Deciding where to place artificial intelligence within an organization is key to optimizing productivity, increasing efficiency and keeping a competitive advantage, Harvard Business Review reported Dec. 3.
Here are three strategy areas in which to implement AI:
Predictions
AI can be used to help predict patterns, and thus scope out disruptions to the patterns before humans can. Used in forecasting, AI can help companies prepare for potential storms on the horizon, allowing them to weather them faster and reduce the shock effect.
Efficiencies
Automated processes and filters powered by AI in human resources and administrative departments decrease the amount of time staff spend on monotonous tasks, freeing up their time to focus on more important, human-centered roles.
Real-time optimization
Algorithms can help companies shift strategies and approaches in real time, responding to external factors. For example, the technology can adjust pricing of health insurance policies and individualize it in real time, creating immediate effects.