Artificial Intelligence (AI) is a field getting more and more attention today. Despite this fact, however, misconceptions still persist about AI.
In some quarters, for instance, AI’s innovations carry a negative connotation , and are considered almost bad omens. This misconception springs from the content coming out of Hollywood and other countries’ movie industries, which like to portray AI in a dystopian sense: as robots that will kick us out of our jobs, replace our friends and families and eventually annihilate the entire human race. That portrayal is inaccurate and maybe even a little pathetic. Instead, the good news is that AI is not necessarily negative; there are areas of application that promise to make work a better, and less stressful, experience. Consider the following areas of evidence of how AI has become a powerful tool, rather than a sci-fi warning.
1. Artificial intelligence in HR
The responsibilities of human resources departments include overseeing recruitment, training and development, compensation and benefits, compliance and a host of other related responsibilities.
2. Artificial intelligence in time management
Timing is one of the most important factors behind a company’s success. In fact, it accounts for 42 percent of the difference between failure and success. So it’s no surprise that many companies are looking for a way to integrate AI into time management and improve their chances of making accurate predictions based on available emerging and historical data.
3. Artificial intelligence in customer service
A business’s reputation can be made or marred by its customer service reputation. This is what makes customer service such an important part of a business. Yet, dealing with a huge volume of calls, complaints and inquiries daily can be time-consuming and burdensome.
4. AI in portfolio management
Portfolio management is another area of application with a direct impact on entrepreneurship. If you are a stakeholder in investment management, you can count on such AI applications as robo-advisors to provide sound financial advice. These apps can assist with portfolio management with little human input — and often with less commission expense. […]