Earlier,
AI was perceived to be a part of fiction. But not anymore. Today, it has become
a name in every household and, in many cases, a part of it as well. Since the
debut of AI and automation, they have been dedicatedly working to transform
businesses of all industries.
AI,
in broader terms, is software that functions to perform human-like activities.
Machine Learning and deep learning capabilities are integral to it, assisting
businesses in tapping into their untouched potential.
When
capabilities amalgamate with Business Process Automation, they develop an
invincible concussion of success! Business automation has always been around.
However, with the arrival of AI, there are endless possibilities.
What do Statistics Say About AI
and Automation?
While
most businesses are eager to adopt AI and automation, some are still in the
exploration phase. Also, this technology will indeed benefit their business.
Below are some of the stats on AI and Automation:
Popular Statistics on Artificial
Intelligence in Businesses
According
to some studies by Forbes Advisory, some businesses are optimizing AI in the
following manner:
● 56% use AI to enhance and excel in their operations.
● 51% of companies optimize AI to tackle cybersecurity threats and fraud detection.
● 47% harness AI-driven tools as personal assistants.
● 46% use AI for managing customer relations.
● 40% of businesses are turning to AI for inventory management
Popular Statistics on Business
Process Automation
Most
businesses are moving to Business Process Automation as it delivers countless
advantages. Given below are the stats projecting how businesses are bracing
automation:
●The business process automation market reached 8 billion US dollars by 2020 and is expected to reach 19.6 billion US dollars in 2026.
●80% of businesses are speeding up process automation, and 50%
foresee automating all the repetitive tasks.
●It is assumed that 69% of all managerial tasks will be fully
automated by the end of 2024.
●According to a report by McKinsey, the involvement of AI and
automation will continue to rise.
●About 50% of businesses are confident about automating 30% of
their workload.
●73% of IT leaders believe that automation can save them 50% of
their time, while 51% also add that it can cut their costs by 10% to 50%.
Scope of AI Automation for
Businesses
AI
and automation have become integral to every industry while providing
impeccable results. Given below are the areas of scope for this technology:
Security: AI capabilities are an indispensable ally in avoiding and
preventing network security threats. AI can easily acknowledge cyber threats by
analyzing data input patterns. After navigating
the danger, it can backtrack the data and find its sources to avoid it in the
future. Automation scans your device and looks for security loopholes and
potential vulnerabilities.
CRM: AI is also
transforming CRM systems by incorporating self-updating and auto-correcting
capabilities that work in the background and maintain the flow of operations.
Process automation capabilities empower customers to get their tasks done
independently while shedding extra load from CRM executives. Some high-end
CRMs, such as Botgo, also provide a human hand-off feature to the customer;
they can reach out to the executive if they feel stuck.
Online Data Research: AI Business Solutions
are significantly influencing online data research. They can sieve through vast
data sources to identify search behavior patterns and other details and bring
out refined information as needed. As people use mobile phones increasingly,
with AI dominance, they can expect a more customized experience.
Digital Personal Assistance: It can help
businesses by operating as a personal assistant. It can help managers manage
their emails, maintain calendars, and recommend strategies to streamline
processes. In addition, AI can also help your business grow by managing
customer inquiries. With the help of automation, redundant tasks can also be
done accurately while offloading your human assets. They can instead focus on
other KPIs and boost your business’s productivity.
The Future of AI Automation
The
future of AI is endless. Given below are some of the possibilities based on its
current capabilities:
●Robots are expected to become more “commonsensical” and could be
optimized for everyday use.
●Earlier, driverless cars were only seen in movies, but today,
they’re a reality. Likewise, the future holds scope for more upgrades in our
current technology.
● AI can transform traditional 2D displays for gaming, interacting
with a web page, or simply reading a book into more advanced versions now that
the Internet of Things (IoT) is gaining more popularity.
AI
and automation are revolutionizing industries by improving efficiency,
security, and customer experience. As these technologies evolve, businesses
that adopt them now will future-proof their operations, gaining a competitive
edge in an increasingly digital world.