Artificial intelligence will become essential for future businesses

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Years ago, Artificial Intelligence (AI) left the realm of science fiction to enter our lives and, although it is still in the early stages, its rise will lead to a boom comparable to the advent of the Internet in the past.

According to experts, this technological innovation “is the combination of algorithms to create machines with human-like skills”.

Faced with this reality, the leader in delivering enterprise software, IFS, announced the connection of new AI-enabled and collaborative integrated systems with tailor company systems to gain the crucial intelligence of larger financial markets and industries in real time, delivering massive financial and strategic value by 2019.

“Systems like IFS Enterprise Operational Intelligence (EOI) will become essential as large corporations become more entwined with world markets and the pressure to turn data investments into value increases,” said Steve Treagust IFS Global Industry Director for Finance, HCM & Strategy.

Treagust stated that in volatile times “the new generations of AI-enabled strategy tools will become powerful need-to-haves.”

Moreover, the Accenture Company noted that AI is a new factor of production and has the potential to introduce new sources of growth, changing how work is done and reinforcing the role of people to drive growth in business.

The impact of AI technologies is projected to increase labor productivity by up to 40 percent and enable people to make more efficient use of their time in 2035.

The ideal fields for AI applications would be customer service, Information technologies and security, Human resources, and Marketing and sales.

Integrating AI into these processes will mean optimization of business processes, better user experience and millions of dollars in cost savings for companies. Undoubtedly, AI implementation is the door for business growth.

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