The #1 Way That AI Can Transform Your Business

Generative AI can automate routine tasks that would otherwise be time-consuming and labor-intensive, such as data entry and scheduling. Automating these low-level tasks frees up humans to work on high-value tasks that AI can’t complete, such as those that require empathy or complex problem-solving.

Some specific examples of AI use in business include customer service, software development, and knowledge work. AI technology can significantly increase the efficiency of workers in these industries-studies have shown that when knowledge workers use generative AI, productivity increases by 40-50%.

Increases in productivity are closely tied to decreases in expenses, although AI drives cost savings in other ways as well. AI can cut expenses by reducing human errors and optimizing areas such as delivery logistics and supply chain management. For example, Amazon uses AI to find the most efficient delivery route for packages.

Businesses can also reduce labor costs by using artificial intelligence to streamline operations. For instance, a retail company using AI for inventory management can drastically cut down on the costs associated with overstocking or under-stocking products.