It’s becoming increasingly challenging to keep up with AI’s impact. While it permeates every sector, some are embracing it more than others.
While it might advance efficiency and free up tasks for human workers, it’s crucial that we also weigh up the human impact and other potential negatives to ensure that business operations are truly enhanced and that the overall net result is positive.
Industries That Are Embracing AI
Many sectors thrive on implementing the latest technology. With AI fast becoming the most significant technological development of the century, companies in dozens of different sectors are scrambling over each other, trying to find premium innovators and maximize their business output.
These include computer coding, content writing, financial trading and investment, digital security and gaming.
Artificial intelligence has such a profound impact on gaming that it has transformed almost every facet of it.
This includes design level, bug-fixing, story writing, sophisticated NPC development, intelligence and awareness, and identifying key areas where advertisers can be most effective.
Casino gaming may be a smaller area of the wider gaming sector, but it is also embracing the technology remarkably well.
By using various tools to break down gambling data and utilizing AI to drive engagement in virtual games such as poker and roulette, the casino industry is at the forefront of some of these AI-driven changes in the UK business sphere.
This is something many analysts have noted in online games across the UK, as well as in the broader casino gaming industry.
By freeing up the more menial areas of casino gaming, automation and AI are allowing game developers and security specialists more time to focus on the human elements of their job where AI hasn’t caught up – well, not yet, anyway.
Removing The Mundanity
The whole appeal of AI implementation is that it can perform mundane tasks or jobs that usually require a lot of manpower. It’s similar to the original transition from paper filing to computers.
Instead of having teams who dealt with the secure storage of filing cabinets and the data within them, entire sectors moved their storage online to cloud-based alternatives, thus removing a lot of the administrative need for these teams to exist.
Customer service, in general, is becoming the first notable area where customers are able to witness first-hand just how much we’re moving toward AI-focused basic tasks – ranging from basic email query response to live chat bot solutions.
While there’s definitely a bit of work that needs to be done to bring some of these AI bots up to the same standard as competent, human-drive, customer service agents – recent updates have highlighted the great strides companies have taken in pioneering new ways for customers to contact and interact with services they use.
Customer management AI-driven models can summarize in minute detail the specifics of a conversation that’s just taken place, usually within a few seconds.
If you’ve had hands on experience of this technology, you’ll know that it is leaps and bounds ahead of anything that customer service managers and team leaders had access to, even in the latter stages of the 2010s. While it’s not perfect, it’ll be fascinating to see where it is five years from now.
AI in finance is able to tailor personalized packages for customers, digest large amounts of data and create advanced customer profiles, among other things.
It’ll also be able to detect financial irregularities and potential fraud much quicker than it currently can, by using the same profile-building AI tech to identify potential discrepancies in customer accounts, or unusual activity that may fly under the radar of current technology.
Genuine Innovative Developments And Enhancements
We could be here all day talking about the developments of AI in each individual sector. However, the changes in finance show how streamlining the overall business can result in a smoother customer account.
Gone are the days when automation would use primitive AI and cumbersome tools and techniques that would either leave customers frustrated or create other unforeseen issues, which meant that the developments weren’t too innovative or failed to have a positive impact.
If you have used a chatbot at one of the big UK banks over the last couple of months, it’s a lot harder to tell the difference between the robot and the human, initially.
If you have a particularly complex query, then it still has limitations, but for anything essential or anything that can be done via automation, AI has developed to such a degree that it is now the go-to technology and is streamlining a lot of this base-level customer service.
Of course, this isn’t just in the financial sector, either; this is stretching out right across other sectors as well.
It’s the tsunami of investment and research that’s currently pouring into AI that has meant innovation and creativity are driving some phenomenal new ideas – with the main focus being balancing efficiency with the human cost.
Ultimately, the tools should enhance humans ability to do the job, rather than put people out of work.
Summary
AI may not be the magic wand that some businesses were hoping for, and there are still limitations and downsides. However, businesses are starting to see the productivity of the most up-to-date AI tools in real-time in key areas of their customer service and digital security.
Analysts and economists believe we’re potentially a couple of decades away from AI wiping out all sorts of business roles, from customer service administration, computer coding and conveyancing to content writing and production, and so much more.
As long as we do not lose sight of why we implement this technology in the first place – and don’t overlook the human cost – it can certainly be a force for good in our business world.
If it gets to a stage where AI is doing the majority of the roles, it’ll concentrate the wealth at the top of corporations.
Ultimately, this will have a negative net impact on society further down the line, and this is the crucial balance that needs to be found through a combination of ingenuity and legislation over the next decade.
