The Impact of Artificial Intelligence on Corporate Decision Making

Artificial intelligence was primarily a science fiction subject for decades, but it has dramatically changed nearly every industry over the past years and decades. In fact, the percentage of businesses that use or plan to use AI rose from 10 percent to 37 percent in just four years from 2015 to 2019.

In this article, we’ll take a look at how artificial intelligence and services such as the ai-powered bi tool are changing the way businesses around the world approach key organizational decisions. While we’re only beginning to scratch the surface of artificial intelligence, it’s clear that AI will play a major role in both consumer and business applications throughout the 21st century.

AI and Efficiency

Before artificial intelligence and machine learning tools were widely available, businesses often had to invest substantial resources into research and data collection. These were far more expensive and time-consuming than contemporary AI solutions, and they were at a significant disadvantage when it came to the results.

Today, companies that leverage AI and ML can make more accurate and agile decisions at a fraction of the cost. While these implementations work differently in each industry, artificial intelligence is transforming common practices in nearly every field.

AI in Healthcare

Healthcare is the perfect example of a sector that was waiting to be transformed by AI. By nature, healthcare organizations work with large volumes of patient data—including extremely sensitive information that’s governed by HIPAA and other regulations.

With AI, healthcare organizations can analyze an incredible amount of data and use it to find patterns that wouldn’t be identified by human employees. With that in mind, it’s no surprise that the healthcare AI industry is expected to grow by more than 40 percent per year from 2021 to 2028.

Implementing AI and Predictive Analytics

If you want to get the most out of AI and predictive analytics, you need to fully commit to understanding and leveraging those technologies. This can require significant time and money upfront, but the returns are well worth the investment.

Artificial intelligence will never replace human input—the way you implement AI systems into your practices will determine your long-term results. Effective implementation of artificial intelligence, machine learning, predictive analytics, and other cutting-edge technologies depends on buy-in at every level of your organization.

AI is growing rapidly every year, and companies that fail to adapt will quickly fall behind the competition.