A Look at the AI Economy for 2020

The ways artificial intelligence are applicable to businesses are broadly universal. For example, machine learning technology can enhance manufacturing, supply chain, and transportation operations, using custom models and AI-based software to perfect efficiency, discover each department’s loss value, and even reduce waste. What better way to ring in the new year than enhancing your business? 

Oddly, more than half of business leaders (60%) are eager to find a reason to use AI, but only half of their organizations have actually developed a plan. In addition to directly interacting with your business, artificial intelligence can help your enterprise stay individual from the competition. Even so, 84% of enterprise leaders across the globe consider data science technology to give them a boost ahead of the competition.

Using Artificial Intelligence can also help you adjust comfortably to your business’ ever-changing market. For example, the transportation company Transplace dominates their high-variable market by using AI science to help predict their market’s future conditions. By doing this, Transplace saved $21 million in just 3 years.

In similar fashion, steel manufacturer Big River Steel meets rising demands and lowers their cost of energy by using smart tech. For example, to sense overlap, make corrections, and maximize production, automation can smooth processes.

There are several ways to go about incorporating artificial intelligence into your business; however, you must be serious from the beginning, plan for the long-term, and be open-minded to learning. Many of the top sectors such as financial, technology, and education rely on AI for the success of their business. Additionally, 1 in 3 business leaders believe AI will make the biggest impact out of all other technologies used within their enterprise in the next year.

Readying your enterprise for implementation of artificial intelligence should be at the top of your New Year’s Resolutions. Find more information on the ways AI can improve business in the accompanying graphic.