Artificial Intelligence (AI) has ushered in a new era of innovation and efficiency, profoundly transforming how businesses operate and thrive in today’s fast-paced environment. This article will dive deep into some of the ways AI complements and enhances various aspects of business, in ways that may surprise you. Many of the examples shared in this article are real-world examples, drawing from my decade-long experience as a growth marketing agency founder and my attendance at industry conferences worldwide.
Table of Contents
Data-Driven Insights: AI in Decision Making
The conversations around AI often include thoughts around robots replacing humans, or how the human layer must be necessary to make critical decisions. However, a more crucial discussion is how AI aids in making better-informed decisions by reducing the time and analytical processing required.
In my conversations with Tara Zedayko, the Founder of DIG Labs, AI’s power is leveraged to improve outcomes for pet health. AI as a technology unlocks a new level of personalization, speed, and accuracy that can save the life of a pet. “It’s not meant to replace the experts but to give pet parents or caregivers the tools in their moments of need to access the kind of expertise at the right time and get them to the right place,” remarks Tara.
So, how does AI accomplish this? If you’ve ever visited a radiologist or had an MRI taken, you may be familiar with the 2D images of organs and structures within the body. In the past, these images were sent to a lab where experts trained to recognize abnormalities in size, density, depth, and specific traits had to scan through thousands of images. Today, autonomous AI can not only scan through images faster than humans but can also learn to identify better than a specialized radiologist. According to a recent study published in Radiology, “Autonomous AI Shows Nearly 27 Percent Higher Sensitivity than Radiology Reports for Abnormal Chest X-Rays.”
With access to faster and better analysis, AI allows decision-makers to make more informed decisions. The application of AI in decision-making can be applied to any industry where structured or visual data sets can be analyzed.
Enhancing Operational Efficiency with AI
One of the technological breakthroughs making AI more useful for everyday people are Large Language Models (LLMs). In short, LLMs allow users to type in conversational prompts and the platform will understand the request.
With the proper permissions granted, AI tools can now comb through and analyze contextual data. You can ask queries like “summarize emails about the new business acquisition from last week in short bullet points.” Note-takers like Fireflies or Otter have completely replaced note-taking with a fully automated assistant that takes impeccable notes with actionable items and next steps.
AI streamlines processes that can take a lot of time and frees up resources leading to higher productivity and accuracy.
Interestingly, Rabbit R1, which was just announced at CES 2024, uses a different learning model they are calling the ‘Large Action Model.’ It touts an even more user-friendly interface, allowing you to buy groceries and send messages without having to use your phone. The fact that 10,000 units were sold out in one day shows that the world is eager for better models and methods of assistance.
AI Powered Influencers
AI influencers, also known as virtual or digital influencers, operate without a human controller. In many cases, their appearances are also synthesized by AI. Both brands and agencies are developing hyper-realistic AI creations that can even rival their human counterparts.
One of the most famous AI influencers, Lil Miquela, boasts over 2.6 million followers on Instagram and has been featured in campaigns for brands like Samsung, Prada, PacSun, and Calvin Klein. Debuted in 2016, she was one of the first computer-generated influencers. In 2018, she was featured by Time Magazine as one of the most influential people on the internet. AI powers her interactions with fans, with her story and content created through generative AI models.
Where Does AI Fit into Your Business?
The use of AI in business marks a new era of technological adoption and integration. While the benefits can include opportunities for efficiency, innovation, and competitive advantage, it is key to remember that the potential AI brings is a complementary one.