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Harness the power of AI technology to drive business success

5 Aug 2020

Artificial intelligence (AI) is in the spotlight - and with good reason. South African businesses have been adopting this technology to gain a competitive advantage over their industry rivals while decreasing their operational costs and enhancing customer service.

Photo by Hitesh Choudhary on Unsplash.

Although the uptake of AI technology has been gaining momentum, there are still concerns and barriers that need to be addressed if it is to be used successfully.

But first, what is artificial intelligence?

Put simply, AI technology uses algorithms that give devices and machines the ability to recognise patterns within data. This information is then used to make decisions, mimicking human analysis. AI can be used for a range of applications, including improving business operations by automatically identifying problems and automatically implementing solutions, thus reducing the need for manual, human involvement.

The road to AI in marketing

Paula Sartini 20 Jun 2019

How can AI benefit businesses?

By leveraging AI technologies, businesses can boost their productivity by giving employees time to focus on more meaningful, strategic tasks. This is as a result of AI technology being used behind the scenes to streamline operations.

AI can be used to assist businesses in many areas, including fraud detection, improved data security, online store management or even by saving employees time with AI-enabled appliances.

While the benefits of AI technology are impressive, it is important to note that not all businesses are ready to build their own AI-enabled systems. The technology uses data to determine a course of action, which means that there needs to be a lot of high-quality data available to analyse and process. It is much easier for most businesses to use existing software or appliances that are already AI-enabled and apply them to their strategic needs.

#BizTrends2018: South African businesses should be investigating AI (now)

Colin Thornton 8 Jan 2018

AI technology is more than just a behind-the-scenes tool

While AI technology can assist with the more serious side of the business, there is also the ease of access aspect of things. “AI-enabled appliances provide a real opportunity for companies to increase employee satisfaction and productivity by making certain tasks easier for them,” says Grant Kruger, B2B Sales Manager, LG Electronics South Africa.