Artificial intelligence stands to revolutionize the way we live and work, with near-immediate results. Thanks to AI and machine learning, the world is undergoing a rapid shift towards robotics, automation, self-service, and predictive data analytics.
In essence, AI for business is doing wonders. AI uses their data more effectively to gain insight into customer behavior without being able to track them directly. It’s also boosting revenue opportunities in a variety of industries as organizations implement AI solutions that ensure better outcomes.
Below, take a look at how artificial intelligence is transforming the business landscape.
1. Breaking down barriers; Creating better healthcare experiences
While medical care continues to become more and more personalized and personalized, it’s also becoming more cost-effective for hospitals to deploy new technologies that allow them to gather greater insights from their data-rich patient populations and make quicker decisions based on those insights.
For example, algorithms are helping hospitals better manage the volume of patients they see. The use of predictive analytics is improving the flow of information between insurers, providers, and payers; while virtual assistants can help with financial transactions or scheduling appointments.
2. Improving healthcare outcomes and patient experience with artificial intelligence
Artificial intelligence is used in a variety of ways to improve the care that patients receive, but AI can help identify a patient’s condition faster and more accurately than human clinicians. It can also help doctors counsel patients on the best course of action based on their health history and current symptoms, recommend new drugs or treatments, or even help in the development of new procedures. It can even be used to suggest new therapies when treating a disease like cancer.
3. Improving labor productivity
AI can be used to make data more efficient and effective, improving the accuracy of data analysis and accelerating the time it takes to complete a task. In turn, this can translate into better health outcomes for patients by reducing average hospital room stays and increasing patient satisfaction. AI is also helping businesses shift away from manual work so that they can focus on their core competencies.
4. Improving operational efficiency in retail stores
Artificial intelligence is being used to reduce overall operating costs in retail stores. It’s also being used to help improve customer service while increasing the accuracy of product recommendations via machine learning and real-time feedback.
5. Improving search engine and delivery capabilities
AI is now used by some companies to increase the number of customers they can serve, which creates new opportunities for retailers and delivery services. Google uses advanced machine learning to tailor search results for individual users, while Walmart has created a virtual shopping assistant known as Carry that helps customers navigate its website in an attempt to increase conversion rates and grow its online sales following Amazon’s purchase of Whole Foods Market.
The use of artificial intelligence is growing in every industry, delivering better results for companies in terms of increased revenue, reduced costs, and better customer experiences.
Do you have a favorite example of how AI is helping your company? Are you working with a company that seeks to implement these technologies within its organization? Let us know by leaving a comment below!