At one time, AI and robotics were a source of controversy. The lack of public trust in technologies that seemed to threaten job security and pose ethical questions has abated recently as a greater number of people are beginning to work remotely and depend on these technologies to simplify their day-to-day tasks.
The pandemic has exposed many of the weaknesses that have existed for a long time in the economy and corporate strategies. In order to ensure long-term sustainability, companies are being forced to consider how to reduce overhead while increasing productivity simultaneously. AI and robotics are beginning to drive massive efficiency gains for the companies that implement them and this is having a ripple effect.
AI Takes on Tasks Workers No Longer Want
Rather than threaten job security, AI is now being seen as a way to increase employees’ value to their companies by eliminating the mundane and repetitive tasks that reduce their happiness and fulfillment. Workers are growing more accepting of delegating the tasks they do not want to machines so that they can pursue roles that are more rewarding. The benefit of this to companies is clear— these tasks that no one wants to perform can be given to AI at a fraction of the cost required to hire humans.
Implementation of Robotic Technologies Improves Safety
Companies need to invest significantly in workplace safety measures and are also required to provide worker’s compensation benefits to those who are injured on the job. More assembly and manufacturing jobs are being transitioned to robots and automated processes. Humans simply cannot match the productivity of machines and jobs are beginning to move from assembly work to maintaining the machines that are performing the tasks people once did.
AI Provides Superior Data Analysis
Having the data needed to make strategic decisions is only as valuable as the ability to properly dissect that data. Advances in AI and machine learning are making it easier for corporations to interpret the information they are collecting. This helps identify trends, customer behavior, and success rates so that companies can refine their marketing tools and see better returns on investment.
The Transition to AI for Tech and Customer Support
Machine learning technologies are making it possible to have an AI answer most questions that are being asked of it. This doesn’t merely reduce the need to source support tasks to people, but can also give customers the information they are seeking more quickly. The time that it may take a person to respond to queries is significantly greater than the proper AI with an accurate understanding of the question.
AI and Robotics as Consumer Products
Artificial intelligence is beginning to become a ubiquitous feature in society. Consumers are welcoming AI into their homes in the form of virtual assistants such as Alexa, Siri, Google Nest, and more. It is no longer a question of whether autonomous driving will be a reality, but instead when the technology will be ready for safe deployment. More people than ever are purchasing technology that is voice-activated and depends on AI to perform tasks.
AI is Improving Cybersecurity
There is a dramatic rise currently in the number of cyberattacks on public and private targets. Every sector is vulnerable, with recent attacks targeting healthcare companies, oil pipelines, power companies, and the financial sector. Human beings are no longer able to implement security measures at a faster rate than evil actors are deploying exploits to key vulnerabilities. Machine learning technology is allowing AI to proactively identify weaknesses and plug the holes before cybercriminals can launch attacks on critical systems.
AI in the Financial Sector
While it is difficult to always predict what will happen in the markets, machine learning technology is starting to analyze trends and accurately declare winners and losers. This will have a marked impact on the economy in the near future as corporations make more productive investments.
AI Will Improve Public Health
Using artificial intelligence in the healthcare sector will result in the early diagnosis of illness and the implementation of better treatment options. Being able to prevent and treat diseases earlier and with more effective means will keep our workforce healthier and more productive. This can drive advances in medical care that reduce costs and allow medical professionals to provide a higher quality of care.
How AI and Robotics Will Gain a Foothold and Drive Massive Efficiency Gains
By deploying these technologies in a strategic manner, corporations will be able to reduce downtime, analyze data more efficiently, produce products at a fraction of the cost, and see greater returns on investment from their marketing strategies. As more workers accept and have a desire for work-from-home positions, their contributions to employers can be more targeted. Innovations in workplace safety due to robotics and AI learning will also reduce the costs that are traditionally incurred due to injuries and adaptations needed to maintain a safe work environment.
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