Artificial intelligence (AI) and machine learning (ML) have made incredible leaps forward over the past few years. What once sounded like a futuristic fantasy straight out of Star Trek is now a mature, reliable technology.
And this technology has the potential to boost the productivity of your business. Algorithms can significantly simplify workflows, automate routine tasks, and provide invaluable insights.
Here are three AI tools to increase business productivity – to help you work smarter and save time.
Simplify Legalese With Lawyer Bots
Legal business tasks swallow up countless hours of work or significant sums for hiring lawyers.
Lawyer bots can save you from having to wade through contract legalese yourself, or else paying dearly for legal advice.
A now-common task for AI-powered evaluation tools is to check contracts for legal soundness – within seconds. Many can also simplify complex legal terminology into plain-language summaries, so that you can quickly see what a document you’ve received actually says.
Big industry players are already harnessing these tools. For instance, JPMorgan recently started using the AI-based COiN (Contract Intelligence) system. It did in mere seconds what would have taken legal aides hundreds of thousands of hours of precious work time.
AI-Boost Your Communications to Increase Business Productivity
Next up, AI can help you increase business productivity by maximizing your communication efficiency. Modern Unified Communications platforms are packed with handy AI tools. These use natural language processing (NLP) to automate tedious tasks and save time.
With Interactive Voice Response (IVR) features, callers simply state the objective of their call and are routed accordingly.
NLP algorithms can analyze calls in real-time, recording full transcripts or abridged summaries. This is tremendously useful for future reference, or for documenting internal meetings.
Moreover, AI algorithms can effectively assist customer service agents. They can, for instance, automatically pull relevant records when they recognize a caller. They can also make suggestions for dealing with agitated customers in line with company policy.
Automate Smart Cybersecurity with AI
Finally, AI tools are becoming essential to maintaining your company’s cyber defenses. A successful breach can easily shut down your operations for weeks. Especially for small businesses, a hack is often fatal – 60% don’t survive it.
What’s more, sophisticated social engineering scams and ever-evolving malware variations mean that traditional antivirus systems are no longer enough to deal with threats.
That’s where AI comes in.
For example, the advanced pattern recognition capabilities of ML algorithms can detect new malware threats before they even enter your system.
Going further, AI can update itself on new cyber threats. For example, NLP algorithms can rapidly scan recent articles and studies on new social engineering threats. This allows them to alert you when you’re targeted, minimizing the danger of team members falling victim to criminals.
The Bottom Line: Increase Business Productivity Through AI
In 2021, AI and NLP are mature, sophisticated technologies already present in many aspects of our everyday lives.
By taking the time to see how to best integrate tools based on these technologies into your business, you can ultimately save yourself massive amounts of work, money, and increase business productivity.
Image: KOHb, Getty Images/iStockphoto
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