Is AI The Way To Save Your Business?

Published September 29th, 2020 - 03:00 GMT
Is AI The Way To Save Your Business?
The pandemic proved that companies who did not have a solid cloud infrastructure that allowed them to operate remotely were hit the hardest financially and economically. (Shutterstock)

With the world on the brink of another digital revolution, companies across the globe are racing to adopt digital transformation in order to stay ahead in the game. 

Over the past decade, companies like IBM, Facebook and Google have utilized artificial intelligence and the internet of things, among other technologies, to revolutionize the digital world. Those companies are taking their advancements and enhancing the way companies operate, particularly in the west. However, if we want to bring the game closer to home, it is quite apparent that Jordan still lacks the needed exposure and expertise in the digital world, with companies still using man power to carry tasks that have already been replaced by automation in the west over the past decade.

According to IBM, AI is expected to replace around 75 million jobs and introduce more than 130 million new job opportunities over the next 10 years. Those numbers offer both a disturbing and a hopeful insight into what the world might offer over the coming decade. With that being said, the adoption of AI tools is a crucial move for companies to stay part of the business world.

This gap between developing countries, and countries with technological advancements became more apparent amid the emergence of COVID-19. The pandemic proved that companies who did not have a solid cloud infrastructure that allowed them to operate remotely were hit the hardest financially and economically. Whilst companies who were already a part of the tech world emerged stronger than before. 

One, among many others in the MENA region, is tech start-up Elevatus. Elevatus, founded in 2018 in Jordan, uses AI driven tools to enhance the recruitment process for companies by reducing cost and time. Elevatus focuses on using technology to transform and introduce businesses to the digital world.

The hit that the economy received because of COVID-19 left companies looking for ways to become more sustainable and digital. This particularly is where Elevatus hit the jackpot. Companies from different sectors began targeting AI companies to adopt and use AI to save and improve their businesses. Elevatus says its revenues tripled, with companies turning to AI driven tools to enhance their processes. With their sales surging higher than ever before, Elevatus is a well-rounded example to why adopting digital transformation is an imperative step to saving your business.

Labiba for AI is another example of a successful adoption of AI tools to improve businesses. Labiba for AI uses NLP – Natural Language Processing – to build Chatbots that aid humans in the customer support process. While Chatbots are the simplest form of AI, they have proved to be useful and imperative to reducing cost and time and improving customer service. It is important to note that the introduction of such technologies does not aim to replace humans but rather help them to simplify processes and make them more efficient.

If your company is hitting a roadblock, digital transformation is a worthwhile investment and should be considered as it helps you not only improve your business but also save time and money in the long run. 

By Sama Al Kurdi
Sama Al Kurdi is an Industrial Engineer who is passionate about the business and tech scene in the MENA region.

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