A few days ago we were able to attend a pioneering event in the world of Retail, the Retail Future 2022 fair. In its fifth edition, and under the slogan "Challenge [...]
Read More »
The use of Artificial Intelligence in business is increasingly common and necessary for the optimization and evolution of processes. In one of our last articles, our CEO, Fernando Pavón, explained "why Artificial Intelligence is important for businesses"but today we want to focus on what are the advantages of Artificial Intelligence.
Machines can make decisions and operate independently, without the need for the intermediation of human actions, with the aim of making the different procedures more efficient and faster day by day.
The implementation of Artificial Intelligence in companies can be applied to a multitude of tasks: process automation, for greater efficiency, customer services..., but among the most important ones are the following multiple advantages of using Artificial IntelligenceThe following are some of the most important ones:
One of the great benefits of the Artificial Intelligence is that it can analyze a large amount of data in a matter of seconds to organize, classify and make sense of all the information received. It should not be forgotten that the raw material of machine learning algorithms is data: the first benefit is to obtain, organize and prepare business data to be used by AI; and in the process make it much more available to the entire enterprise.
Without AI, it would be impossible to achieve these levels of personalization in any type of system. In addition, another advantage is that it works around the clock to improve its performance and feed itself with data. The more data it absorbs, the more efficient it becomes and, in turn, the more learning algorithms can evolve.
For example, we can find predictive algorithms that sort through millions of data and show you airline ticket prices or the recommendations you usually watch from Netflix, Spotify, Amazon...
Even the best professionals often make mistakes. However, AI helps us reduce human error and dramatically increases the chances of achieving a higher degree of accuracy. Decisions are made on the basis of information previously gathered by applying a certain set of algorithms.
For example, when it comes to cybersecurity, IBM conducted a study on cyber breaches and 95 % of all breaches were caused by human error. If AI-enabled systems were applied to these processes, filtering malware or phishing links before they reach the user, a large number of human errors would be avoided.
Artificial Intelligence, along with other technologies, can enable machines to make decisions faster than the average human and thus perform actions in a shorter period of time. This is because, when making decisions, humans tend to analyze many factors in an emotional and practical way, in contrast to AI-driven machines, which deliver results quickly, based on new known data and knowledge inference gained during training processes.
Quite a few companies are already enjoying the benefits of AI. One of them is the online supermarket Ocado, which uses automated machines in their warehouses to control thousands of robotsThe company communicates with them 10 times per second to coordinate logistics and delivery of large quantities of goods.
In the medical field, AI is advancing rapidly and is increasingly used for analytical purposes. It is now capable of reviewing and accurately analyze medical images to detect possible tumorswith detection rates very similar to those of physicians trained in these tumors.
In addition to medicine, artificial intelligence can save many of the lives lost in traffic accidents, for example in urban pedestrian and cyclist crashes. Many vehicles today are equipped with cameras and sensors whose signals are processed by AI-based software in order to detect obstacles and act on the steering wheel and brake to avoid impact.
AI can also be used to optimize and refine weather forecasts, especially in the case of intense weather events with strong local intensity (hurricanes, floods, storms, etc.). By calculating forecast models and refining their work continuously, they are an essential aid in making the right decisions at the right time, potentially saving lives.
AI not only increases productivity at the machine level, but also increases worker productivity and the quality of the work they perform. The availability of more information allows for a more focused view of the work and better decision making.
To give you an idea, the advantages can be enormous. According to a study prepared by KPMG, companies can realize productivity gains from 15%.
How is this increase achieved?
Production is optimized thanks to machine learning, which allows robots to perform all kinds of calculations in real time to adapt the pace, increase the machine occupancy rate, support an operator on the production line, manage stocks optimally, minimize breakdowns with predictive maintenance, ...
AI has a processing agility that allows it to work with an unimaginable amount of data variables, but people will always be the final decision makers. Thanks to AI we can make smarter business decisions to, for example, coordinate product delivery, analyze trends, provide forecasts or quantify uncertainty.
By having more information available in a structured way, as mentioned above, allows each decision maker to make decisions in a faster and more efficient manner that comes directly from their systems.. Thanks to this, AI offers managers an important insight into the efficiency of future operations, sales, inventory, transportation... allowing them to have an important assistance in their daily operations and to better guide future actions according to predictions.For example, ehe agri-food sector is investigating the use of Artificial Intelligence to predict stock levels. and thanks to this you will be able to make more precise decisions to optimize your warehouses.
The AI-based tools we offer companies will provide them with great competitive advantages by instantly processing data to create products, provide better and personalized services for their customers.
A few days ago we were able to attend a pioneering event in the world of Retail, the Retail Future 2022 fair. In its fifth edition, and under the slogan "Challenge [...]
Read More »Big data analytics is the process of analyzing large and complex data sources to uncover trends, patterns, customer behaviors, and other data sources [...]
Read More »If we look at them separately, the Internet of Things (IoT) and Artificial Intelligence (AI) are powerful technologies and if we combine them, we get a [...]
Read More »In the dynamic financial world, optimizing the return on available assets is essential to the success of any lender. Gam [...]
Read More »
