Management of Artificial Intelligence
Artificial Intelligence (AI) is not intended to replace humans, since it does not have their capacity to adapt to change, especially in a highly volatile environment such as the one we live in today. Moreover, AI cannot use emotional intelligence, a crucial soft skill in relationships with employees. On the other hand, AI can boost productivity and profitability if it is used properly.
AI increases profitability by 38% on average
A recent Accenture Research study demonstrated the impact and benefits of AI in 12 advanced economies. The study states that this technology is likely to increase profitability by 38% on average. By 2035, AI is expected to significantly boost gross value added (GVA), with an expected growth estimated at $14 trillion.
AI has all the necessary elements to boost growth in different industries. However, according to the Accenture Research study, the three sectors that seem to benefit the most from AI integration are Information and Communications, manufacturing and financial services. Until now, AI has been limited to R&D labs. Today, it is more and more used by Marketing Departments (Chatbots, Marketing Automation, etc.).
Impact of AI on work and organizations
At a time when digital technology is transforming managerial practices within companies and institutions, AI becomes an essential asset to shine. Through its various applications, AI help manager optimize production means, apply predictive maintenance, improve the decision making process, increase human expertise, establish a culture of innovation and help employees focus on more valuable tasks rather than loosing time in repetitive duties.
By leveraging artificial intelligence as a new productivity driver, it is possible to revolutionize the way teams operate and drive growth through three key elements:
- intelligent automation, by improving the production chain through AI-driven optimizations to supply chain management, sales processes, etc.
- capital development, by delegating low-value-added, repetitive and time-consuming tasks to AI. This maximizes asset utilization rates and gives employees more time to focus on core tasks with an extremely positive impact on productivity.
- the spread of innovation within the company and the development of new products that better meet customer expectations. AI can also get rid of hidden costs and drive competitiveness.
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