At the end of 2022, Artificial Intelligence (AI) was starting to get on everyone’s lips due to the birth of a new chatbot that was able to provide human-like answers to complex questions using a large amount of data.
Today, this revelation in the AI and machine learning fields hasn’t stopped fascinating the masses and companies are rapidly gearing up to become active in this market field.
Based on intentionality, intelligence, and adaptability, AI can have a huge impact on the global economy. Firstly, when AI increases productivity growth, it increases economic growth as well, making international trade grow too. This can happen thanks to the expansion and automation of digital platforms that choose to add AI to their services. In addition to this, businesses can use AI to handle complex production units by providing a centralized management system.
Applying AI to expand globally
Companies that aim to expand globally cannot ignore the constant growth of these technologies. In addition to the automation of digital platforms, AI helps businesses to reach new international markets in many ways:
- It offers instantaneous, accurate translation services that improve conversations, decrease miscommunications, and make international cooperation overall more effective.
- In addition to communication, AI also enhances the outcomes. Trade negotiations can gain advantages from this technology’s predictions in many scenarios.
- The supply chain can be monitored by AI, which can respond to the patterns of the demand by increasing or decreasing production.
- AI can free companies from bureaucratic tasks by automating them, to let them focus on higher-level tasks.
- Lastly, applying AI can improve efficiency and accuracy, accelerating processes and avoiding mistakes.
AI is changing the way companies make business, but it is also shaping their future by for example predicting new trends, interpreting information, and reducing costs: interesting advantages to keep an eye on.
Source: CRIF - Skyminder