Artificial intelligence (AI) has emerged as a transformative force in today’s rapidly evolving technological landscape. While some view AI as the ultimate transformative force, others remain skeptical and consider it as just another passing hype.
SwissCognitive Guest Blogger: Aron Kantor – Editor of TheBusinessDive
One thing is certain: AI assistants change businesses’ workflows and can make internal processes more effective than ever. In this article, I will dive into how AI assistants can boost a business’ effectiveness in many areas.
Key takeaways
- AI coding assistants lead to faster and safer coding, which can elevate the overall quality of developers’ work.
- Utilizing AI during content creation can enhance your abilities and help you work smarter, faster, and more effectively.
- You can entirely automate your online meetings using AI to focus on more crucial tasks.
- AI personal assistants are excellent for boosting your productivity and keeping yourself organized.
- A business can use AI to optimize legal processes, providing cost savings, improved accuracy, and enhanced efficiency.
What is an AI assistant?
Essentially, an AI assistant can be any digital tool or application that utilizes generative AI technologies to perform specific tasks, answer questions, or carry out commands.
Generative AI models use text input for text generation, image generation, video creation, or music composition. AI assistants are able to learn from past interactions due to machine learning, which improves the accuracy of their responses over time.
In general, you can interact with generative AI tools in two ways. An AI assistant can understand voice commands using natural language processing for speech recognition. Furthermore, AI assistants are capable of understanding text messages.
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For example, Siri uses following orders based on voice commands, while ChatGPT understands text messages.
AI coding assistant
Code writing is one of the areas where AI assistants can be deployed effectively, and their machine-learning skills can be a great asset. An AI coding assistant can help in two ways for the developers.
First, it can generate code based on prompts, which can significantly decrease the time requirements of coding. Secondly, AI coding assistants suggest code for auto-completion while developers write code in real-time.
Microsoft’s research shows developers can perform coding 55.8 percent faster when using an AI assistant. Considering the average salary of one developer, an AI coding assistant can be a game-changer in terms of cost-efficiency.
Generating code based on prompts and offering real-time auto-completion suggestions helps developers focus on higher-level logic and problem-solving. This expedites the coding process and reduces the chances of errors.
Ultimately, AI coding assistants lead to faster and safer coding, which can elevate the overall quality of developers’ work. However, it is essential to emphasize that AI can only support developers and does not replace them.
AI writing assistant
Content creation is a lengthy process and requires patience and inspiration. The question is how long it takes to create a single blog post, depending on multiple factors. Creating a single blog post can take an average of two to five hours.
However, the time spent on a single blog post is also impacted by how much research is necessary and your topic, and do not forget the brainstorming part of the work. For example, creating a thorough blog post takes me approximately 6 to 10 hours. Besides crafting my post, I spend between 4 and 6 hours finding the right topic and researching.
You see, quality work requires sufficient time, but not least, inspiration.
One of the greatest strengths of AI writing assistants is that they can decrease the time spent on first drafts. An AI writer assistant can save anywhere between 2-4 hours on a 1000-word blog. The time you can save also depends on various factors, but one thing is sure: it will greatly accelerate the process.
In a nutshell, an AI writing assistant helps you create more content in less time. An AI writing assistant alone still cannot generate that level of value that a human is capable of. Instead, it acts as a catalyst to enhance your abilities and work smarter, faster, and more effectively.
AI meeting assistant
Believe it or not, meetings take up an average of 15% of a business’s collective time. Unproductive online meetings can not just be a waste of time but also a waste of money.
Businesses with less than 50 employees spend an average of $18,000 annually on unproductive meetings, while businesses with over 100 employees spend an average of $420,000 annually on unproductive meetings.
AI meeting assistants or AI meeting managers can help you in many ways to reduce wasted money and time to make you more productive.
Depending on the specific AI app, it generally helps you with the following tasks:
- Recording meeting,
- Taking notes,
- Prepares meeting summaries,
- Meeting analysis,
- Automated meeting scheduling,
- It helps you to find relevant information more easily in your meeting notes.
Overall, an AI meeting manager can fully automate your online meetings and help you focus on more crucial tasks.
AI personal assistant
An AI personal assistant is software designed to understand natural language voice and text commands and carry out tasks for the users. They primarily support an individual’s daily activities, work, or lifestyle.
An AI personal assistant is a great solution to boost your productivity. It can help you control your smart devices, send messages, make phone calls, and keep you organized.
Moreover, it can perform tasks mostly handled by human personal assistants or secretaries in the past. In this way, businesses can take one step further in digitalization while reducing costs.
AI legal assistant
Let’s find out how AI legal assistants can optimize businesses’ legal processes.
Contract management
According to the Enterprise Legal Reputation (ELR) Report by Onit, 40% of legal teams spend half of their workday reviewing and handling contracts. While legal teams handle many contracting processes, almost every team is exposed to poor contract management.
AI legal tools can help you manage and automate workflows across the entire contract lifecycle. These AI solutions can extract key details from the contract, like expiration dates, important clauses, or categories, using machine learning.
Legal research
The legal research is a time or money-consuming process, or sometimes both. You can either do it for yourself if you have the necessary expertise or hire a lawyer.
However, AI can be a game-changer in terms of legal research. AI tools are capable of effectively handling huge amounts of data. These tools can dive into researching regulations, caselaw, secondary sources, and more to provide you with all the details you might need.
Workflow automation
AI-powered legal tools offer several advantages regarding workflow automation. It can reduce errors, accelerate contract creation and document assembly, and decrease contract preparation costs.
AI can give you a hand in various tasks, such as automated contract review, approval, and automated renewal, ultimately simplifying the contracting process.
Endnote
As with all disruptive technology, AI is very divisive. While it is tempting to be skeptical and put our heads in the sand, not utilizing AI in our business would be a missed opportunity.
It is important to take one step back and ask yourself how you can be more productive and what value proposition AI-based solutions provide you. Ultimately, aiming to delegate repetitive tasks to AI tools is an excellent strategy to ensure that you purely focus on critical workflows where the human factor is inevitable.
About the Author:
Aron Kantor, the editor of TheBusinessDive, is passionate about discussing the latest business trends, startups, and AI advancements. Aron strives to deliver engaging and valuable content that helps entrepreneurs and future entrepreneurs navigate an ever-changing business landscape.
Artificial intelligence (AI) has emerged as a transformative force in today’s rapidly evolving technological landscape. While some view AI as the ultimate transformative force, others remain skeptical and consider it as just another passing hype.
SwissCognitive Guest Blogger: Aron Kantor – Editor of TheBusinessDive
Key takeaways
What is an AI assistant?
Essentially, an AI assistant can be any digital tool or application that utilizes generative AI technologies to perform specific tasks, answer questions, or carry out commands.
Generative AI models use text input for text generation, image generation, video creation, or music composition. AI assistants are able to learn from past interactions due to machine learning, which improves the accuracy of their responses over time.
In general, you can interact with generative AI tools in two ways. An AI assistant can understand voice commands using natural language processing for speech recognition. Furthermore, AI assistants are capable of understanding text messages.
Thank you for reading this post, don't forget to subscribe to our AI NAVIGATOR!
For example, Siri uses following orders based on voice commands, while ChatGPT understands text messages.
AI coding assistant
Code writing is one of the areas where AI assistants can be deployed effectively, and their machine-learning skills can be a great asset. An AI coding assistant can help in two ways for the developers.
First, it can generate code based on prompts, which can significantly decrease the time requirements of coding. Secondly, AI coding assistants suggest code for auto-completion while developers write code in real-time.
Microsoft’s research shows developers can perform coding 55.8 percent faster when using an AI assistant. Considering the average salary of one developer, an AI coding assistant can be a game-changer in terms of cost-efficiency.
Generating code based on prompts and offering real-time auto-completion suggestions helps developers focus on higher-level logic and problem-solving. This expedites the coding process and reduces the chances of errors.
Ultimately, AI coding assistants lead to faster and safer coding, which can elevate the overall quality of developers’ work. However, it is essential to emphasize that AI can only support developers and does not replace them.
AI writing assistant
Content creation is a lengthy process and requires patience and inspiration. The question is how long it takes to create a single blog post, depending on multiple factors. Creating a single blog post can take an average of two to five hours.
However, the time spent on a single blog post is also impacted by how much research is necessary and your topic, and do not forget the brainstorming part of the work. For example, creating a thorough blog post takes me approximately 6 to 10 hours. Besides crafting my post, I spend between 4 and 6 hours finding the right topic and researching.
You see, quality work requires sufficient time, but not least, inspiration.
One of the greatest strengths of AI writing assistants is that they can decrease the time spent on first drafts. An AI writer assistant can save anywhere between 2-4 hours on a 1000-word blog. The time you can save also depends on various factors, but one thing is sure: it will greatly accelerate the process.
In a nutshell, an AI writing assistant helps you create more content in less time. An AI writing assistant alone still cannot generate that level of value that a human is capable of. Instead, it acts as a catalyst to enhance your abilities and work smarter, faster, and more effectively.
AI meeting assistant
Believe it or not, meetings take up an average of 15% of a business’s collective time. Unproductive online meetings can not just be a waste of time but also a waste of money.
Businesses with less than 50 employees spend an average of $18,000 annually on unproductive meetings, while businesses with over 100 employees spend an average of $420,000 annually on unproductive meetings.
AI meeting assistants or AI meeting managers can help you in many ways to reduce wasted money and time to make you more productive.
Depending on the specific AI app, it generally helps you with the following tasks:
Overall, an AI meeting manager can fully automate your online meetings and help you focus on more crucial tasks.
AI personal assistant
An AI personal assistant is software designed to understand natural language voice and text commands and carry out tasks for the users. They primarily support an individual’s daily activities, work, or lifestyle.
An AI personal assistant is a great solution to boost your productivity. It can help you control your smart devices, send messages, make phone calls, and keep you organized.
Moreover, it can perform tasks mostly handled by human personal assistants or secretaries in the past. In this way, businesses can take one step further in digitalization while reducing costs.
AI legal assistant
Let’s find out how AI legal assistants can optimize businesses’ legal processes.
Contract management
According to the Enterprise Legal Reputation (ELR) Report by Onit, 40% of legal teams spend half of their workday reviewing and handling contracts. While legal teams handle many contracting processes, almost every team is exposed to poor contract management.
AI legal tools can help you manage and automate workflows across the entire contract lifecycle. These AI solutions can extract key details from the contract, like expiration dates, important clauses, or categories, using machine learning.
Legal research
The legal research is a time or money-consuming process, or sometimes both. You can either do it for yourself if you have the necessary expertise or hire a lawyer.
However, AI can be a game-changer in terms of legal research. AI tools are capable of effectively handling huge amounts of data. These tools can dive into researching regulations, caselaw, secondary sources, and more to provide you with all the details you might need.
Workflow automation
AI-powered legal tools offer several advantages regarding workflow automation. It can reduce errors, accelerate contract creation and document assembly, and decrease contract preparation costs.
AI can give you a hand in various tasks, such as automated contract review, approval, and automated renewal, ultimately simplifying the contracting process.
Endnote
As with all disruptive technology, AI is very divisive. While it is tempting to be skeptical and put our heads in the sand, not utilizing AI in our business would be a missed opportunity.
It is important to take one step back and ask yourself how you can be more productive and what value proposition AI-based solutions provide you. Ultimately, aiming to delegate repetitive tasks to AI tools is an excellent strategy to ensure that you purely focus on critical workflows where the human factor is inevitable.
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