10 Top Applications of AI in Business

A detailed exploration of how AI is transforming business across 10 key applications


Businesses are using artificial intelligence (AI) a lot these days. They use AI either as a standalone technology for specific tasks or by integrating it into their existing software systems. Companies are interested in AI because it can help them work better, save money, stay ahead of the competition, and meet changing market demands. It is also worth mentioning that AI tools are becoming easier to use. Businesses are mainly using AI for data security, automating processes, and improving customer service. Natural language processing (NLP) is a popular use of AI. Overall, companies are using AI in more parts of their business than before.

Here are 10 top applications of artificial intelligence

Innovations, products, and services enhanced by AI

Some organizations are already using AI to innovate and create new products and services. For example, companies are improving telecommunications platforms, enhancing voice and image quality, and creating personalized merchandise using AI.

Automating Tasks

Organizations have been using AI to automate tasks like data entry for a while. Now, they’re using advanced AI, like generative AI, to handle more complex tasks such as summarizing reports and drafting communications.

Nicholas Napp, from the Institute of Electrical and Electronics Engineers, says AI is now taking over some of the repetitive tasks, which could impact many jobs. He says, “AI is really good at handling the repetitive parts of our jobs.”

Levelling up the Performance

AI can help workers improve their performance even in tasks that can’t be automated. For example, Grammarly uses AI to correct grammar and suggest better phrasings, helping users improve their writing. Generative AI can also assist workers with little experience in tasks like writing code, designing logos, or crafting marketing strategies, enabling them to perform at a higher level. Mike Mason from Thoughtworks says these AI applications help junior employees perform at a more senior level and allow experts to excel, enabling people to do things they otherwise couldn’t.

Creates variety of Creative Work

AI can now create various types of compositions, including visual art, music, poetry, prose, and computer code.

There are questions about whether AI-generated works are derivative, as the technology learns from the data it’s trained on. Despite this, organizations are using AI to create a variety of works.

For example, You can use ChatGPT to create real-world math examples or collaborate with you child to create game adventures.

Accessing knowledge via AI

Generative AI is helping organizations and workers access and organize knowledge more effectively. It allows them to search through large amounts of information and summarize it.

However, it’s important to note that this technology still needs human oversight.

Optimization through AI

AI is used for optimization in various industries and business functions. It uses algorithms to turn data into insights, helping organizations improve processes like scheduling, production, and pricing. AI can automate repetitive tasks, reducing manual efforts and increasing accuracy.

Boosts Productivity

Organizations are adopting AI to boost productivity and efficiency. According to Sreekar Krishna from KPMG, AI can perform tasks faster, more accurately, and at a higher volume than humans, making it valuable for many processes.

Effective Learning and Training 

Many organizations are using intelligence software to improve learning. These tools can customize educational plans based on each worker’s needs and understanding, making training programs more effective.

Quality Control with AI

Manufacturers are improving quality control by combining machine vision with deep learning. This helps them enhance the speed and accuracy of quality control functions while keeping costs low.

Deep learning models create rules to define quality, leading to more precise quality assurance.

AI for Industry Specific needs

AI has diverse applications across industries. In healthcare, it helps analyze data for better diagnoses and personalized treatment plans. In finance, it’s used for fraud detection and quick decision-making. In industry, AI is used for predictive maintenance and efficiency. In transportation, AI powers self-driving vehicles and improves traffic management.

Wrapping Up

In conclusion, AI is transforming the business landscape with its wide array of applications. From streamlining operations to enhancing customer experiences, these top 10 AI apps are just a glimpse into the vast potential AI holds for businesses looking to innovate and stay ahead in today’s competitive market.

Read more

Recommended For You