There might not be a hotter buzzword right now than artificial intelligence, or AI for short. Beneath the hype, there are indeed revolutionary technologies and solutions that could dramatically change the way we work. AI can accomplish in minutes what people can do in hours. It’s not about replacing people, mind you, but empowering workers to get high-value work done efficiently.
From crunching big data to handling simple, but increasingly complex customer requests and automating mind-numbing tasks, AI solutions are already empowering companies big and small. By the end of 2018, 62% of organizations will be using artificial intelligence business applications. Don’t be surprised if that number hits 90% by 2020.
Given the above, it should come as no surprise that venture capitals, other investors, and companies have been pouring money into AI. Between 2015 and 2016, global funding for AI startups jumped by 60%. From 2016 to 2025, AI spending is expected to explode from $640 million to $37 billion.
Many of those companies implementing AI don’t fully understand the concept or even the solutions they are using. The beautiful thing about AI, however, is that you don’t need full comprehension to see dramatic results. Of course, the more you know, the better. So, let’s get you up to speed.
AI Empowered Leadership
Many companies are now striving to be data-driven. The motive isn’t difficult to understand. Leaders who can incorporate data into their decision-making process will be able to make better decisions; at the very least, they will know about the environment they are operating in.
Consider predictive analytics, it’s not just about data but using AI to analyze and predict outcomes based on data. Once, such solutions were immensely expensive, however, more recent solutions are both more affordable and more accurate. AI can be used not just to gather data, but it can also provide insights.
This means that data can be analyzed more quickly. In the past, cutting-edge companies would rely on large, expensive data analytics teams to crunch data. There was a problem, however, because it often took these analytic departments weeks or even months to crunch data. By the time data made its way to decision makers it was already out of data.
Now, analytics teams can use AI to turn around insights much more quickly.
Project Managers Will Leverage AI as Well
The benefits of AI won’t be limited to C-level executives and other key decision makers. Employees lower on the totem pole will benefit as well. Consider project managers, they often have one of the hardest jobs in any company. For a project manager, running a project can be like herding cats, so to speak.
There are so many things going on at any one time. So many deadlines to manage, so many boxes to tick, and so many people to coordinate. AI will be able to help. AI can automate simpler tasks, taking work off the project managers shoulders. AI-driven project management tools can identify bottlenecks as well. AI can even coordinate and track processes as they are being completed.
An AI empowered project manager will be a project manager who is both efficient and effective. Just as importantly, that manager won’t be stressed to his or her wit’s end.
AI-Enabled Sales & Marketing
Marketing and sales teams are two parts of the same coin. Both exist to increase sales. For many companies, marketing and sales are the heart of what they do. Fortunately, AI can mix in a bit of artificial brain power, because data is vital for marketing.
However, marketing and sales are both largely real-time operations. What needs to happen needs to happen now, not tomorrow. The challenges with compiling and analyzing data have resulted in many sales and marketing teams using data only half-heartedly. AI is changing that.
AI-empowered email drip campaigns, AI-enabled ads that adjust on the fly, AI data tracking for sales calls, there are so many possibilities for AI to disrupt marketing and sales. Already, many of the best AI tools available are in the sales and marketing fields.
Using Artificial Intelligence in Human Resources
Human resource management is one of the most vital operations for any large company. At the same time, it’s often one of the more overlooked processes because HR staff tends to exist in the background. While HR might not be the most obvious application for AI, it could prove to be one of the most fruitful.
How so? First, AI software can be used to identify the most promising prospects. Simple software filters are already used to sort through resumes, but AI solutions could take that to a whole new level, intelligently identifying the best prospects and even contacting them.
However, helping recruit staff is just one part of a complex equation for HR staffs. One of the most vital roles for HR is to also increase overall productivity. AI could be used to identify bottlenecks, skill gaps, and other issues. HR could then implement solutions to address these issues.
Then there’s employee development. Many companies put a lot into employee development. However, an overworked HR departments and busy on-the-ground managers make it difficult to track and monitor employees. When it comes time for the annual review, it’s tempting to just breeze through.
What if AI could be used to track and monitor employees? In fact, that’s exactly AI can be used to do. AI can track daily performance, finding short-comings and identifying strengths. HR departments can now use AI to optimize their workforces.
Conclusion: AI Will Empower the Entire Organization
This didn’t get mentioned directly, but if you read all the above points carefully, the strand might emerge. AI is going to be used to increase the entire organization’s performance, from the top-on-down. AI should lead to across the board productivity increases as well, and eventually, its impact may be felt in essentially every process.
What’s more, AI is going to be a team player. In many cases, AI is more about empowering and coordinating people, rather than replacing them. Artificial intelligence can help teams track and coordinate their efforts and can help individuals get more done.
Whatever the future holds, AI is certain to be a big part of it.
Nuvro is a robust online project management tool that helps with real time collaboration. With Nuvro you can gain control and peace of mind over all of your projects, tasks, team members, workload and everything else important to your company. In addition to the project, task and collaboration features found in most PM tools, Nuvro also provides a company dashboard, a team dashboard, team member performance reviews, secure document management, an internal alternative to email and more. Nuvro is perfect for busy teams looking to accomplish more. Learn More…