The fear of AI taking over the market and replacing human work is still alive, even though its implementation in the various areas of the business is already taking place at quite a fast pace. When its application will bring particular benefits?
Maybe if the market wasn’t developing, the fear of AI could be valid. But as we naturally adjust to the changing conditions, AI is more of a chance than a danger. How is it possible? Below we will try to lay out all the opportunities the business application of AI brings.
Artificial Intelligence – chance or danger?
But before we head on to that, let’s take a quick look at the history. As we all know, it tends to repeat itself. In this case there is not much to be concerned about. Naturally, the new inventions raise doubt and fear but in fact, Artificial intelligence is nothing new anymore. Various tools we use in everyday life are based on it. Siri, Alexa, and Grammarly, not to mention Netflix The AI is the core of their functioning even though its application in each case has a slightly different aim. AI has even made its way into simplifying daily jobs like deliveries; with the emergence of autonomous vehicles, trucks can drive themselves to the pickup points and return back with the goods safely. Thanks to AI, students pursuing software engineering also have a whole new field to make a career in. Such professionals can be extremely important to companies like Torc Robotics or similar others that specialize in creating futuristic self-driving vehicles.
Let’s leave the concerns fed by science fiction novels behind and make a clear statement about the possibility of AI replacing humans. Yes – it’s faster at analysing and computing data and can learn. No – it won’t ever be able to compete with us in the field of creativity and many others. It’s the same case as it was with machines. They were supposed to replace us too, but they rather revolutionized the market and made us work in a different mode.
The advantages of artificial intelligence development for business
Some tasks are always performed better by AI. That refers, particularly to computing data. In many branches of business such as healthcare or finance, data analysis is a pillar of development. It allows implementing innovations and measuring progress – and these are just a few of its appliances. To make an effect, the data has to be computed and analysed extremely accurately. Artificial intelligence can cope with it quickly and thoroughly. It is irreplaceable when it comes to processing big amounts of data. Most software solutions like KNIME Analytics (https://www.knime.com/knime-analytics-platform) and others in the market leverage the power of machine learning & AI to help companies make better sense of their data to drive business decisions; in this regard, having automated processes makes the work much easier.
What’s more, the healthcare industry is increasingly utilizing AI technology to manage a variety of processes. For instance, they tend to use software to train new healthcare professionals about HIPAA compliance, which must be followed by the workforce that handles PHI. This means that even small physician’s offices have HIPAA training for their staff. Both doctors and nurses must be trained. This is the reason why healthcare sectors use software such as The HIPAA E-Tool, which might also include hipaa risk assessment tests that can allow professionals to assess how much they learned during training.
AI development – the best way to analyse data and predict the risks
If the risk analysis and predictions of the results of certain actions a crucial part of the business, artificial intelligence is a great help. Forward-thinking is indeed a human domain. However, it’s AI that can provide you a detailed predictive analysis of the future trends based on already existing data. Its speed makes it possible to prepare an urgent risk assessment within a very short time.
And let’s not forget about customization! In today’s Internet, that’s an essential adjustment. If you own entrepreneurship in an area of e-commerce or streaming services, a recommendation engine is a must. That’s why you should definitely invest in artificial intelligence development.