The Future Now: Uncovering the Benefits of Artificial Intelligence in Today’s Applications

Artificial Intelligence is a field of computer science that refers to systems or machines that mimic human intelligence to perform and improve tasks, based on collected information. This technology can be found in chatbots, smart assistants, recommendation engines, among others.

Currently, artificial intelligence is experiencing a real boom, emerging as one of the main innovation trends. According to the study conducted by Mckinsey in 2022, adoption has more than doubled since 2017, although the proportion of organizations using AI has hovered between 50 and 60 percent in recent years. The research showed that the leaders who invest in artificial intelligence are ahead of the competition, with increasingly advanced practices, known to allow, on a large scale, the fastest development of technology.

Companies from practically all sectors are investing in solutions based on the tool to improve the customer experience, optimize the execution of tasks, as well as improve the quality of the information collected and define more strategic actions. This means you can make informed decisions faster and more accurately than ever before. The ability of artificial intelligence to automate tasks, process large volumes of data and learn from previous experiences has driven a new wave of innovation, allowing organizations to become more competitive and adaptable to the demands of a market that is constantly developing.

Where is AI being used?

+++Banks and Investment Services: The application of technology in the financial industry is shifting from product creation, asset trading and process automation to transforming financial services. AI-based tools are prevalent in retail banking, corporate banking, wealth management, asset management and capital markets. Leaders now have teams dedicated to data science and machine learning.

+++Consultancies and System Integrators: Consulting and systems integration projects refer to the strategy, design and implementation offerings, and managed services offered by certain types of agencies to companies. Actions include full project responsibility or targeted assistance on specific parts. Common areas of expertise include building and training algorithms and models, curating data, implementing AI initiatives, assessing and mitigating risk, and improving artificial intelligence skills across the enterprise.

+++Defense and Inspection: Defense and enforcement organizations make artificial intelligence a top priority, and use technology such as drones and surveillance systems to improve public and personnel safety. They collect data to enhance situational awareness and use AI techniques to analyze these materials and get accurate information and actions to the right people at the right time.

+++Education: Technology is having a major impact on education, with institutions that implement it seeing positive results in areas such as student retention, recruitment and teacher productivity. However, it is important to distinguish between true AI and other technologies such as robotic process automation.

The use of AI as a work resource in the company’s culture has stimulated and reduced the learning curve of a new technology in the corporate environment. By integrating artificial intelligence into different processes, the team becomes familiar with its features and benefits, becoming more efficient. However, it is crucial to highlight that the use of AI tools for specific tasks and the implementation of technology in products are different approaches that need different levels of maturity and strategies.

Additional reading: GPT chat: hero or villain?

What maturity is needed?

Implementing artificial intelligence in a company is an important decision that requires organizational maturity and planning to guarantee and maximize the benefits. Several factors must be considered when assessing whether a company is ready to use AI, including the size of the organization, its industry, available resources and goals to be achieved by implementing the technology.

+++Solid data culture: To successfully implement the technology, it is crucial to have a solid data culture in the company. This means that the corporation must invest in teams of specialists in IT, data science and artificial intelligence. Additionally, the organization needs to have a clear view of the data that will be used to train the AI models.

+++Clarity of the problems: Before using AI, it is important to be clear about the problems that the technology will be used to solve. This will help define strategies and plans for implementing and using intelligence efficiently.

+++Well-defined strategies and plans: After clearly defining the problems that AI will be used to solve, it is necessary to propose strategies and plans to implement and use the tool efficiently. This includes: defining the type of artificial intelligence model to be used, the teams responsible for its implementation and use, and the processes for monitoring and evaluating the technology’s performance.

Implementation benefits:

1- Improved customer service: The use of AI allows learning through user data, which enables more assertive and effective service. Indeed, virtual agents are revolutionizing the way we think about customer engagement in customer service. Now, chatbots and online assistants can answer questions, resolve issues in a personalized way, and escalate complex issues to human agents, improving the customer experience.

2- Automating routines and reducing costs: AI is capable of automating repetitive tasks and processes, directly impacting cost reduction in projects and reducing waiting times for service.

3- Cybersecurity: Technology can help identify threats and detect suspicious cyber activity in real time. It can analyze large datasets to identify abnormal behavior, complementing companies’ defense systems.

4- Improved Decision Making: The tool identifies patterns and insights that can be used to make informed decisions. This helps the company to obtain more accurate measurements, based on the data that the technology collects, anticipating trends or problems.

5- Personalization and Customer Experience: With the help of AI, organizations can create personalized experiences for their customers. The tool is able to analyze data on preferences, consumption patterns and user behavior to offer more accurate and relevant recommendations, improving the level of consumer satisfaction.

Additional reading: Are human beings the future of technology?

Artificial intelligence is no longer a questioned resource regarding its impact on the market. Today, it is already revolutionizing the way companies operate, demonstrating its potential through a multitude of high-value cases. The tool’s capacity is undeniable, and those who know how to use it responsibly will have a powerful strategic ally in the digital age. Technology is impacting the present and future of business. The scenario is clear: organizations that are aware of this reality will always be ahead of the competition.

Faced with this scenario, ilegra created the AI Trilogy. It is an educational and systematic way to help companies take a step further in relation to artificial intelligence. Interested? Learn about our solutions!