Are you looking for greater efficiency in your business -how about considering Ai impact?
What is your go-to metric for a great Ai innovation? There are a lot of answers to this question, however a key one should be; what is the Time-to-Value that AI products give to you or your business?
The greater the improvement that is created, and the more time the product saves the more successful the business will be.
As productivity is one of the key factors in the success of any business it stands to reason that where any existing process or system, is improved or made more efficient by Ai, the higher the likelihood is of greater success.
A few recent examples where AI has significantly improved productivity across processes in various industries are:
- Manufacturing and Robotics: Ai-powered robots and automation systems in manufacturing have led to increased efficiency and productivity. AI algorithms optimize production lines, predict maintenance needs, and improve quality control, leading to reduced downtime and higher output.
- Healthcare: Ai applications in healthcare have improved productivity by automating routine tasks such as scheduling appointments, processing medical records, and even assisting in diagnostics through image analysis and pattern recognition. This allows healthcare professionals to focus more on patient care.
- Financial Services: Ai algorithms are used extensively in finance for fraud detection, risk assessment, algorithmic trading, and customer service. These applications streamline processes, reduce manual errors, and enhance decision-making capabilities, thereby boosting productivity in financial institutions.
- Transportation and Logistics: Ai optimization algorithms are used to improve route planning, logistics management, and fleet operations. This results in reduced delivery times, lower fuel consumption, and overall efficiency gains in transportation networks.
Improvements in human productivity have also been achieved via introduction of Ai products such as personal assistants, workflow automations and a wide array of digital collaboration tools, and new tech start-ups are now actively using Ai to enhance human productivity in various industries
A new Tech company in South Africa, Hawktivity, specialises in improving productivity through the use of AI. They utilise computer vision technology to help businesses in a variety of industries, to optimise their operations and boost their bottom line.
Their process uses vision technology to accumulate masses of human movement data and then to extract useful data such as the number of customers in a store at any time or the number of people in queues or waiting for deliveries and so on.
This data is then analysed via Ai and machine learning to predict future outcomes and help to optimise the business systems and operations, with actionable insights.
Businesses today who want to succeed, are likely to start investing more in proven Ai driven products, or to develop their own, and this in return will provide better processes and save time that can be invested into more scaling or improvements of their products or services and thereby providing their business with a growth catalyst, allowing more focus on growth and less on business operations.
