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Monday, December 6, 2021

Report: AI Has Helped Half Of Business Owners During Labor Shortage

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A new report from Unsupervised indicates that one in two business owners who implement AI say it has helped their businesses during the laboratory shortage.

As companies continue to see high turnover rates, business owners can benefit from AI handling tasks traditionally managed by human employees, especially if employers are struggling to hire new workers. According to the study, the main tasks that business owners are optimizing through AI include chatbots, content creation for emails and announcements, and inventory management.

However, if companies scale up AI implementation, they will also need to make sure they are adequately staffed with trained and knowledgeable employees about their AI programs. The unsupervised report found that 40% of business owners feel they lack AI expertise on staff.

How do companies use artificial intelligence technology?  The most widely used AI technologies include natural language processing at 36%, robotic process automation at 22%, computer vision at 18%, deep learning at 16%, conversational interfaces at 15%, and physical robotics at 13%.  The top three tasks business owners are optimizing with AI include creating content for customer emails and announcements by 47%, chatbots by 44%, and managing inventory by 35%.

Above: The main tasks that business owners are optimizing through artificial intelligence are creating content for emails and announcements, chatbots, and inventory management. Overall, 1 in 2 business owners using AI say it has helped their businesses during the labor shortage.

Image Credit: Unsupervised

While AI can complement human workers or “replace” certain jobs, it is critical to have trained professionals with a holistic understanding of the AI ​​programs the company has implemented. If a perceived difficulty hiring professionals trained in artificial intelligence He continues, business owners must adapt quickly with methods like strategic contracting, simplified training, or even outsourcing.

The notion of implementing AI for business needs is growing: 18% of business owners want to increase their use of AI in the future, and one in five is currently in the process of implementing AI for the first time . The trade-off is that you need fewer capable employees than AI can handle, but you need more employees trained in AI programs.

Unsupervised used multiple data sets to examine cross-company AI usage and capture the current AI and business landscape, including the 2021 AI Index Report, International data corporation, The State of AI in the Deloitte Enterprise, and CB Insights, in order to explore seed funding for AI. Unsupervised also surveyed 520 business owners about their attitudes towards implementing AI in their businesses through Prolific.

Read more in the full report by Unsupervised.

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