Artificial Intelligence boosts productivity?

The rapid stride made by technology in recent times has meant that businesses are fast adapting to newer tools to generate high productivity and eventually better sales. In fact, a recent report by Accenture, the well known global management consulting services company reveals artificial intelligence (AI) as the single biggest factor responsible for boosting economic growth and productivity in the near future.

It is no surprise then that many companies today are investing their time and money in embracing AI. The use of AI powered tools like use of robots, virtual assistants and various augmented reality driven solutions are helping businesses scale productivity. If the Accenture report is to be believed, companies across the globe are likely to witness an average increase in their productivity by up to 40 percent in 2035 using AI based tools.

AI could help companies increase their productivity in multiple ways. Some of the direct ways in which companies could enhance productivity by adopting AI tools includes:

Automating routine tasks

An impactful way in which adopting AI solutions could help companies increase their productivity is freeing up workforce for specialized jobs. Many of the routine jobs are taken care of by virtual assistants or bots using AI. This means employees who were handling these works earlier are now free to focus on more prominent roles helping them deliver better inputs for the company. Pizza Hut for example as a world leader in their segment adopted AI based chat bot allowing users to order from social networks like Facebook and Twitter. The only thing the ordering process is completely run by bots helping the company improve its waiting times by freeing up employees. With employees focusing on more complex solutions, the productivity quotient of the company is likely to go north.

HR recruitment without bias

Good employees make up a good company which is both profitable and productive. The use of AI is acting as a game changer in the human resource space of many business organizations. Companies are using AI based software and tools to remove any bias while hiring new employees. The use of image recognition and data analysis is helping companies understand the best applicant for a potential vacancy. Companies are hiring smarter people for the roles as a result leading to a direct impact on their productivity levels. A recent Mckinsey report shows that use of such AI based hiring solutions could help increase global GDP by $2.7 trillion annually by 2025 just by putting the right person for the right job.

Increase in enterprise mobility

With changing times the use of central office working model is undergoing a change. The use of AI solutions allow employees to work from home or companies to hire talent from anywhere across the globe. The use of AI tools especially help businesses increase the enterprise mobility and talent enhancement process. Employees could acquire new skills and enhance their portfolio without the need to be physically present for any such skill enhancement program. Employees could double up and work on skill enhancement while working on their jobs leading to a higher productivity.

Have you ever used AI at your workplace to your advantage? Please share your views on this.

 

 

 

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