Three ways how AI could be used to benefit business management

Research conducted by Adobe Digital Insights (ADI) found that the automation and robotics are among the top-ranking items when it comes to workplace innovation. Surprisingly, the study also revealed that respondents- when surveyed- indicated that automation did not take away work from them rather they believe that robots made their tasks easier.

A separate survey of middle to top level executives believe AI is the future of corporate and business management, where it is could take on repetitive tasks such as documentation paperwork, general scheduling, and employee payroll or timesheets, allowing employees to take on more roles in terms of accomplishing goals and long-term business planning.

It matters not whether it’s in-house computer networking services or outsourced service from IT consulting firms the scope of artificial intelligence in business management is really dynamic.

Information technology has taken the role of playing an important role in businesses and organizations. But no matter how big or small an organization is, AI-driven It solutions IT will always have its place as an essential resource to help manage businesses.

Here are some of the notable benefits of artificial intelligence for business management.

Enables you to make sound critical business decisions
With machine-learning artificial intelligence processes, data analysis and business intelligence become evidence-based and avoids errors when providing solutions to issues and problems.  

AI’s evolving capabilities allow it to focus on meaningful and practical solutions to issues instead of ust banking on gut decisions. This makes the decision-making process more scientific and evidence-based.

It can either prompt businesses with known options or automatically take action to a problem and address it right away. It can provide robust data to help with critical decisions for a business or organization.

The power of automation
Artificial intelligence (AI)-driven IT solutions are synonymous with automation and productivity, only that it can do it better in terms of strategic approaches to address problems to provide the best available solutions.

It takes away the burden for people to do the repetitive operational tasks such as reporting, documentation, payroll, scheduling or inventory monitoring just to name a few. The amazing thing about AI-driven support solutions is that it adapts and evolves to streamline systems or operational processes without the need for human or outside intervention.

Dynamic data storage and network security
Storage systems such as virtual vaults or cloud networks are kept safe through intelligent security protocols that limit access only to authorized users within the company. It would only allow authorized personnel to retrieve, add or change documents or data to the networked data system.

It can provide a more robust storage and database capability for intelligence-based operational outcomes.

AR Workers Confident in Profitability

From Facebook’s Oculus Rift to Snapchat Lenses, the immersive media space has certainly become a headline grabber. But the big question is: How profitable could virtual and augmented reality (VR and AR) activities be in the near future? According to July 2016 research, fewer than half of VR professionals in the Americas anticipate gains from this work over the next 12 months.

In July, Greenlight Insights (formerly Greenlight VR) and Road to VR surveyed 514 VR professionals in the US, Canada and Mexico about their expectations on profitability of both VR and AR activities.

According to the data, 45.2% of respondents felt that their VR and AR activities will be cost-effective to their organization in the next 12 months. In contrast, 22.4% said they do not anticipate being profitable in that timefrome.

Of those that are expecting profits, 35.7% of VR professionals anticipate hitting VR- and AR-related revenues of $250K or less, according to the same study. But even more promising, another 38.4% are forecasting between $250K to $5 million-plus in revenues.

Devices that power home-based video viewing showed high US penetration rates in separate studies published in September 2016. Nielsen noted that 24% of US households had smart TVs in Q2 2016, while 76% had DVD or Blu-ray players, 53% subscribed to a subscription video-on-demand (SVOD) service and 44% had game consoles. The study also noted that 94% of households had HDTVs.

A study by Verto Analytics found that in addition to the 90% of US internet users who had desktops or laptops, 31% had smart TVs, 29% had game consoles and 21% had streaming media devices. Since consumers need only one such device to enable connected TV viewing, the combined penetration rates—coupled with the likelihood that other household members might be using the same devices—amount to mainstream adoption of home-based video streaming technologies.

Research from Ericsson, a communications technology company specializing in mobility, broadband and the cloud surveyed more than 30,000 internet users worldwide ages 16 to 69 who have a broadband internet connection at home and watch TV and view video on a weekly basis. Generally, the study found that more respondents are conducting digital activities via a smartphone or tablet, while at the same time watching TV, than they did in 2014.

For example, two years ago, less than a quarter of TV and video viewers said they browse the internet, related to the content they were currently watching. Fast forward to 2016, and nearly a third of respondents said they were doing so.

Helps Grow US Connected TV Audience

 

1US connected TV users will grow by 20.6% in 2016 to reach 181.8 million. Starting next year, growth will level off to single digits but continue in positive territory through at least 2020, when the number of users will reach 202.1 million, as explored in a new eMarketer report, “Connected TV and Over-the-Top Video: The Living Room’s Place in the US Digital Video Ecosystem” (eMarketer PRO customers only).

By 2020, connected TV users will represent 71.2% of internet users and 60.4% of the US population, up from 68.0% and 56.1%, respectively, in 2016.

Smart TV viewers will make up an increasing number of the connected TV user base during eMarketer’s forecast period. By 2020, 34.4% of connected TV users in the US will watch on smart TVs, up from 26.9% in 2016.

Smart TVs won’t be the only growth category within the group of devices that make up the connected TV universe. Amazon’s and Google’s streaming devices will enjoy the most growth from 2016 through 2020, followed by Roku players and smart TVs. Apple TV and game consoles will grow more moderately, while Blu-ray players will remain essentially flat.

Connected TV users as a whole will increase by a compound annual growth rate (CAGR) of 2.68% from 2016–2020—a lower growth rate than that of every device listed separately except Blu-ray players. This suggests people will increasingly use multiple devices, driving up the growth rates of individual devices more than the category as a whole.

As is typical with connected TV data, the number of households closely follows the number of users, with an average of 2.06 users per US household during the forecast period. By 2020, there will be 97.7 million US connected TV households, up from 88.7 million in 2016. Much like the user figures, growth will top 20% this year and recede into the single digits next year and for the rest of the forecast.

A GfK study titled “Over-the-Top TV 2016: A Complete Video Landscape” found that 36% of US internet users owned connected TV devices in 2016, nearly double the 19% who did in 2014. This particular stat was limited to set-top boxes and streaming sticks, and did not include smart TVs, game consoles, or Blu-ray and DVD players, though the full study looked at all of the above.

Connected TV accounted for 20% of US weekly time spent viewing digital video in August 2016, according to a Frank N. Magid Associates study. Mobile devices made up a combined 33%, while the largest share, 46%, went to computers. Even though connected TV had the smallest share of the three major device platforms, it grew by a factor of 2.5 in the two years leading up to the study, according to Magid.

The Living Room Place in the US Digital

Connected TV and over-the-top (OTT) video viewing are growing on the strength of streaming technologies and premium content aimed at living room screens. The advertising market will follow as connected TV amasses more scale.

US connected TV users and households will increase by over 20% in 2016 and are on track to continue growing through 2020, albeit at single-digit rates starting next year. The trend is led primarily by the popularity of smart TVs and streaming devices from Amazon, Google and Roku.
OTT video viewership is also increasing, particularly on subscription services such as Netflix, Amazon and Hulu. Ad-supported YouTube is nearly saturated, so its growth has slowed.
Worldwide, and aside from the VR professionals themselves, it’s also encouraging that investment in VR and AR companies has been on the rise. According to CB Insights, a venture capital research firm, since early 2014, more than $2.5 billion has been invested in VR and AR companies across more than 200

Worldwide, and aside from the VR professionals themselves, it’s also encouraging that investment in VR and AR companies has been on the rise. According to CB Insights, a venture capital research firm, since early 2014, more than $2.5 billion has been invested in VR and AR companies across more than 200 deals.

Devices that power home-based video viewing showed high US penetration rates in separate studies published in September 2016. Nielsen noted that 24% of US households had smart TVs in Q2 2016, while 76% had DVD or Blu-ray players, 53% subscribed to a subscription video-on-demand (SVOD) service and 44% had game consoles. The study also noted that 94% of households had HDTVs.

A study by Verto Analytics found that in addition to the 90% of US internet users who had desktops or laptops, 31% had smart TVs, 29% had game consoles and 21% had streaming media devices. Since consumers need only one such device to enable connected TV viewing, the combined penetration rates—coupled with the likelihood that other household members might be using the same devices—amount to mainstream adoption of home-based video streaming technologies.