Transforming Business with AI

By CIOReview | Monday, November 13, 2017
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Today, artificial intelligence (AI) solutions are available to the everyday business owner through various means, and it is important to determine which solutions is the best suitable.

Predictive Analytics

Companies can serve better using predictive analytics and meet the needs of their consumers. In healthcare arena, hospitals and other healthcare facilities can take advantage of these predictive analytics so they can estimate patient admission rates and have sufficient supplies and staff working during times of higher admission rates. Businesses can leverage AI technology to manage their inventory. These systems can monitor consumer behavior, purchasing rates, allowing businesses to stock their inventory based on these predictions.

Amazon’s prediction project wants to incorporate AI technology to be able to predict when to dispatch their customers an item before the particular individual runs out of that specific product.

Improving financial health

AI can play crucial role in pruning business reduce everyday expenditures and exercise economic discipline. Its usage eliminates need for gamut of essentials that range from t paper usage to human efforts. Eventually, businesses can streamline their economic resources.

Fortifying Security

By applying the power of AI, businesses can mitigate the cyber security risk. They can anticipate the attacks and deploy the security mechanism that will defend against the cyber threats. Using AI, enterprises are able to detect an ongoing credit card fraud, the perpetrators and their tactics. AI driven measures will help to safeguard data and assets.

Commutation

Everyday commute to the workplace has become an enormous task and it is estimated that drivers spend half of their time in traffic. Local bodies and transport authorities have taken the note of this and Pittsburgh has tested AI-driven traffic signals. These signals can change with traffic flow and shorten the time drivers spent. Besides these developments, car manufactures are also testing artificial intelligence to improve commutes. Many companies have been developing self-driving cars that would allow cars to be driven without any assistance from an individual. These enhancements would definitely lead to faster commutes.