With all kinds of doom and gloom predictions around the rise of AI, we are faced with daily stories about how robots will take over our jobs – and the world!
It’s fair to say I can’t see that happening. Sure, I think AI will get rid of some jobs – mostly tedious or repetitive ones – but it will also create new ones, boost enterprise, and give entrepreneurs an incredible tool for productivity and success.
I believe that AI is here to help us – and here are five AI advantages that will have a positive impact on work and life.
AI can increase your productivity
AI is a fantastic tool for boosting productivity. One of the great advantages of AI for business is that it does a lot of the more repetitive tasks intelligently. This can have an effect right across a larger organization, leaving employees time to focus on more creative activities, complex problem-solving, and impactful work. For the entrepreneur, it can free you up to do what you do best!
A great example of this is the chatbot. Rather than call you up, or email your business, people can engage with a chatbot that can field their enquiries, answer questions, provide relevant information and engage with them.
AI-powered chatbots are now an essential tool for you if you have daily, direct interactions with clients who rely on fast, accurate responses.
From lead generation to customer complaints, the time needed to complete these tasks can be dramatically reduced by chatbots – while improving the experience for your clients. By cutting time-consuming admin you can be freed up to work on more creative work. It also eliminates human error from your customer operations.
Yes, I know chatbots don’t quite have that truly human touch yet, but they are getting better at natural-sounding conversations every day.
AI can help you crunch data
Data is everywhere. And there is simply more and more of it about. But getting to grips with it, and using it as part of your business plan, proposition or project can be daunting. It’s almost impossible to run a competitive business without data. And even if you can get it, finding a way to turn it into valuable insights is even harder. Good data scientists are almost impossible to find in today’s market.
AI can help you decipher data and gain valuable insights from it without a data scientist on staff. AI applications can help you identify important changes in patterns and isolate trends. They can then help you create detailed, compelling reports that can help you see if you are on the right track. They can perform deep-content analysis and evidence-based reasoning to uncover any changes in customer behaviour that might affect your bottom line. They can even predict what key business metrics you need to optimise performance.
Gaining all these insights used to demand time, manual effort and specialist skills. Now it can all be done with AI.
AI increases your data security
As soon as you have data, you need to be looking after it and protecting it from the many people who would breach your security and access the substantial amount of personal information you no doubt keep. But AI can help change that.
AI is an increasingly important part of cybersecurity, constantly analysing large chunks of data to detect risks such as phishing and malware.
While cybercriminals can modify malware code to evade detection, AI systems draw on data from previously detected malware so they can detect new variants immediately. This works even when dangerous code is hidden within innocent code. AI-powered network monitoring tools can track user behaviour, detect anomalies, and react accordingly, protecting your systems at all times.
Importantly, they can protect against threats in real-time without interrupting your business processes. They are really good at tracking data such as videos, chats, emails, and other communications.
AI can power smart marketing
There is a science to SEO, web pages and blog posts respond to constantly changing algorithms and managing the marketing ROI can take up a lot of time and resources. Marketing is one area where AI is becoming increasingly sophisticated.
AI can help increase your output by drastically decreasing writing and editing time, not to mention putting powerful graphic tools in your hands. In 2022, almost 18% of marketers said they spend an average of over 20 hours per week creating just visual content! AI graphic design tools can automatically generate not just design ideas but finished designs. They help you eliminate repetitive tasks like removing backgrounds and creating mockups.
When it comes to copy and content the same is true. Simply by entering keywords and a brief, AI can build strong content – from ads and marketing emails to social media copy and explainers.
This frees up your time for creativity, strategy, and long-term thinking.
AI will boost the whole economy, and drive growth
Some of the latest research by Goldman Sachs suggests that ‘widespread AI adoption could eventually drive a 7% or almost $7trn increase in annual global GDP over a ten-year period.’
Other academic studies point to a three-percentage-point rise in annual labour-productivity growth in firms that adopt the technology.
This translates to a huge uplift in incomes compounded over many years.
There are industries that are ripe for AI intervention. Take the case of online casinos for example. These are customer-centric services that look to make the experience convenient and accessible. AI can improve engagement, and automate marketing processes to provide immediate returns. Customers get a better experience, and casinos can pivot to new trends quickly.
When AI is used as a tool, there’s no need to eliminate existing jobs or create new ones. Instead, it aids humans in performing better and more efficiently.
Projections speculate that by 2025, AI and robotics will have created over 90 million new jobs. AI needs the creative ability and imagination that humans possess. They are only capable of performing activities for which they are trained. When training these AI models, a large percentage of human input is often required.
This means most of the changes that will be needed to take AI and robots to their optimal level of performance will be made possible by humans. Existing technology is still undergoing testing and improvements, making them prone to errors. Therefore, the presence of a human factor is required to identify these errors and correct them.
Embracing the Future: AI Advantages Means World of Opportunities
Overall, there are lots of reasons to be optimistic about developments in AI technology. The job market will change – it’s inevitable – but stay on track, keep up to date, and the opportunities for the entrepreneur are plentiful. Forget the negative, embrace the positive. Sure, it’s hard to predict the future, but I believe that technology as powerful as AI is only likely to improve opportunity, our work and our lives.
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