5 ways AI can augment your human workforce and drive tangible outcomes
In today’s business world, AI has become an indispensable problem-solving tool. In the broadest terms, this complex technology enhances the human workforce and allows organizations to increase both efficiency and output.
In spite of its ubiquitous, everyday presence, however, the complexity of AI has created a certain sense of mystery, prompting many organizations to wonder how they go about adopting the technology. Where do you start?
A good place to start is by looking at AI not in terms of the technology itself but in the context of the business need. In other words, don’t sweat the big questions about how the technology works but focus instead on the outcomes you would like to see; the obstacles that are currently in your path; and the role of data in achieving your goals.
These considerations will depend on a range of factors including whether you are seeking to embrace AI for the first time but don’t know how to get started, or whether you have already implemented AI and are looking to accelerate towards even greater efficiency.
Here at Altada, we work with all kinds of companies to deliver bespoke AI solutions that augment human performance and drive tangible business outcomes. Here are five ways that AI does that.
- Enhance decision intelligence
Up to only a few decades ago, business decisions were guided almost entirely by human experience and gut instinct. The dawn of big data changed all that – but to get the most out of data, to really unearth the value, it needs to be processed the right way.
Companies that introduce AI to their workflows are able to forecast trends and plan accordingly. They can simulate multiple scenarios and compare the impact of relevant variables in order to choose the right path. And by leveraging their data, they can understand the why behind business outcomes – not just the what.
- Increase speed
The world of work may have changed but so much of the day-to-day still involves repetitive, mundane and extremely time-consuming tasks. The financial sector is a good example, where executives spend a great deal of time reading, checking and comparing documents in order to extract meaning.
The application of AI can productively automate repetitive tasks, wrangling data and meaning from documents faster than any human, vastly improving turnaround times and freeing up those same humans to get on with higher-value work.
- Reduce risk
In a business context, human error often occurs when workers are tasked with repeating the same mundane tasks over and over. They can lose focus and make mistakes – unlike computers.
AI eliminates risk and improves accuracy by continuously learning and making decisions based on the application of sophisticated algorithms to information already gathered. This allows organizations to standardize processes, aligning with regulations and risk preferences, and enforce processes through consistent data structure and model application.
- Boost productivity
With the best will in the world, human workers need regular breaks and lots of time off to recharge; understandably given the amount of mundane, time-consuming work involved in many jobs.
This is where AI shines. By turning much of that ‘repeatable’ work over to automation, organizations can not only significantly increase output but can also make their human employees happier and more productive by allowing them to focus on more creative/strategic tasks. In this way, AI can also improve staff retention and even help maximize FTE spend by aligning tasks with talent.
- Streamline operations
Keeping up with fast-moving markets can be complicated and expensive, but adopting AI to facilitate transformation is a cost-effective way to streamline the operation.
Here, it is important that organizations approach AI like any other technology investment. By deploying AI to achieve a specific outcome or overcome a particular challenge, companies will find it easier to apply KPIs and assess ROI. For example, the latter could include what the technology costs (initial investment) versus what it will save in the long term (reduced hours, fewer employees, streamlined processes), all in the context of a break-even point (when the investment equals the cost saving).
If any – or all – of the benefits outlined here align with the business needs you have defined, it may be time to integrate AI into your organization’s workflow. This is less daunting than it might sound, although you will need the support of a smart, experienced partner – they don’t come any smarter than award-winning Altada. We’d love to talk to you.
Thanks for reading and please stay tuned for more blog insights!
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