Artificial Intelligence ( AI) has become a hot topic this year. AI has been mentioned in everything from assisting college students with writing papers to having the ability to get our Country's nuke codes. We focus less on robot soldiers fighting wars, less on driverless cars, less on AI replacing Doctors, and more on how this phenomenon may change the business world we live in.
We have focused on how AI will allow companies to become more efficient, more consistent, and save money.
When we think of AI we think of a company's ability to replace a customer service team with an online chatbot or virtual assistant that provides customer service answers that are consistent, correct, in language, and at a much cheaper rate than a human.
We think of the ability to:
- Prevent or minimize fraud or theft
- Manage inventory efficiently
- Predict scheduling and buying patterns
- Control inventory more efficiently
- Lower cost, more consistent training and development
- Systematize automation
- Analyze data metrics
In essence, we think of a company's ability to improve and become leaner on many fronts. There is a belief that we are in the infancy stages of AI and those who adopt successful AI technology strategies will flourish. Our firm is in that camp.