Artificial intelligence (AI) is rapidly helping businesses go global more seamlessly, not least due to machine learning reducing translation service costs. However, there’s more than one way that AI can benefit international business. Read on to take a deeper look at why businesses around the world are looking into AI and similar tech.
Cutting Costs with AI
The combination of the cloud and AI services can shape a modern enterprise infrastructure with minimal startup capital. Lingo24 founder Christian Arno says that AI helps him speed up taking products to market by 75%. The faster customer orders can be translated, the more they can increase sales. It’s beneficial for firms with fast-growing B2B e-commerce revenues to use AI technology to speed up translations.
Arno is not calling for robots to replace humans, however. His ideal scenario is combining AI technology with talented translators for the best results. Since the technology still has a certain percentage of error, humans are useful for intervening when it comes to translation accuracy. The more a global company can reduce translation problems that pose a barrier to international trade, the faster it can earn money.
Saving Time with Automation
Automation is the capability of AI to complete redundant tasks quickly and efficiently. Human workers have a tendency to commit errors if they do too much redundant work that leads to over-confidence and lack of focus. AI is particularly useful for a large company with a long line of products to categorize products, making them easier to track in the supply chain.
Using automation systems allows the company to move employees into positions in which humans are able to perform tasks that computers cannot, such as sales. Humans are seen as adding value to production and products, as AI can help expand services.
Using AI to Map the Future
Another major benefit that AI is bringing global businesses is the ability to make more accurate financial forecasts, as IoT systems now collect a wealth of real-time data. Issues of government compliance and data flow restrictions will shape the direction of AI’s future. But one thing is clear—AI can already be a tool for businesses to predict the future by learning from the past. Data flow restrictions will also involve respecting privacy rights, which will put limits on the amounts of personal data that can be collected.