Augmented Intelligence and Automation in the Business

Augmented intelligence is the way in which we can use artificial intelligence to really promote our business and work along with machine.

It might be seen as cheating, but if you look at it from the business owner’s point of view, there are so many aspects to a business, a lot of which are mere time wasters that could easily be handled by augmented intelligence.

Anything that becomes repetitive can be set up with sophisticated technology that you can use in your business to help you with those really easy tasks. Big companies, like Amazon, use augmented intelligence to change dynamic pricing in the field of technology and gadgets.  

You might wonder how this same technology can be applied to the Financial industry?

If you look for instance at our accounting systems, if you know that a client has a certain number of expenses incurred monthly. The technology can be set up in such a way that these expenses are recognised by the system. Repetitive payments won’t need to be typed in manually.  The system will recognise a payment and see the payment go through your bank statement, and automatically allocate it to your rental payment, telephone or bank charges account, effectively streamlining your accounting process.

You might wonder if it is unsafe entrusting such an important task to a computer?

You must decide on the privilege rights allocated to the system, and how far the technology controls this. The Human element, the supervisor,  always has a certain degree of review. Accounting software can allocate all of these expenses, but this has to be reviewed. The tedious job of typing every single digit is done for you, you merely do a review of the entry, and agree or not.  In the cases where you don’t agree, you can go and fix whatever allocation the system “decided on.

There might be concerns that this could lead to job losses.  This has certainly been a fear since the early 90’s, when machines were introduced into the workforce to replace humans.

But through the use of new technology, if you can make a business more profitable, you will be setting the business up to create jobs. It is important to stay ahead of technology really see how it can be  implemented to increase profit. Not keeping up could be detrimental to your business.

You might wonder if your job can be at risk to augmented intelligence?

It’s been 30 years since there has been a dramatic game changing move. People aren’t too scared, because it hasn’t happened in their lifetime, technically. Let’s think of the millennials and 10 years older. It hasn’t happened in their workforce lifetime.

Budweiser Beer, for instance, now developed a truck that can deliver beer by itself.  This type of technology can leave a lot of people without a job. This is a great time for introspection. To identify your place in the workforce, and how you can upskill yourself to always stay relevant in the faster-paced technological environment.

On the bright side, technology like this takes the human element out of the delivery, which in turn makes it a lot safer. Driver-fatigue, wrong orders etc. are all cut out of the equation.

Alas human interaction will always be a very important part of any business.  Customers still love customer care. It’s all about identifying with the people/story behind the product.  Quality and Customer Care is the most important marketing you can do.

Q and A:

Q: Cryptocurrency. Good or bad investment?

A: Cryptocurrency is here to stay. Make sure it is a good fit for your portfolio. High risk, high-reward.

Q:  Coffee or tea for the modern business person?

A: Aside from the physiological aspect, the social aspect of having a coffee with colleagues… priceless.

Q: Is it necessary to take a vitamin in the morning?

A: Definitely. You can not be productive if your body is not functioning optimally.

Q: Plants in the workspace?

A: Organise your workspace the way YOU can be most productive.

Q: Reading Books. Important? And when? Morning or evening?

A: Depending on yourself. Read when you feel most productive.