2.7 AI in Business
In this chapter, we have explored a variety of AI tecnologies, explained how ChatGPT works, and discussed the current state of NAI vs AGI. Let's wrap up with some basic examples of how AI is currently being used across different levels of the organization.
Executive Level
At the executive level, AI primarily plays a support role. It supports strategic decision-making by providing insights from large datasets. Predictive analytics can forecast market trends, consumer behavior, and financial outcomes. AI supports risk management by helping executives summarize the total costs and benefits of various initiatives or decisions. AI also supports innovation and growth by helping executives to identify new business opportunities and lead to the development of new products or services.
Mid-Management Level
AI can be viewed as a form of augmentation at the mid-management level. It can provide employee performance monitoring and give managers real-time feedback. This helps identify areas for training and improvement. AI helps managers allocate resources efficiently by analyzing project requirements and employee capabilities. AI-powered CRM systems can help by analyzing customer data to improve customer service and satisfaction.
Operational Level
At the operational level, AI helps by automating repetitive tasks. This allows employees to focus on more complex and value-added activities. This includes data entry, scheduling, and basic customer service queries. AI tools assist employees in completing tasks more efficiently. For example, AI-powered assistants can manage emails, schedule meetings, and generate reports. In manufacturing, AI-driven systems monitor production lines for defects and predict maintenance needs, ensuring high-quality output and reducing downtime.
In Summary
In summary, AI provides incredible value through all functions of a business in every industry. You can provide value to a business by learning about AI technologies, understanding AI possibilities, and by creatively building information systems that leverage AI in business.