AI is a massive trend in business, but many companies might think that the use of artificial intelligence only applies to those techy companies up at the Helix District, and big Newcastle names like Sage or Virgin Money.
For reference, Virgin Money uses AI in a customer-facing role with the Redi virtual assistant, and internally for tasks such as fraud analysis, credit risk assessment and customer credit modelling. Highlighting how AI can appear in any part of a business.
The reality is that every type of business can make use of AI today. With AI appearing as a feature in new Windows laptops, most high-end smartphones and every software as a service (SaaS) cloud application.
Workers can use any AI to get detailed background data for reports, to summarise complex documents, analyse business trends and so much more. However, every business must have rules and guidelines to make sure that staff use AI correctly to avoid creating business risk through issues like AI hallucinations or simply misunderstanding facts.
AI is More Than Computers
But AI also lives in many other business tools like delivery apps for grocers and fast-food brands, and finding optimal routes through traffic and scheduling deliveries for when customers are at home. It also exists in AI security cameras that protect offices and streets; control room software uses AI where it is impossible for a desk guard to monitor the dozens of cameras around a big office or building site. AI does the job 24/7 noting any alerts or unusual activity, sharing information live to help staff remain safe and respond appropriately to any situation. Consider the size of the new HMRC offices at Pilgrim’s Quarter, and the number of security cameras, fire and other sensors, all flooding the operations room with data. Only AI can handle that workload.
AI also works in the background of business systems we all take for granted, like 5G phone networks. The mobile services use real-time network management, predictive maintenance and dynamic resource allocation to ensure your call or stream works at maximum quality, while protecting the network and users through improved security.
The Innovation Factor for AI
The big benefit of AI, however you plan to use it, is by giving teams and leaders super-powers they have never had before. Rather than contracting out tasks like design, content and market analysis, AI can do it all for you.
Even as AI gets better every generation and product launch, you will still want to keep a watchful eye and check the results, but AI can solve many small business problems. While helping accelerate the performance of companies of any size.
Across any business department, AI is already helping out. For recruitment, AI can scan through CVs for the interesting points, saving HR workers hours per week. In accounts, AI can check huge payrolls or spreadsheets for errors, and outlier issues that might suggest a major error or fraud.
In factories, AIs are taking charge of supply chains, smart production lines and delivery schedules to maximise efficiency and make price changes on the fly as costs increase or delays mount up.
Whether your business has a few laptops in one office, or is growing across the North East or around the world, AI can support your growth by acting as a customer service agent, updating contracts to include the latest legislation or terms and conditions, and helping plan your next marketing push or product development.
Be Aware of AI’s Strengths and Weaknesses
Do note that, as one AI leader puts it, “AI is a thought partner, not a thought leader.” The inputs for the AI need to be high-quality information, and outputs need to be fact-checked for clarity and accuracy. But even that effort is far less than doing all the work yourself.
That aside, the massive engines behind whatever AI you use get smarter every few months. And there are specific applications for every type of business use, and AI can help create dedicated apps to solve your business problems. With all that in mind, any Newcastle company should be looking to see how they can benefit from AI today to help drive business innovation.