APPLICATION OF ARTIFICIAL INTELLIGENCE AT THE WORKPLACE TO IMPROVE OVERALL PRODUCTIVITY.

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With the increase in technology, artificial intelligence has started to become more and more common in society. Businesses have begun to implement Artificial Intelligence to reduce costs in the long run and to increase productivity within the company. The market for Artificial Intelligence is predicted to increase at a compound annual growth rate (CAGR) of 52% from 2017 to 2025 (Jimenez, 2018). 

Some well-known companies that use Artificial Intelligence successfully are Amazon, Google, Alibaba, Starbucks, McDonald's, and many more. These companies use Artificial Intelligence to personalize customer orders and provide related recommendations which increase customer satisfaction (Prateep Guha, 2021). 



Figure 1 - Business Objectives that can be achieved using AI
Source - Digital Marketing Community, 2021


How does Artificial Intelligence improve productivity in the workplace? 

• Can take care of repetitive tasks.
One of the main advantages of Artificial Intelligence is that it can handle repetitive tasks (Ekkehardt, et al., 2019). Therefore, a company does not have to allocate employees for repetitive tasks and instead they could be allocated for more creative and impactful problem-solving tasks. 
For instance, the customer service department of a clothing store can be customized with Artificial Intelligence. Consumers mostly have the same type of questions. Therefore, chatbots can be implemented to answer repetitive questions and employees can look into more complex and detailed concerns of the customers (Wright, 2018). As a result, productivity will increase and the customers will also be satisfied as they do not have to work on repetitive tasks. 

• Can make accurate forecasts.
Companies could also use Artificial intelligence to make more accurate and relevant forecasts. If the company uses employees, there is a high chance the forecasts will be prone to errors. However, Artificial Intelligence can test different mathematical modules and come up with accurate forecasts in sales, and earnings (Cioffi, 2020). By looking at these forecasts, companies can make decisions on how the different process has to be changed and improved to increase earnings. 

• Automated procurement methods
Most product-based companies have a procurement department to handle supplier and logistic processes. Artificial Intelligence could record data from the beginning of the process when the quotation is been made until the distribution process is over (Ball, 2002). It is predicted that by 2025, Artificial Intelligence will decrease errors in the supply chain, distribution, and administration sectors by 50% and 15% respectively (McKinsey, 2017).  

Conclusion
It is clear how much of an impact Artificial Intelligence could make in a business. Artificial Intelligence not only assists employers with repetitive and data-driven tasks but also assists employees to focus on tasks that have more responsibility and creative capabilities. As a result, productivity increases. 


References

Ball, G. R., 2002. Artificial intelligence: Improving the scheduling of process manufacturing. Volume 35, pp. 83-85.

Digital Marketing Community, 2021. Digital Marketing Community. [Online] 

Available at: https://www.digitalmarketingcommunity.com/indicators/agencies-objectives-that-artificial-intelligence-helps-to-drive-2018/[Accessed 19 November 2021].

Ekkehardt, E., Merola, R. & Samaan, D., 2019. Economics of artificial intelligence: Implications for the future of work. Journal of Labor Policy, Volume 9, pp. 1-35.

Jimenez, J., 2018. 5 Ways Artificial Intelligence Can Boost Productivity. Industry Week, 22 May. 

McKinsey, 2017. Smartening up with. s.l.:McKinsey & Company .

Prateep Guha, P. A., 2021. Using Artificial Intelligence. s.l.:s.n.

Raffaele Cioffi, M. T. P. P. D. F., 2020. Artificial Intelligence and Machine Learning Applications in Smart Production: Progress, Trends, and Directions. Sustainability -, p. 492.

Scott A.Wright, A. E., 2018. The rising tide of artificial intelligence and business automation: Developing an ethical framework. Business Horizons, 61(6), pp. 823-832.


Comments

  1. Manoj ThudawahewaDecember 17, 2021 at 11:22 PM

    AI can directly improve employee productivity, it also comes with some important indirect benefits. Until recently, people predicted that the automation brought by AI would render many jobs redundant. Article includes the information which need to be discussed.

    ReplyDelete
  2. Asma NafazDecember 17, 2021 at 11:29 PM

    Artificial intelligence is used in most of the industries in developed countries. Though it has many advantages, it reduces the use of human capital. In future artificial intelligence covers all areas except decision making process.

    ReplyDelete
  3. Manoj JudeDecember 18, 2021 at 4:16 PM

    This a good and novel topic Hariz.....in fact, use of AI in modern industrial and company oriented work is growing very much and in future, we could see a booming and a thriving aspect of AI world over

    ReplyDelete
  4. Sachini MahaulpathaDecember 18, 2021 at 8:43 PM

    A process can be streamlined through Artificial Intelligence (AI), and help eliminate the manual tasks and unnecessary duplicative efforts. Although there are limitations in AI such as; it is unable to engage 100% in decision making process as well as it is unable to read and understand free hand text, at least 80% of a process can be streamlined if there is semi-structured data involved in it. There should always be a human touch atleast for 5% of it, even if we do an implementation using AI, especially in a service-oriented organisation. A very interesting and an insightful article. Thank you for sharing this.

    ReplyDelete
  5. ARSHAD MBADecember 18, 2021 at 11:13 PM

    AI made work easy to organizations and it is progressing rapidly and challenging and passing by many obstacles, and it's questionable that the need of HR in future. well constructed knowledge shared by you. Thank you.

    ReplyDelete
  6. Dilrukshi indurugollaDecember 19, 2021 at 11:23 AM

    Offering general support through AI tools can boost employee satisfaction, which leads to higher productivity.

    ReplyDelete
  7. Charith WithanageDecember 19, 2021 at 12:56 PM

    Industrially developed countries mostly use AI technology. Its productivity is high but but ist cost is very high.

    ReplyDelete
  8. pradheep mbaDecember 19, 2021 at 5:24 PM

    Interesting topic I'm my point of view artifical intelligence is like the cutting part of a knife must be correctly used or we will be doomed. It has its advantages and disadvantages must be handled with caution

    ReplyDelete
  9. Sandya December 19, 2021 at 6:25 PM

    I’m this modern world technology is became most essential thing in workplace. Using AI within the company can achieve you said benefits and totally agree with you.

    ReplyDelete
  10. Tharaka Pathirana December 19, 2021 at 11:20 PM

    Using the artificial intelligence of an organization can increase the overall efficiency of the business.
    It has a devastating effect on the overall outcome.
    Management must handle it properly.

    ReplyDelete
  11. Irfan AlibahDecember 20, 2021 at 12:00 AM

    great article!

    ReplyDelete

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