The Use Of Artificial Intelligence In Business

Hi guys and welcome back to another blog. In this one I will be going through as the title suggests - the use of AI in business. 

With exponential growth in AI seen in such a short timeframe it is a burning topic at the moment. 

Positives of AI in Business

AI can save companies vast amounts of time as it can automate certain business processes. Tedious and mundane tasks can be sorted seamlessly by AI which results in employees being able to restructure how they spend their time.

AI is able to handle, sort and analyse large amounts of data which can greatly improve the efficiency and productivity of a business. Efficiency is one of, if not the key advantage of AI. Maximising efficiency is a crucial component in getting as much profit as possible for a business.

Chatbots are an increasingly more popular and extremely handy for both companies and their consumers. They have round the clock availability giving real time responses and can be customized around the needs of the business using it. They are widely adaptable being used in nearly every industry can implement them.

Negatives of AI in Business

Added pressure on businesses to have the latest AI technologies as competitors have it. This is especially for smaller businesses as they wouldn't have the same capital at hand that big organizations would have. This creates even bigger discrepancies and makes it more difficult for smaller companies to compete. 

There is also a big concern around the area of AI taking jobs. I think if AI started created LinkedIn profiles and could apply for jobs we'd all be in a bit of bother. I know it sounds crazy but I don't think this is that far fetched. We already have AI influencers who are earning an estimated $10m a year → Miquela (@lilmiquela) • Instagram photos and videos

Do you think the positives outweigh the negatives? Or are you against the use of AI? Let me know.