.
  • AI has the potential to empower your business and improve your customer service! Many businesses are employing the use of ‘Chatbots’ to significantly improve the customer experience. There are also programmes that provide insights into how effectively you assist your customer. As businesses success correlates directly with customer satisfaction, it may be worth you looking into AI systems!
  • Every business owner wants to protect their business! Improve your cyber security exponentially with the adoption of AI! Most, if not all, businesses nowadays have an online element such as a website. AI has the ability to disable potential cyber threats, detect system malfunctions and protect consumer data. You can never be too careful!  
  • Predictive and analytical AI could help you to stay on top of your accounting and finance tasks. AI can evaluate thousands of pages of documents, like contracts, and summarize them almost instantaneously. The efficiency and fast-paced nature of AI means that you can focus on other areas of your business!
  • How would you feel if you could just get a service that optimises your Google and Facebook ads up to 480 times each day? There are so many AI platforms that could really help to expand your audience as well as generate more business leads and higher conversion rates!

If you would like to talk technology, then speak to our industry experts! Our team would be more than happy to advise you on how to optimise your business! Contact 01603 733500 or info@chatsbrook.co.uk today!

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