Artificial intelligence is one of the most popular topics in science fiction. Speaking of such technologies, one involuntarily thinks about the distant future, although in fact we already live in the era of artificial intelligence and machine learning. Today we will tell you about examples of the use of AI in our areas of life that are already working and bringing a lot of benefits.
How AI Helps Human Resource Management?
Artificial intelligence technology is actively used in personnel management. Modern computer algorithms are much better than humans at planning and finding solutions. There are at least 5 things that we can conclude that smart systems make the work of HR managers much easier:
- Artificial intelligence scans and analyzes thousands of resumes of potential job candidates much faster.
- It contributes to an increase in the retention rate of employees, as well as their productivity, which positively affects the results of the entire organization.
- With the help of AI, employers can much more accurately describe the requirements for a future employee and various details of the vacancy (required qualifications, working conditions, etc.), which contributes to a faster search for the most appropriate positions for employees.
- AI makes interactions with the employer deeper and closer, thereby establishing a more trusting atmosphere between him and his subordinates.
- Artificial intelligence saves time, because with its help, everyday, routine tasks are performed much faster.
Any enterprise or startup needs business process automation development. The impact of AI and bots on modern business is very significant, and this is very noticeable in the example of Eastern European companies. Advanced pocket banking, useful chatbots and automated CRMs are all possible thanks to Business Process Automation Software Development.
How do Companies Use AI in Marketing?
What do you think will happen if AI takes over brand development? Will the company benefit or lose from this? A prime example that will help us find the right answer to this question is Netflix.
Why is Netflix so "addictive"? The reason is that they use a very accurate prediction technology based on the analysis of user behavior. AI tracks your actions and uses them to infer which films, series and programs you like. Then the program compares the received data with the reactions of other users and offers only the most interesting (just for you) recommendations.
- Globally, there are 2 ways to use AI in marketing:
- Using AI to predict demand for products;
- Using AI to interact with customers.
These ways of using AI to improve customer satisfaction in digital marketing are being applied by companies through the development of 4 main tools, namely:
- Chatbot development (5 Reasons to Develop Your Own Chatbot: How Do Chatbots Increase Sales?)
- Predictive and targeted content
- AI content creation
- AI Image Recognition Technology
Can AI Save Human Lives? Artificial Intelligence in Medicine
And the answer is yes, it can! For example, an AI-based system is already in use that can prevent strokes by sending a warning to the patient's therapist about a possible threat. Or a smartwatch that itself can call 911 if the owner becomes ill, as happened with a man whose heart stopped 138 times in 48 hours.
But that's not all. We can give 5 more examples of what smart technologies can do for healthcare:
- To create more advanced medical instruments, devices, devices.
- Facilitate work with electronic patient records (filling in, storing, recording).
- Make healthcare more accessible in remote areas and underdeveloped regions.
- Improve the accuracy of processing the results of diagnostics and analyzes.
- Develop the ability to monitor the health status of each individual patient through wearable personal electronic devices.
Machine Learning and AI are Changing Banking
Already today, many banks use AI to provide high-quality customer support because AI chatbots can provide it 24/7. Also, with the help of smart systems, anomalies are detected and critical situations are prevented. In addition, AI is actively used to detect fraudulent activities with cards. Financial analysts, with the support of artificial intelligence, analyze the market and try to predict how it will develop.
The financial sector does not stand still, so you need to be able to calculate various factors in order to prevent losses and increase profits. AI systems excel at these tasks because they are able to process huge amounts of data very quickly. In addition, computer algorithms are able to self-learn: using the example of situations that have already happened, they make predictions about whether similar cases can happen again, and if so, how. Algorithms built by AI are already actively used by banks and large companies today. It is on this principle that machine learning is used in the fintech field.
In addition, the integration of artificial intelligence and the development of financial technologies today makes the financial sector much more convenient and safer, and service is faster. Therefore, if you are interested in launching a Fintech startup, pay attention to the development and implementation of chatbots in your business, and check out the article “Launching a Fintech StartUp in 2022: a Step by Step Guide”.
Conclusion
Machine learning is changing business in a big way. AI penetrates into all spheres of human activity - from business to creativity. At Owlab we always try to keep you up to date with all the new and relevant news. You can check out our “Owlab Group Blog Digest 2022 - Best Articles Collection” to keep your finger on the pulse of new technologies.
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