According to a recent article posted on the Forbes, almost 80% of the firms have incorporated some form of AI and 30% of the enterprises intend to increase their investments on AI by the next three years. In such a scenario, the employees should also be ready to adapt to the technology. Artificial Intelligence is a buzzword in the present scenario. It is a field where machines are programmed to have human-like thinking. The technology has taken the world by storm and is here to stay. It is playing an imperative role in a host of companies of varied nature. The businesses are exploiting the technology to offer their patrons with the best services. Netflix is using AI to curate films and TV shows according to the viewer’s preferences. Most of the businesses have their own virtual assistant, all thanks to AI. Not just this, but Google Assistant and Siri have even facilitated millions of smartphone users to perform operations via voice commands.
Significance of Artificial Intelligence in Industries
One thing is quite evident that AI impacts the industries in a big way. As per Forbes, the three major industries impacted by Artificial Intelligence are IT and communications by 59%, customer services by 32%, and professional services by 43%. Companies are investing a hefty sum of money in AI to improve the operations and productivity. Apart from this, there are various other advantages of using artificial intelligence as stated below:
- It automates the day-to-day tasks thereby saving time and money
- AI increases the productivity
- It facilitates in making right decisions based on cognitive technologies
- It eradicates the human errors
- AI provides insights about customer preferences that can be used to enhance customer experience
- It is helpful in digging out data that can be used to generate leads
- It maximizes sales opportunities and increases the profits
- It helps in achieving cost savings
Why your company should invest in AI?
The enormous benefits of AI prove its importance for modern-day businesses. Tech giants like Google, NVIDIA and Amazon are spending a hefty sum of money on artificial intelligence. AI is, in fact, the future of many industries. Therefore, to stay abreast in this era where businesses are adopting this cutting-edge technology, it is vital for your business to invest in the technology. Investing simply doesn’t mean procuring machines and making use of AI technology, but you should also invest on training your workforce on AI.
Why should corporates train their workforce?
According to Pew research survey, 87% of the employees believe that getting trained and developing new skills is necessary to keep pace with the changes in the workplace.
Whenever a new technology is launched, people need to be trained appropriately to use the technology to the fullest. Top companies realize the significance of training and that is the prime reason that they are at the top. Forbes spent $130 billion USD in the year 2013 to provide training to its staff. Google made Tensor Flow free to everyone so that the curious tech geeks can learn it. For enterprises, there are many reasons to constantly train your staff. Let’s have a look at some of the reasons:
1. To keep up with the technological changes
The field of technology is constantly evolving. Every year, new technological trends hit the market and AI is one of them. It is, in fact, a technology that is expected to be incorporated in industries in a big way. Thus, your business should not be left behind in any way. For this, you should make sure that the skills and know-how of your staff are up-to-date. This can only be achieved through training. Running a single training session is not enough. Regular training is vital to make sure that your staff is acquainted with all the technological advancements.
2. To stay ahead of the competitions
If your workforce is advancing continually and developing skills, then that will facilitate your business to forge forward and constantly remain competitive in the market.
3. To identify the weaknesses
Regular training enables the businesses to recognize the skill gaps among their workforce. When the skill gap is identified early, it gives ample time to the businesses to train their staff in the areas where they lack. In this way, the staff members are able to fulfill their role efficaciously.
4. Provide opportunities to the existing staff
It is not always viable for the companies to hire new candidates who have knowledge about a particular field. Instead of hiring new candidates who are well-versed with AI technology, it is better and beneficial to train your existing staff. This will save your money as you won’t have to create new job positions and invest in them.
These were few reasons that enlightened the significance of training your staff on AI technology. The biggest advantage that it garners for the businesses is increased productivity and profits. Constant training of employees boosts their skills and keeps your business alive in this competitive era. So, start emphasizing on training your employees and contact Cognixia for your training needs.