AI technology has advanced leaps and bounds over the past decade, and increasingly, artificial intelligence is being leveraged for productivity gains within the workplace. AI productivity has the ability to streamline and optimises processes so that they're able to be carried out in just a few minutes, whereas before they might've taken hours.
Not only that, but AI is helping businesses save money, too. In this post, we're going to delve into 6 ways that AI can be used to make productivity gains within an organisation. First, though, it's important to clarify what we mean by AI.
What is artificial intelligence (AI)?
When many people think of artificial intelligence, it still conjures up science-fiction imagery and the lingering thought in the back of their minds that robots will one day take over.
In reality, though, an AI tool is just a very helpful piece of software or a set of algorithms. AI is actually a broad, umbrella term for a whole range of separate fields, including machine learning (ML), natural language processing (NLP), cognitive analytics, bots, robotics process automation (RPA) and deep learning to name just a few.
How can AI increase efficiency?
1. Improved simulations
Companies and organizations run simulations all the time. From market forecasts to leadership and team simulations, and everything in between, businesses understandably want to feel prepared for all eventualities, and simulations help with that. AI-enriched simulations are an area that many businesses might benefit from, moving forward.
According to IBM Research, AI-enriched simulations can speed up data screening "by a factor of 10-100x". What that means is that a company's data scientists and researchers can pick out research areas that are more likely to yield better results, and do so more quickly. It streamlines and automates the entire simulation process, saving both time and money in the process.
When you consider that simulations are already incredibly costly processes to run, getting them right is essential, otherwise, it can essentially be money down the drain. What using AI for your simulations does, in short, is improve the chances of you running successful simulations as a company.
2. More effective chatbots
Chatbots have already become popular additions to many workplaces in recent times, but with AI natural language processing (NLP) becoming ever more advanced, these chatbots will save even more employee time. This is something that's been echoed by analysts at Gartner, who believe that chatbot innovation is occurring "at a rapid pace".
Let's think about what a chatbot can currently do: it can gather your general information, your query/complaint area, reference numbers, and all sorts of other clerical and administrative information that would otherwise have to be filed by a physical member of staff. With this type of information, chatbots can either direct the user to the most relevant human agent or, in some instances, offer the solution themselves (guiding you through to a payment page, for instance, or a help page).
The issue as it stands, though, is that many people are still reluctant to the idea of messaging a chatbot as it lacks that human element. With the development of sophisticated NLP, however, these chatbots are able to have increasingly human-sounding conversations, meaning more and more people are likely to use them moving forward. And what does that mean? More time for your physical employees to focus on other, potentially more creative tasks, bolstering productivity as a result.
3. Processing large quantities of data more quickly
Undoubtedly, one of the biggest productivity gains organisations achieve by utilising AI is saving time processing huge data sets. With artificial intelligence algorithms, data analysis of these large quantities of information is easier and quicker than ever, and decision-makers can infer trends and patterns that previously would've been hidden amongst the sheer quantity of data.
By taking all the data, processing it and packaging it in a more accessible, easy-to-understand format, executives not only make smarter decisions but have more time to focus on other important parts of their job role. With AI apps like Polymer and Tableau, you can access hidden insights and relevant information to boost productivity and improve your business's operational efficiency.
4. Take less time to make the right hires
The recruitment process is one of the most resource-intensive business processes across all counts. It takes up both company time and money to get the right hire, and even then, there's a risk that you hire the wrong person, and that can cause even greater losses. In fact, according to HR Magazine, the cost of a bad hire is thought to be three times higher than the salary paid.
In other words, recruitment can be something of a productivity drain, drawing your HR team and other employees away from other important tasks they have to be getting on with. Fortunately, with artificial intelligence, companies can improve the efficiency of this typically inefficient area. How?
Filtering and screening resumes
AI software (with ML or NLP algorithms) can be used to provide an initial review and screening of candidate resumes, analysing the keywords, grammar and statistical data found within the document. If it meets the employer's set standards, the resumes will then be passed through, whilst unqualified candidates will be filtered out.
So, AI technology isn't being used to choose the specific person you want to hire, but what it does instead is separate the good from the bad, meaning that the time the HR department does have allotted to the recruitment process, can be meaningfully spent looking at genuinely viable candidates, rather than themselves manually wading through the resumes of candidates who would never realistically be suitable (if they're drastically under-qualified, for instance).
5. Content creation and AI writing
You've probably heard of Grammarly. Many of us use it day-to-day. But did you know that it's powered by artificial intelligence, enabling it to enhance the tone, readability, and clarity of your words? AI-powered tools really are everywhere if you know what to look out for.
This isn't the only way writers and content creators can benefit from AI. There are productivity tools, like Jasper, dedicated to writing blog posts, social media posts, copy and content based on a brief. Artificial intelligence writing tools are a great option if you need to scale your content strategy, remove writer's block or simply create things done quickly.
Of course, even powerful technology still needs a human touch, but greatly reduces the amount of time it takes to build your content calendar or write copy for your website.
6. Web and desktop apps for personal and everyday productivity
Not only is AI boosting productivity from an organisational level, but it's also being used by creatives, employees and all kinds of professionals across every industry to save time and energy. Take a tool like Motion, for example, which uses artificial intelligence to plan your day, building the perfect schedule from your meetings, tasks, and projects - anyone could benefit, even students.
Brain.fm optimises your audio streaming to boost focus and concentration for enhanced brain function, while Timely is a time tracker that monitors your time spent in web and desktop apps to reveal where your time is really spent - ideal for those who work with clients.
Final Thoughts
If leveraging these sorts of higher productivity sounds like something your business could benefit from, then why not consider taking an AI-related short course or microcredential with UTS Open? We have a range of courses, including our Ethical AI for Good Business microcredential, and our Artificial Intelligence and Machine Learning Masterclass short course, to name just two.
AI tools are being used to improve productivity, with chatbots, recruiting, data analysis and improving the resource-intensive process of simulations, the business world is going to be transformed with the help of AI productivity tools.
Check out our catalogue of technology courses.
