– Siddharth Pant, Head of Data Sciences (Academics & Operations), UNext Learning
As the evolution of high-performing technologies like Artificial Intelligence (AI) continue to explode, they are bound to bring monumental changes in organizations across the public and private sectors. Gartner predicts Artificial Intelligence (AI) will reach $62 billion in 2022 alone, increasing 21.3% from 2021. Therefore the current need is for a whole new genre of management that can effectively pair the technological requirements of a business with that of a leader’s vision for effective enterprise growth. The immense popularity of Artificial Intelligence (AI) can be attributed to the fact that along with its very high versatility; new applications & opportunities are constantly being discovered, forever expanding its horizon of possibilities. Thus, today we can witness a drastic increase in demand for innovative market leaders who can effectively drive business growth by adopting the latest Artificial Intelligence (AI).
With Artificial Intelligence (AI) continuing to play a pivotal role in all aspects of an organization, the need for visionary leaders who can manage this growth by maximum optimization of available technical talent is very high. The flexibility of Artificial Intelligence (AI) allows it to be adopted in all business operations, making it the top required skill for professionals looking for successful career growth, especially as C-suit officers. Here are a few business functions where management skills and knowledge of Artificial Intelligence (AI) technologies will help you create business wonders.
Management With Artificial Intelligence (AI)
Most of a manager’s time is unnecessarily consumed in addressing the routine operations of a team like report generation, attendance management, etc. If these administrative tasks can be mechanized with Artificial Intelligence (AI), it would considerably free up their time and allow them to focus their innovation and energies on more productive tasks. It will ensure effective management of team activities and reliable employee performance tracking, providing managers with data-driven insight into overall team performance.
Marketing By Leveraging Artificial Intelligence (AI)
Integrating Artificial Intelligence (AI) into marketing strategies is one of the most effective and promising utilization of this booming technology. Artificial Intelligence (AI) is already being extensively used to personalize customer experiences, develop target ads, and create dynamic pricing in today’s market. According to Semrush, the forecasted annual growth rate of AI between 2020 and 2027 is 33.2%. As Artificial Intelligence (AI) continues to get sophisticated, its integration rate into marketing activities will only get higher, requiring managers with sufficient Artificial Intelligence (AI) knowledge & skills to handle the same.
Easy Business Operations With Artificial Intelligence (AI)
In recent years, a significant increase in Artificial Intelligence (AI) implementation can be observed in most business operations. These integrations greatly help in automating processes, tasks, and relevant manual operations that would have otherwise been highly labor-intensive and time-consuming. The most significant impact of Artificial Intelligence (AI) can be observed in customer service. A survey by Forrester revealed that 89% found chatbots to be useful or very useful for personalizing customer interactions. With increased precision in identifying customer needs, professionals can focus on managing and fulfilling the same by adopting cost-effective methodologies. Therefore knowledge of these Artificial Intelligence (AI) techniques is greatly appreciated by organizations in recent times.
Reliable Recruitment With Artificial Intelligence (AI)
The most backbreaking task of an organization is identifying the right talent, hiring them, and then ensuring they continue to have a mutually beneficial relationship with the organization. However, the trickiest part of the entire process is shortlisting suitable candidates from an entire pool of potential prospects. Adopting Artificial Intelligence (AI) techniques can help HR professionals in this particular shortlisting step by significantly reducing the time it takes to identify the right candidates. This otherwise exhaustive task can quickly become fast-paced, making the entire process stress-free and highly goal-oriented.
Build Competitive Advantage
Today Businesses can build a significant advantage over their competition and sometimes even create a whole new business model by appropriately using cutting-edge Artificial Intelligence (AI) and Machine Learning (ML). We have seen how media and content streaming giants have used AI-based recommendation systems to transform user experience and keep users hooked on their platforms.
There are numerous ways to add value to businesses. However, the current market demand is to be able to adopt the advancing features of Artificial Intelligence (AI) to effectively and efficiently manage and drive businesses and business operations. Leaders who can find the right balance between the knowledge regarding the technical aspects of emerging technologies and the management skills to adopt the same effectively are the only ones who can drive business growth in the current market trends. Jigsaw’s Executive PG Diploma in Management & Artificial Intelligence, in collaboration with IIM Indore, is one of the best ways to light up the real business value with practical Artificial Intelligence(AI). The course pedagogy is designed to deal with both technical and quantitative aspects of Artificial Intelligence (AI) and management skills, along with helping to develop the necessary strategic mindset to reinforce data-driven decision-making.