What is artificial intelligence (AI)?

Benefits of AI

AI offers operational efficiency and accuracy beyond the status quo:

• Boosts productivity: The ability to automate and optimize manual, rule-based processes ensure error-free operations so that employees can focus on higher-level tasks. Hyland RPA is an example of a tool to streamline business processes by overcoming bottlenecks and inefficiencies caused by disparate systems and repetitive tasks. 
• Improves user experience: AI adapts through progressive learning algorithms to find structure and regularity in data. This means AI can accurately predict responses and redirect users to a suitable solution or product recommendation to enable real-time decision making.
• Increases competitive edge: Forward-thinking organizations apply AI insights to their business objectives to remain ahead of the digital race in today’s competitive landscape. AI optimizes processes and makes data-driven recommendations to produce more effective outcomes.
• Always available: AI helps ensure 24-hour availability and helps to maintain performance and consistency.
• Enhances customer experience (CX): AI-powered CX solutions can provide customers with the personalized guidance and support that they need and address problems effectively. This increases productivity as it reduces the strain on customer service employees.

AI in action

AI’s capabilities are always increasing, and it's become evident how it can radically change how organizations across different sectors operate. These are just a few examples of how AI solves everyday challenges:

• Banking and finance: Financial organizations today face diverse challenges and risks. AI can effectively help with data management, from real-time fraud detection to eliminating false positives. For example, fraudulent transactions can be predicted in real time, reducing the need for recurring screenings and streamlining investigations to provide customers with a speedy resolution.
• Healthcare: AI helps healthcare professionals improve health outcomes and patient experiences and supports clinical researchers with their work. AI tools help eliminate human error in processes like analyzing scans. It can also alert the medical team when it detects disease among critical care patients.
• Media and entertainment: In the age of online news sources, there is always a need to verify the accuracy and credibility of information. AI can help fact-check and filter out false or misleading sources. It can also be used to live caption broadcasts and videos, allowing journalists and content creators to work more efficiently.