We are witnessing the fourth industrial revolution. It’s the main driving force in the development of artificial intelligence (AI). The growing applications of AI in business are not only changing the way we manufacture but also generate new products or services. As in previous industrial revolutions, however, the biggest transformation is in the job market and distribution of manpower.

AI applications in business – table of contents:

  1. Introduction
  2. AI and digital transformation
  3. Products and services related to AI
  4. AI and human labor
  5. AI applications in business – summary

Introduction

In today’s post, we will focus on those areas of business where the revolutionary impact of artificial intelligence is most evident. In particular, we would like to discuss the impact of AI on:

  • the functioning of companies,
  • the specifics and type of products and services offered, as well as on the,
  • the type and nature of work performed by people.

AI and digital transformation

The impact of AI on the operation of companies is part of a broader trend called the digital transformation of business, in other words, the implementation of digital technologies in all areas of business.

In most cases, companies apply AI solutions to automate selected tasks, for example, to personalize emails sent to contractors. However, AI is increasingly applied to monitor, comprehensively analyze and ultimately, transform entire organizations.

This has become possible thanks to the development of excellent analytical tools also known as Business Intelligence solutions. They are able not only to collect data on business operations, such as the daily number of customers or the average time and cost of performing a service. With AI-enabled business tools, you can also:

  • visualize data in a readable form,
  • suggest areas for improvement,
  • predict the most favorable directions for the company’s development
AI applications in business overview Solutions can do_

So far, we have listed areas where AI supports and accelerates the daily work of people working on business efficiency. However, AI is capable of suggesting solutions to problems whose scale has so far exceeded human capabilities. This is possible thanks to the speed of data analysis and the ability to see hidden regularities that today’s AI has. It is thanks to these features artificial intelligence can manage traffic throughout a city or to identify wear patterns in industrial machinery.

Well-applied AI-based digital tools can handle automated repetitive office tasks. It also facilitates the planning, optimization and even robotization of production, warehousing, sales as well as delivery processes.

Products and services related to AI

Digital transformation processes not only require the use of appropriate tools themselves. They also result in the emergence of new products and services aimed at business-to-business (B2B) and directly at customers (B2C).

One of the completely new services that have emerged with the development of artificial intelligence is AIaaS, or “artificial intelligence for hire,” which we wrote about in a previous article. We will talk about NLP services such as automatic translations, chatbots, and document processing in separate articles. Today, however, we will only mention the goal that unites them all: the personalization of business solutions.

Personalization means creating special offers tailored exactly to the customer’s needs. And one of the most common applications of AI in B2B solutions is to develop and implement solutions dedicated to a specific company, such as:

  • specialized accounting services in the cloud – handling different types of documents,
  • software for consistent branding – as well as suggesting creative solutions within the existing brand book,
  • e-commerce support – aligning digital sales with the existing network of stationery stores.

Personalization of services and products makes them cheaper to handle – because the customers pay only for what he needs. On the other hand, it requires their consent to collect data concerning the product or service so that further accurate personalization is possible.

AI applications in business

AI and human labor

The biggest concern is the impact of AI applications in business on the work done by humans. Thanks to AI, precise and unmanned systems have been available for some time now for, among other things:

  • monitoring remote work,
  • automating the operation of physical stores,
  • robotization of industry.

Will AI replace workers performing simple tasks such as stacking goods on shelves? This is very likely. However, at present, activities that are very simple for humans are still very challenging for robots. This is because they need to combine many areas of artificial intelligence, such as image processing, moving through physical space and planning. In other words, you require very advanced multimodal artificial intelligence to catch as well as accurately place products of different weights, sizes and fragility on the shelf.

Will AI replace people working in the digital domain? For now, AIs can provide intelligent answers to questions asked in natural language. They create eye-pleasing images and write personalized texts. But its results – while often surprising and interesting – are still not repeatable and require human control. That’s why, for the time being, we treat them as tools to support the work of the creators, not a threat to them. However, the fourth revolution is also entering the creative industries at an accelerating pace – an area where AI is growing exponentially.

Certainly, AI is an amazing tool for:

  • improve work efficiency,
  • focusing on creative work instead of performing repetitive tasks,
  • developing knowledge-based growth strategies.

AI applications in business – summary

The field of AI applications in business is expanding every day. From the digital transformation of business to new products and services, to profound changes in the workplace. The scope of change makes it possible for us to talk about the fourth industrial revolution – we are only at the beginning of it.

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AI applications in business - full overview | AI in business #4 robert whitney avatar 1background

Author: Robert Whitney

JavaScript expert and instructor who coaches IT departments. His main goal is to up-level team productivity by teaching others how to effectively cooperate while coding.

AI in business:

  1. Threats and opportunities of AI in business (part 1)
  2. Threats and opportunities of AI in business (part 2)
  3. AI applications in business - overview
  4. AI-assisted text chatbots
  5. Business NLP today and tomorrow
  6. The role of AI in business decision-making
  7. Scheduling social media posts. How can AI help?
  8. Automated social media posts
  9. New services and products operating with AI
  10. What are the weaknesses of my business idea? A brainstorming session with ChatGPT
  11. Using ChatGPT in business
  12. Synthetic actors. Top 3 AI video generators
  13. 3 useful AI graphic design tools. Generative AI in business
  14. 3 awesome AI writers you must try out today
  15. Exploring the power of AI in music creation
  16. Navigating new business opportunities with ChatGPT-4
  17. AI tools for the manager
  18. 6 awesome ChatGTP plugins that will make your life easier
  19. 3 grafików AI. Generatywna sztuczna inteligencja dla biznesu
  20. What is the future of AI according to McKinsey Global Institute?
  21. Artificial intelligence in business - Introduction
  22. What is NLP, or natural language processing in business
  23. Automatic document processing
  24. Google Translate vs DeepL. 5 applications of machine translation for business
  25. The operation and business applications of voicebots
  26. Virtual assistant technology, or how to talk to AI?
  27. What is Business Intelligence?
  28. Will artificial intelligence replace business analysts?
  29. How can artificial intelligence help with BPM?
  30. AI and social media – what do they say about us?
  31. Artificial intelligence in content management
  32. Creative AI of today and tomorrow
  33. Multimodal AI and its applications in business
  34. New interactions. How is AI changing the way we operate devices?
  35. RPA and APIs in a digital company
  36. The future job market and upcoming professions
  37. AI in EdTech. 3 examples of companies that used the potential of artificial intelligence
  38. Artificial intelligence and the environment. 3 AI solutions to help you build a sustainable business
  39. AI content detectors. Are they worth it?
  40. ChatGPT vs Bard vs Bing. Which AI chatbot is leading the race?
  41. Is chatbot AI a competitor to Google search?
  42. Effective ChatGPT Prompts for HR and Recruitment
  43. Prompt engineering. What does a prompt engineer do?
  44. AI Mockup generator. Top 4 tools
  45. AI and what else? Top technology trends for business in 2024
  46. AI and business ethics. Why you should invest in ethical solutions
  47. Meta AI. What should you know about Facebook and Instagram's AI-supported features?
  48. AI regulation. What do you need to know as an entrepreneur?
  49. 5 new uses of AI in business
  50. AI products and projects - how are they different from others?
  51. AI-assisted process automation. Where to start?
  52. How do you match an AI solution to a business problem?
  53. AI as an expert on your team
  54. AI team vs. division of roles
  55. How to choose a career field in AI?
  56. Is it always worth it to add artificial intelligence to the product development process?
  57. AI in HR: How recruitment automation affects HR and team development
  58. 6 most interesting AI tools in 2023
  59. 6 biggest business mishaps caused by AI
  60. What is the company's AI maturity analysis?
  61. AI for B2B personalization
  62. ChatGPT use cases. 18 examples of how to improve your business with ChatGPT in 2024
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  64. The most interesting AI implementations in companies in 2024
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  67. Top 8 AI tools for business in 2024
  68. AI in CRM. What does AI change in CRM tools?
  69. The UE AI Act. How does Europe regulate the use of artificial intelligence
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  73. How much does using AI increase the productivity of your team?
  74. How to use ChatGTP for market research?
  75. How to broaden the reach of your AI marketing campaign?
  76. "We are all developers". How can citizen developers help your company?
  77. AI in transportation and logistics
  78. What business pain points can AI fix?
  79. Artificial intelligence in the media
  80. AI in banking and finance. Stripe, Monzo, and Grab
  81. AI in the travel industry
  82. How AI is fostering the birth of new technologies
  83. The revolution of AI in social media
  84. AI in e-commerce. Overview of global leaders
  85. Top 4 AI image creation tools
  86. Top 5 AI tools for data analysis
  87. AI strategy in your company - how to build it?
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