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Artificial Intelligence or AI is the talk of the town. In the last few years, the trend of AI is growing making it one of the most sought-after domains of expertise. Many of us have an understanding of AI from the sci-fi movies where machines take over the world. This thought surely instills fear in our hearts about the future of machines.
Honestly, we can’t predict how the future of AI is going to evolve but the current trends convey a different message about how AI is integrating into our daily life. AI is driving organizational changes with many business sectors looking to hire AI developers. In the last 5 years, the use of AI has grown by more than 300% in industries.
AI is already a big part of our lives, from our mobile phone applications and gadgets to our refrigerators, every “smart” thing has an AI. So let’s dive into the world of AI and understand what it is, its impact on industries, and how it is changing the future of organizations and impacting the ways we do business.
What Is AI?
Artificial Intelligence can be defined as the ability of a machine to imitate human intelligence. AI as a term is used to describe all the technological advancements relating to software programs that use human-like intelligence to solve problems, perform tasks and learn from available data and past actions. The machine or software can even rewrite and change themselves depending upon the data, showing the mark of ‘intelligence.’
AI is comprised of Machine Learning and Deep Learning.
Machine learning is a wide concept that refers to the process of building algorithms that can automate computers and enable them to make their own decisions. It is a division of AI development that makes computers able to analyze data, learn and recognize patterns and adapt responses. ML tools can help businesses recognize customer behaviors and buying patterns.
Deep learning is another subset of machine learning. If machine learning mimics the learning patterns of humans, deep learning mimics the neural networks. The neural network allows computers to learn from large chunks of data and solve complex problems. Multiple neurons interconnect to work on various layers. Through Deep learning, we are trying to mimic the functions of the human brain and its complexities.
Benefits of AI
Today, every organization needs AI to be at the top of their games in the market. AI has indeed become a part of our lives and it will be perhaps a good option to hire an AI developer today to integrate AI into your business. As the business grows, complexities in data analysis and processing also grow. Using AI can reap many benefits-
Impact Of AI On Various Industries
Artificial Intelligence has been used for many years now. From automation features in various applications, including your mobile phones to autosuggestions in search engines and robots in industries, AI is actively becoming part of our daily lives. With AI integrated into your business, it can help in accelerating growth, optimize operations, market pattern recognition and give you an edge over competitors.
Many different sectors are already incorporating AI for different purposes. Some of the major industries are:
Most financial organizations are using AI to analyze users’ buying patterns to understand the market curve. Many government institutes track transactions to identify and control fraud.
AI models are heavily revolutionizing the manufacturing process by deploying automated machinery for faster operations, especially in supply chain processes, implementing maintenance systems, etc. Due to this, manufacturing has become safer, more affordable, and easier.
• Health Care:
AI software and systems such as NLP helps organizations in storing medical data, analyzing clinical notes on patients, better diagnostic processes, reducing costs and time, and ensuring patient care.
• Business Enterprises:
AI is used in many business facets, from marketing to project development, to recruitment and sales, AI-based models have limitless usage in the industry.
AI Driving The Future Of Organizations
With so many benefits and uses, more and more organizations are realizing the need to integrate AI and machine learning into their systems. A 2019 survey by Gartner showed that there has been around a 40% rise in AI implementation since 2015. Another 2021 survey by SnapLogic says that 61% of workers favored that productivity in the workplace boosted after the adoption of AI.
The ways businesses used to operate are changing rapidly. More and more organizations are adopting the digital way which is increasing the amount of data circling the internet to manage all the processes. With AI organizations can quickly manage their data, identify patterns and use it to strategize their operation. Hire an AI developer today so you can also implement AI in your venture.
And no, AI isn’t going to replace humans. Not in a near future at least. Though AI can do the jobs of humans 100 times faster and more efficiently, it still works in collaboration with humans. It only functions in ways that complement business goals and culture. It is also quick in finding better talent to hire in the industries.
Let’s talk about how AI is shaping the future:
Talent selection and Hire
AI can transform the process of selecting and recruiting talents. Even today, many corporations use an automated applicant tracking system (ATS) which rejects up to 75% of resumes before it reaches the hiring managers. Previously recruiters had to look at each resume to find one credible candidate. But now, with the help of certain ATS such as Jobscan and Jobseer, hiring jobs are getting easier.
With audio and natural language processing, companies can easily determine suitable candidates for the role. Many transportation companies also use similar features to determine ideal candidates who can drive safely. You can hire an AI developer to build an AI that automatically prepares questionnaires and tests candidates’ skills for your organization.
No human is getting obsolete-
This is perhaps one of the most debated topics, especially with major Sci-fi movies showing the “dangers” of AI. Many people believe that AI will make the human workforce obsolete. With the advancement of technology, more systems are adopting automation and taking jobs from humans. Well, automation has brought significant changes and the fear makes sense, but it is not taking ‘actual jobs’ instead, it is changing the way we work.
Rather than being fatalistic, AI actually presents more job opportunities than ever before. AI is driving innovation in all industries due to which many new sectors and technologies are growing which means more jobs. AI is disrupting the business models as we know them and is creating them anew. It is not taking any jobs but is reshaping them.
Moreover, it has its own limitations. AI can only perform one task at a time and often gets strict in its operations, not allowing changes. It surely cannot think outside its algorithm, has limited computation prowess, can be biased, etc. So AI still has a long way to go to completely replace humans and to fully replicate human intelligence. AI will only help in enhancing smart decisions, faster operations, and providing transparency but it will still require a human to control it.
Most people have this misconception that AI is only related to the IT or engineering departments of the Industry. Many sense that it is only going to affect the tech world. Well, every business has become a ‘tech” business in one way or another. AI and digitization have grown roots in every department, it is hard to imagine today’s operations without the help of technology.
Doesn’t matter what business you own, integrating AI will help in prioritizing tasks, maintaining your books and finances, and implementing various strategies which will scale your business and provide faster growth. The future is digital. The earlier you understand it, the easier will it be for you to implement AI systems. You can hire AI developers today and tell them your need and they can easily implement the required tools.
For most benefits, AI needs to be adopted by the whole business. Integrating all the processes from sales to product manufacture as it is the call for the future. An effective AI adoption happens when you transition your business model into being completely digitally equipped. Only when the whole company becomes digitized, they can unlock the true potential of AI.
Though, I should remind you again that AI can only be as good as the amount of data it is provided and the algorithm it is built in. So hire a good AI developer who can build the systems as per your organization’s needs.
The future demands AI. Any business that wants to advance in the future needs an AI developer because it will be critical to have these technologies to survive in the market. AI can bring faster and safer operations, better quality, more competitive growth, allows cost reduction, and many more benefits. So don’t wait and hire an AI developer today. If you don’t know where to look, Optymize can help.
Optymize is one of the largest marketplaces for hiring developers. You can easily list your requirements, and Optymize will provide you with a list of suitable developers and technicians that you can choose from. Hire now!