Artificial intelligence (AI) has long been touted as a revolutionary element of technology. Even during its infancy, it’s already proving to be an indispensable tool in any business’ kit. This is further illustrated in the many ways that artificial intelligence is helping businesses cope with the difficulties posed by the COVID-19 pandemic.
With the current state of affairs, it’s easy to see the need to utilize the tools we have at our disposal in order to mitigate the economic blow from the pandemic. Artificial intelligence is no longer just an innovation; it has proven itself to be a necessity for a business to grow. Here’s why:
There Is a Massive Influx of Data
As people opt to confine themselves at home, they’ve altered the way they interact with businesses. There has been a massive shift from personal interactions to digital interactions. This means that new, unstructured data is being created on a daily basis.
This level of data is difficult to make sense of, which, in turn, makes it difficult to determine what consumers need. The ability of artificial intelligence to process massive amounts of data is what helps businesses cut through the noise and find the consumer insight that allows the business to make better decisions. You don’t necessarily have to fully invest in AI to get this done. In fact, companies like AI Data Innovations are tailored to cater to these types of scenarios.
New Scenarios Make Old Data Obsolete
The state of the economy changed almost overnight, and with it, so did the varying demands for certain products. While businesses normally rely on recurring data to make decisions, the sudden and significant impact of the pandemic has made this data obsolete.
The need for an effective prognostic tool is dire, especially when businesses don’t want to be leaving demand unfulfilled because they didn’t get their numbers right. The data processing capabilities of artificial intelligence plays a major role in helping businesses adjust to the new demands of the market.
The eventuality of a recession means that businesses may have to reduce the number of employees as a measure to keep the business afloat. However, even when the number of employees is reduced, the number of tasks that still need to be done will remain. With fewer resources left, it’s going to be much more difficult to retain the same level of productivity. Which is why many businesses have chosen to automate tasks. Aside from being able to perform the tasks needed, artificial intelligence also frees up resources, such that workers can focus on tasks that require creativity.
Seeing as a growing number of people now depend on the internet, it’s common for cybercriminals to take advantage of this need. In fact, just as there was a spike in internet use, there has been a spike in the frequency of cybercrime. Cybersecurity is essentially an arms race, and there is a constant need to evolve.
This entails being able to analyze patterns and detecting the anomalies from what is standard user behaviour. Next-gen firewalls will have machine learning integrated into them for this very purpose.