For many business leaders, discussions about Artificial Intelligence are clouded by unrealistic narratives. On one hand, they face a barrage of negative press stoking fears of job displacement and dystopian business futures. On the other hand, some portray AI as a magic bullet that can solve all their problems with a single instruction.
Consider any of the industries that rely on technical report writing, plan checking or other document intensive review processes where delays are a growing bottleneck. In the pharmaceutical industry for examples, technical writers typically spend months crafting reports for approval. AI can automate this process by generating final draft level quality in minutes, allowing human experts to refine the output and significantly expedite the drug development cycle.
For example, a retail company could leverage AI to learn how to analyze purchase history and predict future customer needs in several different ways. This allows for more targeted marketing, optimized inventory management, and a more personalized shopping experience. By constantly testing and refining the AI model based on team and real customer feedback, they can create a powerful flywheel for driving sales and customer satisfaction.
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