Although AI is best m&a data room often used interchangeably with automation, the two concepts are distinct. While automation is focused on reducing the burden of specific tasks Artificial Intelligence is more focused on transforming and optimizing work to maximize outcomes.
The difference is in the amount of tasks the tools do and the manner in how they accomplish this. Automation employs simple rules to complete tasks like moving emails into designated folders that are based on certain criteria (or using the formula Excel uses). This is typically done with pre-programmed software and is often used in business processes such as the execution of test scripts or creating reports.
AI technologies, on the other hand, use sophisticated neuro-like pathways to connect data points and then learn from them in ways similar to what humans operate. Consider Boston Dynamics’ robot Spot. It uses the data it receives from its environment to continuously improve itself. This is what sets it apart from traditional automation – and the reason why its impact on workforces will likely to be more disruptive in the future.
AI can assist businesses in working faster and more efficiently, while also eliminating human errors. Its ability to identify patterns, self-optimize and automate mundane and repetitive tasks allows it to complete the repetitive and monotonous tasks that employees are not trained for. This lets them concentrate on strategic and valuable activities. This is what leads to the dramatic improvements in productivity that are seen in multifamily leasing today and more time spent on important tasks and providing better customer service.