The power of artificial intelligence in business management

Published on 02/04/2024

The power of artificial intelligence in business management

Published on 02/04/2024
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The power of artificial intelligence in business management

Digital and technological transformations have become useful in all areas of human interest. At the corporate level, the involvement of technology is fundamental, as there can be no margin for error. Business management is increasingly complex due to the massive volume of data generated daily. Thus, to automate and simplify processes, leveraging the development of Artificial Intelligence is a great opportunity for optimizing business development.

In this post, we aim to explain the positive impact of Artificial Intelligence in the business world and also present a use case for one of WorkMeter‘s products.

As we have mentioned, a company generates high amounts of data daily depending on its business activity, a consequence of the ease technology provides to automatically obtain them. It’s important to understand that each piece of data has its own function and utility, losing them means a loss of information that translates into a loss of productivity and money, as well as opportunities for improvement. Therefore, analyzing them and making decisions based on them is a key factor in optimizing business management, and for its objectivity, Artificial Intelligence is necessary.

What is Artificial Intelligence?

Artificial Intelligence (AI) is a combination of algorithms designed with the purpose of creating a replica of human intellect through technological processes and systems. Currently, technological advancements have allowed the extrapolation of some unique capabilities of the human brain to technology. This is why it is possible to endow inert beings with human intelligence.

Artificial Intelligence, integrated into systems and machinery, allows identifying problems and solving them, facilitates information in real-time, is clear and objective, thanks to its activity identification, and simplifies decision-making, but most importantly, it complements human intellectual effort to improve the management of all types of systems and companies. This positive impact on management is possible thanks to the four computer processes and pillars on which Artificial Intelligence is based:

  • Artificial neural networks: Consist of a set of units, called artificial neurons, connected to each other to transmit signals. The incoming information must pass through a network where it undergoes various computational operations to finally recognize and produce output values. This allows for deep learning from the data obtained to determine the correct outcome.
  • Genetic algorithms: Subject data to a series of random actions as well as a selection according to an established criterion, based on which it is decided which data are more or less suitable for selection or discarding, generating automatic learning of the system.
  • Logical reasoning: Involves understanding different aspects of reasoning in a way that allows the creation of computer programs that enable computers to reason either completely automatically or nearly automatically.
  • Search for the requested state: Different states of an instance are identified with the aim of finding a “final state” with the desired characteristics. Thus, a predictive analysis of the situation is performed.

How Artificial Intelligence optimizes business management

Decision-making is simplified through Artificial Intelligence, suggesting that optimal business management depends on the integration of Artificial Intelligence into its structure. The various departments, reliant on effective business management, aim to optimize resources in the shortest time possible, ensuring the maximization of profits. Artificial Intelligence serves as the accelerator enabling the swift achievement of this objective as it directly impacts all functions of business management: productivity and performance, professional talent, product creation, marketing, user and customer experience, and the job market. Here’s how it affects each sector:

  • Productivity and performance

Artificial Intelligence enhances a company’s performance and productivity through the use of systems responsible for routine processes. This is possible through information exchange and the analysis of unstructured data.

  • Professional talent

Artificial Intelligence has freed workers from mechanical activities by automating processes. Their efforts can now focus on enhancing creativity, innovation, and other professional skills that foster the company’s growth across different development areas and lead to its success, avoiding unproductive activities or time losses.

  • Product creation

The pillars supporting Artificial Intelligence are differential elements in product creation. Many software and application functionalities have been enhanced through the integration of computer processes with human intelligence capabilities, allowing for the automatic identification of behaviors, preferences, predictive analysis, objective data, etc. This information promotes product effectiveness and enables continuous improvement of its functionalities.

  • Marketing

Artificial Intelligence systems can recognize in real-time all the details of each product and service offered for proper commercial management: storage, distribution, and sales.

  • User and customer experience

Artificial Intelligence algorithms enable automated responses to customer needs, enhancing the user experience. This is due to its comprehension capacity, which allows it to recognize customer behavior and design loyalty strategies based on the identified target.

  • Job Market

Artificial Intelligence facilitates talent management, recognizing the company’s requirements to provide suitable candidates and carrying out processes based on the company’s talent management experience. This technological advancement will open new fields of work in companies, compared to others that will disappear. The number of jobs will remain the same, neither decreasing nor increasing. Artificial Intelligence is a significant advancement; however, it is not a creative, witty, or innovative human being.

WorkMeter’s experience applying Artificial Intelligence

Our Telecommuting Measurement Software, installed on all company computers, features a non-intrusive video conferencing detection system created from one of the aforementioned pillars of Artificial Intelligence; an artificial neural network that recognizes worker behavior. Incorporating artificial intelligence into our product opens the door to future improvements.

Detecting video conferencing may seem trivial, but it is a complex matter if done non-intrusively, i.e., without listening to the microphone or activating what is seen on the webcam. The challenge became evident when recognizing the different existing situations: different applications, different versions of the same applications, different types of microphones, webcams, and headphones, as well as different user behaviors. With our goal clear; identifying user behavior, not the company information they handle, we decided to implement a deep learning neural network (NN, AI), to cover the challenge of video conferencing detection, achieving a 99.99% accuracy rate. A very high probability.

Thus, we have incorporated a pillar process of Artificial Intelligence, and furthermore, we are not intrusive at all; user information is and will continue to be completely confidential. It is based on behavior and device usage that Artificial Intelligence detects the situation.

The business revolution due to Artificial Intelligence

We can conclude that Artificial Intelligence in business management presents a very positive growth trend and revolutionizes both business management and labor productivity. With a slow but steady increase in application and practice.

Artificial Intelligence is being employed to automate processes, reduce costs, and improve efficiency. It has also begun to be applied to optimize the user experience and improve decision times. Companies will start using Artificial Intelligence as a guide to know how they should act, as it will allow them to keep everything under control to avoid failures and declines in product and service quality, thus promoting good employee performance and consequently business productivity.
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