12 Ways Industries Can Use AI To Boost Productivity
Do you know that over 60% of businesses believe Artificial Intelligence will increase productivity?
They aren’t wrong, you see!
Thanks to sophisticated AI applications, AI can boost productivity in many ways for real.
From freeing up staff to focus on more important tasks to reducing human errors, automating mundane tasks, and identifying patterns and trends using algorithms, this article informs you about the main ways industries can utilize artificial intelligence to boost productivity.
Whether you’re a large enterprise or a small business, no matter which industry your business belongs to, AI can help you become more efficient and productive than ever before!
So without any further delay, let’s dive in to know how!
Data Analysis & Predictive Analysis
You’re not alone to think that the repetitive and time-consuming tasks are hindering your team’s performance and productivity. But by integrating AI into your business tools you can automate repetitive tasks like data entry, document processing, and report generation, freeing up your team’s time to focus on more strategic and value-added activities. You can collect, review, record, manage, and analyze data in the most sophisticated way possible to boost operational efficiency and productivity.
It can also get businesses more valuable insights that can escalate the workflow and business strategies and provide them with the latest trends in minutes to help them make decisions faster, which is crucial for growth and long-term success.
Take CompilerX as an example. CompilerX has some remarkable capabilities, it’s an AI-powered B2B database platform. Unleash the potential of this platform to swiftly mine email, contact, and company information for any target company. And that’s not all — CompilerX also features an AI-powered extension that enables instant generation of AI-generated emails dedicated to Cold Email Campaigns Content. Discover the convenience and efficiency of CompilerX. Impressive, isn’t it?
Well, AI-powered data let businesses,
- Make more informed decisions and allocate their resources and investments in the right places and at the right time
- Analyze large datasets and get valuable insights based on trends and patterns
- Identify potential inefficiencies and bottlenecks in their workflows
Plus, AI can even predict what the customers may demand next week by analyzing their purchase habits of the last months. Companies like Amazon, Spotify, and Netflix use AI to predict what users may purchase, listen to, or watch next!
Imagine knowing which customers would be more willing to purchase and support your business and products before they even visit your online storefront — that’s what predictive analytics can do!
Automated Customer Service
AI technology first disrupted the customer service industry by introducing chatbots or AI chatterbots. And this disruption is still there since machines are becoming more intelligent, and AI chatbots are evolving as they are learning more about human behavior.
Businesses from any industry can quickly respond to customer queries using AI chatbots and automated call management. These two applications of AI can free up the precious time of human executives and allow them to carry out more crucial tasks, which can boost the productivity rate of businesses.
The AI-powered automated call management eliminates the need for employees to be seated next to the phone 24/7! Allowing businesses to handle their clients more efficiently by providing outstanding customer support 24/7, AI chatbots ensure seamless interaction with clients and customers.
Plus, setting up automation systems allows businesses to define when and how to call their target customers, which helps them reach and woo potential clients.
Demand Forecasting & Inventory Management
For any business, forecasting demand accurately is necessary. Using specific strategies and accurate analysis, AI and machine learning can test outcome possibilities and make meticulous forecasting.
Using AI, businesses can check and estimate how their new strategies or products may react and estimate the results, which can cut down inventory by up to 50%.
Amazon applying AI in its inventory management
The giant retailer Walmart has already shown us how embracing AI has helped it complete the work of a month in just 24 hours. Plus, they also use automated drones that can fly through their warehouse to scan items and track the misplaced ones, prompting the workers to take action instantly.
Automated Text Creation
Businesses must produce high-quality content to ace and impress search engines and not just long blog posts!
But writing quality content takes a lot of time as there is writing, editing, proofreading, and so on! And that is where comes the AI-powered text-producing tools that can generate ideas and produce quality content in no time.
Take ChatGPT, for example. Since its introduction, this AI-powered chatbot has taken the world by storm with its applications. Its worldwide adoption has now led to the introduction of an official free app for iOS, with an Android version coming soon!
And along with producing content, AI-powered writing tools can also check its quality and do proofreading and originality check for you.
Predictive Maintenance
Before the AI time, how do you think companies used to check the conditions of their tools and machines? Well, they used to schedule condition checks for machines periodically. While this process is still helpful, with AI, things have gotten more exciting, quick, and more efficient!
Instead of scheduling maintenance, now AI systems can monitor your tools constantly and notify you when maintenance or care is required. AI-powered sensors can check the conditions of machines, analyze the data in real-time and alert the field technicians when needed. That’s not it!
AI also lets you program your machines to make them able to detect their problems on their own, order replacement parts, and schedule a technician visit.
One McKinsey report has shown that AI-powered predictive maintenance of industrial equipment can boost asset productivity by up to 20% and reduce maintenance and inspection costs by 10 and 25%, respectively.
Optimized Manufacturing Processes
A factory where all machines and processes run smoothly, without any delays or human errors — is it even real? Yes, real only with AI technology.
Implementing AI in the manufacturing industry makes it possible to verify each and everything during the manufacturing process. Be it detecting faults, lead times, or cycle times or verifying the component quality, quantity, processing time, temperatures, etc., AI technology can ensure a seamless and quick workflow to boost productivity.
Without AI, when handled manually, manufacturing processes continue to be ineffective with the risks of flaws and defects, which can limit the number of products manufactured, leading to unsatisfactory productivity and failure to achieve customer satisfaction.
Automated Recruitment Process
The recruitment process has always been a daunting one! Sifting through countless resumes to find the right candidate interested in joining the company and helping it grow is not easy!
Imagine if employers had to read every CV they receive to find the right candidate, their work would have been endless.
But thanks to AI, that’s no longer the case! AI has automated hiring and expedited the lengthy recruitment processes! Whether it’s scanning thousands of resumes or finding employers-qualified candidates, AI can do it all in minutes. Users can set up automated systems for overseeing applications by specifying vital parameters.
Without this AI automation, it would be challenging for human beings to do it on their own as the more time-consuming the process would have become, the more it would impact the company’s productivity!
Communication And Collaboration Tools
Effective communication and uninterrupted collaboration are necessary for an organization to have improved productivity.
Today, various AI-powered communication and collaboration tools are available in the market to help businesses from all industries streamline their communication and help them collaborate more effectively.
Let’s take AI-powered language translation tools, for example, that remove the language barriers between employees working in different parts of the world or from different cultural backgrounds.
Hyper-Personalized Manufacturing
With more and more AI innovations coming in each passing day, the personalization of products and services has reached another level. Now businesses from diverse industries can use AI-based software to manufacture products highly relevant to each consumer.
In 2023, personalization is key to retaining customers, staying relevant, and building trust among the audience. Personalization sells! While 90% of leading marketers agree that personalization contributes to business profitability, 80% of consumers agree that they are more likely to buy from a brand offering a personalized experience.
Brands like Nike, Adidas, and Zazzle allow users to customize the shoes or apparel they order. Such hyper-personalized manufacturing not just creates a customized and targeted experience but can also boost inclusive growth!
Quality Control
AI helps businesses with quality control and thus boosts their productivity as a higher quality product always requires lesser reworks which mean increased productivity!
Businesses can perform visual verifications using various AI-powered tools to ensure the developed product is of the best quality. For example, the luxury vehicles company BMW uses artificial intelligence technology to evaluate its production line’s component images and detect any deviation from the set quality standards in real-time.
They also use an AI application to compare the vehicle order data with the newly produced car’s live model designation image to determine whether the designations are present. Also, the AI app notifies the final inspection team in case of a missing designation.
No wonder there’s no risk of quality compromise when you put AI at work!
Improved Clinical Decision-Making
When the discussion is about AI, how can we not talk about the healthcare industry, where AI is used to help medical professionals make better and more accurate medical decisions faster?
Several companies now offer AI-powered decision-support tools to provide physicians with virtual assistance through recommendations and assist their treatment and diagnosis of patients. These AI tools can also give doctors an overview of all the possible diagnoses based on patients’ symptoms and assist them with clinical research studies.
Plus, AI can also boost the productivity of the healthcare industry by automating tasks and delivering better healthcare faster and at a lower price, analyzing patient datasets, providing real-time medical information, predicting and preventing various risk factors, etc.
Supply Chain Procurement
Combining analytics with machine learning, AI is revolutionizing how companies procure(buy and sell) goods and services.
AI integration in supply-chain management processes provides in-depth insights into how different conditions can affect operations at different stages and help businesses make more effective strategic decisions.
AI technology can free up procurement resources for more strategic and creative tasks by automating time-consuming routine tasks like invoice processing and reporting.
The multinational drink company Coca-Cola uses AI for supply chain and logistics procurement.
Common Challenges for Implementing AI
But when implementing AI to boost productivity, industries often face a few challenges, such as difficulty integrating AI with existing systems, addressing security and data privacy concerns, outdated infrastructure, lack of proper training and skillset in existing employees, etc.
However, the challenges are not unsurmountable!
You can overcome most of these challenges by partnering with a professional and reputed specialized development company with years of experience and the necessary skills, expertise, and tools for implementing the latest tech solutions across industries!
In Closing
In this age of instantly and now, businesses must work quickly and respond immediately to fulfill the growing and ever-changing consumer demand.
Without Artificial Intelligence, it would be impossible for businesses to work this fast, handle the increasing workload this smarter and boost their productivity this effectively, the way machine learning, AI, and its other subsets allow them to do.
In this article, we’ve just tried to point out some of the most significant ways different industries can and are using AI to enhance their processes and boost their productivity.
To read more informative articles on AI, such as how AI helps to address the mental health crisis or how AI chatbots can help increase lead conversion rates in real estate, we encourage you to check out our blog section.
5Happy reading and implementing AI!
