While the rise and evolution of Artificial Intelligence (AI) raises concerns and skepticism, its impact on efficiency can’t be denied. The benefits of AI technologies can be felt in every industry. We are diving into three AI technologies and how they can be used to not replace the human workforce, but act as a powerful tool and assistant in achieving increased revenue and efficiency.
Predictive Analytics
Predictive analytics combines the power of AI and machine learning (ML) algorithms to analyze data and develop models that predict or forecast future outcomes. From predicting consumer behavior based on market trends and purchase history to developing financial models that account for potential risks, this technology allows organizations in all industries to make better-informed business decisions. In the healthcare industry, predictive analytics are helping to reduce hospital readmissions. Algorithms are able to analyze medical history to identify certain chronic conditions, age, and other risk factors to determine whether an individual patient is likely to return in a short time period. As a result, medical organizations are able to identify and flag at-risk patients and line up follow-up care in an effort to prevent future hospitalizations, resulting in better patient outcomes and more efficient and effective care plans. Read our Innovations In Healthcare Technology eBook for more on how AI is impacting healthcare.
Generative AI
Generative AI has the ability to streamline processes for both personal and professional efficiency. Receive assistance in the writing and editing process, translate content into multiple languages for global consumption, extract key takeaways from a pile of documents, or record a meeting and generate a summary and list of action items. In the software development world, generative AI acts as an uber-efficient assistant software engineer. Generative AI programming and development tools allow you to skip the manual effort and generate blocks of code at a time. Cut down on testing time and get new features up and running quickly by leveraging this technology to analyze code for bugs, defects, and other quality issues. Overall, time and money are saved by incorporating generative AI technology into the software development process.
Automation of Repetitive Tasks
Tasks like manual data entry or file organization may soon be things of the past. AI enables today’s workforce to offload these mundane, repetitive tasks in pursuit of projects that require the human touch and make a bigger impact. Technology like robotic process automation (RPA) consists of software robots that are deployed to take on these types of tasks. This technology can be leveraged in any industry to increase efficiency. In the hospitality industry, we helped Great Wolf Lodge implement RPA to automate processes like cash reconciliation, night audits, and various other forms of financial reporting. RPA has saved employees hours each night and has allowed them to focus on guest interactions.
Are you unclear on how your business can best implement AI technology to promote productivity and efficiency? Let our team of experts help. Contact Xcelacore today to begin leveraging all these technologies have to offer.
