Business today should be as adaptive and flexible as possible, with an ability to change quickly in response to market and environment changes. However, in order to make good business decisions -- whether identifying new opportunities or building an effective business strategy -- you need to be armed with data. So having quick access to information is critical for making rational business decisions. Imagine how many piles of unstructured data McDonalds have to go through and analyze before they decide to add a new dish to its perfectly shaped menu? And the examples are endless.
The evolution of artificial intelligence (AI) is creating new opportunities for small businesses across industries to increase productivity and keep up with popular technology. According to industry projections, small businesses will increasingly adopt AI solutions, beginning with third-party apps and eventually progressing to proprietary tools. While AI may seem daunting, there are easy ways for small business owners to begin harnessing the power of AI-enabled tools and software. By focusing first on more basic solutions like Amazon Alexa, small business owners can improve their organizational strategies and ease accounting burdens, to name a few. By helping to automate tasks like organization and accounting, AI can help small business owners focus on big picture plans and overall operations.
Artificial intelligence is a grossly misunderstood technology, thanks to the sinister characters portrayed in science-fiction books and films as menacing robots and self-possessed toaster ovens. More recently, AI in its various forms -- machine learning, cognitive computing, natural language processing -- takes on a more practical tone. The cover story of April's Business Information on artificial intelligence apps explores how AI, ironically, makes human resources more human. AI embedded in talent management software allows HR departments to recruit, educate and retain their workers more effectively and efficiently. One program goes so far as to aid recruiters in rewriting job descriptions so they contain less gender-specific words and attract a larger pool of talent.